Estate of Financial Center’s former CEO seeks death benefit
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.
Credit Unions
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Indiana credit unions are booming again
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.
Two of city’s largest credit unions set to merge
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.
Forum Credit Union names new chief executive
The Fishers-based financial institution is turning to company veteran Doug True to help Forum rebound from a $2.8 million loss in 2010.
Credit unions gun for more traditional bank business
A push by credit unions for more leeway with small-business lending is fueling an old fight with their banking rivals.
Teachers Credit Union chooses new leader
Senior vice president Paul A. Marsh will take over for Richard J. Rice, who has been president of the credit union since 1987.
Bank On Indy initiative nearing first-year goal
Program that aims to reach local population without bank accounts so far has helped more than 7,500 people open an account.
Clarian Federal Credit Union acquires Community Choice
The combined firm will have more than 8,700 members and more than $20 million in assets.
Indiana Members Credit Union signs Pacers sponsorship pact
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.
Credit unions to pay hefty tab for bailouts
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.
Indiana Members Credit Union grows by acquisition
Indiana Members Credit Union, the metro area’s second-largest credit union, has acquired Marsh Employees Federal Credit Union.
Lending, deposits increase at credit unions despite subpar economy
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.
Credit union ordered to pay ex-executive $3.4M
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.