Chiphone Federal Credit Union was founded in December 1946 to meet the financial needs of the employees of Chicago Telephone Supply Company located in Elkhart, Indiana. Within the next three decades, the credit union grew to 4,500 members and 11 million in assets. This continual growth prompted the move to its current location at 1655 W. Beardsley Avenue.
During this time, Chiphone FCU began to merge several smaller credit unions and grew to over 16,000 members and 50 million in assets. Chiphone FCU opened its first branch operation in 1985 in Nappanee, Indiana. In an attempt to satisfy the financial needs of its growing membership, Chiphone FCU opened its second branch in Middlebury, Indiana. In 1995, Chiphone FCU joined the Credit Union Centers of North Central Indiana, Inc. The creation of these Service Centers provided two more locations for our members’ convenience.
Our first Elkhart North, partnership branch was open in February, 2004 with Michiana FCU a Division of Bayer Federal Credit Union, now Inova. Our second partnership branch on CR 17 opened July 10th, 2006. Also in 2006, Chiphone became a Credit Union Outlet. Allowing members from many different credit unions the ability to do their transactions at Chiphone.
Chiphone was proud to announce the merger of another credit union in November, 2010. Chiphone’s newest location in Merrillville is serving Lake County and the surrounding communities. Chiphone welcomed another merger in December, 2010. Elcome FCU joined Chiphone. In 2022, Chiphone FCU celebrated 75 years of service. With assets surpassing 110 million, Chiphone constantly strives to improve the member experience by keeping each member at the forefront of every decision.
“Connecting with our members to provide quality financial services.”