Hudson River Financial and Columbia-Greene Federal Credit Union Members Approve Merger With Sunmark
Sunmark Credit Union has received approval from the membership of Hudson River Financial Federal Credit Union and Columbia-Greene Federal Credit Union to merge with Sunmark Credit Union. Members from both credit unions also approved the conversion from a federally-chartered credit union to a state-chartered credit union.
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.”
The $36 million-asset Columbia-Greene FCU, located in Hudson, NY serves 5,000 members.
“As the recent vote shows, our members value having a partner that will offer them enhanced financial products and services," said Victoria Marrone Ph.D., CEO of Columbia-Greene Federal Credit union "We look forward to this exciting next chapter in our institution’s history, and appreciate all of our members who cast their vote."
“I am very excited to welcome Hudson River Financial and Columbia-Greene members and employees to Sunmark,” said Sunmark Credit Union CEO Frank DeGraw. “The mergers will empower Hudson River Financial and Columbia-Greene 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.”
Columbia-Greene FCU locations in Hudson and Coxsackie and the Hudson River Financial Mohegan Lake, NY location will remain open as Sunmark Credit Union once merged. The mergers are expected to be completed on December 31, 2020.