CREDIT UNION TIMES Vol. 10, No. 48 December 1, 1999

Looking back four years ago finds a pending “mega merger” of Mid-States Corporate FCU and Indiana Corporate FCU (INDICORP). “If this was your typical merger that we’ve seen in the past from corporates or even natural credit unions, this would be simple. Usually the larger of more tech savvy one would say `hey let’s do it my way’. But since there are so many strengths we both kind of have to reinvent ourselves,” said INDICORP President/CEO Steve Tolen of merging the computer systems. Both corporates say one reason for the merger was increased yields for their member credit unions. Also in that issue, the Latino Community Development Credit Union Network, a program of the National Federation of CDCUs organized the first Latino Credit Union Conference. Chase Manhattan Bank, Fannie Mae and the California and Texas Credit Union Leagues teamed up to sponsor the event. NCUA Board Member Yolanda Wheat encouraged credit unions to extend membership to the growing Hispanic population during a keynote address. “The greatest challenge and opportunity for credit unions will be to help this fastest growing segment of the population build assets and become financially independent,” said Wheat.