Local banks lure new customers with cash amid competition
Cash offers are not a new phenomenon, but they’re in widespread use locally now, with at least 10 banks and credit unions offering such incentives.
Credit Unions
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Credit union taking HQ to Bottleworks District
Indiana Members Credit Union has more than 160,000 members and 31 branches across the state. The company, founded in 1956, also employs about 525 people statewide.
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Anderson-based credit union expanding outside Madison County
After 60 years of operations in Madison County, Anderson-based Lampco Federal Credit Union is working to establish a foothold in Marion, Hamilton and Hancock counties.
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Indiana credit unions pursue growth by buying banks
The banking industry, which argues that credit unions’ tax-exempt status gives them an unfair edge, objects to the trend.
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Indians announce naming-rights partner for new club space
The 4,500-square-foot club, to be constructed between the 2019 and 2020 seasons as part of $8.3 million in Victory Field improvements, will be sponsored by Indianapolis-based Elements Financial Federal Credit Union.
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Articles
Banks, credit unions turn to Legislature after stinging court losses
The revival of a bill that would allow banks to change contract terms without explicit consent from their users rang alarm bells for consumer advocates but faced little opposition in the Indiana House. Additionally, the proposal would override two recent opinions from the Indiana Supreme Court.
Indiana’s largest credit union changing its name
Teachers Credit Union on Tuesday said the rebranding better reflects its “mission to empower and serve all people and grow beyond its original educator roots.” It will also mean a name change for TCU Amphitheater at White River State Park.
Credit union to take over former downtown barbecue spot
The spot near Monument Circle has been vacant since September 2020. Indiana Members Credit Union expects to open a branch office there this summer.
Fort Wayne-based credit union to enter central Indiana market
Fort Wayne-based 3Rivers Federal Credit Union, which operates 21 branches in northeast and east-central Indiana, plans to spend $7.5 million to construct three branches in central Indiana.
Teachers Credit Union names new president, CEO
Jason Osterhage mostly recently was executive vice president and chief operating officer for Texas Dow Employees Credit Union in Houston.
Elements CEO stepping down after 17 years leading credit union
Lisa Schlehuber has served as CEO of Indianapolis-based Elements Financial since 2005. She’ll retire from the role in April, the credit union announced Wednesday.
Longtime Financial Center CEO Ryan retiring
J. Kevin Ryan, CEO of Indianapolis-based Financial Center First Credit Union, is set to retire after 40 years in the industry, the credit union announced Tuesday.
Indiana Members CEO to retire after 37 years with credit union
President and CEO Ron Collier has managed 33 mergers and acquisitions at Indiana Members Credit Union since 1985.
Indiana Members Credit Union adds Bloomington-based credit union
Indianapolis-based Indiana Members Credit Union will add 2,231 members, two offices and $17 million in assets by adding Members Choice Federal Credit Union through a merger.
Regulators liquidate troubled Indianapolis credit union
The financially troubled credit union had been operating under a conservatorship since January. As part of the liquidation, about 500 members and most of their deposits have been transferred to Indianapolis-based Elements Financial Credit Union.
Indianapolis credit union placed into conservatorship
The National Credit Union Administration says it took control of operations at Indianapolis’ Newspaper Federal Credit Union because of “unsafe and unsound practices.”
Lucas White: Credit unions have unfair advantage over banks
In the past 80-plus years, however, credit unions have grown substantially in size and scope, bearing little resemblance to their forebears. Their current clientele often are affluent, and field-of-membership requirements have been stretched beyond recognition.
Financial Center First adding Muncie credit union through merger
Ball State Federal Credit Union is set to join Indianapolis-based Financial Center First Credit Union in a merger effective Nov. 1.
Average overdraft fees steeper at banks than credit unions
The study found that the average credit union overdraft fee is nearly $10 less than that of large banks.
City’s poor often have few affordable options for banking, other financial services
Banking is more expensive for the people who most need it to be affordable, a reality that experts say plays a significant role in preventing many Hoosiers from snapping the cycle of poverty.
Kokomo credit union merging into Financial Center First
Indianapolis-based Financial Center First Credit Union is building a branch in Kokomo and will complete a merger with Kokomo Heritage Federal Credit Union when the branch opens this fall.
U.S. credit scores hit new high while household debt skyrockets
The new record comes on the heels of other signs that consumers are finally shrugging off a recession hangover, despite stubbornly stagnant wages that haven’t matched mushrooming corporate revenue.
Eyler misses deposition, adding to furor over test-prep firm
Tennessee-based Southeast Financial Credit Union sued Eyler and others in 2015, charging they fraudulently restructured the business to thwart creditors and owe more than $13 million on defaulted loans.
Financial veteran to lead Centra Credit Union
Columbus-based Centra Credit Union, one of the largest Indiana-based credit unions, announced in late June that it named Rick Silvers as CEO.