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From the June-10, 2009 issue of Credit Union Times Magazine • Subscribe!
Indiana CU Completes Merger
The $1.2 billion Indiana Members Credit Union of Indianapolis said last week it completed a merger with the $13 million Marsh Employees FCU of nearby Fishers.
Officials stressed the consolidation, under discussion since last year, represents a combination of two "healthy and strong" credit unions seeing the wisdom in economies of scale and enhanced branch and ATM services.
Until the NCUA stabilization, Indiana Members has been operating with return on assets of 0.91%, finishing up 2008 with nearly $10 million in net income.
The Marsh merger for Indiana Members is its first in three years. The combined organization will have 25 branches in central Indiana plus two Colorado branches.
Chartered in 1958, Marsh had 4,800 members and served employees of the Ohio and Indiana supermarket and pharmacy chain. Indiana Members was founded in 1956 as the Indiana University Medical Center FCU.
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