Poughkeepsie, NY – October 1, 2009
Hudson Valley Federal Credit Union (HVFCU) announced today that Hudson Valley Federal Credit Union has been named one of the nation’s best credit unions, according to Bauer Financial.
Bauer Financial, which is based in Florida, has been analyzing and reporting on the financial condition of the nation’s financial services industry since 1983. It has developed a reputation as the nation’s credit union and bank rating service. In order to rate credit unions, Bauer Financial obtains financial reports that are filed with the National Credit Union Administration (NCUA). After thorough analysis, Bauer Financial assigns a star rating based on a scale of zero to five stars, with five being the strongest. Hudson Valley Federal Credit Union has been awarded a five star rating.
The ratings are derived upon reviewing capital, historical trends, loan delinquencies, differences in the book and market values of the investment portfolio, profitability, repossessed assets, reserves, charge-offs, regulatory compliance and asset quality. Bauer Financial employs conservative measures when assigning these ratings and consequently the ratios will often be lower than those supplied by other analysts or the institutions themselves.