Interra Makes the Forbes 2019 Best Credit Unions List
June 28, 2019 - In the Forbes annual Best-In-State Banks and Credit Unions rankings, Interra Credit Union, headquartered in Goshen, was one of just five credit unions in Indiana to achieve the status in 2019, it was announced this week in a Forbes article. And, of the more than 5,000 credit unions in the country, only 182 made the list nationally.
The market research firm, Statista, partnered with Forbes to survey more than 25,000 people in the United States about their banking relationships, the article said. The banks and credit unions were rated on overall recommendations and satisfaction, from 20 questions consumers were asked about their financial experiences. In addition, five subdimensions were included – trust, terms and conditions, branch services, digital services and financial advance.
“We are once again humbled by the trust and confidence our members place in Interra,” Amy Sink, CEO, said. “The Board of Directors, management and staff focus on their needs, now and in the future, and work hard every day on members’ behalf.”
There were 182 credit unions and 149 banks to make the Forbes list. Combined, they represented just 3.1% of the total number of the more than 10,000 U.S. financial institutions.
Americans generally gave their banking institutions good reviews on satisfaction, the Forbes report said. “But banks can’t touch credit unions,” the writer noted. “There are more than 5,000 credit unions with 117 million members across the U.S. Members-only credit unions typically have lower fees and offer better interest rates than traditional banks, and the nonprofit model where the members are the owners puts the customer first, resulting in higher levels of satisfaction.”
“While Interra has enjoyed unprecedented growth in recent years, it remains truly a local, member-owned financial institution, committed to serve the people who live and work here,” Sink pointed out. “We are part of the fabric of our communities and are invested in them through the services we provide, volunteerism and financial support.”
Interra, headquartered in Goshen, Indiana, has assets of $1.2 billion. The credit union’s field of membership spans 18 counties in northern Indiana, serving nearly 82,000 members. Interra operates 15 offices in Elkhart, Kosciusko, LaGrange, Marshall and Noble counties in Indiana and via a suite of robust electronic services at interracu.com.