Hudson Valley Credit Union Charter Conversion Vote

IMPORTANT MEMBER NOTIFICATION – HVCU APPLIES FOR FEDERAL CHARTER

Hudson Valley Credit Union (HVCU) has applied to become a federally chartered credit union regulated by the National Credit Union Administration (NCUA). Our change to a state charter in 2019 allowed us to grow geographically at a time when the federal charter was more restrictive. Now that we have developed additional scale and capabilities, converting back to a federal charter will streamline our regulatory oversight, maximize our flexibility, and ensure that the credit union remains sound and stable.

WHAT WILL CHANGE – AND WHAT WILL NOT

This charter change will not affect your membership. We will continue to operate as Hudson Valley Credit Union, which means all signage, members’ checks, as well as your debit and credit card will remain the same. There is also no need to change account numbers. Legal documents such as account agreements and loan disclosures will be updated for future use, and our internal teams are already preparing for a smooth transition.

Perhaps the biggest change is how new members can join HVCU. Our federal charter will allow members of three organizations - the HVCU Charitable Foundation, the American Consumer Council, or the Community Impact Fund – to join our cooperative, so geography is no longer a concern for those who live outside our current 13 counties.

MEMBER VOTE REQUIRED

As part of the conversion process, members must vote to approve the change. Below are instructions for how to vote online, by phone, or at an in-person meeting, as well as a set of questions we anticipated you may ask. Please email community@hvcu.org with any other questions you have prior to the special meeting or call us at 800.468.3011.

Thank you for continuing to place your trust in us as we help even more members strive for financial freedom. Your Board of Directors and Executive Management Committee appreciate your support as we make this important change to strengthen our cooperative.