One of the best things about being in the armed forces is that you get to be a member of several beneficial financial institutions, and the Tinker Federal Credit Union is one such organization. Based in Oklahoma City, Oklahoma, this financial organization was started by a group of employees of the Tinker Air Force Base, Oklahoma 68 years ago. Today it has operations at 31 locations in and around the state of Oklahoma. There are 27 branches and an additional four “Express Electronic Service Centers”. The Tinker Federal Credit Union is regulated and authorized by the National Credit Union Administration (NCUA). The company’s net worth was estimated to be $3.2 billion as of October 2014.
How to Join the TFCU
To become a member of the Tinker Federal Credit Union, usually, you or one of your family members should be a member of the US Armed Forces. However, there is also a provision for non-service people to become members, such as, if you are an employee of one of the business partners of the TFCU. If a member of your family is already a member of the TFCU, then you are automatically eligible to become a member.
On being eligible, you will be required to submit documents for establishing and verifying your identity and will have to fill the form with all your details. Once this is done, you can become a member by opening a share (savings) account with a minimum deposit of $5.00. For further clarifications regarding membership, you can call the Member Service Center at (405) 319-2255 or 1-800-456-4828, ext. 2255.
Services offered by the TFCU
There is a wide range of financial services offered by the TFCU. Here are some of the major facilities available to its members:
The range of checking accounts by TCFU is asunder:
Savings accounts come under the following heads:
- Share (Saving) Accounts
- Command Fund (Money Market)
- Premium PlusTM
- Share Certificates & IRAs
- Christmas Club
- SaveAbles Accounts for Kids
- Military Awards
Loans by TFCU
A seemingly endless list of categories of loans is available to members:
- Vehicle Loans
- Green Loans
- Motorcycle Loans
- Recreational Vehicle & Boat Loans
- Disaster Relief and Storm Shelter Loans
- Personal Unsecured Loans
- Home, Land and Construction Loans
- Mobile Home Loans
- Home Equity & HELOCs
Not to miss out on an important aspect of the financial market, the TFCU has also some attractive insurance options:
To augment these services, TFCI also offers free insurance consultation.
Other Facilities
There are many general facilities offered by the TFCU such as Automatic Transfer Options, insurance of funds held on various accounts. Credit cards are also offered and at an interest rate of 9.11% APY. A “Line of Credit” account can be requested, which is like a revolving account with monthly payments. This is a convenient means of covering for unprecedented emergencies. Overdraft protection is another attractive feature offered by the Tinker Federal Credit Union. You can also opt for the “Direct Deposit” option, to have your paycheck credited directly to a TFCU account of your choice.
TFCU has well-developed online services. Internet banking can be done in the form of various transactions such as checking balance, setting up electronic account alerts making online payments, transferring money and paying bills online. Mobile banking is also possible. This enables you to do certain transactions from your mobile device, whether it is a cell phone, tablet or laptop.
You can also avoid paper statements by opting to receive e-statements and e-notices which will be sent securely to your registered email ID.
Savings Interest Rates
The Tinker Federal Credit Union offers better savings interest rates than several other financial institutions in the market. The rates can be found on the website and may fluctuate in line with changes in the market conditions. The rates range from .05%-1.49%. There is Premium Plus, Rate Booster, Term Share, Command Fund, and Click Checking. We talk about Click Checking below in more detail, which seems to be their best interest rate account.
Click Checking
The best interest rate comes from the Click Checking, which gets you a 1.49% interest when you do a bunch of transactions through their system. You have to have pay one bill through TFCU online bill pay, make 10 debit card transactions a month, sign up for E statements, and sign up for direct deposit for your paycheck. The interest rate is only good up to $30,000, then it drops down to .10%.
Tinker Federal Credit Union – What Customers have to say
Due to its moderate size, the TFCU has managed to impart a personal touch to the way it operates. Bearing testimony to this fact, here’s what a few satisfied customers have to say:
Rebecka M from Spencer, Oklahoma says, “They always have the nicest employees no matter which location I go to. They have free checking with mobile deposit which I love.”
Another customer who goes with the online name of “Sixpack Y” says that although the Tinker Federal Credit Union is just like any other bank, this one has much more reasonable charges and is not as pushy as other banks, and he/she says that they even get interest on their checking account. However, “Sixpack Y” goes on to say the best feature of the TFCU is the online bill paying facility which drafts the money much faster that other banks which sometimes incur overdraft fees due to delayed transactions.
The positive feedback of the Tinker Federal Credit Union is best summed up by Robynn D of Oklahoma City, who makes the following statement, “Always friendly and extremely helpful. They go the extra mile.”
Final Analysis of the Tinker Federal Credit Union
In retrospect, it would be fair to consider the TFCU as one of the premier regional financial institutions in the United States. There are several big, national financial organizations which cater to the financial needs of military personnel. However, there is always a need for some companies that operate at a local level, to cater to the specific needs of a particular region.
