I’m pleased to share with you news that TIAA has entered into an agreement to sell TIAA Bank to new investors, allowing us to begin an exciting new chapter as a standalone bank focused on serving our consumer and commercial clients nationwide.

The bank’s new owners are among the country’s leading global private investors and bring to TIAA Bank substantial resources and experience in financial services. TIAA will retain a non-controlling stake in the bank, demonstrating the company’s confidence in the bank’s future success. Together, we’re looking forward to carrying on our bank’s long tradition of innovation and exceptional client service, including our commercial lending solutions and high-value deposit products.

First and foremost, I want to assure you that you will continue to receive the same high level of client support you’ve come to expect.

• If you’re a TIAA Bank client, the sale has no impact on your bank accounts. It continues to be business as usual at TIAA Bank – there are no changes to your account numbers, lending agreements, ATM cards, CDs, checks or deposit accounts. You can do business with us as you always have: by phone, online or at our Florida-based financial centers.
• If you’re a TIAA retirement client, the bank sale has no impact on your TIAA accounts.

We’ll keep you informed every step of the way as our bank completes its ownership transition following regulatory approvals and satisfaction of other customary closing conditions (which we expect will be in 2023).

For more information about this bank transaction, read our press release. If you have any questions about your TIAA Bank account, please contact us at 1-888-882-3837.

Thank you for being a TIAA Bank client. We look forward to serving you in the future.