SOURCE: Greater Hudson Bank

Greater Hudson Bank

February 17, 2015 14:07 ET

Greater Hudson Bank Helps Local Municipalities With Specialized Banking Services

New Service Automates Payment Processing Allowing Municipal Agencies to Improve Cash Flow and Overall Efficiency

MIDDLETOWN, NY--(Marketwired - February 17, 2015) - Greater Hudson Bank, N.A. (the "Bank") (OTCQX: GHDS), provides municipal clients with bespoke service so they have come to "Expect Greater Things." Villages, towns, cities, counties, school districts, fire districts, and other municipal agencies are depending on Greater Hudson Bank for extraordinary personal service and unique attention to their financial needs.

As part of the bank's strategy on creating innovative solutions for their customers, Greater Hudson Bank announced that it will offer a new product named, "Muni-Manager" that automates payment processing, accelerates exception clearing and streamlines record retention and research. Muni-Manager is a state-of-the-art system for Municipal agencies to address current payment challenges. "With our new Muni-Manager offering, municipalities are able to leverage automated data capture capabilities to revitalize traditional check and paper based cash management services," said Ed Lutz, President and CEO, Greater Hudson Bank. "We are excited to roll-out this innovative product for our customers."

The Muni-Manager service combines traditional old-fashioned lockbox methodologies with revolutionary imaging technology on an easy to use web-based platform. By using this comprehensive approach to lockbox processing, data entry operators no longer manually key data, reducing error rates and operational costs.

At Greater Hudson Bank Lockbox Operations, checks and associated correspondence items are collected, scanned and images and daily worksheets are created. Once created, Greater Hudson Bank customers can then view the day's work online or on CD ROMs that Greater Hudson delivers to their customers for easy record retention and management.

"As a locally based community bank, Greater Hudson Bank is in the unique position to understand and quickly respond to the unique challenges local municipalities face and best address our needs," explained Cathy Richards, Treasurer at the Village of Warwick. "Their Muni-Manager service is a perfect example of their total commitment to their customers." Since moving their accounts over to Greater Hudson, the Village of Warwick has realized a decrease in their overall banking expenses in addition to an increase in the overall level of personal service and attention.

Greater Hudson Bank, N.A., founded in 2002, is headquartered in Middletown, NY. The Bank, which specializes in providing customized banking services to Hudson Valley based businesses, non-profits and municipal agencies, is chartered by the Office of the Comptroller of the Currency and its deposits are insured by the FDIC. As evidence of the Banks' financial strength, Greater Hudson Bank has been recognized with a superior rating by the country's leading independent bank rating and research firm, BauerFinancial, Inc. Further information can be found on the Bank's website at www.GreaterHudsonBank.com or by calling 844-GREAT-11.

Contact Information

  • Contact: 
    Jenet Ferris
    (845) 367-4998