Business Savings Your Future
Local Hudson Valley businesses are so important to our communities. TEGFCU is here to help you reach your financial goals. The first step to establishing membership is to open a Business Savings account.
Our Business Savings accounts have great features, such as Digital Banking, which offers hassle-free management and quick access to your business funds.
By putting aside a little monthly cash, you can build your funds for future needs and manage your cash flow more effectively. Whether your business goals include expanding, upgrading, or protecting your company from emergencies, we have a superb savings solution. Take your business accounts further with competitive rates and excellent service. Let’s grow together!
Michael Mazzuca
Business Development Officer
Career Highlights
- 20+ years of commercial lending experience in the Hudson Valley
- Professional Real-Estate and Nature Photographer
Who Can Apply
As a local Credit Union, TEGFCU serves a variety of Hudson Valley businesses. If your business is in and/or does business in the NY counties of Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster, or Westchester, then your business is eligible for all the benefits of TEGFCU Business Membership.
Not a business member yet? Let’s change that. Find out what documentation you need to join.
Three ways to save for your business goals
- Business Savings Account: Let’s make your extra cash work for you! Earn competitive rates, but your funds stay within easy reach. Interest is compounded and credited quarterly. Plus, get convenient online and mobile access. Opening a Business Share Account with a minimum $5 balance is required to gain TEGFCU Business Membership. Let’s get our business relationship started!
- Business Money Market: Crave better dividends but still want quick access to your funds? This option elevates your earning potential without locking down your cash. We offer tiered interest rates and no monthly fee with a minimum balance of $1000. Convenient online and mobile access is also included with this account.
- Business Share Certificates: If you’re in it for the long haul and can park your funds for a bit, our certificates will reward your patience with even higher earnings. We offer terms from 3 months to 5 years. The minimum opening deposit is $500. A share certificate is automatically renewable at then-current market rates.
| Daily Minimum | APY* | Dividend Rate |
|---|---|---|
| $1,000-$49,999.99 | 0.15% | 0.15 |
| $50,000-$99,999.99 | 0.25% | 0.25 |
| $100,000 and over | 0.50% | 0.50 |
APY = Annual Percentage Yield. Rates as of 5/1/2024 and may change at any time. Dividends are compounded and declared on the last day of the month. Maximum of 6 withdrawals/transfers per month. Fees may reduce earnings. APY is based on non-withdrawal of dividends earned. A $5 minimum share account balance is required for TEGFCU membership. Minimum to open account is $1,000.00.
WHY TEG?
We don’t just offer quality products and services to our business members; we actively work to help them thrive and grow. We are local experts, and local experts make local decisions. No matter your business’ size, we specialize in helping you reach solutions. Whether you need help moving into a larger space, upgrading your facilities, or managing your cash flow, we’re here for you every step of the way.
Looking for a Business Loan?
TEGFCU is the local lending partner you can count on to help you achieve your business goals. Whether you’re looking to expand, renovate, buy equipment (even a car), or purchase or refinance a commercial property, we’ve got the loan for you.
