Hudson Valley Federal Credit Union has merged with Putnam Federal Credit Union.
The former Putnam Federal Credit Union offices in Carmel and Brewster will operate under the HVFCU name effective July 1.
“Over the past several years, it became increasingly apparent that small financial institutions such as ours have been unable to keep up with our members”™ evolving needs for additional products and services as well as the ways in which they are made available to our members,” said Albert R. Witte, former chairman of the board of directors of Putnam Federal Credit Union, in a statement.
Witte said many of the credit union”™s members hold accounts with HVFCU, which “made the merger all the more practical.”
Hudson Valley Federal Credit Union operates 15 branches in Dutchess, Orange, Ulster and Putnam counties.
There are four branches at IBM facilities in Dutchess.
