FARMINGVILLE, N.Y. – Fast-growing Teachers FCU has acquired a 20,400 square-foot office building in nearby Hauppauge, where it plans to build a new headquarters.
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The $3.8 billion credit union, which grew its assets a whopping 28% over the past 12 months, pans to move into the building in January. Teachers earned a $31 million net in 2009 and a $4.2 million net for the first quarter, even after a $2.4 million charge for the corporate credit union bailout.
The new building, renovated in 2006, will replace the credit union’s cramped five-story headquarters in Farmingville.
