MHVFCU began to offer auto leasing to its members in Ulster, Dutchess and Orange Counties of NY on April 1st 2019.
Founded in 1963, member-owned MHVFCU has over $1.04 billion in assets. With a network of more than 77,000 members, 812 businesses partners, and 13 branches, it is one of New York state's largest credit unions.
Steve Carle, Senior Vice President / Chief Lending Officer for MHVFCU stated, "The Hudson Valley region represents one of the top lease markets in the U.S. By working with CU Xpress Lease, we are able to add value to our members with affordable vehicle financing while enhancing the credit union's dealership exposure. Additionally, leasing provides us an opportunity to immediately expand our automotive portfolio. Since leasing is becoming more popular due to lowered monthly payments and no money down requirements, we know our potential will only increase with this new service for our members."
Added Robert O'Hara, Vice President of Strategic Alliances for GrooveCar: "We are excited to partner with Mid-Hudson Valley FCU and look forward to bringing the CU Xpress Lease program to their members. Consumers are payment-driven and leasing provides a true medium for credit unions such as MHVFCU to capture that market share without the responsibility of managing the residual risk when the lease matures."
About Mid-Hudson Valley FCU
Mid-Hudson Valley Federal Credit Union is a member-owned, not-for-profit, full-service financial institution with 13 branches throughout New York with more than $1.04 billion in assets and over 77,000 members. MHVFCU has been offering superior financial services with a member-oriented focus since 1963. Additional information may be found at http://www.mhvfcu.com/.
About CU Xpress Lease
CU Xpress Lease, a Fusion Auto Finance lease product, is the nation's premier automotive leasing program for credit unions that generates a solid return on investment, delivers high member satisfaction, and guarantees 100% residual value at lease maturity. Total volume of the program exceeds $4.5 billion and 120,000 vehicles. Additional information can be found at https://www.groovecarinc.com/solutions/cu-xpress-lease/.
Contact
Eric Budzinski
AVP Marketing
***@groovecar.com
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