Crane Federal Credit Union and Centurion Federal Credit Union have announced that the two organizations will be joining together effective as of the close of business on September 18, 2015. In a special meeting of the members of Centurion Federal Credit Union, the membership overwhelmingly approved the merger with Crane.
As part of the agreement, Centurion Federal Credit Union will now be referred to as Centurion, A Branch of Crane Credit Union.
Crane will maintain the existing Centurion staff members along with their 3 branches in Evansville, IN.
Members of Centurion will now have access to new services such as free mobile banking with remote deposit capture and shared branching. The merger also allows Centurion to take advantage of real estate, business, and construction loans offered by Crane.
“We are thrilled to be working with members and staff at Centurion,” said Crane CEO Bob Downs. “This merger will help strengthen the products and services offered by Centurion and we look forward to serving members and being part of the Evansville community.”
The combined credit union will have assets of over $476 million and nearly 44,000 members, the majority of which live and work in Central and Southern Indiana.
This is the second merger Crane Federal Credit Union has undertaken in 2015. In April, Crane acquired AA Federal Credit Union in Terre Haute, IN. This gave Crane the opportunity to serve members in Terre Haute from an additional branch location to go along with their existing location on Ohio Street.
Crane Federal Credit Union began operating in 1955 serving members from one branch location on NSA (Naval Support Activity) Crane Base. The Credit Union now serves members in numerous Indiana communities with 16 branch locations.