About The Credit Union
What is the credit union and how is it different from banks?
The credit union is a not-for-profit financial institution which is created and run by members for the benefit of members. Banks are owned by stockholders and operated to give the stockholders a return on their investments. Credit unions are owned and operated by members. Returns are paid to the members in the form of generally higher dividends on their savings and generally lower interest rates on their loans.
You're an owner! That's why your Savings Account
at the credit union is called a Share Account. You are a "shareholder". Everyone who owns a share in the credit union is an equal owner, regardless of how much money is in their savings account.
The interest paid on your savings is called a dividend because it's really the money you have earned as a shareholder.
The Share Draft is the credit union's name for a checking
account since you are technically writing a "draft" against your shares at the credit union.
The Board of Directors is made up of members of the credit
union who volunteer their time to serve. These volunteer directors are elected by the membership of the credit union. As a member, you have an opportunity to vote for the members of the board. You may run for the board as well.
Credit unions are operated by the members for the benefit of the members!
What is the credit union's mission statement?
"To be our members' primary financial institution by providing convenient, quality and competitive services in a safe and sound manner."
Where is the credit union?
284 South Avenue
Poughkeepsie, NY 12601
What are the hours of the credit union?
8:00 a.m. - 4:30 p.m. Monday - Friday
Please note we follow the CH Energy holiday schedule.
Central Hudson Employees Federal Credit Union (CHEFCU) is committed to protecting our member's privacy. It is the policy of CHEFCU to hold member information in confidence, subject to applicable legal requirements and standards.