Poughkeepsie, New York – April 19, 2011
More than 570 members gathered at the Grandview in Poughkeepsie on April 13, 2011 to hear that Hudson Valley Federal Credit Union (HVFCU) continues to be a safe, sound and secure financial cooperative. Chairman of the Board T.S. Jones said the credit union “met the challenges which confronted us in 2010 and are prepared to overcome the ones facing us in 2011.”
At year’s end in 2010, HVFCU had reached assets of $3 billion, a new milestone in the credit union’s 47 year history. As detailed by Mr. Jones, the credit union’s branch network grew by three locations this past year—one in Highland and two in Carmel and Brewster that were a result of a merger with the former Putnam Federal Credit Union. That merger allows anyone who lives, works, worships, volunteers, or attends school in Putnam County to now join HVFCU. Mr. Jones said, “We wish to thank Al Witte and his Board and staff for helping to make that merger painless and successful.”
The Chairman also noted that preparations are starting for a branch in Montgomery, NY, which will be the fourth one in Orange County. “We now have a series of branches in communities along the I-84 Corridor from Brewster, through Carmel, Dutchess Mall, Beacon and on to the new branch in Montgomery to better serve you, our members,” he said.
Members of the credit union re-elected three volunteers to the institution’s Board of Directors. Noreen Hennessy, Larry Prescott, and Henry Rodgers, Jr. will each serve a three year term. Following the meeting, the Board of Directors took action on the reorganization of the Board. Officers for 2011-2012 are: Chairman, T.S. Jones; First Vice Chairman, Takao Inouye; Second Vice Chairman, Larry Prescott; Treasurer, David Bagley; Assistant Treasurer, Henry Rodgers; and Secretary, Noreen Hennessy.
GUEST SPEAKER BRINGS GLOBAL PERSPECTIVE
The evening also included a speech by Andrew Busch, a recognized expert on the world financial markets and frequent contributor to CNBC’s “The Closing Bell with Maria Bartiromo,” “The Kudlow Report,” and “Money in Motion: Currency Trading.” Mr. Busch provided insight into the many recent global events in Japan, Egypt, and other areas that are impacting the US economy.
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 branches 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.