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Exciting Announcement from Centra
Centra Credit Union is excited to announce an upcoming partnership with NorthPark Community Credit Union! This merger would bring NorthPark into the Centra Credit Union family while bringing even more benefits to our combined Members. Centra Credit Union Members’ accounts, services, and digital banking information will not be impacted by this partnership. You will receive more information on this exciting opportunity in the coming months.
Here are some of the top benefits for Centra Members:
- NorthPark owns two branch locations, in Zionsville and Lebanon, which Centra will work to reopen mid-year 2024 to expand to our branch network.
- 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.
Have more questions? Check out the FAQs below.
Q: Why is NorthPark Community Credit Union pursuing a merger with Centra Credit Union?
A: This partnership will create significant value for our Members. Our missions and visions are aligned, and we believe we can combine our Credit Unions in a mutually beneficial manner.
Q: Who is NorthPark Community Credit Union?
A: NorthPark Community Credit Union has a mission of “Leading communities to financial wellness” and a vision of “Advancing financial inclusion onward.” NorthPark is focused on making Members’ lives better and serving their community, especially the underserved.
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.
Q: Will any branches, ATMs, and service hours be impacted?
A: No branches will be closed as a result of the partnership. In fact, once the credit unions are combined, Centra Credit Union will work to reopen the two branches owned by NorthPark in Zionsville and Lebanon, IN in mid-year 2024.
Once the partnership is approved and the integration of the two credit unions is complete, you will also have access to all Centra’s existing 25 branches, ATMs, and ITMs. Centra is also part of the CO-OP ATM Network and Shared Branch Network, giving Members access to more than 30,000 free ATMS and more than 5,000 free branch locations across the country.
Branch hours are generally 8:30 am – 5 pm Monday – Thursday, 8:30 am – 6 pm on Friday, and 8:30 am – Noon on Saturday. Additionally, you will have access to phone, live interactive teller machine (ITM), and online chat support from 8 am – 6 pm Monday – Friday and 8:00 am – 2 pm on Saturday.
Q: Will I still receive the same personalized service?
A: You will have all the same service options with the added benefits of an expanded branch network, Contact Center, and ATM/ITM network.
Q: Will the merger affect Membership eligibility?
A: Yes, in a very positive way! Centra and NorthPark’s field of Membership will be combined, meaning more people will be eligible for Membership. 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.
Q: What is the merger process and timeline?
A: Members of both credit unions will have the chance to vote on the partnership. This is scheduled for December 4, 2023. If Members vote to approve the partnership, then it will become legal on or around January 1, 2024. After that, we will begin working together to integrate and onboard NorthPark Members and Team Members into the Centra family and expand the Onward outreach work.