Teg Credit Union is headquartered in Poughkeepsie and is the 46th largest credit union in the state of New York. It is also the 917st largest credit union in the nation. It was established in 1969 and as of March of 2014, it had grown to 68 employees and 24,490 members. Teg Credit Union has a A health rating.
Field of Membership Restrictions
Must live, work, worship or attend school in Dutchess, Orange or Ulster County. - See Details
Data for Q1 2014
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Teg Credit Union had $781,000 in non-current loans and owned real-estate with $17.79 million in equity and loan loss allowances on hand to cover it. This gives Teg Credit Union a Texas Ratio of 4.39% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Teg Credit Union experienced no significant changes from 4.08% as of March 31, 2013 to 4.39% as of March 31, 2014, resulting in a negative change of 7.56%. This indicates that the balance sheet and financial strength for Teg Credit Union has had no significant changes in recent periods.
Deposit Growth
In the past year, Teg Credit Union has increased its total deposits by $12.98 million, resulting in 7.45% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Teg Credit Union has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Teg Credit Union has $205.97 million in assets with $17.79 million in equity, resulting in a capitalization level of 8.64%, which is average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 19401 |
| Year Chartered | 1969 |
| Employees | 68 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $205.97 million |
| Loans | $134.99 million |
| Deposits | $187.12 million |
| Equity Capital | $16.68 million |
| Loan Loss Allowance | $1.11 million |
| Unbacked Noncurrent Loans | $673,000 |
| Real Estate Owned | $108,000 |
| Historic Data - March 2013 | |
|---|---|
| Assets | $192.47 million |
| Equity Capital | $16.02 million |
| Loan Loss Allowance | $991,000 |
| Unbacked Noncurrent Loans | $673,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 1.34% |
| Return on Assets | 0.29% |
| Return on Equity | 3.57% |
| Interest Income | $2.11 million |
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Teg Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | - | - | IRA Holding Account | |
| 0.25% | - | - | Roth IRA Holding Account | |
| 0.25% | - | - | CESA Holding Account | |
| 0.10% | $100 | - | Primary Savings | |
| 0.10% | $100 | - | Custodial Savings | |
| 0.10% | $100 | $500 | Vacation Club | |
| 0.10% | $100 | $500 | Holiday Club | |
| 0.10% | $100 | $500 | Summer Savings | |
| 0.10% | $100 | $500 | Special Savings |
Teg Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.35% | $50k | - | Money Market Account | |
| 0.35% | $50k | - | Business Money Market |
Teg Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 2.02% | $500 | - | 60 Month CD | |
| 1.76% | $500 | - | 48 Month CD | |
| 1.11% | $10k | - | 36 Month CD | |
| 0.90% | $500 | - | 24 Month CD | |
| 0.65% | $500 | - | 12 Month CD | |
| 0.40% | $500 | - | 6 Month CD | |
| 0.30% | $500 | - | 3 Month CD |
Teg Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 2.07% | $500 | - | 60 Month IRA | |
| 2.07% | $500 | - | 60 Month Roth IRA | |
| 2.07% | $500 | - | 60 Month Educational IRA | |
| 1.81% | $500 | - | 48 Month IRA | |
| 1.81% | $500 | - | 48 Month Roth IRA | |
| 1.81% | $500 | - | 48 Month Educational IRA | |
| 1.16% | $500 | - | 36 Month IRA | |
| 1.16% | $500 | - | 36 Month Roth IRA | |
| 1.16% | $500 | - | 36 Month Educational IRA | |
| 0.95% | $500 | - | 24 Month IRA | |
| 0.95% | $500 | - | 24 Month Roth IRA | |
| 0.95% | $500 | - | 24 Month Educational IRA | |
| 0.70% | $500 | - | 12 Month IRA | |
| 0.70% | $500 | - | 12 Month Roth IRA | |
| 0.70% | $500 | - | 12 Month Educational IRA | |
| 0.45% | $500 | - | 6 Month IRA | |
| 0.45% | $500 | - | 6 Month Roth IRA | |
| 0.45% | $500 | - | 6 Month Educational IRA | |
| 0.35% | $500 | - | 3 Month IRA | |
| 0.35% | $500 | - | 3 Month Roth IRA | |
| 0.35% | $500 | - | 3 Month Educational IRA |
| Teg Credit Union Locations | ||
|---|---|---|
| Branch Office | 196 Old Route 9 | Fishkill, NY 12524-2426 |
| Branch Office | 1 Commerce St | Poughkeepsie, NY 12603 |
| Branch Office | 900 Route 376 | Wappingers Falls, NY 12590 |
| Branch Office | 11 Marist Dr Suite 5 | Poughkeepsie, NY 12601 |
| Branch Office | 4282 Albany Post Rd | Hyde Park, NY 12538 |
| Branch Office | 16 N Plank Rd Ste 105 | Newburgh, NY 12550 |
| Branch Office | 2540 Route 55 | Poughquag, NY 12570 |