November 2024: A letter from the President

Dear Members,

Each year as we get closer to the holidays, I look forward to one of my favorite Centra Foundation initiatives: the Holiday Giving Program. I’m always so inspired by our Members, Team Members, and those in our Communities coming together to ensure children in need can have a happier holiday. We’ll begin collecting donations on November 25, and you can learn more on our website.

Recently, Centra has had a lot to celebrate. If you follow us on Facebook, you’ve likely seen that Team Members Sehrish, Kassi, and Cristina were honored with a few prestigious awards. Today, I’m happy to share that Centra SVP Finance Carl Fry was recognized as an emerging leader by the Indiana Credit Union League, a distinction given to only three credit union leaders across the state of Indiana each year. Carl’s talent has been a tremendous asset to our Credit Union, and this recognition is well-deserved.

Last month, the Credit Union as a whole celebrated earning the Juntos Avanzamos (Together We Advance) designation from Inclusiv. This designation is just one stepping stone in our efforts to continue expanding our reach to Spanish-speaking and immigrant consumers to support them on their path to financial wellness and empowerment. Centra is only the 4^th credit union in Indiana to receive this prestigious honor for our commitment to serving our Spanish-speaking Members.

While these accomplishments are exciting, I’m even more motivated by all the possibilities for our Credit Union’s future. Our leadership team is in the midst of developing Centra’s next strategic plan: Imagine the Possibilities. This new plan is centered around five efforts:

• Ensuring Centra’s continued financial strength.
• Enhancing our Team Member development.
• Telling Centra’s story of impact with our Members and Communities.
• Advancing new ways to support our Members through every financial stage of life.
• Enhancing Centra’s digital resources.

I look forward to sharing more information as the Imagine the Possibilities strategic plan is finalized, defined, and executed.

Lastly, I wanted to take a moment to discuss the current rate environment. In September, the Federal Reserve cut interest rates for the first time since the early days of the COVID-19 pandemic. When interest rates change, it’s important to be mindful of their impact on your cash flow. If you have variable rate loan products, such as lines of credit and credit cards, the lower rates can reduce your payments, freeing up some cash. This means it’s a great time to review your spending and savings needs and readjust your plan or budget accordingly. As you review your finances, Centra and Centra Financial Services are here to help. You can make an appointment to visit your preferred Centra location here.

Sincerely,
Rick A. Silvers
President and CEO