Case Study: Hoosier Hills Credit Union achieves commercial deposit growth with ModernFi extended NCUA insurance

Hoosier Hills Credit Union & ModernFi a Partnership-Driven Launch for Extended Insurance

Hoosier Hills Credit Union, a community-focused financial institution in Indiana, identified a gap in its commercial deposit offerings. While its commercial lending was robust, it needed a solution for members with large balances seeking comprehensive protection beyond standard insurance. The credit union partnered with ModernFi to implement an Extended Insurance Account service to address this challenge and drive deposit growth.

ModernFi's solution provided a deeply integrated and collaborative approach. They embedded the new account directly into Hoosier Hills' Q2 digital banking platform and supported the launch with extensive staff training and marketing. This partnership-driven strategy yielded rapid results, with the first multi-million dollar account being activated within just two months of launch. ModernFi's service successfully helped Hoosier Hills bring deposits back to the credit union and position it for future commercial growth.

Hoosier Hills Credit Union

Cole Watson

Chief Financial Officer