Interra Credit Union on Thursday announced it recently celebrated two major milestones related to total assets and number of members.
As of Sept. 30, the Goshen, Ind.-based CU said its total assets topped $1 billion for the first time in its 85 years of operations. In addition, in late August, total credit union membership passed the 75,000-member mark, management reported.
“At Interra, we are growing to serve members,” Amy Sink, Interra Credit Union’s CEO, said in a statement. “The growth we have enjoyed is a testament to the trust and loyalty our member-owners place in their credit union and also of the communities in which we do business.”
What is now Interra Credit Union was founded in Goshen during the Great Depression, in 1932. Seven charter members each pledged five dollars, but not every member could pay the whole sum at once; some had to pay in installments. With $19.50, the founders applied for the charter.
Today, Interra CU is privately insured by American Share Insurance of Dublin, Ohio. According to financial reports available on the ASI website, as of Dec. 31, 2014, Interra’s total assets were $720,036,886. As of Dec. 31, 2015, total assets had climbed to $803,396,066. As of Dec. 31, 2016, the CU had $918,936,365 in total assets.
In the most recent financial report available, as of June 30, 2017, Interra CU’s total assets had reached $960,107,714.
Interra serves its 75,000-plus members via 16 offices located in Elkhart, Kosciusko, LaGrange, Marshall and Noble counties in Indiana and through electronic services at interracu.com.