Capital Communications, Hudmo Valley CUs Merge

ALBANY, N.Y. – The $459 million Capital Communications Federal Credit Union and the $2.5 million Hudmo Valley Federal Credit Union merged on July 1. The merger received regulatory approval from NCUA, and was overwhelmingly approved at a meeting of the Hudmo Valley FCU membership on June 4, 2006. Hudmo Valley FCU was established in 1961 and, as of May 31, 2006, has nearly 800 members. The CU’s only location in Green Island will remain open and Hudmo Valley staff will be retained. Capital Communications, the second largest CU in the Capital Region, was established in 1953 and currently has five branches. After the merge with Hudmo Valley is complete, Capital Communications will have more than 50,000 members and $465 million in assets.