Type Credit union Total assets $240 million USD Founded 1969 | Industry Financial services Website tegfcu.com Number of employees 95 (2015) | |
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Key people Walter V. Behrman, Jr., Board Chairman; Paul Goldstein, Vice Chairman; Jesse Doughty, Treasurer; Frank LaRose, Secretary; Ronald A. Flaherty, President & CEO; Thomas I. Gay, CFO Products Savings; checking; consumer loans; mortgages; credit cards; online banking; Business Savings; Business Checking; Business Loans Headquarters Poughkeepsie, New York, United States Profiles | ||
What makes teg federal credit union different than a bank
TEG Federal Credit Union (formerly Taconic Educators and Government Federal Credit Union) is a federally chartered credit union in the New York counties of Dutchess, Orange, and Ulster. As of 2015, the institution has $240 million in assets, 83 full- and 12 part-time employees, and 27,000 members.
Contents
The credit union provides a wide range financial services including Consumer and Business Loans, Mortgages, Free Checking, and many other Consumer and Business deposit account options, plus MasterCard credit and debit cards.
History
In 1969, teachers from the Wappingers Central school district decided to create an alternative to the banks they had been using. Desiring a financial institution that would provide fair and equitable treatment, they successfully chartered the Wappingers Central Federal Credit on April 25, 1969 with the National Credit Union Administration (NCUA).
In March 1976, credit union membership expanded to include the government workers of Dutchess County and the credit union's name changed to Taconic Educational and Governmental Federal Credit Union, or TEG Federal Credit Union as it is known by today.
In August 2000, TEG received a new community charter and opened its doors to all who lived, worked, worshiped, or attended school in Dutchess County. The most recent extension of this charter in December 2002 opened up the membership to all who live, work, worship or attend school in New York’s Dutchess, Orange and Ulster Counties. TEG Federal provides an annual $1,000 scholarship to student members.
Branches
TEG FCU has branches in the following locations: Beekman, Fishkill, Hyde Park, Newburgh, Poughkeepsie (Main Office - 1 Commerce St), Poughkeepsie (College Center - 11 Marist Dr) and Wappingers Falls.