HAUPPAUGUE, N.Y.–Robert Allen, the long-time CEO at the $7.2-billion Teachers FCU here, has announced plans to retire at the end of May.
Allen was named CEO in 1988, and has overseen growth from $250 million in assets, as well as expansion of its branch network to 31 from seven. The expanded branches helped serve a wider field of membership as the credit union now serves a region from Riverhead, N.Y. to Manhattan. TFCU has approximately 325,000 members and 800 employees.
Prior to joining Teachers Federal, Allen had been CEO of United Nations FCU.
Most recently, Teachers FCU has been in the news for acquiring two credit unions that had primarily made taxi medallion loans and which had been placed into conservatorship by regulators, LOMTO Credit Union and Melrose FCU.
During his career Allen has been active in a number of credit union organizations, including CUNA.
“I would like to thank the board of directors, my executive team, our managers and every staff member of TFCU for giving me the opportunity to serve in a leadership role,” Allen said in a statement. “Over the years, we have faced many challenges and we have been presented with many opportunities. Together we addressed the challenges of the Great Recession and rapid advancements in technology. We have leveraged opportunities for expansion. I leave TFCU in a strong position for continued growth.”
The credit union has not announced a successor.