Indiana

Funds originally slated to assist credit union employees with attending conferences will now be used to help the state league put on virtual events.

Ball State FCU has announced plans to merge into Financial Center First CU following losses tied to high charge-offs, particularly in the used car area.

Even in the face of soft loan demand, banks in the region have held firm on terms. That should position them well for the next economic downturn.

David Becker, who founded First Internet Bank two decades ago, says traditional banks' digital-only ventures are only making his bank look more mainstream.

An Indiana bank is looking to complete the first outright purchase of a credit union since the financial crisis. Though hurdles exist, some industry observers say more such deals are doable.

First Bank of Berne has agreed to acquire Adams County Credit Union, turning the tables in a year in which 14 credit unions have announced deals to buy banks.

The Pennsylvania company will pay $346 million for MutualFirst Financial.

A successor to Janet Bantz, who has led the Indiana-based institution since 1989, has been selected but not formally announced.

Indiana Members Credit Union will pay cash for Commerce Bank.

3Rivers Federal Credit Union in Indiana will pay about $38 million for West End Bank.

The Cleveland regional said the matter is tied to a commercial client and that law enforcement is investigating it.

These programs are allowed in a majority of states, but only a small portion of credit unions offer them. That may change as the need for deposits grows and consumer expectations shift.

First Internet is poised to acquire an SBA lending team to help it meet an ambitious loan target for the year — a target the CEO plans on doubling in coming years.

The Indiana company, which has an acquisition pending, will make more loans in minority neighborhoods around Indianapolis.

There have been six of these transactions announced this year and more are likely as credit unions look for loan and deposit growth.

First Internet will gain lenders and servicing staff, along with offices in Chicago and Indianapolis, from the deal.

The Odon, Ind.-based credit union also grew its membership to over 50,000, up more than 9% from a year earlier.

The Indiana credit union agreed to pay $21.3 million in cash for New Bancorp, which was created when its savings bank converted to a stock-owned company in 2015.

The latest World Council of Credit Unions project in the Caribbean will see the island nation working alongside Indiana CUs to share best practices, strategic initiatives and more.

Several credit union leagues and credit union service organizations have formed a new group, called AffirmXCU, that will offer risk management technology.