A federally chartered credit union in Indiana provides banking services such as loans to its membership. Members in a federal credit unions in Indiana must meet a set of well-defined criteria such as membership in a non-profit group or residency within a geographical area.

Federally chartered credit unions in Indiana also may serve specific employee groups, known as Select Employee Groups, such as teachers or employees of a specific company. Indiana federally chartered credit unions may be able to switch to a community charter, which allows them to serve anyone who lives, works, worships or attends school within a defined area.

IN federal credit unions appear to be similar to banks, but their tax exempt status mandates three important differences:

1. Members of a federal credit union in Indiana must own the credit union and run it as a non-profit, financial cooperative.

2. A credit union’s board of directors must be unpaid volunteers that members elect.

3. IN credit unions have a social mission that includes service to members of modest means. A credit union has restrictions on the services and products that it provides and must place restrictions on its membership.

Action Steps
The best contacts and resources to help you get it done

Locate specific Indiana federal credit unions by name

You can easily locate government credit unions in Indiana if you have some basic information about it such as its name or the location of one of its branches. A credit union's name will normally give you an idea of the basis of its membership, although the requirements for membership are frequently broader than this.

I recommend: Cudata.com shows credit unions in Indiana by name, along with the city, assets and number of members. Click on any credit union name to get contact information. Credit Unions Online displays the credit unions in its network that are located in Indiana alphabetically by name.

Find federal credit unions in Indiana by location

Resources are available to locate all of the federally chartered credit unions in Indiana based in your area, which you may wish to do because residency is a common membership requirement for many credit unions.

I recommend: CU Village.com allows you to find credit unions within your zip code. If none are found, this locator will return the credit unions that are closest to you. USA Credit Unions lists all of its credit unions in Indiana on a single page and also has a credit union locator by name and zip code.

Select a local government credit unions in Indiana to join

Examine the membership requirements of a particular federally chartered credit union and the services that it provides to know if you are eligible to join and if it will provide the services you need.

I recommend: MidWest America Federal Credit Union accepts employees from designated businesses, in addition to residents of Allen County and Fort Wayne, Indiana. Membership in the Indiana Members Credit Union is an employee benefit many businesses in Indianapolis offer its workers.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Indiana federally chartered credit unions frequently allow a broader membership base than their names imply. Smaller credit unions may merge into a single credit union with a disparate set of membership qualifications. Additionally, an individual may usually remain a member of a credit union even after they no longer meet the membership requirements, as when a member moves or changes jobs.