Bruce Ingraham to Retire as President
Beacon Credit Union President Bruce Ingraham has announced that he will retire effective August 1, 2012. First hired in 1980 by what was then known as Wabash County Farm Bureau Credit Union as the Assistant Manager, Ingraham was promoted to Manager replacing the retiring Ovid McKinley the following year. With $38 million in total assets and serving only Wabash County, Bruce and seven employees worked out of the office on Miami Street in Wabash, Indiana and began a journey that today results in a credit union that serves over 45,000 memberowners, with over $750 million dollars on deposit, over $625 million in member loans, and $900 million dollars in total assets.
During Ingraham’s 32 years of leadership, he has overseen sweeping changes. The first in house computer system was installed in 1982, new products such as CD’S and checking accounts were added, 9 smaller credit unions merged into the institution, and the credit union changed its name to Beacon Credit Union in 2001 are a few.
Unprecedented growth has also been evident under his leadership. Today Beacon serves member-owners in 18 counties with 20 branch offices, a Commercial Loan Office, Administration Building, and a Computer Data Center. As the leading Agricultural Lending Credit Union in the nation, the original mission of serving farming families remains its foundation by currently supplying over $400 million in agricultural related loans.
Staying true to the credit unions mission of “providing fair and competitive financial products and services responsive to the needs of its members” has been Ingraham’s philosophy throughout his career. The focus on this mission is what he partly attributes to the credit union celebrating it’s 80th anniversary. He also credits the Board of Directors, saying: “I’ve been fortunate in having an excellent relationship and support from all of our Board members over the years.” Ingraham also cites “a very professional and forward thinking senior management team” as a contributing factor to his success.
Bruce’s success and hard work has been acknowledged and awarded both locally and statewide. In 1988 then Indiana Governor Orr awarded him the Sagamore of Wabash. Ingraham was cited with a Professional Achievement Award from the Credit Union League in 2007 and was inducted into its Hall of Fame in 2008. Most recently, he received the Distinguished Citizen Award 2009 from the Wabash County Chamber of Commerce. It is this local connection that is the most meaningful. “I have made many friendships and Wabash has been a wonderful place to live and work,” Ingraham shared. Through his work and service to the Honeywell Foundation, White’s Residential and Family Services, Wabash County Fair Board, and Wabash Friends Church, Bruce feels the credit union’s creed of “people helping people” became important in both his professional and personal life. The opportunity to represent Beacon in these organizations has been both rewarding and personally fulfilling. Bruce and wife Bonnie plan to relocate to Knoxville, Tennessee upon his retirement.
Although he is looking forward to this change in life, he says’ “Time has flown and it is hard to absorb the fact that I will be retired in less than one year.”