Hudson Valley Credit Union (Formerly Hudson Valley Federal Credit Union) is a credit union serving the New York counties of Dutchess, Orange, Ulster, Putnam, Rockland, Westchester, Greene, Columbia, Albany, Rensselaer, Schenectady, and Saratoga.[1] Initiated in 1963 in Poughkeepsie, New York, the institution has 287,000+ members and more than 800 employees as of March 2017.[2] HVCU is one of the largest credit unions in the United States with assets totaling more than $5.95 billion as of June 2020.[3][4]
| Company type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | IBM Poughkeepsie Employees Federal Credit Union, Poughkeepsie, New York, (1963) |
| Headquarters | Poughkeepsie, New York, United States |
Key people | Jonathan Roberts, President & CEO |
| Total assets | $5.95 Billion USD |
Number of employees | 800+ As of March 2021[update] |
| Website | hvcu.org |
Mary Madden was CEO from May 2002 until September 2022, being succeeded by Jonathan Roberts.[5]
History
editThe credit union was initiated in October, 1963, by some IBM employees in Poughkeepsie and Fishkill, New York. Membership requirements were changed to allow those who live, work, worship, volunteer, or attend school in Dutchess, Orange, or Ulster counties to join the credit union as of 2003.[6]
The credit union was originally chartered federally. A state charter was granted September 4, 2019.[7] As a result, HVCU now services 12 counties, as opposed to four before the charter conversion. The credit union's name was changed from Hudson Valley Federal Credit Union to Hudson Valley Credit Union on October 4, 2019.[8]
On January 10, 2024, HVCU announced that Catskill Hudson Bank would be merging its 7500 clients, 100 employees, and 11 branches into the credit union, expanding its reach to Sullivan County and the New York State capitol region.[9]
Recognition
editThe credit union was named in 2015 as a workplace with good employee benefits.[10]
References
edit- ^ "Latest News About HVFCU | Hudson Valley Credit Union". www.hvfcu.org. Retrieved 2019-10-05.
- ^ "Hudson Valley Federal Credit Union praised for employee benefits". Daily Freeman. October 2015. Retrieved March 18, 2018.
- ^ "Biggest US Credit Unions by Asset Size (2018)". MX. 2018-03-20. Retrieved 2019-01-20.
- ^ "Credit Union Details". mapping.ncua.gov. Retrieved 2021-01-01.
- ^ "Company Overview of Hudson Valley Federal Credit Union". Bloomberg. 2018. Retrieved March 18, 2018.
- ^ "Hudson Valley Federal Credit Union Membership". Archived from the original on 2010-06-21. Retrieved 2010-04-12.
- ^ "Press Release - September 4, 2019: Superintendent of Financial Services Linda A. Lacewell Announces Approval of Conversion of Hudson Valley Federal Credit Union to a New York State Charter". Department of Financial Services. Retrieved 2019-10-06.
- ^ Brandi. "Hudson Valley Federal Credit Union Changes Its Name". 92.7/96.9 WRRV. Retrieved 2020-06-12.
- ^ "Catskill Hudson Bank is Merging into HVCU | Hudson Valley Credit Union". HVCU. Retrieved 2024-01-12.
- ^ "Hudson Valley Federal Credit Union praised for employee benefits". Daily Freeman. October 2015. Retrieved March 18, 2018.