INDIANAPOLIS, Ind. (Inside INdiana Business) – Indianapolis-based Financial Center First Credit Union and Ball State Federal Credit Union in Muncie are planning to merge. Following a 77% approval vote by Ball State FCU members, the merger will become official November 1.
Financial Center First says the combined credit union will have $750 million in assets and serve more than 75,000 members throughout central Indiana. The credit unions say the deal will be the largest merger involving two credit unions in the state’s history.
“The combined strength of our organizations will allow us to offer excellent service, state-of-the-art technology, and award-winning financial education to our members and to serve Ball State University and its students and alumni as they move throughout Central Indiana,” said Kevin Ryan, Financial Center’s president.
The credit union says Ball State Federal Credit Union will do business as Ball State Financial.
Ryan will lead the combined credit union as chief executive officer. Ball State FCU’s chief executive officer of over 32 years, Randy Glassburn, will retire at the end of 2020, but will actively be engaged during the consolidation process.
Ball State FCU will assume Financial Center’s state charter, expanding its 12-county footprint to include Delaware, Henry and Madison counties.
Financial Center says it also plans to remodel Ball State FCU’s main office next year to include its signature learning center and financial library.