Centra Credit Union to merge with NorthPark

Thursday, December 14, 2023 at 11:05 AM

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Centra Credit Union has announced an upcoming partnership with NorthPark Community Credit Union.

The merger would bring NorthPark into Centra Credit Union while bringing more benefits to the combined members. Centra Credit Union says members’ accounts, services, and digital banking information will not be impacted by the partnership. More information will be released to members in the coming months.

NorthPark owns two branch locations, in Zionsville and Lebanon, which Centra will work to reopen mid-year 2024 to expand to the branch network.

No branches will be closed as a result of the partnership. Once the credit unions are combined, 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.

NorthPark is an award-winning leader in financial education and serving the underbanked. They call this program their Onward initiative, which Centra will adopt and expand in 2024.

NorthPark has experience and expertise serving the Spanish-speaking community, which will bring more Spanish language resources to our Membership.

NorthPark is an entirely virtual credit union with approximately $43 million in assets and 4,800 Members. NorthPark was chartered in 1933 in Lebanon, Indiana.

Centra and NorthPark’s field of membership will be combined, meaning more people will be eligible. Due to a regulatory limitation, the township of Decatur in Marion County will not be eligible for membership, but any existing members in the township may continue to bank with the credit union. Additionally, individuals living in Decatur township may qualify through other membership eligibility options, such as through an employer.

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