News
October 29, 2020Sunmark Credit Union to Merge with Hudson River Financial Federal Credit Union
Sunmark Credit Union announced today that it has received approval from the membership of Hudson River Financial Federal Credit Union in Mohegan Lake, New York to merge with Sunmark Credit Union. Additionally, Hudson River Financial members approved the conversion from a federally-chartered credit union to a state-chartered one. The $70 million-asset Hudson River Financial, located in Westchester County, serves almost 7,000 members.
“Over the years we have been receiving more member requests for additional offerings, including business services, a member call center, expanded loan offerings, and more advanced technology. By merging with Sunmark, we can now offer these benefits and services to our members.” said Hudson River Financial President & CEO Thomas J. Powers Jr. He added, “Our merger with Sunmark allows our members to have the products, services, and technology they desire and deserve.”
“I am very excited to welcome Hudson River Financial members and employees to Sunmark,” said Sunmark Federal Credit Union CEO Frank DeGraw. “This merger will empower Hudson River Financial members to master their money and reach their financial aspirations with added convenience, more financial services, and leading-edge technology. It also allows Sunmark the opportunity to continue to fulfill our mission and improve the financial well-being of all persons.”
The Hudson River Financial Mohegan Lake, NY location will remain open as Sunmark Credit Union once merged. The merger is expected to be completed on November 30, 2020.
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