Letter from the CEO
To all residents of Champaign & Clark County:
My name is Jim Kitchen, and I am the President/CEO of International Harvester Credit Union. Since I was born in Urbana and have spent my whole life in this area, I am proud to say that IH credit union is a local financial organization that provides great rates and excellent customer service. International Harvester Employee Credit Union also has a reputation for being one of the safest credit unions in the country, as is evidenced by our perennial five-star rating.
International Harvester Employee Credit Union has been serving members and the community since 1934. We have two locations in Springfield located at 5000 Urbana Road and 145 West High St. We also have a branch location at 731 Scioto Street in Urbana next to CVS Pharmacy, so that we can better serve our existing members in Champaign County as well as any future members.
Some credit unions require people to work for a certain company before joining, while others serve only those who attend a particular school or church. However, IH Credit Union now serves anyone who lives, works, worships, or attends school in Champaign and Clark Counties as well as the surrounding counties (Madison, Montgomery, Greene, Miami, Logan, and Union). There are no membership fees to become a member. We require a deposit of $5 in a share account (savings account). This remains your money and is returned to you if you ever close your account with the credit union.
But you may ask - "What is a credit union"? Some people don't realize that they are eligible to be a member of a credit union or even understand what a credit union is. Credit unions are not-for-profit cooperative financial institutions that are owned by their members. Credit unions differ from for-profit financial institutions in that credit unions do not have to pay dividends to stock holders. There is no "fee" to become a member.
Credit unions generally offer better rates on loans and savings than for-profit financial institutions, due to credit unions' unique operation. While other financial institutions must make profits for their stockholders, credit unions exist only to serve their members. After expenses and legal reserves are set aside, the profit is returned to the member in the form of higher dividends and other benefits. The Credit Union does not profit... only its members do. As a result, consumers have ranked credit unions as the leaders among financial institutions in customer satisfaction for the last 21 years.
Credit unions offer most financial services found at banks, including loans, savings accounts, checking accounts, IRAs, Internet account access, and more. You may ask "Why not go elsewhere for these services?" IH Credit Union offers several advantages. Because costs are kept low, we can often offer loans at substantially lower rates and higher rates on CDs than other financial institutions. Individuals often feel more confident about asking for a loan at IH Credit Union, because they're owners, not just customers.
International Harvester Employee Credit Union is state chartered and federally insured by the National Credit Union Administration up to $250,000 per account. Additionally, the credit union is privately insured up to an additional $250,000 by American Share Insurance, a private insurance company located in Dublin, Ohio.
On behalf of myself, our board of directors , management & staff, we would like to thank our existing members for their continued support. We extend a warm welcome to our newest members and we welcome potential members. Please feel free to call me directly to discuss the many benefits of being a member of International Harvester Employee Credit Union. I can be reached at 937-390-1800 or 1-800-576-4428 Ext. 138.
Sincerely, James E. Kitchen
President/CEO