Kingston, NY – August 26, 2009

Rural Ulster Preservation Company (RUPCO) has received a $500 unrestricted fund donation and a commitment to partner on financial education programs from Hudson Valley Federal Credit Union. The donation will help the organization meet a wide variety of timely housing concerns throughout the county. The education programs will help county residents avoid many of the pitfalls they might encounter in trying to buy and maintain a home. In a ceremony at the credit union’s Ulster Avenue, Kingston office, Branch Manager Patrick K. Mason, presented a check to RUPCO and spoke about the credit union’s commitment to the community.

“The types of services RUPCO offers – from education and counseling to housing and community development – are more important than ever throughout the entire county,” said Mason. “In really difficult economic times, RUPCO is making a positive difference and helping
to prevent financial crises that could be really devastating not just to families but to the communities in which they live.” Mason, and
Kathryn A. Ferrusi, HVFCU’s Senior Community Relations
Coordinator, agreed to take an active role in helping to provide institution-neutral educational materials and trainers to assist
RUPCO staff and clients.

RUPCO Director Kevin O’Connor acknowledged Mason’s comments and spoke about the fact that the situation in the Hudson Valley would be much worse than it is if financial institutions like HVFCU had not stepped up to help. “In tough times, our services are more needed than ever but the resources available to provide those services tend to tighten,” O’Connor said that last year, RUPCO helped 34 families buy their first homes ever, despite the tough economy, and that 75 housing rehabilitation jobs had been completed. “Together, just those two programs delivered nearly $2 million directly into the Ulster County economy. And statistics show that people who have gone through homebuyer education and counseling programs are far less likely to face foreclosure than people who buy without having received that education.”

As a leading agency in housing and community development, RUPCO advocates for and creates housing choice in the Hudson Valley region. A broad approach toward mission and vision, allows RUPCO to leverage federal, state and local grants along with rents, fees, private support and sponsorships to achieve community goals. Through its NeighborWorks HomeOwnership Center, its Rental Assistance Department and its Property Management unit, RUPCO does more than just put a roof overhead for thousands of county residents each month. More information on RUPCO and all of its programs is available at or by calling 845.331.2140.

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