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MHV Receives Expansion Approval

Sep 26, 2019

Mid-Hudson Valley Federal Credit Union (MHV) has received approval of its community charter expansion by the National Credit Union Administration. The approval now enables MHV to expand its membership to individuals and businesses who live, work, worship, or attend school in the counties of Westchester, Rockland, Putnam, and Sullivan, New York.

MHV was originally founded as the IBM Kingston Employees Federal Credit Union in 1963. Then in 2002, the credit union converted to a community charter to serve the counties of Ulster, Dutchess and Orange, New York. MHV currently has $1.1 billion in assets and provides financial services to over 79,000 members. MHV offers both traditional banking products and services as well as a wide selection of educational tools and resources to guide its members on their individual financial journeys. The Credit Union currently has 13 branch locations and expanded-hours Personal Teller service from 6am to 11pm daily.

“The opportunity to offer the financial guidance, low cost products and valuable services that people need to more residents of the Hudson Valley is incredibly exciting,” MHV’s President and CEO Wayne Winkler said. “We’ve embraced the Credit Union philosophy of people helping people for 56 years. Now we have the chance to support an even greater number of local communities.”

“This expansion is the next step in our own journey,” concludes Winkler. “We’re grateful for the success we’ve had in the communities of Ulster, Dutchess and Orange Counties and are looking forward to forging equally strong partnerships with our expanded charter.”

Questions & Answers:

Is your name changing?

No, we are remaining Mid-Hudson Valley Federal Credit Union, or MHV.

Why is MHV pursuing an expansion?

Central to our core values is providing the financial guidance people across the Mid-Hudson Valley need. We see this as an opportunity to provide that guidance to even more people and continue to create solid financial foundations in our communities. In addition, expanding membership eligibility to a greater number of people will help MHV sustain growth without sacrificing our commitment to financial soundness and stability. 

Will there be any visible changes to current members?

No, our products, services, and resources are remaining the same and will simply be offered to more residents of the Hudson Valley. 

What areas will you now serve?

MHV will now be able to serve anyone who lives, works, worships or attends school in the counties of Ulster, Dutchess, Orange, Sullivan, Putnam, Rockland and Westchester. 

Will you open additional branches?

With the expansion approval, we will be conducting a careful analysis of the counties we now serve. As always, any decisions on additional branch locations will be made in the best interest of all of our members.

Am I eligible to join MHV now?

If you live, work, worship or attend school in any of the counties we now serve (Ulster, Dutchess, Orange, Sullivan, Putnam, Rockland and Westchester) you are welcome to join MHV at any time!