Centra Credit Union said it is now one of the largest locally owned and operated financial institutions in central and southern Indiana. Having surpassed $1 billion in total assets, Centra is also the third largest credit union in Indiana.
“Passing the $1 billion milestone is important to us because it demonstrates that we are providing needed financial services to the more than 123,000 individuals who bank with us,” said Loretta Burd, Centra CEO. “Not only have we grown larger, but we also remain extremely solid financially.”
Founded in 1940, Centra is based in Columbus, Ind., and serves communities in central and southern Indiana, as well as in Jamestown, N.Y., and Whitakers, N.C.
The credit union said last year was a particularly strong year for Centra growth, and that growth has continued into 2012. Loan volume grew by more than 10% during 2011, and deposit growth was more than 9% for the year. Centra’s 0.80% return on assets for the year, and a capital ratio of 11%.
Centra said, “Thanks a Billion,” to its members with a member appreciation day earlier this month. The celebration included refreshments in each branch and several prize drawings as a thank you for keeping the credit union growing and strong.