About us

 

IFCU Annual Meeting

Tuesday, June 19, 2018 - 7:00PM
The Outpost Catering and Banquet Facility
2501 Old U.S. Highway 231 South
Lafayette, IN 47909

Notice of Nominations:

The nominating committee has nominated Albert Davis, Jim Dunbar, Jason Gregory and Jim Hardison. These nominees have had previous experience serving on the Board and have been nominated for re-election.

Albert Davis has been a member of IFCU’s Board of Directors since February of 2005 and is currently serving as Chairman, a position he has held since 2010. For more than 30 years he held the position of Finance Manager for Lafayette’s Housing Authority before becoming Executive Director. He retired from that position in 2014. He currently owns and operates a modest tax preparation service, specializing in clergy and clients with investment income. Mr. Davis has a bachelor’s degree from Purdue University which included coursework in family counseling that led him to becoming a “Financial Peace University” instructor in his faith-based community. He also serves as Treasurer for his church. He enjoys the challenges of running a successful business, sharing his financial acumen and the opportunity to work with talented and dedicated professionals that hold leadership positions at IFCU.

Jim Dunbar has served as an IFCU Board member since 2015, and is a lifelong resident of Lafayette. Jim attended Purdue University where he received his Bachelor of Science Degree. Jim is also active in local church committees and is a member of Gideon’s International. He retired from Alcoa in 2015, after 42 years of service in the Accounting Department, where his last position was Financial Analyst Specialist.

Jason Gregory was elected to the IFCU Board in 2014 and served until June 2017. He was then re-appointed in August 2017 to fill an open Director position. Jason graduated from Purdue University with a degree in Chemical Engineering, working for a manufacturing firm in Lafayette until 2007. He then made a career change into financial services as a Financial Advisor.

Jim Hardison was appointed to the IFCU Board in March 2018 to fill an open Director position. 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.

There were no nominations by petition. Given that the number of nominees equals the positions to be filled, there will be no nominations from the floor.

 

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