The Bank Slate


Centra CU and Hoosier Hills CU in Indiana announce merger

Centra Credit Union in Columbus, Ind., and Hoosier Hills Credit Union in Bedford, Ind., are planning to merge.

The $2.1 billion-asset Centra and the $900 million-asset Hoosier Hills expect to complete their merger by July 1.

“The larger organization will be more nimble, proactive and better able to introduce products and technological advances to meet members’ needs in an ever-changing market with greater impact than either could individually,” Rick Silvers, Centra’s president and CEO, said in a press release.

“The lack of redundancy in this partnership means all service centers of both credit unions will remain open and all team members will have a role in the unified organization,” he added.

Travis Markley, Hoosier Hills’ president and CEO, will become Centra’s chief experience officer.

Centra completed its merger with the $43 million-asset NorthPark Community Credit Union in Indianapolis earlier this month.

Edelman and Krieg DeVault advised Centra CU. Piper Sandler and Luse Gorman advised Hoosier Hills.

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