Financial Center First Credit Union and Ball State Federal Credit Union will officially merge on November 1, 2020 following a 77% approval vote by Ball State Federal Credit Union membership mid-July. The combined credit union will be $750 million in assets and will serve more than 75,000 members throughout Central Indiana.
The merger will be Indiana’s largest credit union to credit union merger in history and will allow the Muncie-based credit union to do business as Ball State Financial – retaining its name and strong affiliation with Ball State University.
J. Kevin Ryan, current President and CEO of Financial Center First Credit Union, will lead the combined credit union as CEO. Ball State FCU’s CEO of over 32 years, Randy Glassburn, will retire at the end of 2020, but will actively be engaged during the consolidation process.
Ball State FCU will assume Financial Center’s state charter – expanding its 12 county footprint to include Delaware, Henry and Madison counties and opening up the entire I-69 corridor between Indianapolis and Muncie for membership eligibility.
“The combined strength of our organizations will allow us to offer excellent service, state-of-the-art technology, and award-winning financial education to our members and to serve Ball State University and its students and alumni as they move throughout Central Indiana,” said J. Kevin Ryan, Financial Center’s President and CEO.
Ball State FCU will offer members an expanded suite of products, technology and branch network, as well as Financial Center’s six-time nationally-recognized financial education program. Financial Center also plans to remodel Ball State FCU’s main office in 2021 to include its signature learning center and financial library.
“Both our credit unions want the same thing – to do what’s best for our members,” says Randy Glassburn, CEO of Ball State Federal Credit Union. “The confidence of our membership in the vote spoke volumes to their recognition of the value that this partnership brings. We are looking forward to a very bright future as a division of Financial Center.”