Bob Allen, the longtime president/CEO of Teachers FCU, will retire at the end of May, the Hauppauge-based credit union announced. A new president/CEO has not been announced by the credit union at this time.
Allen was appointed president/CEO of TFCU 31 years ago and has led over a period of significant growth. The credit union’s assets have increased from $250 million to more than $7 billion, while its branch network has expanded from seven locations to 31.
TFCU, founded exclusively for teachers in 1952, extends from Riverhead to Manhattan, and has more than 325,000 members and 800 employees.
During his tenure, Allen managed more than a half-dozen strategic mergers, including three last year.
Allen has previously served as board chairman of UsNet, the New York Credit Union Association’s statewide shared branching network for credit unions. He also served as a board member for both the Association and the former Empire Corporate FCU, as well as on the Federal Reserve Bank of New York’s Community Depository Institutions Advisory Council.
Allen was inducted into the Credit Union House Hall of Leaders in 2014. The Hall of Leaders recognizes credit union leaders whose commitment has made a significant impact on the credit union movement at the local, state or national level, and whose commitment has inspired others in the credit union movement.
Throughout his career, Allen has been highly engaged with the credit union movement. Notably, he has been actively involved with several credit union organizations, including serving on committees of CUNA, and has played an instrumental role in policy development and legislative initiatives to protect and promote the credit union sector’s mission.
“Bob Allen has made a powerful, long-term impact within the local, state and national credit union communities,” said Association President/CEO William J. Mellin. “In addition to leading an extraordinarily successful credit union, he has provided tremendous leadership to our movement for over four decades. I wish Bob a happy and healthy retirement.”
Prior to joining Teachers FCU in 1988, Allen served as president/CEO of United Nations FCU. He currently serves as a trustee of the SUNY Old Westbury Foundation and is a member of the Staller Center for the Arts Advisory Council.
“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. “We have leveraged opportunities for expansion. I leave TFCU in a strong position for continued growth.”