Carol Johnson, Southern Indiana Business Report
BEDFORD – Hoosier Hills Credit Union was recently recognized as one of the best credit unions in Indiana by Forbes.
HHCU was one of three credit unions in Indiana that made the rankings and one of 147 unique credit unions across the country.
“We’re extremely honored and proud to receive the recognition from Forbes and we’re proud of the membership that recognizes the services we offer and the passion we have for serving them,” said Travis Markley, CEO of Hoosier Hills Credit Union.
Markley gave credit to the HHCU staff for providing excellent service to members and caring about their financial wellness.
“Our staff is relentless, passionate and knowledgeable,” Markley said. “They demonstrate passion for our members and communities day in and day out.”
A credit union is a non profit financial cooperative owned and controlled by its members.
Providing excellent service to members, said Markley, “is in our heritage and in our DNA.”
“We can’t ever forget the members are our owners,” he said.
The idea to form the credit union began in a break room at the Bedford General Motors plant in 1968. From those origins as the Bedford Independent Federal Credit Union, a single institution, to HHCU, which employs 208 people and has branches in nine counties serving members in 40 counties in southern Indiana and northern Kentucky.
Today, Hoosier Hills Credit Union has grown to more than $880 million in assets, serving more than 36,000 members.
“So many times, people equate growth with an inability to provide service and we don’t believe that’s true,” Markley said. “The fact of the matter is we grow because there are people who need our services.”
Whether members are trying to pay off debt, need financial counseling or have been subject to predatory lending, Markley said they can receive financial coaching to improve their financial wellness.
“Our growth is by virtue of providing that service,” Markley said. “Growth comes naturally when you do it the right way.”
Rankings criteria
Credit unions are becoming a popular choice. According to the National Credit Union Administration (NCUA), the credit union system’s net worth increased in 2022 by more than $21 billion (or about 10%) to about $233 billion.
To create the list, Forbes partnered with market research firm Statista and surveyed about 31,000 U.S. residents. Participants were asked to name all the banks and credit unions where they have a checking or savings account and evaluate these institutions based on criteria such as customer service, the quality of the financial advice representatives offer, whether fees are transparent and reasonable, ease of navigating the company website, on-location branch services and the overall level of trust the companies inspired.
The Forbes rankings, which also included a separate category for banks, were based 80% on member surveys and 20% online reviews.
Serving communities
Community involvement wasn’t a factor in the rankings, but Markley said HHCU’s commitment to each community where it’s located is another reason members feel connected.
For the past several years, HHCU has pledged 1% of its income and 1% of employee time to volunteer into communities.
“Our employees have embraced it,” he said. “Even though it wasn’t part of this recognition, it’s important to us because at the end of the day, we’re all working to provide a better future for our children and grandchildren.”
Building trust in the HHCU membership is another core value, Markley said.
“We never provide a product or service that isn’t in the best interest of our members. We have countless stories of people that we’ve saved hundreds of dollars on loan payments or they’ve made more money on investments,” he said.