Credit Unions

Indiana man pleads guilty in fake credit union case

June 25, 2014
 Associated Press and IBJ Staff
An Indianapolis man has pleaded guilty to a Ponzi scheme that defrauded thousands of investors of millions of dollars through a fake online credit union.
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Credit unions back to normal following unusual 2012 highRestricted Content

May 17, 2014
Chris O'Malley
Net income growth among nine big credit unions serving the metro area moderated in 2013 after record earnings for the industry locally and largely across the nation in 2012.
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ITT student-loan bet stings Lilly's credit union

April 26, 2014
Chris O'Malley
A default-prone portfolio of loans to ITT Educational Services students has come back to haunt Eli Lilly Federal Credit Union, a full-service but otherwise conservative institution.
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Feds sue Indianapolis man over fictional credit union

April 14, 2014
Chris O'Malley
An arrest warrant has been issued for Tim Coughlin, who has been accused of running a Ponzi scheme that collected $12.8 million from investors. In 2008, he proposed creating a 20-story balloon ride at White River State Park.
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Banks see resurgence of home equity loansRestricted Content

March 29, 2014
Chris O'Malley
Although mortgage-refinancing applications are down, the product reviled and thought extinct after the 2008 housing crash that decimated property values may save the day for lenders: the home equity loan/line of credit.
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Banks gathering all their clients' eggs into one basketRestricted Content

March 1, 2014
Chris O'Malley
Banks and credit unions facing more competition from online lenders—and now even from big-box stores offering financial products—are working harder to get a bigger piece of a customer’s wallet over the long haul.
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Final piece of city land-swap deal almost done

December 6, 2013
Scott Olson
Indianapolis Fire Department Credit Union officials are set to sign off on a deal with the city to build a facility downtown near College Avenue. That would clear the way for a $43 million project on the credit union's current Mass Ave site.
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Indiana Members adds small credit union to its fold

August 15, 2013
 IBJ Staff
Indiana Members, which has 24 branches and $1.3 billion in assets, will grow by one branch and $17 million in assets.
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Estate of Financial Center's former CEO seeks death benefit

June 14, 2013
Chris O'Malley
The widow of former Financial Center CEO Roger Youngs alleges in a lawsuit that the Indianapolis credit union owes his estate $936,162, per his retirement agreement.
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Indiana credit unions are booming again

May 11, 2013
Norm Heikens, Chris O'Malley
Credit unions last year posted record earnings, thanks largely to lower loan-loss reserves, as well as to growing memberships, growing debit cards, selling off mortgages and stealing business loans away from banks, their arch rivals.
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Two of city's largest credit unions set to merge

March 22, 2013
Chris O'Malley
Horizon One Federal Credit Union, founded in 1949 to serve General Motors metal-stamping plant employees in Indianapolis, is merging with Financial Center Credit Union.
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Forum Credit Union names new chief executive

December 1, 2011
The Fishers-based financial institution is turning to company veteran Doug True to help Forum rebound from a $2.8 million loss in 2010.
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Credit unions gun for more traditional bank business

May 21, 2011
Francesca Jarosz
A push by credit unions for more leeway with small-business lending is fueling an old fight with their banking rivals.
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Teachers Credit Union chooses new leader

November 10, 2010
Senior vice president Paul A. Marsh will take over for Richard J. Rice, who has been president of the credit union since 1987.
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Bank On Indy initiative nearing first-year goal

August 19, 2010
Program that aims to reach local population without bank accounts so far has helped more than 7,500 people open an account.
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Clarian Federal Credit Union acquires Community Choice

December 2, 2009
 IBJ Staff
The combined firm will have more than 8,700 members and more than $20 million in assets.
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Indiana Members Credit Union signs Pacers sponsorship pact

October 17, 2009
 IBJ Staff
The agreement includes player appearances, a Pacers debit card, courtside signage, radio spots, hospitality and use of the Conseco Fieldhouse practice court for community relations initiatives.
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Credit unions to pay hefty tab for bailoutsRestricted Content

August 10, 2009
Peter Schnitzler
Local credit unions largely avoided putting toxic assets on their own balance sheets. Even so, they’re going to have to pay millions of dollars to clean up their industry’s books.
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Indiana Members Credit Union grows by acquisitionRestricted Content

June 15, 2009
 IBJ Staff
Indiana Members Credit Union, the metro area's second-largest credit union, has acquired Marsh Employees Federal Credit Union.
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Lending, deposits increase at credit unions despite subpar economyRestricted Content

November 3, 2008
Cory Schouten
While many banks were getting drunk on loose lending in the last few years, most credit unions stuck to conservative lending and other plain-vanilla banking practices.
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Credit union ordered to pay ex-executive $3.4MRestricted Content

August 14, 2006
Greg Andrews
A Marion County judge has ordered an Indianapolis credit union to pay its former CEO $3.4 million, saying it wrongly froze the executive's accounts after accusing him of financial improprieties three years ago.
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  1. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

  2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

  3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

  4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

  5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.

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