Government Shutdown Assistance
At TEG Federal Credit Union, we’re with you for life, and that includes any bumps in the road our members may have along the way. We understand the recent government shutdown may put some people in a stressful and difficult situation. We’re here to assist members directly affected by providing solutions to help lessen the financial impact.
If your pay is disrupted, we recommend you visit a branch or contact us at 845-452-7323 to discuss your situation with one of our Member Service Representatives. Current members in good-standing may request a variety of temporary services to help extend their funds during the shutdown, so they can breathe a little easier.
A copy of your Furlough notice and Government ID will be required to take advantage of these options:
A copy of your Furlough notice and Government ID will be required to take advantage of these options:
Shutdown Loans - TEGFCU is offering a six-month, 0% APR Loan up to $1500 to government employees working without pay during the shutdown. Inital payment for members who receive the loan will start 60 days from the account opening.
Waive Withdrawal Penalties - If you need early access to the funds that you’ve saved in your Holiday Club Account or Share Certificate, you may withdraw your money before maturity to help get you through the furlough. And, TEG will waive the early withdrawal fee/penalty!
Skip-a-Pay - You may also qualify to take advantage of Skip-a-Pay on your TEG loan even if you have skipped a payment within the last 12 months. This option is available on vehicle loans, Mastercard® credit cards, lines-of-credit, and personal loans. Share secured (loans/credit cards) and real estate loans do not qualify for this program. Note: Interest will continue to accrue on your account, but the standard $35 processing fee will be waived.
Come talk to us so we can help you through this difficult period.
Program is subject to change depending on status and duration of Government Shutdown.
