Poughkeepsie, New York – April 1, 2011
Hudson Valley Federal Credit Union (HVFCU) announced that the Federal Reserve Bank of New York has chosen HVFCU President/CEO Mary D. Madden to serve on its local advisory panel reporting to the national Community Deposit Institutions Advisory Council (CDIAC). Ms. Madden will participate in sessions aimed at cementing closer “grassroots” ties between Federal Reserve staff in Washington and community banks and credit unions.
“As I understand it,” said Madden, “what we discuss will be passed on to the Fed Board in Washington in kind of a ‘feeder’ system.” The local advisory panel will discuss such issues as the current conditions for loan markets and financial markets in general, regional economic conditions and how they’re affecting community institutions, and regulatory matters. Their first meeting was March 25th, and the local panel is slated to report back later this spring to the larger CDIAC in Washington.
HVFCU is a full service, not-for-profit financial cooperative, offering real estate and consumer loans, a wide variety of savings and transactional accounts, investment services, estate planning, trust services and business services. Property and casualty insurance is available through the Insurance Agency of the Hudson Valley, a subsidiary of HVFCU.
With more than $3 billion in assets, HVFCU serves its members through 20 branch locations in Dutchess, Ulster, Orange, and Putnam Counties, a nationwide network of 72,000 surcharge-free ATMs, Internet banking, online bill payment, and 24-hour account access by telephone. HVFCU is federally insured by the NCUA and is an Equal Housing Lender.