Torrington Municipal & Teachers Federal Credit Union

A deposit and minimum balance of $5.00 establishes your membership in the credit union and you are eligible to use any or all of our services. Your deposit into a share account is your proof of ownership in the Torrington Municipal & Teachers Federal Credit Union. There are lots of reasons to save. Member/owners like to save for retirement, vacation, an automobile, home, school or maybe just for security. Torrington Municipal & Teachers Federal Credit Union is committed to helping you earn more on your savings. We give you many different options to help you get the most for your money. No fee checking accounts ( share draft ), share certificate of deposits, money markets, IRA savings and club savings are some of your savings options. We offer a Classic Membership for our member's who use four or more of our services, one of which is a loan. For these members we offer 25 basis points onto our regular certificate rates and 25 basis points off of our regular loan rates. For our younger savers we offer our STAR Club for Kids and for our teen member/owners the TEAM Club ( Teen Education and Money Management ). Remember to pay yourself first with our automatic transfer service! Because the Torrington Municipal & Teachers Federal Credit Union is a not for profit financial cooperative, all the money made by the credit union goes back into the credit union in forms of higher savings and lower loan rates to our member/owners. We always have among the most competitive rates in the area. Be sure to see Torrington Municipal & Teachers Federal Credit Union for all your financial needs! If you want to save yourself a lot of money be sure you open your checking account with the Torrington Municipal & Teachers Federal Credit Union. Our no fee checking does not require a minimum balance, does not charge a monthly service fee, or per check charge. All of our member/owners are offered this service not just our direct deposit member/owners. In addition we offer free VISA check cards, free bill pay, free 24 hour seven day a week internet access and overdraft protection. Most of our member/owners save hundreds of dollars per year taking advantage of this free service. Our share savings require a minimum balance of $5.00. In addition to our required member/owner share account member/owners may open club savings for vacation or holidays. Our member/owners may open any number of savings accounts based on their individual needs. Dividends ( interest ) are paid on all balances over $100.00. Dividends are declared and paid at the end of each quarter. They are calculated on an average daily balance.