Plans Announced For Former Main Street Bank in New Paltz, NY

The old New Paltz Savings Bank building will see new life after being announced as the 31st location of a Hudson Valley institution.

Main Street in New Paltz hasn't changed much since I began visiting in the early 90s. While the names of some businesses may be different, the village looks almost identical to the way it did back in the day.

While town centers in places like Beacon now feature tall buildings and remodeled storefronts, New Paltz remains a hippie-living haven where hikers, college students, year-round residents and tourists all coexist.

An old bank at the bottom of Main Street will follow that tradition by going through a change while remaining true to its original form.

Company Announces Plans for New Paltz, New York Bank Building

The New Paltz Savings Bank building's most recent occupant was Wells Fargo. After closing up shop, the 8,500-square-foot building was put up for lease. While rumors have swirled about what could possibly be moving in, we've just received confirmation about a new occupant for 2025.

The Hudson Valley Credit Union announced this week that it would be opening up its 31st branch at the Main Street location. The new location will utilize the covered side of the building for a drive-up ATM and offer a "full complement of lobby services" which include personnel assisting with teller, account and insurance services. There will also be offices for mortgage loan officers, commercial relationship managers and HVCU wealth management consultants.

Previous New Paltz HVCU Project Abandoned

The announcement of the new Main Street branch comes after the HVCU abandoned a previous plan to erect a new location at the former College Diner on Route 299. The diner was purchased by the credit union in 2021 and plans to knock down the restaurant and erect a new building were submitted to the town board.

Last week, the property was put back on the market, signaling that the project was no longer happening. The HVCU says that even though it abandoned those plans, it has always intended to open up a New Paltz branch, which has become evident by this week's announcement.

The HVCU's new Main Street branch is expected to open in the first half of 2025.