M a k i n g L i f e B e t t e r s i n c e 1 9 5 4 .

Since 1954, your Credit Union’s financialstrength has provided our member/ owners with a stable foundation for their financial futures.

There may be some members who may not realize it yet, but they are member/ owners of one of the most financially solvent financial institutions in the Capital Region!

It is only as a result of our financial strength that we were able to return a portion of our earnings to our member/owners in 2013.

Your active participation in HRCCU is one of the best ways to ensure the continued financial success of your cooperatively-owned, not for profitfinancial institution.

How can you actively participate in HRCCU’s success? It’s easy!

1. Get Involved.We are always looking for volunteers to serve as Directors, Associate Directors and as members of our Credit Union Supervisory Committee.

2. Make HRCCU Your Primary Financial Institution.

Member/owners who use HRCCU as their primary financial institution receive the most benefit from their Credit Union.

Open an HRCCU Platinum VISA Credit Card account, refinance your mortgage, home loan, vehicle and personal loans with us and save money with our low Annual Percentage Rate Financing.

Open a high yield share or IRA Certificate with us and take advantage of some of the highest Annual Percentage Yields you will find in our area.

3. Refer Your Family Members, Friends and Coworkers.

Tell your family members, friends and coworkers alike to compare their current interest and dividend rates to ours.

They will find our rates and dividends hard to beat!

Thanks for your 60 years of membership and continued loyalty to our Credit Union!

Community REPORT

2013

CELEBRATING OUR YEAR OF SUCCESS

Returning earnings and increasing financial

giveback to our member/owners!

60th

On average, this means a savings of $200 per member household for dividends earned on savings and dollars saved as a result of low loan rates, when compared to our financial competitors.

The Board of Directors is especially pleased that our Credit Union was able to return $595,265 in Borrowers’ Rewards to our member/owners during 2013. Your Credit Union’s outstanding financial strength allows us to provide these types of givebacks to the member/owners of our cooperatively-owned financial institution.

For the 76th consecutive quarter, HRCCU hasearned a 5-star “Superior” rating from BauerFinancial, Inc. - the nation’s leading independent credit union rating and research firm that has been reporting on and analyzing the performance of financial institutions since 1983.

Weiss Ratings, another leading independent provider of financial institution ratings has once again rated our Credit Union as “A-” or “Excellent.” We continue to carry the label of “Weiss Recommended” as a result of our financial strength. On behalf of the Board of Directors of Hudson River Community Credit Union, I thank you for your continued support and loyalty to HRCCU. We look forward to Making Life Better for you in 2014!

Stuart Field, PresidentHRCCU Board of Directors

President’s ReportContinued strength and stability.

Community REPORT

2013

I am very pleased to report that as Hudson RiverCommunity Credit Union enters its 60th anniversary year, the Credit Union now ex-ceeds over $175 million in assets. Thanks to the growth of assets during 2013, we are pleased to report a capitalization rate of 13.39%. We could not reach these recordnumbers without the continued loyalty and participation of an ever-increasing number of member/owners.

During 2013, our membership grew to 22,524 members residing in more than 15,000 households in Warren,Washington, Saratoga and Rensselaer counties as well as the Towns of Cohoes, Green Island and Watervliet.

For the past 60-years, giving back to our member/owners and to our communities has been an important part of our Credit Union’s focus. Over the course of the past year, HRCCU has given back a total of $2,304,379 to our member/owners. This represents an increase in total member giveback of more than 63%!

Our Vision:The vision of Hudson River Community Credit Union is to be

our communities’ first choice for all financial life events.

CEO’s ReportA solid foundation for future growth .

Our Mission:To improve the well-being of our member/owners and their families by

providing quality financial services with the best overall value.

Community REPORT

2013

I hope you have had a great start to your year and are enjoying a prosperous 2014.

The economic recovery from the nationwide financial crisis of 2008 has been slow, however I’m proud to report that Hudson River Community Credit Union (HRCCU) has enjoyed another successful year.

We continue to stand-out in our community as a trusted financial partner. As we look ahead into 2014, we believe that the economic outlook will improve; fueled by lower unemploymentnumbers and energy prices. Economists expect economic growth to continue its modest acceleration and for interest rates to maintain record low-levels for the foreseeable future.

As the national economy continues to stabilize, banks are back in the business of making loans. In contrast, HRCCU experienced significant loan growth during the recession and we have been fortunate to maintain that momentum in the post-recession environment. Banks continue to raise their fees to make up for lost revenues, while we continue to lower our rates and fees.

At HRCCU, our rates remain very competitive. In particular, we continue to be a leader in vehicle lending - seeing spectacular auto loan volume in 2013 Not only do we offer competitive rates on new vehicle loans, but we also offer our members the opportunity to reduce their interest rates and monthly payments through our vehicle refinance program.

We strive to provide products and services that improve our members’ lives, such as: our all-new No Fee Visa Balance Transfer program for new cardholders and our low rate Fuel and Holiday Loans. We slashed our Home Equity Loan Rates and eliminated our closing cost fees - saving our members thousands of dollars. Wealso made it easier for our members to access their Lines of Credit. HRCCU continues to be a “Top Payer” in share account and certificate savings dividends and we eliminated the annual maintenance fee on our IRA Certificates.

Your support and satisfaction is our top priorityat HRCCU; and we continually look for ways to provide you with a more valuable member experience. In 2013, our technology enhancements included: a completely redesigned web site with fast, secure access to member accounts, product and service information and member assistance. This site, like all of our products and services, was designed and enhanced with your best interest in mind.

As the economy regains its momentum, we will continue to work hard to exceed your expectations to help keep Making Life Betterfor our member/owners. I thank you for your continued loyalty and support!

Sue Commanda, Chief Executive OfficerHudson River Community Credit Union

CEO’s Report2013 Financial Overview

2013: Total Loans, Total Shares, Total Assets and Total Membership

Community REPORT

2013

2013 Income & Expense Highlights

Operating Income Interest, Fee & Other Income $ 11,239,935.63 Investment Income $ 403,712.21 Total Gross Income $ 11,643,647.84 Provision for Loan Loss $ 605,310.41 Member Patronage Dividend Payout $ 600,000.00 Total Operating Expenses $ 8,383,437.99 Net Operating Gain (Loss) $ 2,054,899.44 Other Non-Operating Gain/Losses $ 37,070.16 Gain/Loss Disposition Assets $ 6,849.24 NCUSIF Premium $ (122,150.57) Total Non-Operating Gain/Loss $ (78,231.17) Dividends $ 857,608.31 Net Income (Loss) $ 1,119,059.96

Community REPORT

2013

Making Life BetterFor Our Member/Owners

Hundreds of members/owners, their families and friends gathered for a day of fun, food and entertainment at our 2nd Annual HRCCU FUN Day. Park admission, parking, an all-you-can-eat buffet lunch and fountain soft drinks were offered at a very low price.

Partial proceeds of our FUN Day Ticket sales were donated to Shelters of Saratoga and the Double H Ranch in Lake Luzerne.

Another FUN Day for members!

HRCCU Begins Innovative Member Financial Education Program

New and exciting in 2013, was the unique partnership forged by HRCCU, the Cornell University Cooperative Extension (CCE) offices in Washington, Warren, Saratoga, Rensselaer and Albany Counties, New York Credit Union Foundation (NYCUF) and the Benefits/Human Resources management of area employers to make our educational workshops available to members and prospective members on-site at their places of business.

With major funding and event coordination provided by HRCCU and with financial support from an NYCUF grant, HRCCU was able to provide employers in our service area a free employee benefit while presenting valuable financial education to current and prospective members alike.

As a result of these efforts, participation in our educational workshops saw an increase in workshop participation over 2012. In addition, participants rated our workshops very highly, with 92% considering them helpful and an additional 92% recommending participation to others at their place of employment.

HRCCU members enjoying FUN Day.

HRCCU Launches its All-New Web site in May, 2013

After completion of development and testing, writing and editing of hundreds of pages of content, HRCCU launched an update of its hrccu.org web site in May.

Offering quick access to Virtual Branch, Loan application, product and service information, videos, online brochures and resources, Member Discounts and a Community Job Board — hrccu.org has everything you need!

Making Life BetterFor Our Youth & Young Adult Member/Owners

Community REPORT

2013

Our School Banking Program Generates Interest!

Our School Banking program continues to grow, with increased participation and deposits made by the students of Big Cross Elementary School in Glens Falls.

(Left) Members of the Big Cross School visit our Glens Falls branch during a National Credit Union Youth Week field trip.

$6,000 Awarded in 2013 HRCCU Scholarship Program.

Six Hudson River Community Credit Union members were awarded College Scholarships in 2013. Scholarships are presented annually to graduating seniors who are: members-in-good-standing, are from a high school within our field of membership and who are planning to attend an accredited college or university in the coming year.

In 2013, scholarships to Jenna Ackerley, Corinth Central School; Lauren Bolz, Queensbury High School; Andrea Brenner (not pictured), Shenendahowa High School; James Campbell, Saratoga Springs High School; and Allison Cirenza, Saratoga Springs High School; and Rebecca Sheely, Schuylerville High School.

Cynthia Cappello, of South Glens Falls High School received a $1,000 Making Life Better scholarship award for meeting the above criteria and completing 40 or more hours of voluntary community service work over the past twelve months.

James Campbell

Jenna Ackerley

Allison Cirenza

Rebecca Sheely

In celebration of National Credit Union Youth Week, HRCCU developed a six-week “‘Stache Your Cash” contest in which participating Youth members identified celebrity mustaches each week to earn deposits to their savings account. Our promotion was recognized by national media!

Credit-qualified Young adult memberswho participate in our First TimeCar Buyers Program receive a FREE Online Defensive Driving Course sponsored by the American Safety Council. The online course has a retail value of $49.95.

Our Youth Members ‘Stached Their Cash in HRCCU in 2013.

Free Online Defensive Driving Course.

Lauren Bolz

Cynthia Cappello

Community REPORT

2013

Once again, HRCCU member/own-ers and local residents showed their support of our branch-wide, 2nd Annual Earth Week Electronics Recycling Collection Drive.

This annual drive resulted in the removal of 30,000 pounds of unwanted televisions, computers, laptops, and peripherals of all kinds from our landfills. This is a 50% increase over 2012.

HRCCU Helps Recycle Electronics.

Sixth Annual Golf Tournament Raises Money for Local Charities!

In August, the sixth Annual HRCCU Golf Classic for Kids in Need was held at Airway Meadows Golf Course in Gansevoort.

$19,294 was raised for The Saratoga Regional YMCA - Corinth, the Glens Falls Area Youth Center and the Cohoes Community Center.

Making Life BetterIn Our Communities

A member happily recycles

his unwanted electronics at our Spring HRCCU branch recycling

drive.

Credit Union Volunteers Support the Double H Ranch!

HRCCU was represented by twenty-two volunteers during an April Community Work Day at the Double H Ranch in Lake Luzerne.

Begun in April 2012, Hudson River Community Credit Union member/owners have helped to raise over $5,000 dollars for needy local not-for-profits in our service area through our Community Heroes Campaign. HRCCU has donated five dollars for every new member and for every current member/owner who added a product or service to a selected not-for-profit each month.

Community Heroes Campaign Raises Thousands for Not-for-Profits!

Making Life BetterIn Our Communities

Community REPORT

2013

Hudson River Community Credit Union Runs for the ROC!

Seventy-five HRCCU Board members, staff, member/owners and their families and friends represented our Credit Union in the Saratoga Care Foundation’s annual run/walk for Saratoga Hospital’s Mollie Wilmot Radiation Oncology Center.

HRCCU member/owners and staff generously contributed over 1,000 school supplies in our branch-wide School Supplies Collection Drive.

120 area kids were provided with pens, pencils, tablet paper, notebooks, bottled glue and glue sticks, in colorful backpacks donated by HRCCU.

Backpacks were provided to local community service organizations for distribution to needy kids in our area.

120 Backpacks Filled With School Supplies Donated to Local Kids!

The completion of the all-new Corinth Operations Center took place at the end of April. Staff from three HRCCU locations are now working from a 16,000 square foot facility located on a 10 acre site off of Palmer Avenue. The Operations Center is located on a parcel of land once belonging to the International Paper Company’s Corinth Mill.

A ribbon cutting ceremony and open house were conducted in June.

Corinth Operations Center Completed!

Whenever there is a need in our community, you can be certain that our Branch staff are among the first to stand up and deliver! Throughout the year our branches have collected toys for local children as a part of the USMC Foundation’s Toys for Tots campaign and provided support for the Prospect Child & Family Center through our participation in the 2013 North Country Festival of Trees.

Each of our branches sold chocolate and plush bunnies and “Good Any Day” tickets (to the Great Escape and Enchanted Forest/Water Safari) to raise money for local youth centers.

Community REPORT

2013

HRCCU Branches Collect Coats and Scarves for the Needy

Making Life BetterIn Our Branches

January Food Drive a Success! After the holiday season, food pantry shelves are often empty and food pantries are most in need of community support. In January, HRCCU members and staff donated hundreds of food and personal care items to: Unity House of Troy, The Cornerstone Soup Kitchen and Food Pantry of Hudson Falls and The Whitehall Emergency Food Pantry.

Once again HRCCU branches did their part to “Make Life Better” for the needy in our community by collecting warm coats, hats, scarves and gloves for those less fortunate in our service area.

Collected items were donated to the Corinth Lions Club, Warren/Washington County Homeless Youth Coalition and Unity House.

Saving Lives through our Red Cross Blood DrivesIn 2013, our members and staff gave back to their communities by giving the gift of life right at our branches.

Thanks to the generosity of our members and staff, more than one-hundred and fifty needy patients were provided with blood and blood products.

Support for our Communities at Every HRCCU Branch!

HRCCU’s Colleen McGuire delivers items to a local food pantry.

Hudson River Community Credit UnionIn The News

Community REPORT

2013

In June of 2013, our Past Board President and Associate Director, Don Briner, was recognized for his long history of Credit Union support and volunteer activities by the Credit Union Association of New York (CUANY).

Don, along with two other volunteers from around New York State were presented with their OutstandingVolunteer awards at the 2013 CUANY State-wide convention, held at the Sagamore Resort and Conference Center in Bolton Landing.

Briner Recognized as Outstanding Volunteer

HRCCU featured in Local and National News StoriesHudson River Community Credit Union was featured in local and national news coverage over the past year.

In January, HRCCU CEO Sue Commanda provided her insight on the economic forecast for the coming year in the Glens Falls Business Journal 2013 Business Outlook.

In April, HRCCU was also featured in a national story in the Credit Union Times regarding the continued strength of Credit Unions in New York State serving areas impacted by the recent Hurricane Sandy.

HRCCU Recognized for Marketing InnovationIn November, the HRCCU Marketing team was recognized by the Credit Union Journal. We were chosen as one of only 25 credit unions honored by this national magazine in their 2013 “Best Practices Awards” for their innovation and excellence.

HRCCU Named Corinth Merchant of the YearIn September, HRCCU was honored tobe named Corinth Merchant of the Year in a ceremony at the Operations Center in Corinth.

The award was presented by the Corinth Merchants Association by Association president, Ed Byrnes.

Don Briner

Ed Byrnes presents award to Sue Commanda.

Alvey Harrison is a recent graduate of Rensselaer Polytechnic Institute (RPI) and is currently employed as a Manufacturing Center of Excellence Training Coordinator and Team Assistant at Global Foundries in Malta.

Alvey is a resident of Corinth has dual Bachelor of Science degrees in Design, Innovation and Society/Management.

Annie McMahon is a 30-year resident of Lake Luzerne and has also been a member of HRCCU for that same period of time. Employed as a Fiscal Manager for Warren County, Annie has been active in the banking field for over twenty years.

Annie is very active in the local community and serves on numerous boards, committees and is a Warren County Meals on Wheels volunteer.

Denise Williams is a resident of Corinth and has an MBA in Business Administration from the College of St. Rose, in Albany. Denise has significant experience in bookkeeping, loan administration, finance and management . Currently, Denise is Chief Financial Officer of Harmony Group in Albany where she oversees commercial and residential properties, provides monthly statements to investors.

Community REPORT

2013

Hudson River Community Credit UnionWelcomes New Volunteers

Annie McMahon, Lake Luzerne, NY

Denise Williams, Corinth, NY

Alvey Harrison, Corinth, NY

In 2013, Hudson River Community Credit Union put out the call to our member/ owners seeking volunteers to participate as Associate Directors and Supervisory Committee members.

As a result of our request , we received a great number of resumes from interested members who wished to take more active roles in their Credit Union. We are pleased to announce the addition of the following members to our Supervisory Committee:

Hudson River Community Credit Union2013 Board of Directors and Management

Community REPORT

2013

Our Board of Directors and Supervisory Committee

Our Credit Union Management Team

Cathy Carpenter,

SVP, Financial Services

Lorraine Marola,

Chief Financial Officer

Douglas Collignon,

Chief Information

Officer

Shelley Tracy,

VP, Risk

Management

Paula Sheely,

VP, Lending

Nadine Jones,

VP, Human

Resources/Organizational Development

Susan Commanda, CUCE,Chief Executive Officer

Charles Pasquarell, III,

Vice President

Carol Ann Pacco-Long,

Treasurer

Margaret Foote,Director

Harold Jones,Director

Margaret Rabida,Director

Thomas Uncher,Secretary

Stuart Field, President

Donald Briner,

Past President and Associate

Director

Dino Rosati,Associate Director

Michael Niles,

Chairman, Supervisory Committee

Annie McMahon,Supervisory Committee

Member

Denise Williams,Supervisory Committee

Member

Alvey Harrison,Supervisory Committee

Member