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888-564-4328
1115 Sagamore Pkwy S
Lafayette, IN 47905

Industrial Credit Union is headquartered in Lafayette and is the 27th largest credit union in the state of Indiana. It is also the 1,059th largest credit union in the nation. It was established in 1983 and as of March of 2014, it had grown to 105 employees and 32,540 members. Industrial Credit Union's savings rates are 54% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Must be an employee of any of their Premium Partners. Also open to individuals who will make a $5 donation to the Animal Welfare League of Montgomery County or several other foundation. - See Details

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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 Industrial Credit Union had $1.26 million in non-current loans and owned real-estate with $18.26 million in equity and loan loss allowances on hand to cover it. This gives Industrial Credit Union a Texas Ratio of 6.89% 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 Industrial Credit Union experienced no significant changes from 3.92% as of March 31, 2013 to 6.89% as of March 31, 2014, resulting in a negative change of 75.86%. This indicates that the balance sheet and financial strength for Industrial Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Industrial Credit Union has increased its total deposits by $4.9 million, resulting in 3.38% 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 Industrial Credit Union has shown is excellent.

Capitalization

GRADE:
B+

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. Industrial Credit Union has $168.2 million in assets with $18.26 million in equity, resulting in a capitalization level of 10.85%, which is above average.

Institution Statistics

Overall
NCUA #24026
Year Chartered1983
Employees105
Primary Regulator
Assets and Liabilities
Assets$168.20 million
Loans$100.78 million
Deposits$149.97 million
Equity Capital$17.50 million
Loan Loss Allowance$753,000
Unbacked Noncurrent Loans$1.20 million
Real Estate Owned$60,000
Historic Data - March 2013
Assets$162.25 million
Equity Capital$16.41 million
Loan Loss Allowance$985,000
Unbacked Noncurrent Loans$1.20 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.63%
Return on Assets0.58%
Return on Equity5.53%
Interest Income$1.79 million
Rates
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Industrial Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.80%--IRA Savings
0.80%--Roth IRA Savings
0.80%--Coverdell Education Savings Account
0.15%$10k-Funds Manager
0.10%$350-Special Savings
0.10%--Christmas Club Savings
0.10%$350-Regular Share Savings
0.10%--Kids' Club Account

Industrial Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$2,500-Free Share Draft Checking
0.05%$1,500-Regular Share Draft Checking

Industrial Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.30%$500-60 Month CD
1.20%$500-48 Month CD
1.10%$500-36 Month CD
0.70%$500-24 Month CD
0.45%$500-18 Month CD
0.35%$500-12 Month CD
0.20%$500-6 Month CD
Locations


Industrial Credit Union Locations
Branch Office413 Washington StCovington, IN 47932
Branch Office1115 Sagamore Pkwy SLafayette, IN 47905
Branch Office818 W Fisher StMonticello, IN 47960
Branch Office7249 W 200 NDelphi, IN 46923
Branch Office1251 Cumberland AveWest Lafayette, IN 47906
Branch Office730 Twyckenham BlvdLafayette, IN 47909-7122
Branch Office1871 S US Highway 231Crawfordsville, IN 47933
Branch Office431 Meijer DrLafayette, IN 47905
Branch Office1855 W State Road 28Frankfort, IN 46041
Branch Office3900 St Francis Way Ste 105Lafayette, IN 47905