If you’re a current member or eligible for membership, TEG can help you establish a credit history with one of our First Time Borrower Loans. We’ll get you started the right way with advice on what you can afford and how to establish good credit.

A cosigner is not required, and you can use a First Time Borrower Loan for almost any purpose.

Loan Specifications

  • Minimum amount: $500
  • Maximum amount: $1,000
  • .25% discount for automatic transfer method of payment


  • Must have a consistent source of income for at least 6 months
  • No credit history on the credit report
  • Debt-to-income ratio (DTI) of 35% or less, including housing expense
  • Proof of income required
  • References required

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We also offer First Time Borrower Vehicle Loans.

If you need a loan but have a difficult credit history, our Fresh Start Loan might be a better fit for you.

For assistance, more information, or rates, give us a call at (845) 452-7323 or visit any of our branch locations. We’ll be happy to help you!