Thank you for sharing!

Your article was successfully shared with the contacts you provided.
State sign of Indiana State of Indiana. (Source: Shutterstock)

Indiana regulators approved what is believed to be the state’s first consolidation of a credit union into a bank.

To facilitate the consolidation, the Department of Financial Institutions in Indianapolis on Friday first approved the application of the $18.7 million Adams County Farm Bureau Cooperative in Monroe to convert from a state-chartered credit union into a state-chartered mutual savings bank. Immediately after that application was approved, Indiana regulators also approved the application of the $702 million First Bank of Berne for the credit union to consolidate into the Berne-based bank.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Peter Strozniak

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.