The Hudson River Teachers Federal Credit Union recently opened its 4,000-square-foot corporate headquarters and service center in Mohegan Lake.
In a move from Cortlandt Manor, the 72-year-old credit union now serves more than 6,000 members, 35 school districts and 50 groups in total.
Construction costs at 3563 Mohegan Ave. were approximately $1.5 million, said Debbie Lindsay, spokeswoman.
The facility houses private loan offices and full teller services.
“We have payroll deduction to pay teachers”™ loans,” Lindsay said. “Teachers are really big on that because it continues over the summer.”
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Scholarship programs are made available for youth in member school districts as well as programs promoting positive spending habits through the CU Succeed Teens Financial Network.
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The member-owned, cooperative financial institution operates in the same manner as a traditional credit union.
“We offer everything from personal loans to mortgages and savings accounts and IRA accounts,” Lindsay said. “To join, you have to fall within a certain field of membership.”
Members range from the city of Peekskill Police Department to nonprofit schools, such as New York School for the Deaf and Abbott House in Irvington.
“We are all very excited about our new headquarters and the added level of convenience it will provide our members,” said Thomas Powers, chief executive officer. “It”™s a great investment for our members and will help us to continue the success and growth of our credit union for many years to come.”
The financial institution currently has about “$33 million or $34 million in assets and is growing,” Lindsay said.
School districts served include Hastings-on-Hudson, Dobbs Ferry, Irvington, Tarrytown, Sleepy Hollow, Ossining, Peekskill, Croton-on-Hudson and Ardsley.
