WABASH, Ind. — Shedding the "Farm Bureau" moniker and adopting a community charter with a strong ag focus has long been a winning strategy for a Farm Bureau alum, the $600 million Wabash Credit Union, its president/CEO said Friday.
"Yes, we've been through that change but we made the switch on our own and it's helped our image," declared Bruce Ingraham, the head of the state's seventh largest CU making reference to the rebranding this week by Elkhart County Farm Bureau CU in Goshen to become "Interra CU."
The former Wabash County Farm Bureau CU adopted the Beacon name in 2001 " and is one we developed on our own and been great for us since we're able to use the 'guiding light' theme in all our advertising," said Ingraham. The CU's official tagline is " Guiding the Way."
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Meanwhile, the Wabash CU, with branches in 15 north central Indiana counties, has also found a significant national niche in being the top ag lender with a $200 million portfolio and growing as a result of a vibrant business loan operation with six ag loan staffers on board, said Ingraham.
In fact, said the Wabash CEO, "we saw our ag loan business climb 12%" during the year, up from the 8-10% ratio in past years and far outpacing the laggard mortgage and consumer loan areas.
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