Two Popular Credit Unions in the Hudson Valley Announce Merger
There will be one less credit union in the Hudson Valley thanks to a merger that was approved this month.
Mid-Hudson Valley Federal Credit Union will be merging with Bridgeway Federal Credit Union. The partnership, announced by MHV on their website, calls for the combination of both institutions, which will keep the name "Mid-Hudson Valley Federal Credit Union."
According to a press release, Bidgeway FCU was founded in 1935 as the N.Y.S. Dept. of Public Work District 8 Employees Credit Union. The financial institution was created to serve employees working for the state transportation department and public works. In 1976, the name was changed to DOT Federal Credit Union and in 2008 the bank change its name once again to Bridgeway Federal Credit Union.
According to MHV, the partnership's main goal is to "enhance the service, convenience and benefits to members of both credit unions." Currently, Bridgeway has 3 branches located at 21 Burnett Blvd in Poughkeepsie, The corner of Route 55 & 82 in LaGrange and inside the Wal-Mart in Fishkill.
Eventually, MHV members will also be able to bank at the former Bridgeway FCU branches, but that won't happen until both banking systems are merged over the next few months. MHV produced this short video to announce the merger and explain how the change will affect customers at both credit unions.
We want to know what you think about the merger. Do you believe it will benefit members of both credit unions or are you concerned with having less banking choices available?