CU Xpress Lease partners with Mid-Hudson Valley FCU
KINGSTON, NY (April 16, 2019) — CU Xpress Lease, the nation’s leading credit union lease program and a Fusion Auto Finance lease product, announces their partnership with Mid-Hudson Valley FCU.
MHVFCU began to offer auto leasing to its members in Ulster, Dutchess and Orange Counties of NY on April 1st2019.
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 Federal Credit Union
Mid-Hudson Valley Federal Credit Union (MHV) is a member-owned, credit union serving individuals and businesses throughout Ulster, Dutchess and Orange counties. MHV provides a wide array of personal and business banking solutions, low rate financing, and convenient banking services. Since 1963 MHV has helped to make our member’s lives easier by providing complete and convenient financial solutions because we provide a member experience driven by innovative technology, reliable service and easy access. Visit mhvfcu.com for more info.
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/.