Interra Go to main content
Home > About Interra > History & Mission > History

History of Interra Credit Union

“History"

Interra Credit Union, founded in 1932, is a wonderful result of a difficult time in our history. During the Great Depression, life was hard and better days seemed hopelessly distant. Banks were closed, money was scarce, and those who could borrow money paid outrageous interest rates.

In January 1932, the township Farm Bureau members and Farm Bureau Co-Op employees met at a local Goshen business. Together with Edward Filene, father of American credit unions, they discussed the formation of their own credit union. Seven charter members each pledged five dollars to establish the credit union, but not every member could pay the whole sum at once; some had to pay the balance in installments. Despite this shortage of funds, they were determined to create a financial cooperative that could provide resources to help one another. So on February 23, 1932, the founders applied for their charter under the name Farm Bureau Credit Union with a balance of only $19.50. After decades of growth and strong community involvement, members of the credit union approved a name change to reflect our growing membership. In 2008 we became Interra Credit Union; “Interra” meaning “Indiana land.”

Since its inception, the credit union has grown to serve more members and more communities, spanning across north central Indiana. Though times change, our values have not. The commitment to serve remains the focus of our culture and actions.

Go to main navigation
Voted by the readers, the best of the best, 2018, by the Goshen News. The Elkhart Truth, voted the best of Elkhart County, 2018. Voted the Favorite of Elkhart County by The Elkhart Truth, 2018.

Equal Housing Lender ASI

Your savings insured to $250,000 per account.  By members' choice this institution is not federally insured.