SCAM Alert: Credit Unions across the country are reporting that fraudsters are posing as financial institutions in attempt to steal confidential information. If you receive a suspicious call or text from someone claiming to be from TEG, even if the number appears legitimate, hang up and contact us directly at 845-452-7323. TEG will never contact you to request your account information. Do NOT share your personal confidential information with anyone. Learn about Fraud & Security: https://www.tegfcu.com/fraud-security/
Our partner, Vision Retirement, offers a variety of solutions, including advice, planning, investing, tax preparation, and consulting services. Regardless of whether you’re just starting out have saved a significant amount of assets, you’ll get to work with a CFP® professional with whichever service option you choose.
Established when 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 Union on April 25, 1969 with the National Credit Union Administration (NCUA). Joyce A. Betros was a Wappingers Teacher and was one of the founding members of the credit union.
1974
Eugene Gumienny, then at Marist College, joined the Board and brought Marist College in with him.
1975
It was projected that by January we would reach the $1Million mark.
1976
Barbara Hogan was the Treasurer in the Dutchess County CSEA Credit Union when NCUA notified them that they could not limit their membership to just CSEA members. As a result, they decided to combine with the Wappingers Central Federal Credit Union which already had a number of local school districts. April – As a result of these two entities joining together, we became the “Taconic Educational and Governmental Federal Credit Union”, TEG.
May – bought the original Route 9 Building and we began operations September 2nd.
October – instituted No Cost Travelers Checks.
1979
Our 10th Anniversary from our very modest beginnings we had grown to: 3,963 members $3,817,351 Shares $4,914,717 In Assets
Interest-bearing checking (share) Accounts. Credit Unions like TEG pioneered this type of payment programs. Credit Unions began offering them because Congress approved legalizing Share Drafts.
Joseph Prokop was hired as CEO of the Credit Union.
1980
Walter Behrman became a Board Member of TEG. Walter was an Arlington teacher and was on the Board of the Poughkeepsie School Teacher’s Credit Union. Since that Credit Union was very small and not able to offer many services to its members, Walter was instrumental in bringing the Arlington School District employees to TEG. Poughkeepsie remained a small Credit Union and didn’t merge with TEG until the early 2000’s.
1981
March 1st we converted to our own in-house computer.
1982
Opened our 1st branch, in 44 Plaza (now where Mid-Hudson FCU is currently located).
1983
1st TEG Mastercard.
May 11th we officially became just TEG and dropped the Taconic and Educational from our name.
1984
June – Share Accounts earned 6¼ % interest.
September – Share Accounts earned 6½% interest with a Premium Dividend of ¼% and ½%.
1985
Moved from 44 Plaza to our first Tucker Drive Office and we also introduced Debit Cards.
1986
Fall, introduced Plan America, a Credit Union Financial Planning network. It was the forerunner of our current Retirement Advisory Services with Jean Riordan.
1989
We had grown to: $28,943,174 in assets – 13,208 members
Spring, the new more modern, renovated original Fishkill Office was opened.
1990
July 16th we opened the Route 9G, Hyde Park office in Oakridge Plaza.
1992
Instituted the Eagle Logo and the “Instituted the Eagle Logo and the “Proud to Serve” motto.
1993
Instituted Audio Response.
1995
College Center Office opened
1996
Moved from Tucker Drive 1 to Tucker Drive 2 with covered Drive-up.
1998
Because of the Economy we introduced Fees but they were not long lived.
1999
We had grown to: $78,804,69 in assets – 7,143 members
“Do you remember the coming of Y2K and all the angst that created?”
2001
Obtained our Community Charter for Dutchess County, and opened our Beekman and current Hyde Park office.
2002
Surpassed assets of $100 Million.
2003
Expanded our Community Charter to include Dutchess/Orange and Ulster Counties.
2004
Bought the Commerce Street Property, opened the 1st Newburgh Branch at Stewart Plaza.
Introduced eStatements and adopted Blue and Gold as our official colors.
2005
Opened the Commerce Street Property, opened the 1st Newburgh Branch at Stewart Plaza.
2006
Introduced our Indirect Lending Program with local auto dealers.
2007
Started our TEG Scholarship program for three graduating seniors.
In 2012 in recognition of her service it was renamed the TEG Joyce A. Betros Scholarship.
2008
2nd Quarter we began Business Lending.
2009
We had grown to: $159,622,26 – 18,695 members
Opened our Robinson Lane/Hopewell Junction office.
2012
Joe Prokop was transitioning to retirement, and Ron Flaherty who came to TEG in 2000, as VP/CFO, assumed the reins of leadership.
2013
Negotiated an agreement for our (new) current Router 9 office.
2016
Opened that Route 9 Office. The original Route 9 office was reconfigured and it now houses the Solution Center. This is where we have our Call Center, Commercial Loan Department and Digital Channels Departments.
2018
Built and opened our Wallkill, Crystal Run Office.
Won designation as a “Low Income Credit Union”. This designates us as a Credit Union which strives to “serve the underserved” in our community and also eliminates the cap on Business Lending.
