2.5 star ratingAverage User Rating:
2.5 star rating based on 3 reviews.

Indiana Members Credit Union

Indiana Members Credit Union Locations
5103 Madison Ave.
Indianapolis, IN 46227
(317) 788-0366
www.imcu.org

NCUA

Indiana Members Credit Union is headquartered in Indianapolis and is the 2nd largest credit union in the state of Indiana. It is also the 131st largest credit union in the nation. It was established in 1956 and as of December of 2012, it had grown to 240 employees and 109,584 members. Indiana Members Credit Union's savings rates are 3X the national average, and it boasts a 5-star health rating.

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Indiana Members Credit Union is offering a special 6.00% APY 5-year certificate. The minimum deposit is $1,000. This is also available as an IRA certificate.Field of membership includes those who live or work in the following Indiana counties: Boone...



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See Rates for: Checking | Savings | Money Market | CD | IRA

Indiana Members Credit Union Checking Account Rates

ApyMinMaxProduct
0.05%$1k-Preferred Checking Account

Indiana Members Credit Union Savings Account Rates

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1.50%--Health Savings Account
0.20%--IRA Savings
0.20%--Roth IRA Savings
0.20%--Coverdell Education Savings Account
0.10%$50-Savings Account
0.10%--Christmas Club Account

Indiana Members Credit Union Money Market Rates

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0.20%$20k-Money Market

Indiana Members Credit Union CD Rates

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2.00%$1k-84 Month CD
1.40%$1k-60 Month CD
1.00%$1k-48 Month CD
0.70%$1k-36 Month CD
0.45%$1k-24 Month CD
0.25%$1k-12 Month CD
0.15%$1k-6 Month CD

Indiana Members Credit Union IRA Rates

ApyMinMaxProduct
2.00%$1k-84 Month CESA
2.00%$1k-84 Month IRA
2.00%$1k-84 Month Roth IRA
1.40%$1k-60 Month IRA
1.40%$1k-60 Month Roth IRA
1.40%$1k-60 Month CESA
1.00%$1k-48 Month IRA
1.00%$1k-48 Month Roth IRA
1.00%$1k-48 Month CESA
0.70%$1k-36 Month IRA
0.70%$1k-36 Month Roth IRA
0.70%$1k-36 Month CESA
0.45%$1k-24 Month IRA
0.45%$1k-24 Month Roth IRA
0.45%$1k-24 Month CESA
0.25%$1k-12 Month IRA
0.25%$1k-12 Month Roth IRA
0.25%$1k-12 Month CESA
0.15%$1k-6 Month IRA
0.15%$1k-6 Month Roth IRA
0.15%$1k-6 Month CESA

Rates updated: 5/18/2013

Data for Q4 2012


Institution Statistics


INDIANA MEMBERS
NCUA #68259
BankRate ReportView
Year Chartered1956
Employees240
Primary Regulator

Assets and Liabilities

Assets$1.35 billion
Loans$629.20 million
Deposits$1.18 billion
Equity Capital$146.36 million
Loan Loss Allowance$3.52 million
Unbacked Noncurrent Loans$344,000

Historic Data - December 2011

Assets$1.33 billion
Equity Capital$139.24 million
Loan Loss Allowance$4.10 million
Unbacked Noncurrent Loans$1.15 million
Real Estate Owned$144,000

Profit Margin - Quarterly

Net Interest Margin3.53%
Return on Assets0.53%
Return on Equity4.86%
Interest Income$31.01 million
Non-Interest Income$22.38 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 Indiana Members Credit Union had $344,000 in non-current loans and owned real-estate with $149.87 million in equity and loan loss allowances on hand to cover it. This gives Indiana Members Credit Union a Texas Ratio of 0.23% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Indiana Members Credit Union decreased significantly from 0.90% as of December 31, 2011 to 0.23% as of December 31, 2012, resulting in a positive change of 74.61%.This indicates that the balance sheet and financial strength for Indiana Members Credit Union has improved significantly in recent periods.
Deposit Growth4
In the past year, Indiana Members Credit Union has increased its total deposits by $13.91 million, resulting in 1.19% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Indiana Members Credit Union has shown is above average.
Capitalization4
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Indiana Members Credit Union has $1.35 billion in assets with $149.87 million in equity, resulting in a capitalization level of 11.09%, which is above average.
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Bad Loan Option
1 stars - LeavingIMCU - Wednesday, August 10, 2011 - 1:13 AM

I think this site pretty much says it all:

www.indianamemberscreditunionsucks.com

Too many options, go someplace (anyplace) else.

5

Horrible Service
1 stars - concerned - Friday, April 1, 2011 - 5:40 PM

I know a person who took out a $1,000 loan and used his truck as collateral. He was $48 past due and the repo'd his truck, demanded the bal of $958 immediately, charged $300 repo fee, $50 key fee and $150 retrieval fee for the repo company.  Although they were "legally" within their rights, this was morally wrong. The person rec'd a late fee notice dated 3-25 with no mention on repo and the car was taken on 3-30.  I am taking every opportunity to let people know how they treat their customers.  So far I've told people in the Beauty Salon, the grocery store, the dr's office and anybody else who would listen. Their goal is to make money off the repo's. If the loan and gone to term they would have only made $69 in interest.  With the economy being what it is, this is just another way for them to make more money!!!!!

5

Member For Over 30 Years
5 stars - nobigbucks - Friday, September 7, 2012 - 4:15 PM

Yep, that's right, a member for over 30 years.  That should tell you that I'm very much satisfied with the service I've received as well as how I'm treated with the many loans I've gotten through IMCU.  What the other review about the repo'd truck doesn't say is how late the person was in repaying the loan.  I find it very difficult to believe they took his truck for 48 bucks.  Come on, really???  NO bank wants your truck or car or house for that matter.  I would recommend to ANYONE to join IMCU over a traditional bank.  Far and away a better choice. 

3
 
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