Hudson Heritage Federal Credit Union and MPO Federal Credit Union in Orange County recently completed the integration of their systems and services following MPO”™s acquisition last summer by Middletown-based Hudson Heritage.
The merger, approved by MCO members in May, was driven by “our desire to give members more banking products and branch locations,” Kelly Bilello, CEO of MPO Federal Credit Union, said in a press release. “We explored many options and a partnership with Hudson Heritage was the best strategic move for us and most importantly, a great opportunity for our members.”
The deal adds about 4,000 new members to HHFCU and three branch locations, for a total of 13 offices in Orange and Ulster Counties. Hudson Heritage has brought over all of MPO”™s employees and might add more staff as necessary.
“This partnership builds on the strengths of both institutions to provide important financial services and resources to the people of Orange, Dutchess, and Ulster Counties,” said Michael Ciriello, president and CEO of HHFCU. “By combining the strengths of both credit unions we”™re about to expand the services offered for both membership groups.”
Chartered in 1940 as the Newburgh Teacher’s Federal Credit Union, Hudson Heritage serves almost 25,000 members and has assets of more than $270 million.
MPO Federal Credit Union evolved over a nearly 50-year span from a series of small credit unions serving select employer groups in Orange County. It was chartered in 2011 to accept members throughout the Orange County community.
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