Crane Credit Union to Buy Owen County Bank

(photo courtesy of Crane Credit Union)

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Odon-based Crane Credit Union and Home Financial Bancorp have announced plans to acquire Our Community Bank in Spencer. CCU, which serves the greater Indianapolis area down to Evansville, says the deal will allow it to expand into Owen and Putnam counties.

Crane says the transaction, which is expected to close in 2021, was unanimously approved by the board of directors of both institutions. Afterwards, the credit union says OCB’s locations will operate as CCU offices and its customers will become CCU members.

“We are excited to join Crane Credit Union because of the expanded opportunities it brings to our customers, our employees, and our communities,” said Kurt Rosenberger, president and chief executive officer of Our Community Bank. “CCU has the financial strength, systems infrastructure, and expanded products to help us better serve our current and potential customers. Most importantly, CCU and OCB fit culturally and philosophically.”

Financial terms of the acquisition were not disclosed.