Personal & Business Loans, Free Checking: Poughkeepsie, Newburgh, NY: TEG Federal Credit Union
on Credit , Debt Reduction , Education , Financial Planning , Holidays , Money Management , Personal Loans During the holiday season, you’re likely making a list and checking it twice. But between gifts, travel, and festive celebrations, it’s easy to lose sight of holiday spending and your financial goals. This year, why not add “consolidate my debts” to your wish list? The […]
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Buying things with credit cards is quick and easy—just swipe your card and go. But for many, the ease of making purchases causes their balances to grow to unmanageable levels. If you have one or more high-interest credit cards, a personal loan can be used […]
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If you are thinking about applying for a loan, you may have encountered the term debt-to-income (DTI) ratio while researching your options. When considering applicants for a loan, lenders evaluate this ratio to make sure borrowers don’t have too much debt. Understanding the DTI ratio […]
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Trying to keep up with multiple debt payments can be a big headache. Each debt will have its own monthly due date, and some debts will have higher interest rates than others. To simplify their lives, many people consolidate their debt so they only have […]
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Carrying a lot of debt can really hold you back in life. If you try to apply for a mortgage, for example, you may be denied if you already have an expensive car payment, a student loan, and significant credit card debt. Being deep in […]
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Personal loans can be a game-changer in your spring plans. Whether you have a project in mind or want to consolidate your high-interest credit card bills into one lower, fixed-rate payment, it’s a great time to lock in your rate, and start saving today! How […]
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Buying a home is one of the most significant investments you’ll make. Low mortgage rates have made it easier for people to afford their dream homes over the last dozen years. In 2023, home mortgage rates have been soaring, causing problems for people who want […]
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What do I need to know about Adjustable-Rate Mortgages? An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. This means that your monthly mortgage payment could go up or down over the life of your loan. ARMs […]
View moreBUSINESS LOANS Local Decisions Personalized Service Flexible terms Competitive Rates Knowledgeable Experts Community Partner Not a TEGFCU Business Member Yet? Find Out if You Are Eligible for Business Membership. TEG Federal Credit Union’s Commercial Lending assists business owners with a variety of financing options. We […]
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It all starts with an auto lease buyout. Simply put, this involves you buying your car when your lease ends, instead of turning it in, beginning a new lease and getting a different car. A car lease buyout is essentially a used car loan – only this time, you’ve already been driving the vehicle for the past few years.
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Having a good credit score is critical in the age we live in. Having a low score—or no credit history—can hold you back in life. The good news is that you don’t have to live with a low credit score forever. You can use a […]
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The annual percentage rate (APR) is a term you’re likely to encounter while reviewing your mortgage options. Thankfully, it’s not difficult to understand—but what is APR exactly? Knowing how the APR works can help compare different loans to help you get the best deal possible. […]
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If you have either a home equity line of credit (HELOC) or a home equity loan, you may have considered refinancing to get more favorable terms or to save money on interest. Before you refinance, however, there are some important things to consider to make […]
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There are many perks to being a homeowner. When you buy a home, for example, the down payment and monthly mortgage payments you make help to grow your equity. Many people take advantage of their home equity by taking out either a home equity line […]
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Personal loans are among the most common financing options for borrowers. They are highly flexible, relatively easy to obtain, and the interest rates are often lower than other borrowing options, such as credit cards. If you are considering one of these loans, the following are […]
View moreAlthough interest rates have been very low for a while, they are now rising. To cool the high level of inflation we are experiencing, the Federal Reserve is raising interest rates for the first time since 2018. During the uncertain economic times we are now […]
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In just the past two years, home prices all across the nation have increased significantly. If you’ve been wondering what’s going on, the following overview can help you understand why prices are rising and how they affect your home’s equity. Why Are Home Prices Rising […]
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A common way that many homeowners borrow money is with a home equity loan. The money you borrow can be used for many different purposes, and the interest rates are usually lower than other borrowing options, like personal loans. The following overview can help you […]
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If you’ve built up some equity in your home, you might be thinking about tapping into the cash to fund renovations and anything else you have on your plate. You might also be wondering how a home equity line of credit works. A home equity […]
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You’ve probably heard it on the news – the Federal Reserve will raise interest rates this year to help slow inflation. According to many economists, we could see up to six or seven rate hikes in 2022. But what does this mean for you? Will […]
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When many find themselves in financial binds and need quick cash, they often turn to payday loans. These loans are quick and easy to obtain, and the funds are usually available the same day you apply. Although payday loans are convenient, they have some important […]
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Personal loans are among the most common and versatile loans that people apply for. They can be used for many different purposes, interest rates are fixed, and they can be obtained without collateral. Also, if you are approved for a personal loan, funds are usually […]
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When you need access to a large amount of money rather quickly, there are a few different options available, including personal loans and personal lines of credit. Both offer consumers access to funds that can be used for almost any purpose, including financing a trip, […]
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Personal loans can be a useful way to obtain extra money when you need it. For example, if you run into an emergency, you might not have the funds available to meet your needs. If you’re planning a large life event like a wedding, you […]
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If you’re in a situation where you need some extra cash to pay for expenses a personal loan could be the right solution. Click to learn how personal loans work.
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Personal loans are an excellent tool for debt consolidation, making home improvements, buying big-ticket items, and covering unexpected expenses. Personal loans are one of the most versatile loans because you can spend the money on your terms. Still, if you have a personal loan, you […]
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If you need to borrow money to make a major purchase, should you apply for a credit card? Or is a personal loan the better option? If you ask a credit union rep, they’ll say the answer depends on several factors, including interest rates, the […]
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Personal loans are an extremely versatile financial tool. However, many borrowers aren’t sure how much personal loan they can get. Every financial situation is unique. Plus, many factors go into how much you can borrow. Understanding some quick and easy basics will give you an […]
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What is a “want?” And what is a “need?” While everyone has their own wants and needs, being able to differentiate between the two can be difficult. Being able to clearly define each can help you improve your savings, which can help you build up […]
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