Centra Credit Union is headquartered in Columbus and is the 6th largest credit union in the state of Indiana. It is also the 227th largest credit union in the nation. It was established in 1940 and as of June of 2023, it had grown to 387 employees and 157,438 members at 27 locations. Centra Credit Union's money market rates are 10X the national average, and it has an A health rating.
Membership in Centra Credit Union is open to those who live or work in the Indiana counties of Adams, Allen, Bartholomew, Blackford, Boone, Brown, Carroll, Cass, Clark, Clay, Clinton, Crawford, Dearborn, Decatur, Delaware, Fayette, Floyd, Franklin, Grant, Greene, Hamilton, Hancock, Harrison, Hendricks, Henry, Howard, Huntington, Jackson, Jay, Jefferson, Jennings, Johnson, Lawrence, Madison, Miami, Monroe, Montgomery, Morgan, Ohio, Orange, Owen, Parke, Perry, Putnam, Randolph, Ripley, Rush, Scott, Shelby, Sullivan, Switzerland, Tippecanoe, Tipton, Union, Vigo, Wabash, Washington, Wayne, Wells, or White and 8 townships in Marion County, or the Kentucky counties of Bullitt, Henry, Jefferson, Oldham, Shelby, Spencer, or Trimble.
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I have banked with this company for over 10 years now. The Rewards Checking account is misleading because there are stipulations on how the debt card issued for your account can be used to earn points. If you use a pin number, which is automatic for most debt cards, no rewards earned. The transactions must be "signature based" transactions. When you are issued a new card you have to register that card with the rewards account, but it is not tied to your previous card account. I had yet to earn points even after months on this even though I pay $4 per month for the account and switched to a no fees checking. This account seemed to be more of a scam for people who don't want a credit card. The bank at 1 point took money out of my 5 year olds savings account because of her fathers late payment on his loan after we separated. If took a court order to have his name removed from the account because he was still taking her money.
Centra credit union is a great place to do business. They have trustworthy workers, and they work hard to make their clients happy. Their customer service is second to none. Their fees are competitive and they do not gouge you for more money. No complaints here.
I have been a member of Centra Credit Union for over eight years. Overall, this is an average bank. While their customer service at the Edinburgh branch is great, their main branch's service leaves much to be desired. They are also very quick to act if your debit card as been compromised. One of my biggest complaints about this bank is that it's their policy to charge $0.50 to transfer money from savings to checking accounts when the checking account has been overdrawn. When I first opened my accounts, the bank did not charge anything to transfer between connected accounts. Centra also does not have a feature on it's iPhone app to let you know if you've overdrawn your account. I would be much happier with my mobile experience if this feature was added seeing as a $26.00 fee is charged if you overdraw your account.
I feel there are many things this company could work on, especially in the customer service aspect. The people who work there are insensitive to their clients and with my experience, I never ended up having my issue/concern resolved.
Overall | |
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NCUA # | 68287 |
Year Chartered | 1940 |
Employees | 387 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.62% |
Return on Equity - YTD | 5.95% |
Annual Interest Income | $45.4MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q2 2023vs Q2 2022 | $2.09B$2.01B |
Loans | Q2 2023vs Q2 2022 | $1.65B$1.55B |
Deposits | Q2 2023vs Q2 2022 | $1.76B$1.74B |
Equity Capital | Q2 2023vs Q2 2022 | $214.7MM$221.2MM |
Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$9.3MM |
Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $11.3MM$4.4MM |
Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
3.00%* | - | $1k | High Interest Checking | ||
OTHER TIERS: 0.25% → $5k+ | 1.50% → $1k - $5k |