Mike Wolanin | The Republic A large graphic on the front of the Centra Credit Union location at 501 Washington Street shows how much money Centra Credit Union President and CEO Rick Silvers has raised for Turning Point during his Raise the Roof with Rick event in Columbus, Ind., Friday, Sept. 16, 2022.
COLUMBUS, Ind. — Members of both Centra Credit Union and NorthPark Community Credit Union voted in favor of a partnership that will merge NorthPark into Centra Credit Union. The two credit unions will legally merge as of Jan. 1, 2024.
Centra will immediately begin work to reopen NorthPark’s two closed service centers in
Zionsville and Lebanon. The two locations have been closed since 2019 when
NorthPark began operating as a virtual-only credit union. After repairs and renovations take
place, the Lebanon service center is expected reopen in the second quarter of 2024 while
the Zionsville service center is expected to reopen in the second half of 2024. Part of the
renovations will include adding office space for mortgage lenders, financial advisors, and
business services experts.
“We are very excited about the partnership of two like-minded and like-missioned credit
unions coming together to serve our members and communities with expanded resources,
field of membership, and services. NorthPark will continue its focus on financial education
as a vertical of Centra, serving the unbanked and underbanked in the community. We truly
are stronger together,” NorthPark Community Credit Union CEO Carma Parrish said.
$43 million NorthPark Community Credit Union first announced its intent to merge with $2
billion Centra Credit Union in October 2023 after the Indiana Department of Financial
Institutions (DFI) and National Credit Union Association (NCUA) approved the merger,
pending Member approval. In the official reasons for the merger submitted with the merger
application to regulators, NorthPark cited the merger as beneficial to its members due to
Centra’s expansive products, services, and experience, especially with home
loans and wealth management services. Centra was interested in reopening NorthPark’s
service centers and expanding the credit union’s award-winning financial inclusion program
Onward. After NorthPark legally merges into Centra on Jan. 1, Centra will begin work on
both initiatives.
“NorthPark and the Onward program are making a truly meaningful difference for individuals who are unserved and underserved by traditional banks. By reopening their service centers and expanding their financial outreach through Centra, we can live out our vision of creating value for the members, team members, and communities we serve,” President and CEO of Centra Credit Union Rick Silvers said.
Centra leadership anticipates that it will take around 12 months to fully integrate the two
credit unions’ systems and operations, and members of NorthPark can expect regular
updates on the progress.
