Crane Credit Union President/CEO Bob Downs has retired after a 29-year career at the credit and will be succeeded by Kevin Sparks.
Downs joined the Odon, Ind.-based credit union in 1988 and oversaw a number of major changes and milestones, including growing assets from $48 million to $558 million, converting from a federal charter to a state charter and going from one location to 14 branches across central and southern Indiana.
Downs is turning the reins over to Sparks, who has more than 20 years of experience in the financial services industry, 14 of it at Crane CU.
Crane Credit Union was chartered in 1955 with one branch located on the Naval Support Activity Crane Base.
In 2017 it earned $5.3 million in net income. According to its March 2018 NCUA call report, the credit union currently has more than $400 million in loans and leases on the books, including $50 million in commercial lending, and approximately $150 million each in real estate and auto lending.