Brought to you by WBIW News and Network Indiana
Last updated on Monday, June 12, 2017
(BEDFORD) - The Hoosier Hills Credit Union is growing and expanding and they are celebrating the completion of the new Annex Building addition at their Bedford headquarters, as well as organization growth that puts Hoosier Hills Credit Union of more than $500 million in assets.
Groundbreaking at their 8,700 square foot building took place in November 2016. Move-in began in mid-May and is now complete. This addition houses HHCU's Finance and Accounting departments, as well as Electronic Funds Transfer, Internal Audit, Compliance, Human Resources, and the Credit Union's Training Center. The building provides more than 30 office spaces, a training room and two conference rooms.
George McNichols, HHCU President and CEO discussed how excited we are to be moved into the new building, "We have found ourselves out of space for nearly a year due to the outstanding growth we're experiencing. Our staff is excited to be settled in their new building. The new Annex also allows for additional growth in the near future. It's exciting to be expanding our presence in the Lawrence County community and beyond."
Not only is the Credit Union physically expanding into new space, but it is also growing and expanding in size. HHCU surpassed the $500 million in assets milestone at the end of March. Hoosier Hills' assets at the end of the first quarter 2017 were $501,643,300.
They finished with strong year-end financials. In 2016, the Credit Union experienced 16 percent loan growth, along with 7 percent deposit growth. HHCU's capital ratio at year-end was 9.6 percent, which compares very favorably to the 7.0 percent required by federal regulators for well-capitalized credit unions.
"We know our growth is directly tied to the business you, as members, do with the Credit Union. We realize you have many choices when it comes to where you get your mortgage loan, where you have your checking account, where you finance your car, where you get your commercial loan, where you invest your money, and where you use any financial service," McNichols says. "Our success is a tribute to your loyalty and to our employees, who provide such excellent service. Thank you for allowing Hoosier Hills Credit Union to be your financial partner."
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