Transit Employees Federal Credit Union (TEFCU) was founded on March 29, 1940 as D.C. Transit Workers Division 689 Federal Credit Union, by five (5) employees of the Capital Transit Company in Washington, DC. They combined their purchasing power and started the Credit Union with thirty-seven (37) shares at a par value of $5.00 per share totaling $185.00. The Credit Union was managed by Washington Metropolitan Area Transit Authority (WMATA), and was operated exclusively for its members. One year later, on March 31, 1941, the Credit Union’s name was changed to Transit Employees Federal Credit Union (TEFCU).
Those first five (5) members demonstrated the true meaning of a Credit Union. They pooled their resources together and provided low interest loans to their members. This cooperative philosophy is still viable today.
In the summer of 2006, TEFCU became its own viable entity with the separation from its parent company WMATA. In 2008, TEFCU communicated with a local Credit Union, Railway Employees Federal Credit Union (REFCU), who wanted to give their members more than what they could currently offer. In December of 2008, TEFCU took this opportunity to spread its reach and merged with REFCU; allowing their members to have access to our expanded products and services. With the merger came an expansion of our charter to include Amtrak in our field of membership. In addition, TEFCU officially became a multiple common bond chartered Credit Union. On June 1, 2011, TEFCU merged with Hospitality Community Federal Credit Union (HCFCU).
TEFCU has a strong history of community and member-focused based service which serves to be mutually beneficial. TEFCU now has the opportunity and privilege to spread the Credit Union’s philosophy throughout the Washington, DC metropolitan community by seeking out select employee groups (SEG) and local businesses in the community, and adding those businesses and their employees to our field of membership.
With each new business added to our field of membership, we think back to those five (5) individuals who embodied the Credit Union’s movement. TEFCU strives to be the Credit Union of choice, where members can obtain competitive loan rates, take advantage of a variety of products and services personalized to their needs, and receive the best possible return on their funds.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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