Hudson Valley Credit Union Review

GOBankingRates Score

Our Take: Hudson Valley Credit Union offers a wide range of flexible banking products for its members. Plus, there are no monthly fees and very few requirements to open and maintain your accounts.
  • Rates
  • Fees
  • Products
  • Banking Experience
How did we calculate this?


  • Wide range of consumer banking products to choose from
  • No monthly maintenance fees
  • Low minimum balance requirements for opening or maintaining accounts


  • More competitive APY may be found elsewhere

About Hudson Valley Credit Union

Originally founded in 1963 as IBM Poughkeepsie Employees Federal Credit Union, Hudson Valley Credit Union is more than 50 years strong. HVCU is a community-based financial institution that stands out for its local feel and dedication to serving multiple counties in New York. The credit union prides itself on convenient services and affordable financial products to make each stage of its customers’ financial lives easier. Because of this, GOBankingRates named Hudson Valley Credit Union one of the Best Credit Unions of 2021 in its annual Best Banks rankings.

Hudson Valley Credit Union Products

Hudson Valley Credit Union offers a wide range of banking products to make it easier for consumers to manage their finances. You can get started with a basic checking and savings account and expand your accounts as needed.

Product Type Best for
Checking No minimum balance or monthly fees
Savings Overdraft protection and collateral
Money Market Low opening balance and no monthly maintenance fees
CD’s Flexible terms and a $500 minimum deposit
Teen Checking Account No minimum balance or monthly fees
College Savings Annual bonuses for hitting savings goals
HSA Checking Account No minimum balance or per-check fees

Hudson Valley Credit Union Checking Account

When you open a checking account with HVCU, you’ll receive a free Visa debit card and access to over 85,000 ATMs. No minimum balance is required, and HVCU doesn’t charge any monthly fees.


  • No monthly fees
  • No minimum balance
  • Over 85,000 free ATMs
  • Visa Debit Rewards card
  • Mobile app with check deposit
  • Points on qualified transactions via HVCU rewards


  • No minimum balance required
  • No monthly fees
  • Earn points for using your HVCU Visa Debit card
  • Two free boxes of custom checks annually
  • Account monitoring and alerts


  • Overdraft fees apply

Hudson Valley Credit Union Savings Account

Once you open a savings account with HVCU, all it takes is a daily balance of $0.01 to maintain your HVCU membership. Here’s more.


  • No minimum balance required to open the account
  • 0.03% APY
  • Over 85,000 free ATMs nationwide
  • Available as an Individual Retirement Account
  • Insured by the National Credit Union Share Insurance Fund to $250,000


  • Up to 15 free foreign ATM transactions for those who hold both a checking and savings account
  • May be used for overdraft protection
  • May be used as collateral for a loan


  • Higher APYs may be available elsewhere.

Hudson Valley Credit Union Money Market Account

You can open a money market account for just $1,000. As you’re ready to save more, access HVCU’s tiered money market accounts. The account comes with an APY that ranges from 0.08% to 0.17%, depending on account balance.


  • No opening fee
  • No monthly fees
  • $1,000 opening deposit
  • 0.08% to 0.17% APY, depending on balance
  • Over 85,000 free ATMs nationwide


  • Higher yields than a savings account
  • Four balance tiers for higher return
  • No monthly fees


  • Higher APYs may be available elsewhere.

Hudson Valley Credit Union CD Rates

HVCU CDs offer low minimum deposits and flexible terms to help you meet your financial goals. Plus, you can sign up to receive a text or email alert when your CD matures.


  • Minimum deposit requirement of $500
  • APY ranges from 0.15% to 0.95%
  • Available as an IRA
  • Can be used as collateral for a loan
  • Term limits from three to 60 months


  • Generous APY
  • Higher yields than a savings, checking or money market account
  • Low minimum deposit requirements
  • Wide range of flexible terms


  • You won’t be able to access this money in an emergency since the funds are locked away for the length of the CD term.

Banking Experience

If you’re looking for a combination of online and in-person banking, HVCU is a good option. The credit union has 20 branch locations in 19 different cities across New York. Customers can also access over 85,000 free ATMs.

Mobile Experience

For a robust online experience, you can use the HVCU mobile app to deposit checks and transfer money, on the go. Plus, you can sign up for free account monitoring and notifications to alert you of events like account balance changes and ATM withdrawals.

The HVCU app has a 4.8 rating on the App Store and a similar rating on the Google Play store.

How To Open an HVCU Account

You can open an account at HVCU online or at one of the branch locations. When opening an account online, you’ll need to open a primary savings account first before opening any other of HVCU’s account offerings.

You’ll also need to provide one of the following forms of identification:

  • State driver’s license
  • State non-driver’s ID
  • Passport
  • Military ID
  • Permanent Resident Card (I-551)
  • Employee Authorization Card (I-766)

Once you’re approved as a member, you’ll also need to complete a signature verification card for the credit union to keep on file.

Key Information

Customer Service Hours:  Weekdays from 8 a.m.-7 p.m. ET; Saturdays from 9 a.m to 5 p.m. ET

Customer Service Number: 845-463-3011

Routing Number: 221979363

Hudson Valley Credit Union Fees

While HVCU doesn’t have as many fees as the typical bank, it’s not completely fee-free. Here’s a breakdown of the fees you can expect.

Fee Type Fee Amount
Monthly Maintenance Fee None
Overdraft Fee $34 from debit card, $5 from savings
Wire Transfer Fee Outgoing: $25 domestic, $40 international

Incoming: $10

NSF Fee $34

Final Take

Hudson Valley Credit Union is a great option for anyone looking for a more personalized banking service. You can access one of HVCU’s 20 branch locations and access over 85,000 ATMs nationwide. Becoming an HVCU member is relatively easy, and there are few requirements for opening and maintaining your accounts. And best of all, there are no monthly maintenance fees.

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    Editor’s Favorite

    When it comes to financial institutions, HVCU’s low monthly balance requirements and zero maintenance fees are the exception — not the rule. Plus, the credit union offers a variety of accounts and options, so you can do all your banking in one place.


    Here are answers to some commonly asked questions about Hudson Valley Credit Union.
    • What is Privilege Pay?
      • Privilege Pay allows members to avoid NSF fees. It’s a form of overdraft protection designed to keep your checks and payment from being returned. Privilege Pay is not available for ATM transactions.
    • Is Hudson Valley Credit Union FDIC-insured?
      • Yes, your account is FDIC-insured for up to $250,000.
    • Are there deposit limits for mobile deposit?
      • You can deposit $10,000 per day and up to $30,000 over a rolling 30-day period.
    • What accounts can I open through internet banking?
      • You can use internet banking to open the following accounts:Savings accounts Checking accounts Tiered money market accounts Certificate accounts
    • Does Hudson Valley Credit Union offer free money for signing up for an account?
      • When you sign up for an HVCU account, you’ll be eligible for HVCU rewards. For every qualified Visa transaction you make, you can earn cash back and travel rewards.

    Rates are subject to change. Information on accounts is accurate as of 12/7/2020.

    This content is not provided by Hudson Valley Credit Union. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Hudson Valley Credit Union.

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    About the Author

    Jamie Johnson is a freelance writer who covers a variety of personal finance topics, including investing, loans, and building credit. In addition to writing for GOBankingWrites, she currently writes for clients like Quicken Loans, Credit Karma, and the US Chamber of Commerce. 

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