Wallkill Valley Federal Loans and Savings

4 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 7 From its humble beginnings in 1913, Wallkill Valley has become the quintessential community bank, a trusted partner in its local communities’ financial journeys of individuals, families, and businesses. Its distinct structure as a mutual savings and loan bank – where the depositors rather than shareholders own it – gives it the unique edge of focusing solely on its customers, the community, and employees. Wallkill Valley’s President and Chief Executive Officer, Mike Horodyski, shared, “We have no other priorities other than making sure we take care of our customers, community, and employees.” As Horodyski sees it, the beauty of community banking lies not just in offering all the products and features of the big banks but in having personal conversations with customers. Although Wallkill Valley may not boast the extensive product list of its larger counterparts, it offers an understanding of its customers’ needs, fitting them with the services that best match their individual financial aspirations. This deviates from the ‘one size fits all’ approach adopted by many large-scale banks, pivoting towards understanding the customers’ goals and providing bespoke solutions to help them reach these targets. Horodyski emphasized, “We want to understand what the goals of our customers are and find solutions to help them reach their goals.” Regarding lending, Wallkill Valley takes a more holistic and personalized approach. Instead of following a strict formulaic process, the bank looks at the entire profile of a customer, from employment to credit history, considering any anomalies that may appear. This ability to look past specific numbers or ratios that could hinder loan approval in larger national banks sets Wallkill Valley apart. For over a century, Wallkill Valley has stood tall, supported its community, and put customers first. It remains a shining example of how understanding and serving customers’ individual needs can create a solid foundation for success in community banking. Navigating Homeownership Amid Housing Challenges: Wallkill Valley’s Thoughtful Approach In the face of a persistent housing and affordability crunch, Wallkill Valley Federal Savings & Loan responds with a unique blend of empathy, attention to detail, and customer- specific strategies. The bank diligently avoids the common trap of over-leveraging, which could put homeowners in a precarious financial situation. Horodyski states, “We never want to put people into homes where there’s a feeling that they won’t be able to satisfy the debt or that they will have too much of a house or payment to manage the rest of their financial life effectively.” To prevent this, the bank puts a premium on understanding customers’ financial conditions, including their income, expected income, and length of employment. Wallkill Valley offers several first-time homebuyer programs through the Federal Home Loan Bank and Freddie Mac to facilitate