Local credit union granted NYS charter

POUGHKEEPSIE – Hudson Valley Federal Credit Union announced today that the New York State Department of Financial Services has approved its application to convert to a New York state-chartered credit union effective October 1, 2019. Since opening in 1963, Hudson Valley has grown to serve Dutchess, Ulster, Orange and Putnam Counties under its original Federal Charter. With the change to a New York State Charter, the credit union will now serve those who live, work, worship, attend school, or volunteer in its current four counties, as well as Albany, Columbia, Greene, Rennselaer, Rockland, Saratoga, Schenectady, and Westchester Counties.

“This is such an exciting time in our cooperative’s history,” said President and CEO Mary Madden. “Becoming a New York State chartered credit union provides a unique opportunity for Hudson Valley to build on our foundation of member trust and expand our affordable, convenient services to even more of our New York neighbors.”

Though the credit union charter is changing, account insurance will remain the same. “Our members’ accounts will continue to be insured by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund,” said Madden. While the credit union considers future branch and ATM expansions, new and existing members continue to have a myriad of other choices to access the credit union. “Our Internet and Mobile Banking systems are getting an upgrade in October,” said Madden.

For more information, visit hvcu.org.



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