About us

IFCU Annual Meeting of Membership

Why Should You Attend?

The Credit Union’s Annual Meeting is the Annual Meeting of Membership.  The event is casual and open to the entire family.  Members are invited to arrive as early as 6:00 p.m. to enjoy hors d’oeuvres.  The meeting will begin at 7:00 p.m. to announce last year’s results and the plans that leadership has for the year.  There will be time to ask questions, voice opinions, and learn how members can be involved in the Credit Union.  When members actively participate and share ideas, the entire credit union benefits.  You will have the opportunity to meet the Board of Directors, President/CEO, and the Management Team.  You will also be able to talk with staff who you see in the branches and talk with on the phone every day!   Plus, you can meet other credit union members.

You are One of Our Owners!

When you joined the Credit Union, you became an owner.  There are no stockholders—all members are equal owners of the Credit Union.  As a not-for-profit financial institution, IFCU reinvests profits back to members through lower fees, higher deposit interest rates, lower loan rates, and other unique benefits.  This is the fundamental difference between a credit union and a bank.  It is what makes us a family! 

We Will Plan to See You on June 18!

Whether you are an IFCU member or a guest, everyone is invited to attend our Annual Meeting!

IFCU Annual Meeting of Members

The Nominating Committee nominated three individuals to be elected as Directors at the Annual Meeting:  Julie Cole and Jim Hardison, who are current Directors, and Pam Thompson as a new Director.  

Julie Cole has served as an IFCU Board member since March 2008. She attended Ball State University majoring in Business Management as well as getting her BS degree in Business Management from Indiana Wesleyan. Julie has held the position of Manager of Associate Services at Subaru of Indiana Automotive, Inc. since 1998. Before that, Julie worked as the Human Resource specialist at Foster Forbes Glass Company for 8 years.

Jim Hardison has served as an IFCU Board member since March 2018.  He is a life-long resident of Tippecanoe County and a graduate of Purdue University with a Bachelor’s Degree in Electrical Engineering.   He retired in September 2016 as Vice President of Human Resources for Indiana Packers Corporation after 30 years in the Human Resources field.  Jim serves as the Chairman of the American Meat Institute’s (AMI) Human Resources Committee and is Chairman for Indiana’s Region 4 Workforce Investment Board, which represents 12 counties in North Central Indiana. He was hand selected to sit as an initial member for Immigration and Naturalization Service’s Basic Pilot Program (now known as E-Verify) Advisory Panel from 1996 to 2002.

Pam Thompson was nominated as a new Director.  She retired from IFCU in June 2018 after 17 years of service, most recently as Branch Manager.  Prior work experience includes 22 years in the medical field and 9 years in the National Homes plant office.  She is a long-time resident of Lafayette and a graduate of Purdue University with a BS from the School of Technology and an Associate Degree in Organization Leadership and Supervision.  Prior to working at IFCU, Pam volunteered as a Director for IFCU for 23 years and held the positions of Chairman, Vice Chair, and Secretary.

Nominations for vacancies may also be made by petition signed by 1% of the members with a minimum of 20 and a maximum of 500. The number of members as of December 31, 2018 was 31,594; therefore, a minimum of 316 member signatures are required. This petition, along with a brief statement of qualifications and biographical data on the nominee must be submitted to the Secretary no later than May 9, 2019. To be effective, nominations by petition must be accompanied by a signed certificate from the nominee or nominees stating that they are agreeable to nomination and will serve if elected to office. Members must be at least 18 years of age by the date of the meeting in order to vote at meetings of the members, hold elective or appointive office or sign nominating petitions.

Petitions must be sent to:  James Dunbar, Secretary, Industrial Federal Credit Union, 1115 Sagamore Parkway South, Lafayette, IN  47905

The election will not be conducted by ballot and there will be no nominations from the floor when the number of nominees equals the number of positions to be filled.

Our Vision

Making a difference. sharing the benefits.
As a member-owned financial institution, our priority is to provide quality financial services that consistently exceed expectations and mutually benefit our members and their credit union.
Our vision is to serve as our member’s primary financial institution by tailoring products and services that meet their financial goals and objectives.

Our Difference

Our Board of Directors are members of IFCU too, and work hard to incorporate the philosophy " not for profit, but for service."
Members at a credit union are member-owners because his or her deposit represents a share of ownership; however at a bank, the owners are typically small groups of investors. Credit union members are united by a common bond of membership.

Our Commitment

IFCU's employees give freely of their time, talents, and energy throughout the year by contributing to several great causes.
With the credit union philosophy of "people helping people" in mind, IFCU believes in giving back to the communities around us. We’re dedicated to helping better our communities through a wide variety of sponsorship and education programs. Through financial contributions, resource donations, and staff volunteering; IFCU supports several events in our community.

who are we?

As a member-owned financial institution, our priority and mission is to provide quality financial services that consistently exceed expectations and mutually benefit our members and their credit union.


The Credit Union Difference

A credit union is a financial cooperative composed solely of member-owners who share the philosophy of “not for profit, but for service.” Unlike some financial institutions, the people on our volunteer Board of Directors are member-owners, who work in the best interest of other fellow member-owners. Since the Board of Directors are volunteers, profits are returned to members in the form of lower loan rates, low or no-fee products and services, and higher savings rates.

Members at a credit union are member-owners because his or her deposit represents a share of ownership; however at a bank, the owners are typically small groups of investors. Credit union members are united by a common bond of membership.

Financial markets fluctuate over time. When the market dips, banks tend to either raise loan interest rates or close altogether. Credit unions rely on financial reserves to absorb unexpected losses, so members are protected when times get tough. Also, IFCU is insured by the National Credit Union Administration (NCUA), a U.S. government agency, for deposits up to $250,000.

Our History

The employees of Ross Gear (now TRW Ross Gear Division) originally chartered Industrial Federal Credit Union (IFCU) in 1954. It was their desire to lay the foundation for a financial institution owned and directed by its own members. Originally located in a tiny office on the Ross Gear premises at 800 Heath Street in Lafayette, the credit union offered savings accounts and small personal loans. Although our services and locations continue to expand, we're still directed by the philosophy of our founding members—service to our members. It's the reason we're here. Today, it is still owned by its shareholders, others like you who have a credit union account. Membership remains exclusive to those affiliated with IFCU and their immediate family members. Membership is forever, even if you leave the employer through whom you joined IFCU.

Since its modest beginning in 1954 your credit union has grown to over $172 million in assets offering full service banking to over 32,000 members. Your credit union succeeds through its mission of building valued member relationships by delivering convenient, personalized banking solutions.

IFCU's Volunteer Board of Directors:

  • Albert L. Davis, Jr. - Chairperson
  • James Dunbar - Secretary
  • Mary Ann Kot - Treasurer/Financial Officer
  • Jason Gregory - Director
  • Julie Cole - Director
  • Art Schai - Director
  • Jim Hardison - Director