Financial Center and Horizon One Credit Unions Announce Merger
Finance Center Federal Credit Union and Horizon One Federal Credit Union announced today that the two organizations will be joining together as of April 1, 2013.
Earlier this week a majority of Horizon One's membership who voted agreed to the merger. Under the arrangement, Financial Center will absorb Horizon One into its organization.
"This merger allows Financial Center to become even stronger, with combined assets of nearly $500 million and more than 57,000 members," said Kevin Ryan, President and CEO of Financial Center.
While Financial Center was founded 60 years ago for military personnel at Ft. Benjamin Harrison, Horizon One has its roots in automotive industry manufacturing. Horizon One was founded in 1949; its main branch is on Drover Street in the southwest section of downtown Indianapolis. It built a second location in Johnson County in Greenwood in 2008.
"Expanding into the counties surrounding Marion County has been a goal of ours since last year. We're looking forward to offering Financial Center's extensive business and consumer financial products lineup to the Greenwood market," Ryan said.
Horizon One President and CEO Ann Garmon will retire in April. All fifteen Horizon One employees are being offered positions with the new organization.