Dearborn County Federal Credit Union in Lawrenceburg and Bedford-based Hoosier Hills Credit Union are planning to merge later this year. The credit unions say the merger has been approved by both boards but is still subject to regulatory approval and a member vote at DCFCU.
The merger is expected to provide additional services to Dearborn County FCU’s nearly 2,000 members and will add $16 million in assets. Hoosier Hills currently operates nine service centers throughout southern Indiana.
“I’m proud that Dearborn County Federal Credit Union is financially strong and healthy and providing great service to our members,” said Katee Goodpaster, chief executive officer of Dearborn County Federal Credit Union. “Because it has become more difficult to absorb the increasing costs of compliance, information security and technology, we voluntarily made the strategic decision to find a long-term partner with a similar culture and philosophy around member service, employee engagement and community involvement. After a thorough evaluation of potential partners, we selected Hoosier Hills Credit Union.”
Travis Markley, CEO of Hoosier Hills Credit Union, will lead the combined credit union as CEO. Goodpaster will become vice president of operations for the Lawrenceburg service area.
“We are delighted to be the chosen partner for Dearborn County Federal Credit Union,” commented Travis Markley, CEO of Hoosier Hills Credit Union. “Our goal is to carry on the proud heritage of Dearborn and to expand upon their current strengths, as well as bring additional strengths, services, and convenience to both the existing and future members in the community. Everyone wins with this merger – Dearborn County Federal Credit Union, Hoosier Hills Credit Union, our members and the communities served by both organizations.”
Dearborn County FCU provides services to the Dearborn, Ripley, Ohio and Switzerland counties. The credit union is expected to continue to serve its members under the Hoosier Hills name in the same location with its current management and staff. The credit unions anticipate opening a second service center location to offer further accessibility and more services for DCFCU members.