Exhibit 99.1



                             UNION COMMUNITY BANCORP
                       221 EAST MAIN STREET - P.O. BOX 151
                          CRAWFORDSVILLE, INDIANA 47933
                                 (765) 362-2400
Press Release                                              FOR IMMEDIATE RELEASE
                                                           ---------------------

                                                     Contact:  Joseph E. Timmons
                                                     Phone Number:  765/362-2400


                             UNION COMMUNITY BANCORP
                       ANNOUNCES STOCK REPURCHASE PROGRAM

          (Crawfordsville,  Indiana - April 29,  2004) Union  Community  Bancorp
(the  "Corporation")  (NASDAQ Symbol "UCBC")  announced  today that the Board of
Directors has approved the repurchase,  from time to time, on the open market of
up to 9.5% of the Corporation's  outstanding shares of common stock, without par
value  ("Common  Stock"),  or 200,000 such shares.  Such  purchases will be made
subject to market conditions in open market or block  transactions.  Repurchases
may begin as early as May 3, 2004, since the required  regulatory  clearance has
been received.

          According  to Joseph E.  Timmons,  President of the  Corporation,  the
Board believes that the  Corporation's  shares are currently  undervalued by the
market  and that  open  market  purchases  will  have the  potential  effect  of
enhancing  the book value per share and the potential for growth in earnings per
share of the Corporation's remaining outstanding shares.

          The foregoing  discussion contains  forward-looking  statements within
the  meaning of the  Private  Securities  Litigation  Reform Act of 1995,  which
involve a number of risks and  uncertainties.  A number of factors  could  cause
results to differ materially from the objectives and estimates expressed in such
forward-looking  statements.  These  factors  include,  but are not  limited to,
anticipated  market prices and prices  actually paid by the  Corporation for its
shares pursuant to the stock repurchase program announced herein.  These factors
should be considered in evaluating  any  forward-looking  statements,  and undue
reliance  should  not be placed on such  statements.  The  Corporation  does not
undertake   and   specifically   disclaims   any   obligation   to  update   any
forward-looking statements to reflect occurrence of anticipated or unanticipated
events or circumstances after the date of such statements.

          Union  Community  Bancorp  (NASDAQ  NMS  Symbol  "UCBC"),  an  Indiana
corporation  is  the  holding   company  for  Union  Federal  Savings  and  Loan
Association, a federal savings association, located in Crawfordsville,  Indiana,
with branches in Crawfordsville, Covington, Williamsport and Lafayette, Indiana.



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