Interra Credit Union and Bluffton Motor Works/Franklin Electric Employees' Credit Union Merger Completed
INDIANA – Interra Credit Union and Bluffton Motor Works/Franklin Electric Employees’ Credit Union have officially completed the credit union merger, creating a stronger, more resilient financial institution committed to serving its members with enhanced resources, innovative products, and service of excellence.
In early August, the merger was approved by members of both credit unions and received the necessary regulatory approval as well. It officially was completed on September 1. The combined entity will operate under Interra Credit Union, with a shared vision to empower members through financial growth and community support.
Highlights of the Merger:
• Increased Resources: The merger brings together the assets and strengths of both credit unions, resulting in the capacity to offer expanded services and competitive rates.
• Broader Member Base: Although already part of the field of membership for Interra, serving members in Bluffton ensures greater accessibility and convenience.
• Enhanced Product Offerings: Members will benefit from an expanded suite of financial products and services, including technology banking, checking, savings, lending (personal, ag and commercial), mortgage and wealth management. All of these products and services are tailored to meet the diverse needs of the membership.
Leadership and Governance: The direction of the merged credit unions will be led by Interra’s Chief Executive Officer, Amy Sink, and Chief Operating Officer, Andy Marshall.
“For over 90 years, Interra has been committed to being our members’ most trusted and valued financial resource. We are committed to making that true for our new Bluffton members as well,” shared Amy Sink, CEO.
“I was born and raised in Wells County,” added Andy Marshall, COO. “For the people in my hometown area, Interra’s products offer unmatched value and support. We’re the nation’s #1 commercial credit union lender and #2 ag credit union lender. And with our full banking products, it’s easy to understand why Interra is a strong fit with this merger.”
About Bluffton Motor Works/Franklin Electric Employees’ Credit Union.
BLMW/FEECU was originally chartered in 1952 as Franklin Electric Employees’ Credit Union. Franklin Electric later transitioned to Bluffton Motor Works thus the renaming of the credit union to Bluffton Motor Works/Franklin Electric Employees’ Credit Union. In 2016, WEG Commercial Motors purchased Bluffton Motor Works, but for the sake of continuity, the credit union did not change its name. It holds $800,000 in assets and provides nearly 300 members with savings and lending services.
About Interra Credit Union.
Interra Credit Union, headquartered in Goshen, Indiana, was chartered in 1932 and has assets of $1.8 billion. The credit union’s field of membership spans 24 counties in northern Indiana, with more than 325 full and part-time employees serving nearly 90,000 members. Interra is recognized by Callahan & Associates as the credit union #1 ag lender in the nation. Interra currently operates 16 offices in Elkhart, LaGrange, Kosciusko, Marshall, and Noble counties in Indiana and via robust electronic services at interracu.com.
