Tyco Federal Credit Union


Reach Federal Credit Union is a federally chartered credit union for employees of Tyco International, TE Connectivity and Covidien. Reach Federal Credit Union is federally insured and regulated by the National Credit Union Administration. Reach Credit Union is headquartered in Menlo Park, California with offices in NC, PA and FL. Like all credit unions, Reach Credit Union is governed by a board of volunteers, elected by and from its membership.

History

Reach Federal Credit Union was founded in 1971 as Raychem Employees' Federal Credit Union by employees of Raychem Corporation. It was founded as a non-profit financial service cooperative dedicated to helping its members get ahead financially. After Tyco International acquired Raychem in 1999, it changed its name and expanded its field of membership to include all Tyco International employees. In 2007 Tyco Electronics and Tyco Healthcare were divested from Tyco International. This modified Reach CU's field of membership to include the three separate organizations Tyco International, Tyco Electronics, and Tyco Healthcare.
By 2013, due to divestitures, mergers and acquisitions by its corporate sponsors, the credit union's field of membership now includes ADT, Atkore, Covidien, Elo Touch Solutions, Mallinckrodt, Pentair, TE Connectivity and Tyco International employees and their families. Since only one of the sponsor companies still has the name Tyco, on August 1, 2013, Tyco Federal Credit Union became Reach Federal Credit Union.
In 2016 Reach Federal Credit Union Merged into Xceed Financial.
Before merging with Reach, Xceed Financial Credit Union was a $900 million credit union with negative earnings for 2015.
Currently Xceed financial is a $915,823,108 asset sized credit union with $1,955,920 in Net Income and a Net Worth Ration of 10.20 as of June 2018.

Products and services

Banking and Mortgage Services

Field of membership

Employees of Tyco International and its subsidiaries and business units
Employees of TE Connectivity and its business units
Employees of Covidien and its business units
Immediate family members are eligible to join.