Company Research Report: Hudson Valley Credit Union (HVCU)

Company Overview

Name

Hudson Valley Credit Union (HVCU)

Mission of the Company

HVCU's mission is to provide affordable products and convenient services that help individuals succeed financially through every stage of life. Their purpose is to partner in building successful futures for individual members, employees, and the entire community, fostering financial freedom.

Founded

HVCU was founded in October 1963.

Founders

A group of IBM employees envisioned and established HVCU as IBM Poughkeepsie Employees Federal Credit Union.

Key People in the Company

Jay Pantaleo: Chair of the Board

Keith Baskett: Vice Chair

Janine S. Daughtry: Treasurer

Benjamin Smith: Secretary

Other Directors: Henrietta Akpata, Nancy K. Boehm, Wesley J. Lee, Karen McFarlane, Alisa Swire

Associate Board Member: Juhi Saha

Supervisory Committee Members: Allen Olsen (Chair), Justin Gallo (Secretary), Silvio Balzano, Jean Claude Kallab

Headquarters

HVCU is headquartered in Poughkeepsie, New York.

Number of Employees

No information is available on the total number of employees.

Revenue of the Company

No information is available on the company's revenue.

What the Company is Known For

HVCU is known for being a community-based financial cooperative, providing a comprehensive range of financial products and services tailored to both personal and business needs.

Products

Overview

HVCU offers a diversified portfolio of financial products and services for personal and business needs.

Personal Products

Credit Cards

Savings Accounts

Checking Accounts

Mortgage Loans

Vehicle Loans

Insurance Services

Retirement & Financial Planning

Business Products

Business Credit Cards

Business Checking Accounts

Commercial Real Estate

Lines of Credit

Business Insurance Services

High-Level Description and Key Features

Credit Cards: Provide transactional ease and financial flexibility.

Loans: Home Equity Loans or Line of Credit options are available for home renovations, debt reduction, and more.

Insurance: Various insurance products offered through InsureOne Insurance Services America, LLC.

Online and Mobile Services: Include internet banking, mobile banking, and bill pay for convenient financial management.

Recent Developments

New Partnerships and Mergers

Acquisition of Catskill Hudson Bank: A community bank with $500 million in assets, merging into HVCU to expand services to Sullivan County and enhance product offerings to small businesses and personal account holders.

New Product Launches or Developments

No information is available on new product launches.

Recent Innovations or Feature Additions

HVCU has relocated or opened nine new branches in the Capital Region, enhancing accessibility for members in this area.

Other Developments

Board Elections for 2024: New officers and board members have been announced, ensuring continued governance and strategic oversight.

Scholarships and Community Support: HVCU has continued its engagement with the community through educational scholarships and significant charitable donations via the grant program, supporting diverse non-profit initiatives.

This detailed report outlines Hudson Valley Credit Union's firm commitment to community development, expansion through strategic mergers, and continued growth of financial services tailored to meet the needs of both local individuals and businesses.