This year, IU Credit Union proudly celebrates 70 years of serving our members and our communities. What began as a small cooperative with a big belief in people helping people has grown into a trusted financial partner for generations of families.
Throughout our 70th anniversary year, we’ll be looking back on meaningful moments from our history, celebrating the relationships that make our credit union special, and sharing our gratitude with special surprises and giveaways along the way. We’re honored to celebrate this milestone with you—and excited for all that’s still ahead.
Keep an eye out as we honor our past, celebrate our present, and share special surprises throughout our 70th anniversary year.
We have a total of $15,000 in scholarships up for grabs for graduating high school seniors! Awards are $1,500 each for one student from each of the following schools:
Not from one of these schools? We’re also offering two additional $1,500 scholarships to students from any other school!
High School Scholarship applications are due on March 28, 2026.
Headed to IU in the fall? Whether you’re going full-time or part-time, IU Credit Union members may be eligible for a scholarship! These awards are for graduate and undergraduate students.
IU Student Scholarship applications are due on February 7, 2026.
If you’re attending Ivy Tech Bloomington, check your MyIvy account for the IU Credit Union Scholarship! We provide a total of $7,000 annually for full- and part-time scholarships.
All branches will be closed Monday, January 19 in observance of Martin Luther King Jr. Day.
The IU Credit Union Nominating Committee has selected candidates for three open Board positions and two open Supervisory Committee positions to be filled this spring. Nominees for the Board are Don Lukes, Shatoyia Moss and Amanda Rutherford. Nominees for the Supervisory Committee are Lori Bhaskar and Majid Darvishan.
IU Credit Union members can file a petition to be included on the election ballot for the Board of Directors or Supervisory Committee. To qualify, request the appropriate petition from any branch, obtain 500 member signatures, and return the petition to any branch by February 6, 2026. If no petitions are received by the due date, the Nominating Committee's candidates will be appointed.
Election results will be announced at the Annual Meeting, to be held at our Winslow Branch at 105 E Winslow Road on Wednesday, March 25 at 5:30 p.m.
Members of the Board of Directors establish the strategic direction of the Credit Union, provide oversight of progress toward the organization's goals, and carry out fiduciary responsibilities customarily performed in accordance with federal and state regulations.
The primary objective of the Supervisory Committee is to determine that members' assets are adequately safeguarded. Members of the Board and Supervisory Committee volunteer their time to the Credit Union.
| Board Nominees | |
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Don Lukes was appointed to the IU Credit Union Board of Directors in 2025 and currently serves as Associate Vice President and University Treasurer at Indiana University, where he oversees capital finance, insurance and loss control, investments, treasury operations, and the University Bursar. Before joining IU, he spent 10 years in the energy and utility industry and previously worked as an auditor for a public accounting firm. Lukes is a Certified Public Accountant. He earned an MBA in finance and strategic management and a BSB in accounting from IU’s Kelley School of Business. |
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Shatoyia Moss has served on the IU Credit Union Board of Directors since 2022 and currently holds the role of Board Secretary. She is the Community & Family Resources Director for the City of Bloomington. Her previous roles include Safe & Civil City Director for the City of Bloomington, Director of Indiana Kids at Indiana University, and Events and Athletic Director at Girls Inc. Moss serves as Vice President of the Board of Directors for New Hope for Families, Membership Chair of the Alumni Board for Leadership Bloomington-Monroe County, and the President of the Bloomington Alumnae Chapter of Delta Sigma Theta, Inc. She holds a BS in general studies with minors in gender studies, human sexuality, and human development and family studies from IU. |
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Amanda Rutherford is an Associate Professor and Chair of the Governance and Management faculty in the O’Neill School of Public and Environmental Affairs at Indiana University Bloomington. She is an expert in personnel management, decision-making, and representation in educational institutions and the U.S. federal government. Prior to joining the O’Neill School, Rutherford served as the Coordinator of Research and Strategic Development for Recruitment Services at the University of Oklahoma. She earned a PhD in political science from Texas A&M University, as well as an MPA, a BBA in marketing and supply chain management and a BA in journalism from the University of Oklahoma. |
| Supervisory Committee Nominees | |
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Lori Bhaskar has served on the IU Credit Union Supervisory Committee since 2023. She is an Associate Professor of Accounting at Indiana University’s Kelley School of Business, where her research focuses on judgment and decision-making in accounting, including audit quality, audit regulation, internal controls, and professional skepticism. Bhaskar previously worked as an Audit Senior Consultant at Deloitte & Touche LLP. She currently teaches Foundations of Auditing and leads the Assurance & Risk Advisory Workshop. She has volunteered with Middle Way House and Habitat for Humanity and currently serves as a Research Director for the Institute for Corporate Governance and Ethics at the Kelley School. She earned a PhD in accounting from the Georgia Institute of Technology, as well as an MPA and a BBA in accounting from the University of Wisconsin–Whitewater. |
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Majid Darvishan is a Clinical Assistant Professor of Finance at Indiana University’s Kelley School of Business, where he specializes in quantitative risk management, banking, corporate finance, and the application of artificial intelligence in finance. Outside the classroom, he serves on the Association for Financial Professionals’ FP&A Advisory Council and co-founded Owlara, a B2B SaaS venture focused on enterprise performance management systems. Darvishan earned his PhD in finance from the University of Pittsburgh, an MS in economics and finance from Southern Illinois University Edwardsville, and an MS in management, as well as an MS and a BS in mechanical engineering from Sharif University of Technology. |
Our Annual Meeting will take place at our Winslow Branch at 105 E Winslow Road on Wednesday, March 25 at 5:30 p.m.
Tax statements for 2025 will be mailed by the date listed for each form. PLEASE NOTE: If you are enrolled in eStatements, be sure to check eStatements & Notices in Online or Mobile Banking for the following forms:
• Form 1099-INT (Dividend Income)
In most cases, IU Credit Union will issue 1099-INTs by Social Security number instead of account number. For example, if you have two different account numbers with the same Social Security number, you will only receive one 1099-INT reflecting the total dividends earned for both accounts. This form will be mailed by January 31, 2026.
You will only receive a 1099-INT if your total dividends earned in 2025 are at least $10.00.
• Form 1098 (Mortgage Interest Statement)
You will receive a separate 1098 for each mortgage loan at the IU Credit Union. This form will be mailed by January 31, 2026.
If the IU Credit Union pays your real estate taxes, the total amount paid in 2025 will appear on the 1098.
• Form 1042-S (Foreign Person's U.S. Source Income Subject to Withholding)
This is the form for certain nonresident alien individuals, used to report $10.00 or more in dividend income. The 1042-S form will be mailed by March 15, 2026.
The following IRA forms will be mailed. These will not be available in eStatements & Notices in Online or Mobile Banking:
• IRA FMV Statement (Fair Market Value)
This is an annual statement showing the December 31, 2025 balance of your IRA/ESA account. This information will be sent as a separate form. If you are 73 or older, your RMD (Required Minimum Distribution) will also be listed on this form. This form will be mailed by January 31, 2026.
• Form 1099-R (Distributions from IRAs)
A separate form will be mailed for each IRA plan held at the IU Credit Union. This form will be mailed by January 31, 2026.
Each form sent will show the total distribution amount for 2025 from the IRA, regardless of whether the distribution is taxable.
• Form 1099-Q (Distributions from Coverdell Education Savings Accounts—ESAs)
A separate form will be mailed for each ESA plan held at the IU Credit Union. This form will be mailed by January 31, 2026.
This form will show the total distribution amount for 2025 from the ESA, including rollover and transfer distributions.
• Form 5498 (IRA/ESA Contribution Information)
Form 5498 for Traditional IRAs and Roth IRAs will be mailed by May 31, 2026, due to the later (Apr. 15) contribution deadline.
Form 5498 for Coverdell ESAs will be mailed by April 30, 2026.
The beginning of a new year often brings a moment to pause and take stock, especially when it comes to our finances. If your monthly budget feels tighter than usual or you’re juggling multiple bills with different due dates, you’re not alone. Many households find that balances have a way of creeping up, making it harder to see the path forward.
The good news? There are practical ways to simplify your finances and regain peace of mind.
Managing several credit cards or loans at once can be stressful. Different interest rates, payment dates, and balances can make it feel like you’re constantly playing catch-up. Even when you’re making payments on time, high interest rates can slow your progress and keep balances hanging around longer than expected.
This is often where people start looking for a simpler solution that makes their money work harder for them, not against them.
Debt consolidation allows you to combine multiple balances into a single loan with one monthly payment. Instead of tracking several due dates, you focus on just one. And if that loan comes with a lower interest rate, more of your payment can go toward reducing what you owe rather than paying interest.
For many members, this convenient approach can also provide clarity. Knowing exactly what you owe and when you’ll be finished paying it off can be incredibly empowering.
Consolidating debt isn’t only about math. It’s about reducing stress, improving cash flow, and creating a plan that fits comfortably into your life. A predictable monthly payment can make budgeting easier and help you feel more confident about your financial future.
At IU Credit Union, we believe financial solutions should feel supportive, not overwhelming. That’s why our team takes the time to understand your full picture and help you explore options that make sense for your goals.
If you’ve been thinking about ways to simplify your finances or make your monthly payments more manageable, now is a great time to explore your options.
Call, stop by, or visit iucu.org to talk with an IU Credit Union team member about debt consolidation and see if it’s the right step for you. We’re here to help you start the year feeling confident, supported, and in control.
Every time the Federal Reserve announces it’s cutting interest rates, mortgage lenders across the country prepare for a familiar wave of questions: “Does this mean mortgage rates dropped?”
At IU Credit Union, we love that our members stay informed and want to take advantage of savings opportunities. But the truth is, a Fed rate cut almost never causes mortgage rates to drop overnight. And understanding why can help you make smarter, more confident decisions about your home loan.
When the Fed adjusts interest rates, it’s changing the short-term rate banks use to lend money to each other. The Fed’s rate changes have a strong and immediate influence on credit cards, auto loans and HELOCs, but first mortgage rates follow a very different path.
A Treasury yield is the amount of money the U.S. government promises to pay investors for lending it money.
The 10-year Treasury acts as a benchmark for long-term borrowing. When Treasury yields rise or fall based on market conditions, mortgage rates typically move with them.
That’s why you may see headlines claiming “Fed cuts rates!” while mortgage rates barely budge.
This isn’t bad news — it simply means there’s more to the story, and that’s where we come in.
While Fed rate announcements don’t directly change mortgage rates, they can influence the broader economy — and that creates opportunity.
A Fed cut often signals improving long-term conditions, which can help mortgage rates trend downward over time.
And when rates do move, they tend to move fast. That’s why having a trusted local lender on your side matters.
Even when the Fed’s announcement doesn’t drop mortgage rates immediately, it is a great time to take action:
We’ll see if the current market could benefit you — whether you're refinancing, purchasing, or exploring options.
If Treasury yields drop suddenly, mortgage rates can follow. We help members act fast when the window opens.
Because we’re local and member-owned, we take the time to explain what’s happening in the market — and what it means specifically for you.
Instead of the Fed announcement, keep an eye on:
Don’t have time to keep up with mortgage rates? With Rate Watch, you choose how you’re notified—get regular updates or alerts only when rates hit your target. Sign up in our Mortgage Web Center and feel confident knowing we’ve got your back.
Whether rates rise or fall, we’re here to help you make smart, confident financial decisions.
IU Credit Union is proud to be an Official Partner of IU Athletics, and the exclusive provider of IU Athletics Mastercard debit cards! Get your FREE card at any branch and show your Hoosier pride everywhere you swipe.
IU Credit Union is proud to sponsor the City of Bloomington's 2026 Dr. Martin Luther King Jr. Birthday Celebration event.
Join the City of Bloomington for the 2026 Dr. Martin Luther King Jr. Birthday Celebration event on Monday, January 19, 2026 at the Buskirk Chumley Theater. This year’s theme, Soul, Spirit, and Sacrifice: Honoring the Legacy of Coretta Scott King and the Women Who Faced America to Save U.S., will feature community leaders, a performance by world-renown mezzo-soprano Marietta Simpson, and an inspiring keynote speech from Dr. Traci Parker. This event will also include the presentation of the 2026 Dr. Martin Luther King Jr. Legacy Award, which recognizes individuals, businesses, or organizations whose work reflects the values exemplified by Dr. King.
This free, un-ticketed event will begin at 6:00 PM with doors opening at 5:30 PM.
Visit our booth at the BASCI Home Show, happening in Bloomington February 26 through March 1. Our mortgage experts will be there answering questions and giving out IUCU swag! The event is held at The Warehouse at 1525 S. Rogers St. and features over 100 vendors and family activities.
IU Credit Union is proud to sponsor IU Auditorium's Beetlejuice.
It’s SHOWTIME! Based on Tim Burton’s dearly beloved film, this hilarious musical tells the story of Lydia Deetz, a strange and unusual teenager whose whole life changes when she meets a recently deceased couple and a demon with a thing for stripes. With an irreverent book, an astonishing set, and a score that’s out of this Netherworld, Beetlejuice is “screamingly good fun” (Variety). And under its uproarious surface (six feet under, to be exact), it’s a remarkably touching show about family, love, and making the most of every Day-O!
Don't miss Beetlejuice, coming to the IU Auditorium April 10-12. Recommended for ages 13+. Parental discretion advised.
