Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
888-855-6928
105 E Winslow Rd
Bloomington, IN 47401

Indiana University Credit Union is headquartered in Bloomington and is the 9th largest credit union in the state of Indiana. It is also the 287th largest credit union in the nation. It was established in 1956 and as of March of 2014, it had grown to 192 employees and 61,600 members. Indiana University Credit Union has a A+ health rating.

Field of Membership Restrictions

Any persons who reside, work, or have immediate family that lives in one of 51 Indiana counties. Any persons who are current dues-paying members of the Indiana University Alumni Association. - See Details

Reviews (2)

Perfect for me!

I just needed a local place to cash checks and was recommended IU Credit Union from a family member. Friendly, communicative, and I am so glad that I switched to them. They have gone to a new online banking system that actually informs you of transactions before they are actually processed.

So-So Offerings, Clueless Employees

As a student, I banked with them for about 2 years. They have several ATMs around Bloomington, one in the union, one in the library for example. They give free checks.

But the employees always seemed a bit off. For example, they refused to raise my credit card limit from 2k to 3k citing my "lack of income" (apparently they only would consider my stipend, and ignored the fact I earn 20k each summer doing internship). Capitol One gave me a card with a 10k limit - much more than the 3k I asked for, with the same information. Since I must often purchase plane tickets and then submit the receipt for reimbursement, it is nice to have a credit card limit that can carry all charges from a business trip.

IUCU also shut down my Visa credit card while I was travelling in Spain. My backup card was a Discover (not accepted in most European businesses). They were completely unapolegetic when I had to call them (at international rates) to gain access to my funds.

When I planned to spend a summer in the SF Bay Area, I called IUCU to inquire about their "shared branching" service. They assured me I could perform all the functions I perform at IUCU (such as cashing checks) at affiliated CUs in the Bay. After I received my first paycheck, I went to deposit it... I had to pay off Visa charges from my gas and meals driving to California, as well as get access to money for rent. Unfortunately, IUCU would not allow shared branching because they had been unable to deliver mail to me. (I had filed a  temporary change of address with the post office - but to no avail, the bank would not honor it). In addition to not being able to cash my rent check, I was charged a "bad address" fee (which, in their defense, they waived after I called to complain)

There also have been other minor issues... for example, they upgraded their online banking, breaking Mint compatibility. The new UI was powered by Intuit (Mint's parent company) and contained similar functionality, but I lost several months of historical data from the switch.

In short, the only real benefit IUCU provides is ample atm access, even this is true only in Bloomington, and you can get a Charles Schwab account and not be subject to ATM fees anyways. IUCU's basic saving accounts gives less interest than a Charles Schwab checking account.



Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Indiana University Credit Union had $5.81 million in non-current loans and owned real-estate with $97.14 million in equity and loan loss allowances on hand to cover it. This gives Indiana University Credit Union a Texas Ratio of 5.99% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Indiana University Credit Union experienced no significant changes from 6.09% as of March 31, 2013 to 5.99% as of March 31, 2014, resulting in a positive change of 1.68%.This indicates that the balance sheet and financial strength for Indiana University Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Indiana University Credit Union has increased its total deposits by $28.65 million, resulting in 4.31% 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 University Credit Union has shown is excellent.

Capitalization

GRADE:
A+

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 University Credit Union has $797.22 million in assets with $97.14 million in equity, resulting in a capitalization level of 12.18%, which is excellent.

Institution Statistics

Overall
NCUA #68577
Year Chartered1956
Employees192
Primary Regulator
Assets and Liabilities
Assets$797.22 million
Loans$474.74 million
Deposits$693.40 million
Equity Capital$95.39 million
Loan Loss Allowance$1.75 million
Unbacked Noncurrent Loans$5.69 million
Real Estate Owned$126,000
Historic Data - March 2013
Assets$768.55 million
Equity Capital$92.08 million
Loan Loss Allowance$1.78 million
Unbacked Noncurrent Loans$5.69 million
Real Estate Owned$384,000
Profit Margin - Quarterly
Net Interest Margin0.94%
Return on Assets0.84%
Return on Equity7.05%
Interest Income$5.39 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Indiana University Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Indiana University Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%--IRA Savings
0.20%--Coverdell ESA
0.10%--Regular Savings
0.10%--Membership Savings

Indiana University Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$50k-Money Market Savings
0.05%--Money Market Checking

Indiana University Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$50k-Platinum Checking

Indiana University Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.50%$500-3 Year CD
0.50%$500-4 Year CD
0.50%$500-5 Year CD
0.50%$500-6 Year CD
0.45%$500-30 Month CD
0.40%$500-2 Year CD
0.35%$500-18 Month CD
0.30%$500-1 Year CD
0.15%$2k-6 Month CD

Indiana University Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.50%$500-3 Year IRA Certificate
0.50%$500-4 Year IRA Certificate
0.50%$500-5 Year IRA Certificate
0.50%$500-6 Year IRA Certificate
0.45%$500-30 Month IRA Certificate
0.40%$500-2 Year IRA Certificate
0.35%$500-18 Month IRA Certificate
0.30%$500-1 Year IRA Certificate
0.15%$2k-6 Month IRA Certificate
Locations

Indiana University Credit Union has 12 locations. Click to view all Indiana University Credit Union locations.