KOKOMO, Ind.–Ground has been broken here on a new branch that coincides with the announcement of a merger between Financial Center First CU and Kokomo Heritage FCU.
Indianapolis-based FCFCU has $560-million in assets and approximately 62,200 members, while Kokomo Heritage FCU, which was founded to serve Continental Steel, has $9 million in assets and approximately 1,800 members.
The new 3,450-square-foot branch is being built to serve the combined membership, and will include a financial library, interactive kiosks where members can access Wealth Builder Online, access to an online financial education platform, conference offices, and a 1,000-square-foot education center that will host free financial education classes and serve as a free community meeting space for local groups and clubs, according to the Kokomo Tribune.
The branch will also have two drive-ups, a drive-up ATM, a coffee café, and a coin counter. It is also a participant in the CO-OP Shared Branching Network.
Set for Fall of 2019
According to the credit unions, the merger will take place in the fall of 2019 around the same time the new branch will open.
“As credit unions, we’re owned by our members, and the most exciting thing about this merger is that it’s the member-owners of both credit unions who will benefit from our growth,” said Financial Center President and CEO J. Kevin Ryan in a statement.
Kokomo Heritage’s FCU CEO Art Lehman will remain with the merged institution.
Old Branch to Be Donated
Financial Center First CU said it will donate Kokomo Heritage’s current branch to the Literacy Coalition of Howard County Inc.
Literacy Coalition Director Bob Stephenson told the Kokomo Tribune that the organization’s board “is unsure whether we will move or put it up for sale.”