The safety and health of members and staff is our highest priority and we are taking all necessary precautions, monitoring recommendations from trusted public health sources such as the
The following is a list of questions you might have at this time – click the + sign to expand and see each answer. If you do not see your question, please send us a
, live chat, or call our Contact Center at 845.463.3011 Monday through Friday 8 am to 8 pm ET or Saturdays 8:30 am to 5:30 pm ET.
Can I get relief of overdraft and other fees?
As a personal account holder at HVCU who may be having financial hardships due to the COVID-19 pandemic, you can request relief from overdraft fees (including Privilege Pay fee, overdraft fee from savings, overdrawn fee, and non-sufficient funds). You can
apply online, and the request will be processed within 3-5 business days.
Are there requirements for getting relief from fees?
If you’re having financial hardship due to the COVID-19 pandemic, we can process your request for fee relief within 3-5 business days. To ensure you will not be charged overdraft fees going forward, we will opt you out of the Privilege Pay program until the financial relief period is over as determined by the New York State Department of Financial Services. During the financial relief period, if you have overdraft protection from a designated savings account, that will continue. As a reminder, savings accounts are subject to
Regulation D restrictions. If you do not have overdraft protection from a designated saving account or need to make a change, please contact us with instructions.
Will I see a refund for overdraft fees?
For overdraft-related fees, your transaction history in Internet Banking and your periodic statement will show a $.01 Fee Withdrawal and Fee Relief Reversal credit of $.01, along with a description of the returned item.
If I decide not to request a financial hardship due to COVID-19, is there any way to refund my fees?
Please contact us via live chat,
secure email, or by phone at 845.463.3011 for specific information on your account.
I requested a loan deferment on or after March 24, 2020, and was since charged an overdraft fee – will that be reversed?
Members that requested loan deferments due to hardship will see Relief Fee Reversal for overdraft fee transactions by April 10th.
I have not heard back about my financial hardship request. How can I learn the status of it?
Overdraft fee relief requests will take at least 3-5 business days; loan relief requests may take up to 10 business days. Based on those timeframes, if you have not heard from us yet, please contact us by live chat,
secure email, or at 845.463.3011. Thank you for your patience as we are experiencing increased outreach from members.
What does it mean that my line of credit will be unavailable during this time?
In connection with any approved financial hardship due to COVID-19, the funds in your Readi-cash Line of Credit will be unavailable for you to draw on during the financial relief period. Unless loan deferment arrangements have been made regarding that account, you will still be responsible for making your regular monthly payments. We understand that having access to your line of credit is important to you. When your financial relief period and/or deferment has expired and regular payments are resumed, access to your line of credit will be reinstated.
I was reviewing my account in Internet Banking and saw a fee was charged that should have been waived. Can this be reversed for me?
You may see a charge to your account in the amount of $.01. There are automated system processes in place that will credit such fee(s) to your account at the end of the day. We recommend you login to Internet or Mobile Banking the following morning to view the credit(s) to your account.
Why can’t I access Privilege Pay during this time?
To ensure you are not charged any additional overdraft fees going forward, we will opt you out of the Privilege Pay program until the financial relief period is over. At the conclusion of the financial relief period, your account will become eligible for Privilege Pay. During the financial relief period, if you have overdraft protection from a designated savings account, that will continue. As a reminder, savings accounts are subject to
Regulation D restrictions. If you do not have overdraft protection from a designated saving account or need to make a change, please contact us with instructions.
I saw that the Federal Reserve revised Regulation D guidelines. Does that apply to my account at HVCU?
Yes. This change does impact your accounts at HVCU.
What other relief options are available to me?
Effective May 29, 2020, we eliminated the
Regulation D requirement that limited members to six monthly automatic transfers and/or debits from savings accounts. You can now make multiple transfers between accounts, making it easier for you to access and manage your money. The change was made possible due to a mandate revision from the Federal Reserve.
Consumer Loan Relief / Loan FAQs
What is a loan deferment?
If you’re having a financial hardship due to the COVID-19 pandemic, a loan deferment allows you to suspend payments for up to 90 days on certain loans, including:
- Vehicle Loans
- Recreational Vehicles and Sports Craft
- Readi-Cash Line of Credit
- Signature Loans
- Home Equity Loans and Lines of Credit
- Student Loans (including HELP loans)
- Credit Cards (including Secured Credit Cards)
We can also do deferments for Auto Leases, but only for 30 days. Unfortunately our PAL (Personal Assistance Loan), Pledge of Savings and Pledge of Certificate Loans are not eligible for deferments. Interest on the outstanding loan balance continues to accrue during any deferment period.
Can I defer my residential mortgage payment?
If COVID-19 is causing you financial hardship and preventing you from making your mortgage payments, you may qualify for a mortgage forbearance, a program that’s slightly different from a deferment.
A mortgage forbearance delays your mortgage payments for 90 days, typically three monthly payments. At the end of the 90 days, you may have the option to repay us the amount owed in one lump sum. After the forbearance, we may be able to offer a repayment plan or a Loan Modification of your existing mortgage, which could include a change in term. We will work with you to see which is best for your circumstances at the time.
What happens if at the end of 90 days, I still can’t repay my loan/mortgage?
The credit union can work with you to determine what options best suit your specific situation. We encourage you to keep us apprised of your situation and to reach out before your forbearance period is ending if you feel you will still be having troubles. We want to help as best we can, so thank you for keeping us informed by sending us a
secure email, live chat, or calling the Contact Center at 845.463.3011.
Will my credit be negatively impacted by a loan deferment or a mortgage forbearance?
No, a deferment or forbearance due to the COVID-19 pandemic will not negatively impact your credit score.
How do I apply for a loan deferment or residential mortgage forbearance?
What happens when my mortgage forbearance ends?
If you received a mortgage forbearance, we will send you an email or letter explaining your options prior to the end of your forbearance period. Please watch for that at least 30 days prior to the end of your forbearance. If you do not receive it by then or continue to have problems making your mortgage payment, contact us by sending us a
secure email, live chat, or calling the Contact Center at 845.463.3011.
What happens when my loan deferment ends?
For all consumer loan deferments (such as auto loans or credit cards), you received your next payment due date on the forms you signed for the deferment. If you had automatic payments from an HVCU account, those will resume on that payment due date. If you had automatic payments sent from another institution, you will need to set that up again. In any case, you are responsible for making payments beginning on that new due date.
If your deferment was for an Interest-Only Home Equity Line of Credit, please remember that the entire amount of your unpaid interest is due with that first payment.
If you cannot make the payment as of your new due date or you cannot remember your due date, please contact us by sending us a
secure email, live chat, or calling the Contact Center at 845.463.3011.
Can I skip my monthly loan payment?
You may be able to skip your next monthly payment for your Vehicle Loan, Signature Loan, or Personal Assistance Loan. To find out if you’re eligible, please log into Internet Banking and look for the Skip- a-Pay widget. If you’re not currently an Internet Banking user,
enroll now.
Members may also be able to skip their June credit card payment. Eligible members will be notified by their May credit card statement. If eligible, there is no need to contact HVCU to participate.
What will happen to my credit insurance if I miss a loan payment?
Your credit insurance will not cancel for non-payment until you are more than 90-days delinquent on your loan. Consistent with New York’s recent emergency regulations, if you are experiencing any hardship from COVID-19 and would like to discuss loan modification or billing options or make alternative payment arrangements, please contact us at 845.463.3011.
Branches / ATMs / Account Access FAQs
What can I do at the branches now?
All branch lobbies will resume full service on June 29th, with the following notes:
- Each lobby will allow a maximum number of members inside at one time, which will vary by branch based on social distancing requirements. When the maximum is reached, members will be required to wait patiently outside, observing the social distancing markers we’ll have available.
- All branch staff will continue to wear masks or face coverings and gloves.
- Everyone entering a branch must wear a facial covering of their choice covering their nose/mouth. This includes the ATM vestibule area. For security reasons, you’ll be asked to briefly pull the face covering down as you enter the inner branch door. Remember to remove sunglasses and hats before entering, please.
- If your transaction requires identification inside the branch, you may be asked again to briefly pull your face covering down.
- Lobby waiting areas will be unavailable, so to allow for social distancing we ask that you enter the branch alone. If you need someone with you to complete your transaction or if you must bring children with you, we do understand, but please remember that all guests including children two years of age or older must also wear face coverings.
- Upon entering the lobby, members must adhere to social distancing by following the directional markers and 6’ spacers that will be visible throughout the branch. Branch staff will be available to assist you as needed. You will also see plexiglass throughout the branch to separate staff and members; please stand directly opposite our staff with the plexiglass between you for maximum safety.
- While pens will be available, if you would like to use your own – please bring one. If you use one of ours, feel free to take it with you as our gift.
- We require appointments to meet with our Financial Consultants, and appointments are still available for any other non-teller transaction such as opening new accounts, applying for loans, and notary services (staff in our Chester and Middletown Branches can also notarize documents for you remotely). You can schedule an appointment online, send a live chat message, send a secure email, or call us at 845.463.3011.
- For now, appointments with Mortgage Loan Officers and Business Loan Officer will continue by phone only.
Are all of the ATMs still open?
Yes, our branch ATMs are available. Visit our
ATM locators to find surcharge-free network ATMs, although at this time we cannot guarantee their availability.
What can I do at the drive-up teller?
Drive-up tellers can perform all transactions you would normally do at a teller window in the branch, but please remember that lines may be longer than usual.
Remember that most all of the transactions you can do with a teller can be done via Internet Banking and Mobile Banking, and cash can be obtained at ATMs or through debit card purchases at merchants with cash-back. Additionally, the check deposit feature on our Mobile App can be used to deposit checks without a visit to the drive-up teller or ATM. Contact Center staff are happy to explain more about all these services if you’ve not used them yet. We are asking for your patience as you can expect longer than average wait times when you call, but please know we will do our best to serve you promptly.
How much money can I withdraw at an ATM now?
We are strongly encouraging members to use your debit card instead of carrying large sums of cash, however we have increased the daily limit available at ATMs to $750. When withdrawing cash, please remember that some withdrawals from a Savings Account are subject to limitations under Regulation D. We strongly urge you to use your checking account as the main source of deposits/withdrawals during this time especially, potentially moving one lump sum of money to your checking account for easier access in the weeks ahead. For any questions on that, don’t hesitate to reach out to us.
Are transaction forms required for all transactions at the drive-up teller window?
Yes, they are required for confidentiality as well as to ensure we have clear instructions for the transaction.
I need something notarized? How can I do that now?
We’re very pleased to say that we can offer virtual notary services now by appointment. Please call us at 845.463.3011 or live chat to make an appointment. If we can’t connect virtually, in-person notarization is available by appointment.
Can I redeem US Savings Bonds at the drive-up teller window?
Yes. If you have more than a few bonds, we may provide you with a receipt for the bonds and then mail you a receipt once the transaction has been completed. This will help us to ensure we can continue serving other members in line quickly. We appreciate your understanding.
Can I deposit coin rolls at the drive-up teller window?
Unfortunately, we cannot accept rolled coin at our drive up tellers because the weight of the coins can negatively affect the equipment.
How else can I do my banking?
The credit union offers a variety of services to access your money without leaving your home or office.
If you need additional information on any of these services, don’t hesitate to call us at 845.463.3011. We’d be happy to explain them and get you set up using them quickly so that you have additional ways to access your funds. As your financial partner, let us help you maintain your financial well-being so that you can concentrate on keeping yourself and your family healthy.
I'm a new Internet Banking/Mobile Banking user. Do you have any tips for using these services?
We've created a separate
tips page for users new to our online services.
Reaching Credit Union Representatives FAQs
How do I reach my Mortgage Loan Officer?
How do I reach my Business Loan Officer?
How do I reach my Financial Consultant?
Our
Financial Consultants are working remotely and can be reached for questions via phone or email. You can make an appointment to meet with them in a branch by calling 845.463.3011, sending us a live chat, or sending a
secure email.
Insurance Services FAQs
How do I reach Hudson Valley Credit Union Insurance Services?
Our Insurance Services team is working remotely and can be reached for questions via phone or email. Our partner, SWBC has extended their services hours with agents available by phone Monday through Friday from 9 am to 7 pm ET.
I am having difficulty paying my insurance premiums (auto, home, business, etc.). Is there any help available?
Governor Cuomo has directed that consumers and small businesses may be eligible to defer premium payments for up to 60 days and avoid cancellation, accrued interest or policy fees. We encourage you to contact your insurance carrier directly to discuss the billing relief options available to you.
I can’t afford to make my life insurance premium payments right now. Do I have any other options?
Governor Cuomo has directed that consumers may be eligible to defer premium payments for up to 90 days and avoid cancellation, accrued interest or policy fees. We encourage you to contact your insurance carrier directly to discuss the billing relief options available to you.
My business is experiencing financial hardship – is there anything I can do to reduce my business expenses?
A comprehensive review of your current insurance program could determine if you can reduce your insurance premiums. Depending on your policy, if any of the following have changed, you may be able to reduce the cost of your coverage:
- Payroll expenses
- Gross receipts/income
- Inventory/stock
Request a comprehensive insurance review through HVCU Insurance Services today.
I have a Commercial Auto policy and due to COVID-19 I have had to suspend or decrease the use of my business vehicles. Is there anything I can do to reduce the cost of my Commercial Auto Insurance?
There may be ways to help reduce your insurance premium. Completing a comprehensive review of your current insurance program is the best way to determine what is right for you and your business. Request a comprehensive insurance review through HVCU Insurance Services today.
In addition, talk to your agent about whether you are eligible to receive a discount on your Commercial Auto policy by having each driver complete a defensive driving course. Learn more about HVCU’s discounted online defensive driving course.
Where can I find COVID-19 related updates and billing options for my auto, home or business insurance that I obtained through HVCU Insurance Services?
Most of the insurance carriers we represent offer online access to billing and payment services, claim services and COVID-19 related updates. You can access your carrier’s website below:
I have heard that some insurance companies are discounting auto insurance premiums due to the government’s stay-at-home and shelter-in-place measures. How do I know if my insurance company is offering this option?
We recommend that you contact your carrier directly to discuss the premium relief options they have implemented. Most of the insurance carriers we represent offer online access to COVID-19 related updates, including premium and billing relief options. For the most up to date information specific to your policy access your carrier’s website below:
In addition, completing a comprehensive review of your current insurance policy may be a way to determine if you can reduce your insurance premium.
Request a comprehensive insurance review through HVCU Insurance Services today.
Miscellaneous FAQs
Someone called with an offer related to this crisis (pay your IRS tax bill by phone, buy surgical masks, etc.) – is that legitimate?
We encourage you now more than ever to be vigilant against scams, especially via phone and email. The FTC has already reported unscrupulous people are trying to take advantage of the fear and uncertainty of the moment, so stay abreast of scams by visiting the FTC’s website for more information
ftc.gov, in particular this
recent article on Covid-related scams.
What steps are you taking to help prevent this disease with your staff and members?
Please join us in maintaining a high level of vigilance by following the Centers for Disease Control and Prevention’s recommendations to help prevent the spread of respiratory diseases, including thorough and frequent cleaning of all offices, common spaces, and branches. In addition, we are encouraging our staff and members both to:
- Stay home when you are sick.
- Practice social distancing when in public, staying 3-6’ from other people.
- Avoid close contact with people who are sick.
- Avoid touching your eyes, nose, and mouth.
- Cover your cough or sneeze with a tissue, then throw the tissue immediately in the trash.
- Clean and disinfect frequently touched objects and surfaces using a regular household cleaning spray or wipe.
- Wash your hands often with soap and water for at least 20 seconds, especially after going to the bathroom; before eating; and after blowing your nose, coughing, or sneezing.
- Use waterless hand wash when running water is unavailable.