A mutual Letter of Intent has been executed between Greater Iowa and the Summercrest Hills Development Corporation to finalize the purchase of land southwest of the Mercy Indianola Family Medicine campus and adjacent to Highway 65-69. The credit union is also finalizing approval from the Iowa Credit Union Division and undergoing environmental studies.
According to Scott Zahnle, president and CEO of Greater Iowa, the credit union has plans to break ground this spring for a planned 2000-3000 square-foot retail branch. It would be Indianola’s first credit union. “Indianola is a growing and vibrant community,” Zahnle said, “and our research has shown that a credit union and its financial cooperative model and member-centric products and services would be a welcome addition to town and the surrounding communities.
“We plan to participate actively in Indianola and contribute where we can to the community’s quality of life. We believe strongly in the power of philanthropy and of giving back.”
With Greater Iowa’s community charter, anyone who lives, works, worships or goes to school in Indianola—and Warren and surrounding counties—can become a member with a $5 membership share.
Greater Iowa Credit Union was founded in 1932 on the campus of Iowa State University and was formerly the ISU Community Credit Union. Currently, it has six branches throughout central and western Iowa, assets of $314 million and 29,000 members. It is considered one of the largest credit unions in the state.