Courtesy-Centra FB page
COLUMBUS, Ind. – Members of Centra Credit Union and NorthPark Community Credit Union have voted in favor of a partnership that will merge NorthPark into Centra Credit Union. They will legally merge on January 1, 2024.
“I think this merger is a good thing for members. We keep all the benefits of being virtual, but add the branches and services of a larger credit union. And I’m thrilled that all the local employees can continue their outreach and community involvement,” a NorthPark Member said.
Centra will immediately begin work to reopen NorthPark’s two closed service centers in Zionsville and Lebanon. The two locations have been closed since 2019 when NorthPark began operating as a virtual-only credit union. After repairs and renovations, the Lebanon site should reopen in the second quarter of 2024 while the Zionsville target date is the second half of 2024. Renovations include adding office space for mortgage lenders, financial advisors, and business services experts.
$43 million NorthPark Community Credit Union first announced its intent to merge with $2 billion Centra Credit Union in October after the Indiana Department of Financial Institutions (DFI) and National Credit Union Association (NCUA) approved the merger, pending Member approval.
NorthPark cited the merger as beneficial to its Members due to Centra’s expansive products, services, and experience, especially with home loans and wealth management services.
Centra leadership anticipates that it will take around 12 months to fully integrate the two credit unions’ systems and operations, and Members of NorthPark can expect regular updates on the progress as well as any impacts to them.
