Dec, 31, 2023 — TEG FEDERAL CREDIT UNION is a federal credit union headquartered in POUGHKEEPSIE, NY with 8 branch locations and about $431.32 million in total assets. Opened 55 years ago in 1969, TEG FEDERAL CREDIT UNION has about 37,446 members and employs 121 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TEG FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1 Commerce St POUGHKEEPSIE, NY 12603 |
| Phone: | (845) 452-7323 |
| Fax: | |
| Website: | https://tegfcu.com |
| Branches: | 8 branch locations |
| Members: | 37,446 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19401 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $431,321,954 |
| CEO/Manager: | Ronald A Flaherty |
| Chairperson: | Walter V Behrman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 24,335,004 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 182,030,517 |
| Unsecured Loans | 25,180,080 |
| Other Loans | 120,527,197 |
| TOTAL LOANS | 327,737,795 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,498,567 |
| Land And Building | 5,990,914 |
| Other Fixed Assets | 1,440,437 |
| NCUSIF Deposit | 3,590,228 |
| All Other Assets | 346,216 |
| TOTAL ASSETS | 431,321,954 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 17,000,000 |
| Accounts Payable & Other Liabilities | 10,327,909 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 78,235,605 |
| Regular shares | 127,025,616 |
| All Other Shares & Deposits | 166,976,946 |
| TOTAL SHARES & DEPOSITS | 372,238,167 |
| TOTAL LIABILITIES | 399,566,076 |
| Regular Reserve | 0 |
| Other Reserves | -5,289,351 |
| Undivided Earnings | 37,045,229 |
| TOTAL EQUITY | 31,755,878 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 431,321,954 |
| INCOME & EXPENSE | |
| Loan Income | 17,409,753 |
| Investment Income | 1,658,955 |
| Other Income | 2,457,904 |
| Total Employee Compensation & Benefits | 10,591,890 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,194,681 |
| Non-operating Income & (Expense) | 253,485 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,247,602 |
| Cost of Funds | 3,319,388 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,176,633 |
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