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.

Retirement party for Bob Downs, CEO at Crane Credit Union in Odon, Ind. Pictured above, from left to right, are: David Frye, director; Kenny Greenwell, director; Gary Gray, chairman of the board; Bob Downs, Crane Credit Union outgoing president/CEO; Kevin Sparks, current Crane Credit Union president/CEO; Dale Padgett, director; and Bruce Cummings, director.
Crane Credit Union fetes Bob Downs (center) as he retires from the Odon, Ind.-based institutions after 29 years.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.