Popular Credit Union Acquires 11 New York Bank Branches

Hudson Valley Credit Union has announced they are taking over 11 bank branches in five New York counties including branches in Kingston, Ellenville, Middletown, Rock Hill, Grahamsville, Monticello, Liberty, and Callicoon, New York.

The Hudson Valley is one part of New York that has numerous options when it comes to banking. Yes, we have the traditional banks that other areas of the country have but we also have a few options when it comes to credit unions.

Hudson Valley Credit Union

One of the Hudson Valley's more popular credit union choices is the Hudson Valley Credit Union. They currently have 21 regional branches and offer members the use of 85,000+ surcharge-free nationwide ATMs according to their website. The number of branches is set to increase to over 30 in the next few months as the credit union has announced that they have agreed to acquire Catskill Hudson Bank.

Credit Union Merging With Catskill Hudson Bank

The merger was announced to members of the Credit Union by Jonathan Roberts, the President and CEO of Hudson Valley Credit Union by email saying,

"I am pleased to announce we have entered into an agreement to acquire Catskill Hudson Bank and merge them into our financial cooperative."

Catskill Hudson Bank Sold

The announcement also shared some stats about the Catskill Hudson Bank acquisition saying, "A $500 Million community bank headquartered in Kingston, NY, Catskill Hudson was established in 1993 and currently serves 7,500 customers across 11 branches in Sullivan, Orange, Ulster, Saratoga, and Albany Counties. This merger will benefit their consumers, small businesses, and employees as well." Catskill Hudson Bank has branches in Kingston, Ellenville, Middletown, Rock Hill, Grahamsville, Monticello, Liberty, and Callicoon.

Mario Martinez, Catskill Hudson Banks CEO informed bank customers of the merger on the bank's website saying,

"Today, we are announcing that we have agreed to merge into Hudson Valley Credit Union, a $7 billion financial cooperative with just over 1,000 employees and more than 355,000 members (customers) that is headquartered in Poughkeepsie."

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Martinez continued saying that current bank customers will experience no changes at this time, "account numbers, products, service, and branch locations will remain in place until we fully integrate the two intuitions." He also said that HVCU is committed to retaining all bank employees, "We are confident that the people you have come to rely on for years will continue to serve you as we move forward", said Martinez.

When more information about the merger becomes available we will update this article.