| Winter 2024 Issue: |
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We are offering $15,000 (a $1,500 award to each school) in scholarships to graduating seniors from Bloomington North, Bloomington South, Center Grove, Edgewood, Eastern Greene, Greenwood, Owen Valley, and The Academy of Science & Entrepreneurship.
Two $1,500 scholarships are also available to members who attend a high school other than one of the aforementioned.
High School Scholarship applications are due on March 30, 2024.
We are offering $16,000 in Continuing IU Student Scholarships to members who are current college students planning to attend any Indiana University campus as either full-time or part-time students in the fall of 2024. Full-time scholarships are $2,500 per year, and part-time scholarships are $1,250 per year. Continuing IU Student Scholarship applications are due on February 3, 2024.
We offer a total of $7,000 in scholarships annually for students attending the Bloomington campus of Ivy Tech Community College. Candidates must have applied and been admitted to the college to be eligible for consideration.
All branches will be closed Monday, January 15, in observance of Martin Luther King, Jr. Day.
Online Banking and Mobile Banking are available 24/7. Plus, you have surcharge-free access to your account at thousands of ATMs nationwide in the Alliance One and CO-OP ATM networks.
The IU Credit Union Nominating Committee has selected candidates for four open Board positions and one open Supervisory Committee position to be filled this spring. Nominees for the Board are Neil Powell, Avalyn Quick, Doris Sims and Veda Walcott. The nominee for the Supervisory Committee is Tina Sherrard.
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 9, 2024. 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 27 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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Neil Powell has served on the IU Credit Union Board of Directors since 2021. He is a Lecturer and Strategic Finance Academy Director at Indiana University’s Kelley School of Business. He has more than 25 years of corporate finance experience, having served in a number of roles in the high-tech industry. He previously served as Corporate Controller, VP with Lattice Semiconductor, Director of Finance with Intel Corporation, and Examiner with Federal Deposit Insurance Corporation (FDIC). Powell received his master’s degree from IU’s Kelley School of Business. He also serves on the New Hope for Families Board of Directors. |
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Avalyn Quick is the owner of A Quick Enterprises, LLC, a coaching consulting company specializing in developing plans and processes to help individuals or organizations achieve goals and unlock potential. She has over 30 years of combined corporate, entrepreneurial, and nonprofit board experience spanning multiple industries and functional areas such as people operations, medical sales, accounting, and auditing. Quick started her career at Arthur Andersen and later transitioned to key leadership roles at GlaxoSmithKline, Butler Manufacturing, and The Pillsbury Company. She holds a bachelor's degree in Accounting and Finance from Augsburg College and an Executive Certificate in Leadership Coaching from Georgetown University. Quick is also a member of Indiana University, IU Ventures' inaugural class of the Executive in Residence Program (EIR). |
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Doris Sims has served on the IU Credit Union Board of Directors since 2021 and previously from 2011 – 2020. She is currently the Board Chair. Sims also serves on the Habitat for Humanity of Monroe County Board. Sims is retired from the City of Bloomington where she served as the Director of Housing and Neighborhood Development and Human Resources Director. Prior positions held include Training Coordinator with Ivy Tech Community College and Region 10 Director with the Indiana Department of Commerce. She received both her bachelor’s and master’s degrees from Indiana University’s School of Public and Environmental Affairs. Sims previously held positions on various community boards, including Bloomington Housing Authority, Planned Parenthood of Indiana and Kentucky, Monroe County Sheriff Merit Board and the Monroe County Branch of the NAACP. |
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Veda Walcott has served on the IU Credit Union Board of Directors since 2021. She is the Vice President of Global Regulatory Affairs & Compliance with Catalent Pharma Solutions and is responsible for corporate quality functions, including quality system policy, enterprise information technology, internal audit, supplier quality management and regulatory affairs support for a broad product portfolio across Catalent’s global network. With more than 20 years of experience in the Biopharmaceutical industry, she previously served as Vice President of Quality and Regulatory Affairs for Catalent Indiana, LLC (formerly Cook Pharmica) and Quality Control Microbiology Supervisor for Baxter BioPharma. Walcott started her career as a Medical Technologist for Bloomington Hospital. She holds a bachelor’s degree from Indiana State University in Clinical Laboratory Science, as well as a master's in business administration from Indiana Wesleyan University. |
| Supervisory Committee Nominee | |
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Tina Sherrard has served on the IU Credit Union Supervisory Committee since 2021. Sherrard is the Department Chair of Accounting and an Associate Professor at Ivy Tech Community College Bloomington. She received her bachelor’s degree from Indiana University and her master’s degree from University of Phoenix. Sherrard has worked with various organizations from the private and public sectors in the role of Management and of Director of Business and Financial Services in Retail Management. She also serves as the Site Coordinator for Volunteer Income Tax Assistance (VITA). |
Our Annual Meeting will take place at our Winslow Branch at 105 E Winslow Road on Wednesday, March 27 at 5:30 p.m.
IUCU employees have been on the move lately! There have been multiple changes in branch leadership, the addition of a new role in our Business Services department, and a promotion to VP.
| Recent IUCU Promotions and Transfers | |
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Congratulations to Kurt Jourdan, who was recently promoted to VP, Sales & Service. Jourdan has worked for IUCU since 2008, when he was hired as a teller. In his time at IUCU, he has served in several leadership positions including Branch Supervisor, Assistant Branch Manager, Branch Manager, and most recently, Mortgage Origination Manager. In his new position, Jourdan is replacing 32-year employee, Trish Ierino, who will retire this spring. |
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Connie Percifield recently transferred to the role of Business Deposit Relationship Manager. Percifield began her career with IUCU in 1997 as Teller Manager. She was promoted to Branch Manager less than two years later. She managed the Whitehall Branch on Gates Drive in Bloomington since its opening in 2013. She is the first employee to serve in the new role of Business Deposit Relationship Manager. |
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Congratulations to Lindsay Fowler, who was promoted to 17th Street Branch Manager. Fowler, who most recently served as Assistant Branch Manager at the Whitehall Branch, has served in various roles at IUCU since her hiring in 2007. |
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Colby Babbs, former 17th Street Branch Manager, recently transferred to the same role at the Ellettsville Branch. Babbs has been with IUCU since 2011 and has served in several leadership positions. |
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Mandee Weissert, former Ellettsville Branch Manager, recently transferred to the same role at the Whitehall Branch. Weissert, a 17-year employee, has served in several leadership positions throughout IUCU branches and the Contact Center. |
Tax statements for 2023 will be mailed by the date listed for each form. PLEASE NOTE: If you are enrolled in eStatements, be sure to check your eStatements & Notices tab in Online 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, 2024.
You will only receive a 1099-INT if your total dividends earned in 2023 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, 2024.
If the IU Credit Union pays your real estate taxes, the total amount paid in 2023 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, 2024.
The following IRA forms will be mailed. These will not be available in the eStatements & Notices tab in Online Banking:
• IRA FMV Statement (Fair Market Value)
This is an annual statement showing the December 31, 2023 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, 2024.
• 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, 2024.
Each form sent will show the total distribution amount for 2023 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, 2024.
This form will show the total distribution amount for 2023 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, 2024, due to the later (Apr. 15) contribution deadline.
Form 5498 for Coverdell ESAs will be mailed by April 30, 2024.
Show off your school spirit with an official high school spirit debit card! These FREE cards are available at all Bloomington branches. The best part? Each time a high school card is used, we will make a contribution to the school. The more the cards are used, the greater the total contribution to our local school systems!
The IU Women's Basketball BOGO Coupon period has expired.
Coupons are valid for the following 2023-2024 season dates (Schedule subject to change) ONLY:
| Date | Opponent | Time |
|---|---|---|
| 1/4/24 | Michigan | 7:00 PM |
| 1/10/24 | Penn State | 7:00 PM |
| 1/17/24 | Minnesota | 8:00 PM |
| 1/28/24 | Northwestern | 2:00 PM |
| 2/8/24 | Michigan State | 7:00 PM |
| 2/11/24 | Purdue | 2:00 PM |
| 2/22/24 | Iowa | 8:00 PM |
| 3/3/24 | Maryland | 3:00 PM |
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