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scam alert

Scam Alert – Members Beware – Telephone and Text Scams

Please be aware of a phishing telephone scam that some credit unions across the country are reporting more frequently. Members are receiving phone calls from fraudsters posing as a credit union employee, who tell them that their account has been compromised or that their credit/debit card will be or has been deactivated due to inactivity or for other various reasons.

Scammers are duplicating the phone numbers of financial institutions so the call appears to be coming from a legitimate source. The person making the call requests personal information or card data to verify ownership of the account before the account …

What is an Adjustable-Rate Mortgage?

TEGFCU Adjustable-Rate Mortgage

What do I need to know about Adjustable-Rate Mortgages?

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An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. This means that your monthly mortgage payment could go up or down over the life of your loan. ARMs are typically used by borrowers who plan to sell their homes or refinance before the end of the initial fixed-rate period. Additionally, adjustable-rate mortgages suit homebuyers who believe rates will be lower when their loan adjusts. An ARM may be a good option if you fall into one of these categories. Keep reading to learn …

Beware of Online Quiz Scams

Beware of Online Quiz Scams

Online quizzes are a fun way to pass the time and test your knowledge, but they can also be a way for scammers to steal your personal information. In recent years, online quiz scams have become more prevalent, posing a risk to anyone who takes the bait. Here are some things to look for to protect yourself from online quiz scams.

How online quiz scams work

Online quiz scams typically work by asking you to answer a series of questions about yourself, such as your name, address, phone number, and date of birth. These questions may seem harmless, but they …

Home Warranty Scams

Home Warranty Scams

Home warranty scams are rising. with millions of dollars lost to fraudsters each year. These scams can take many forms, but they all share one common goal: stealing your money.

Scammers often pretend to be from companies you know and trust. For example, TEG Federal Credit Union members have reported receiving an unexpected letter from Helping Hand Home Warranty telling them their home warranty is about to expire.

The credit union’s name on the letter makes it misleadingly look like it comes from a legitimate business, and naturally, recipients might be confused and concerned. Make sure you read the fine …

Zelle Safety

How to Use Zelle to Safely Send Money

Zelle® is a fast, safe, and easy way to send and receive money with people you trust, like your babysitter, coworkers, fellow PTA mom, or your son’s soccer coach. Whether you just enrolled with Zelle® or have been an active user for a while, there are a few tips you should always keep in mind to ensure you are being safe when sending money.

Only send money to those you trust

At TEGFCU, Zelle® should only be used with friends, family, and others you trust. Why? Because you can’t cancel a payment once it’s been sent if the recipient is …

postal mail theft

Postal Mail Theft

Protect yourself from USPS mail theft

If you live in Hudson Valley, it’s time to get on the defensive regarding mail theft. With rising reports of statements, packages, letters, and other important documents going unchecked due to a significant increase in mail thefts across the state, this is not something NY residents can afford to ignore. From unscrupulous individuals stealing mail right out of people’s mailboxes to sophisticated corporate schemes involving employee fraud and identity theft, unfortunately, anyone receiving or sending mail could be at risk for experiencing a violation of their privacy – and possibly even having their financial information compromised.

What is postal mail

Switch to TEGFCU eStatements and enter to win $100

TEGFCU eStatements

Fast. Secure. Convenient. Always Available.

Your bank statement is a vital tool for keeping track of your withdrawals and deposits, but more importantly, it also helps you become aware of suspicious activity and possible fraud.

Get TEG eStatements and enter to win $100. Fast – Avoid USPS postal shortcomings, delays, and lost or stolen mail. If you have a problem with your account, waiting for a statement that might never arrive can be bad. Get the same exact information as your paper statements.
Get TEG eStatements and enter to win $100. Secure – Go paperless and protect yourself from identity theft by eliminating the risk of losing or stealing your mailed statement.
Get TEG eStatements and enter to win $100. Convenient – Access your …

2023 TEG Federal Credit Union Annual Meeting

Annual Meeting 2023

This year’s 54th Annual Meeting was held:

March 30, 2023,  5:30 PM
1 Commerce Street, Poughkeepsie, NY, 12603

Each year, TEG Federal Credit Union hosts an Annual Meeting. Our Annual Meeting is a unique opportunity for credit union members to hear about our financial health and community impacts, learn about the financial state of the credit union, and hear from our Board of Directors and Supervisory Committee.

Three board members were up for re-election and were subsequently elected.  They were:

Vice Chairman Andrew Krayewsky
Joseph Corrigan
Frank La Rose

If you’re interested in serving on TEG’s Board of Directors to …

Keep yourself safe from scams and fraud

Keep Yourself Safe from Scams and Fraud

Scams targeting people often play on their trust. We want to empower you to spot the latest scams and know a fraud when you see it. We are seeing an increase in phishing telephone scams involving fraudsters posing as members of a technology department, fraud department, utility, or government entity.

TEG is committed to keeping your personal and account information secure. We will never contact you via phone, e-mail, or text message to ask for your account number, social security number, or password. However, if you initiate a call to us, we will ask for some identifying information before we …

Renovation Loan


The national trend of homebuyers seeking out properties in need of renovations has established a firm foothold in the Hudson Valley,
where low inventory and a critically-low inventory of turnkey houses, have repositioned the market.

As a result of these shifting sands, many homebuyers are pivoting and staking their claim in the American Dream by turning to fixer-uppers.
And they are financing these buys with renovation loans that can set the stage for:

Purchasing a property with great potential that can be turned into a house that will truly be a perfect fit, because renovations can be tailored to specific

5 C’s of Credit: Capacity

Credit Capacity

There comes a time when everyone needs to start prioritizing their credit score. Whether you’re applying for a credit card or a loan, your credit score impacts your ability to access these products. There are five major factors to consider, often referred to as the 5 C’s of credit, when you’re improving your credit score. Character, Capacity, Capital, Collateral and Conditions are concepts you need to familiarize yourself with, but let’s focus on the second C, Capacity.

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There are many strategies to improve your credit score.
Let’s dive into how capacity helps.

What is Credit Capacity?

Credit capacity refers to …

A young woman reviews her bills to see if she should apply for a personal loan to build credit.

Credit Builder Loans: Personal Loans to Build Credit

Having a good credit score is critical in the age we live in. Having a low score—or no credit history—can hold you back in life.

The good news is that you don’t have to live with a low credit score forever. You can use a credit builder loan to turn things around. These loans are easy to obtain and simple to understand, plus the monthly payments you make can help improve your credit score.

What Is a Credit Builder Loan?

A credit builder loan is a type of personal loan that’s offered by banks, credit unions, and other private lenders

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