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HUDSON VALLEY CREDIT UNION
POUGHKEEPSIE, NY · EIN 141471439 · Form 990 · FY2024 · NTEE W61 · Public & Societal Benefit · Very Large (>$50M) · hvfcu.org
revenue
$424.1M
expenses
$402.0M
net assets
$433.0M
employees
1,195
volunteers
20
mission · from form 990

STATE CHARTERED CU THAT PROVIDES FINANCIAL, INSURANCE AND BANKING SERVICES TO ITS MEMBERS.

profile · synthesized from sources

State-chartered credit union providing financial services including savings accounts, credit cards, and loans to its members in the Hudson Valley region of New York. Offers a range of consumer financial products with competitive rates and no-fee options, serving individuals and families across multiple life stages. Operates as a member-owned financial cooperative with accounts insured by the NCUA.

named programs · 4 · from sources

What they call their work

College Savings Account
Encourages youth savings with annual bonus incentives tied to deposit milestones and balance growth for members under 18.
Mortgage Savings Account
Helps members save toward homeownership by offering up to $1,000 in closing cost credits when financing a mortgage with HVCU.
Savings Accounts
Provides various savings options including primary savings, Premier Savings with tiered interest rates, College Savings, Mortgage Savings, Holiday Club, and Coverdell Education Savings Accounts.
Visa Credit Cards
Offers multiple credit card products including Signature, Platinum, Rewards, and Cash Rewards cards with no annual fees, cash back, and bonus points for spending.
activities · 3 groups

What they do

  • Credit Union Financial Services 8 activities
    • Facilitating account access and transaction convenience
      Enables convenient account access through 40 branch locations, participation in the Co-op Shared Branch Network, over 85,000 surcharge-free ATMs via Allpoint, Co-op, and Presto networks, daily withdrawal limits of $750, and fee-free transactions at non-HVCU ATMs depending on account type.
    • Issuing credit cards with rewards and incentives
      Offers multiple credit card options including Visa Signature and Visa Platinum Rewards cards with bonus points, cash rewards up to 1%, 2x reward points per dollar spent, no annual fees, and secured credit cards based on refundable deposits designed to help members build or rebuild credit.
    • Offering account holder benefits and incentives
      Provides financial incentives to Premier Checking account holders, including a 0.25% interest rate reduction on loans with automatic payments and a $350 statement credit at the time of mortgage closing for primary account holders.
    • Offering specialized savings and checking accounts
      Provides a variety of savings and checking accounts tailored to different life stages and goals, including Teen Checking Accounts (ages 13–17), College Savings Accounts for minors, Holiday Club Accounts with seasonal payouts, Mortgage Savings Accounts offering lender credits, Coverdell Education Savings Accounts for tax-free educational funding, and primary savings accounts with minimal balance requirements enabling lifelong membership.
    • Providing account opening and funding options
      Offers three options for funding new personal accounts: using a credit/debit card, transferring funds from another financial institution, or transferring from an existing HVCU account.
    • Providing financial and banking services to members
      Offers a full range of financial, insurance, and banking services including savings and checking accounts, loans, mortgages, credit cards, and investment products to its members across the Hudson Valley and Capital Region. Services are supported through physical branches, shared branching networks, and surcharge-free ATM access nationwide.
    • Providing personal and vehicle loan products
      Offers a range of loan products including personal loans (Readi-cash Lines of Credit, signature loans, secured loans), Personal Assistance Loans (PAL & PAL Plus) with no credit check, vehicle loans for automobiles, trucks, motorcycles, boats, and recreational vehicles, as well as home equity lines of credit and solar panel financing.
    • Supporting membership through charitable foundation affiliation
      Allows individuals to gain membership eligibility through affiliation with the HVCU Charitable Foundation, expanding access to credit union services beyond traditional criteria.
  • Financial Aid and Scholarship Access Programs 1 activity
    • Funding scholarships for members and students
      Awards scholarships through the annual Scholarship Program, providing financial support to members and students pursuing higher education.
  • Financial Literacy Education Programs 1 activity
    • Operating student-powered credit union at Marist University
      Operates Marist Red Fox Financial, a student-powered credit union on the Marist University campus that provides experiential learning opportunities for students while delivering financial services to the university community.
financials · form 990 · fy2024
revenue
Total revenue$424.10M
Contributions & grants$00%
Program service revenue$325.49M77%
Investment income$98.61M23%
Other revenue$2K
expenses
Total expenses$402.02M
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$109.07M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$7.45B
Cash$672.25M
Investments$2.11B
Liabilities$7.02B
Net assets$433.00M
Liquid reserves83.2 mo
1 years on record · 2024–2024
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 15
NameTitleHours/wkCompensation
JONATHAN ROBERTS PRESIDENT CHIEF EXECUTIVE 40 $3.85M
MARK TIMMERMAN EVP/CRO 40 $1.27M
SCOTT VAN ZANDT EVP/CHIEF FINANCIAL OFFICER 40 $1.23M
RICHARD LIONHOOD EVP/CBO 40 $1.20M
DIANE ALLENBAUGH FORMER EVP/CPO 40 $1.19M
JOHN FEDE EVP/CIO 40 $767K
CHRISTOPHER KIEFFER EVP/CSO 40 $651K
AMY JAKOBEIT EVP/CMO 40 $591K
MATTHEW GIORGI FINANCIAL CONSULTANT II 40 $586K
ANTON ROHRMEIER FORMER EVP/COO 40 $552K
GREGORY ANTONAKOS FINANCIAL CONSULTANT II 40 $527K
CHRISTOPHER CANTELE AVP WEALTH MANAGEMENT 40 $524K
LYNDA BEISNER FINANCIAL CONSULTANT II 40 $507K
DESIREE WOLFE EVP/CXO 40 $500K
TROY DEL VALLE VP/DATA PLATFORM ARCHITECT 40 $427K
board members · 10
  • ALISA SWIRE — DIRECTOR
  • BENJAMIN SMITH — SECRETARY
  • HENRIETTA AKPATA — DIRECTOR
  • JANINE S DAUGHTRY — TREASURER
  • JAY PANTALEO — CHAIRMAN OF THE BOARD
  • JUHI SAHA — ASSOCIATE BOARD MEMBER
  • KAREN MCFARLANE — DIRECTOR
  • KEITH BASKETT — VICE CHAIRMAN
  • NANCY K BOEHM — DIRECTOR
  • NANCY KAPPLER-FOSTER — DIRECTOR EMERITUS
relationships · 15

Who they work with

  • Allpoint Network — Member of the Allpoint ATM network, providing surcharge-free access to over 55,000 ATMs nationwide.
  • American Consumer Council Partner — Allows individuals to become affiliated members of HVCU through membership in the American Consumer Council.
  • American Consumer Council Partner — Allows individuals to become affiliated members of the credit union through membership in this council.
  • Co-op Shared Branch Network Network — Member organization enabling shared branch access for members.
  • Co-op Shared Branch Network Network — Participates in the Co-op Shared Branch Network to enable members to conduct transactions at shared branches nationwide.
  • Community Impact Fund Partner — Allows individuals to become affiliated members of HVCU through membership in the Community Impact Fund.
  • Community Impact Fund Partner — Allows individuals to become affiliated members of the credit union through membership in this fund.
  • Consumer Financial Protection Bureau Government — Directs members to the Consumer Financial Protection Bureau for educational resources on credit card use and financial decision-making.
  • HVCU Charitable Foundation Partner — Enables individuals to join the credit union through affiliation with the foundation.
  • HVCU Charitable Foundation Partner — Enables membership access for individuals through affiliation with the foundation.
  • Marist University Partner — Collaborates to operate Marist Red Fox Financial, a student-powered credit union on campus.
  • National Credit Union Administration Government — Federally insures HVCU accounts up to $250,000
  • National Credit Union Administration Government — Provides federal share insurance coverage for HVCU accounts up to $250,000.
  • Presto Network — Member of the Presto ATM network, offering surcharge-free access to ATMs in Publix Super Markets across multiple southeastern states.
  • Visa International Service Association Partner — Hudson Valley Credit Union issues Visa-branded credit cards under license from Visa International Service Association.
strategies · 3

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Experiential Learning Partnership
    methodology: experiential-learning-partnership
    By integrating student-operated financial services into credit union operations, we produce enhanced financial capability and engagement among young adults because hands-on experience fosters deeper understanding and long-term behavior change.
  • Financial Resilience Through Savings
    methodology: financial_resilience_through_savings
    By promoting accessible and tiered savings accounts as foundational tools, we help members build financial resilience including emergency funds, because structured saving with progressive incentives supports sustained financial progress.
  • Inclusive Membership Model
    methodology: inclusive_membership_model
    By lowering barriers to entry through a charitable foundation pathway, we expand financial inclusion and increase membership diversity because access to credit union services enables underserved individuals to build financial stability.