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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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Data for Q1 2014

Institution Health


Texas Ratio


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


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


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.



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

NCUA #24026
Year Chartered1983
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
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Industrial Credit Union Savings Account Rates

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

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

Industrial Credit Union CD Rates

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

Industrial Credit Union Locations
Branch Office413 Washington StCovington, IN 47932
Branch Office1115 Sagamore Pkwy SLafayette, IN 47905
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