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.
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.Read More
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.Read More
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.Read More
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.Read More
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 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.
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.
President and CEO Ron Collier has managed 33 mergers and acquisitions at Indiana Members Credit Union since 1985.
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.
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.
The National Credit Union Administration says it took control of operations at Indianapolis’ Newspaper Federal Credit Union because of “unsafe and unsound practices.”
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.
Ball State Federal Credit Union is set to join Indianapolis-based Financial Center First Credit Union in a merger effective Nov. 1.
The study found that the average credit union overdraft fee is nearly $10 less than that of large banks.
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.
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.
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.
Some big Indiana credit unions are ramping up growth, undaunted by the increasingly competitive banking landscape.
Indiana Members Credit Union is hoping to open a branch in the 18,000-square-foot, two-story brick building on Old Meridian Street in Carmel.