Established in 1919, Hometown Bank of the Hudson Valley is a federally chartered savings and loan association with headquarters in Walden, New York.
Originally founded as the Walden Building and Loan Association, the founders of the organization envisioned the entity as a source of funds to promote homeownership and thrift in the local community. Depositors would be our investors and their deposits would be reinvested into the community.
Federal Charter Change
In 1933, the entity was officially converted to a federal charter and became the Walden Federal Savings and Loan Association. During the early years, the organization had offices in the Fowler building in Walden and in 1960 moved to the current location of the corporate headquarters at 12 Main Street in Walden. The building and site have undergone two major expansions since the original construction in 1960.
More Community Resources
The bank grew and its product line expanded, but it has remained true to its original mission to promote homeownership in the local community. In 1997, the first branch was established on Route 17K in Montgomery. Additional branches were added in the Monroe Wal-Mart, Otisville, Newburgh and most recently on Route 17M in Monroe. In 2003, the former Town of Montgomery Town Hall building was purchased and restored to functionality and became the home for the bank’s Mortgage and Loan Center. This was yet another sign of the bank’s dedication to promoting homeownership and supporting the local community. In 2009, we opened a separate office for our Commercial Loan Center in Newburgh.
Stock Offerings and Name Change
In 2006, Hometown Bancorp, MHC, a new mutual holding company was formed. In 2007, Hometown Bancorp, Inc., our mid-tier stock holding company, issued a minority share of stock ownership in the company. In September 2011, the bank changed its name to Hometown Bank of the Hudson Valley to reflect its dedication to all of the hometown communities it serves.
The Future of Hometown Bank
Banking has changed considerably since 1919 when all transactions were recorded by hand. Today’s technology has allowed us to take advantage of high-speed computer systems. These systems enable us to offer the financial products that are demanded by today’s customers.
Yes, we have changed, too. We have grown, but we have kept our hometown attitude and it is reflected in our new name.
As we continue to grow and expand, we look forward to being the hometown bank “where good things happen.”