Hoosier Hills Credit Union
In the state of Indiana, two financial institutions have decided to merge, the Hoosier Hills Credit Union in Bedford and the Dearborn County Federal Credit Union in Lawrenceburg. The approval of the merger is pending a member vote at Dearborn. Dearborn County has about 2,000 members and $15.9 million in assets, while Hoosier Hills has $831 million in assets and around 33,000 members. The merger is part of an ongoing trend of credit union consolidation, with banks eroding profit margins at smaller credit unions.
Hoosier Hills Credit Union is a not-for-profit financial cooperative
The Hoosier Hills Credit Union is headquartered in Bedford, Indiana and serves 40 counties in southern Indiana and northern Kentucky. A $5 savings deposit will give you full membership benefits and make you an owner of the credit union. Founded in 1934 as a break room at the GM Central Foundry, Hoosier Hills Credit Union now serves more than 33,000 members with a mission to help their members achieve financial wellness.
Hoosier Hills Credit Union has achieved a five-star rating from BauerFinancial, an independent research firm that has been providing unbiased ratings since 1983. The five-star rating designates Hoosier Hills Credit Union as one of the strongest financial institutions in the United States. The rating is based on the financial institution’s capital, profitability, regulatory compliance, asset quality, and historical data.
The credit union recently added two new staff members to its ranks. Cory McDaniel, vice president of Mitchell operations, brings more than a decade of experience in the credit union sector. Pam Blackburn, SVP of human resources, has more than three decades of experience in human resources and has led teams of more than 100 employees. She holds an MBA from Leeds University. And since she is a native of Mitchell, she looks forward to a career that will allow her to help her community.
It has $831 million in assets
Dearborn County Federal Credit Union in Lawrenceburg, Indiana, has announced a merger with Hoosier Hills Credit Union. The merger has been approved by the boards of both institutions, and the deal is subject to regulatory approval and a member vote at Dearborn County FCU. This merger will create additional services for members, add $16 million to the credit union’s assets, and provide more convenient branch locations. In addition, the combined credit union will operate nine service centers throughout southern Indiana.
Members of Hoosier Hills Credit Union can access various services through its website, online banking, mobile app, and other outlets. The credit union also operates a branch in Spencer County. The credit union has about 33,000 members. The goal of the credit union is financial wellness. To help members achieve their financial goals, Hoosier Hills Credit Union is offering a variety of financial services.
It has around 33,000 members
The newly combined institution will have around $332 million in assets and over 33,000 members. The new company is headquartered in Bedford, Indiana, with nine service centers throughout southern Indiana and northern Kentucky. In the first two months of 2022, the credit union saw $139 million in loan participations, with a large portion of those being recreational vehicles loans. Members in the region will still be able to access their money at any of these locations.
The new name will not affect the financial services or membership of either company’s 145,000 member-owners. Credit cards, debit cards, checks, and automatic deposits will continue to work as usual. Only the company’s signs and ATMs will change. The rebranding project will be completed by fall. The credit union’s new name will be more accessible for members. It will also offer members more services through shared branching and electronic channels.
Betty Anders has been promoted to assistant vice president of mortgage origination and will oversee the credit union’s external and internal mortgage loan officers. Anders has been with Workers for over 30 years, and has a background in politics and journalism. She is the perfect candidate to take the helm of Hoosier Hills Credit Union. If you’re in the market for a mortgage loan, this could be the perfect opportunity for you!
The Virginia Credit Union recently attempted to expand its membership to include the state’s medical society. This preliminary approval sparked backlash from local banking advocates. The Virginia State Corporation Commission, which oversees state-chartered financial institutions, denied the credit union’s request to add 10,000 members from the Medical Society of Virginia. The reason for this decision was that the new additions did not adhere to the state’s law.
It will continue to serve its members under the Hoosier Hills Credit Union name
A merger is under way between two Indiana credit unions – Hoosier Hills Credit and Dearborn County Federal. The new entity will continue serving its members in the same location at 600 Wilson Creek Road, Lawrenceburg. Members will retain the same name and services. However, they will receive expanded services as part of the deal. According to a press release, the new entity will offer a range of financial services to its members.
The HHCU Mortgage Officer builds credible relationships with both internal and external members, focusing on meeting member needs and recommending appropriate products and services. They maintain the highest level of professionalism and follow best practices when engaging with members, while using their knowledge of residential mortgages and lending guidelines to create exceptional member experiences. This position also provides revenue for the credit union and is responsible for establishing new business relationships.
It is a not-for-profit financial cooperative
The Hoosier Hills Credit Union is a not-for-profit financial cooperative that serves members in 40 counties in southern Indiana and northern Kentucky. Membership in the credit union is as easy as depositing $5 and becoming an owner of the organization. Founded in the break room of GM Central Foundry in Bedford, Indiana, the credit union now serves over 33,000 members. Its mission is financial wellness for every member.
The Louisiana Membership Benefits Report includes lower average interest rates on loans and credit cards. In addition, Louisiana credit unions offer higher savings yields on deposit accounts and lower fees than banks. For example, a 60-month new car loan at a credit union costs 3.01% versus 5.03% at Louisiana banks, a savings of $273 annually. That’s a big difference.
The change in name won’t affect the financial institution’s 145,000 member-owners. Credit cards, debit cards, checks, and automatic deposits will continue to work as usual. ATMs and signs at 14 locations will also be updated. The rebranding project is expected to be completed this fall. It will take place in phases, and there will be no interruption of service for members.