Mergers & Acquisitions and Credit Unions and Banking & Finance

Indiana Members adds small credit union to its fold

August 15, 2013

The Indianapolis-area’s largest credit union just got a little bit larger.

Indiana Members Credit Union said Wednesday that it has completed its merger with Warren M.S.D. Federal Credit Union.

Indiana Members, which has 24 branches and $1.3 billion in assets, will grow by one branch and $17 million in assets.

“We are certainly honored Warren M.S.D. Federal Credit Union chose to merge with IMCU,” Indiana Members CEO Ron Collier said in a prepared statement. “The 2,400 Warren members have been part of a successful credit union and we are pleased to have them as part of the IMCU family.”

Michael Thayer, CEO of the Warren credit union, will remain with the merged organization as manager of the former Warren branch at 1065 N. Post Road.

Indiana Members, founded in 1956 as Indiana University Medical Center Federal Credit Union, has about 110,000 members.

Warren M.S.D., founded in 1965, reported a loss of $5,096 in 2012.
 
 

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