Caring for our Members
We understand the Covid-19 outbreak may cause financial challenges for some of our members and we’re here to help you.
As we continue to deal with COVID-19 (Coronavirus), please know that service to you in this time of uncertainty is our primary focus. To maintain communication with our membership we have created this page to keep you updated on the steps we are taking to ensure business continuity. To this end, please check back often for updates.
We're Here to Help
We understand that sometimes “life” happens to everyone and recognize the impact that the COVID-19 virus is having on our members. We are committed to supporting you through this pandemic. If you are struggling to pay your bills, TEG Federal Credit Union wants you to apply for financial assistance so that we may be able to help you by providing temporary relief.
When you apply, we will:
Work with you to determine the solution that is right for you, whether your situation is a temporary hardship or a permanent situation. We can help with a variety of workout options depending on the type of loan you have, from deferring payments, a forbearance agreement, a repayment plan, or even a modification.
Start by sending us your information as requested below:
Skip-a-Pay Program: If your income has been effected by coronavirus and want to see if your loan is eligible for a skip-a-pay please contact us by clicking here. If you have exhausted your two eligible skips please fill out our TEG Hardship Assistance Program form below.
Hardship Relief for Existing Loans: If you are struggling with your current TEG loan, we encourage you to complete the TEG Hardship Assistance Program form and budget and submit these via Docusign.
Mortgage Relief: In order to be considered for a 90-day forbearance or payment modification, you must first let us know about your circumstances and how you are impacted. Deferment is not automatic. If you’re concerned about your ability to make your mortgage payment due to COVID-19 please visit our mortgage assistance page to learn more.
Commercial Loans: If you are interested in talking to someone about a commercial loan/line of credit or mortgage forbearance as related to the COVID-19 crisis please email Businessloans@tegfcu.com. Be sure to include your name, email, primary phone number, business name and address and how your business is experiencing hardship due to the Coronavirus.
Rental Assistance Program: Renters impacted by the pandemic can apply to a new COVID Rental Assistance Program. The program will provide direct aid for tenants who lost income due to the COVID-19 pandemic and is funded through the Coronavirus Relief Fund, which is part of the CARES Act. New Yorkers can access program applications here starting on Thursday, July 16.
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