INOVA Federal Credit Union

INOVA Federal Credit Union Locations
358 S Elkhart Ave
Elkhart, IN 46516
574-294-6553
www.inovafcu.org

NCUA

INOVA Federal Credit Union is headquartered in ELKHART and is the 22nd largest credit union in the state of Indiana. It is also the 732nd largest credit union in the nation. It was established in 1942 and as of December of 2012, it had grown to 95 employees and 26,662 members. INOVA Federal Credit Union has a 4-star health rating.

INOVA Federal Credit Union Routing Number: 271290681

Related Posts

Review Of Joining INOVA FCU And Transferring An IRA To INOVA (Forum) - 4/2/2012

Kevin On Investing has a useful review of his experience joining INOVA Federal Credit Union and transferring his IRAs into INOVA to take advantage of its 6-year IRA CD. Unfortunately, that 6-year CD rate has fallen, but it's still a good deal.

INOVA Cds Not Listed On CD Rates Pages; Rate Has Dropped, But Still Competitive (Forum) - 3/30/2012

Why are the INOVA 6-years CDs no longer listed on the CD Rates pages? Rates have dropped from 2.50% to 2.10%, but this is still among the top rates. As far as I know, they still are nationally available.

Updated Comparison of Top Long-Term CD Rates After Early Withdrawal Penalties - 3/22/2012

With some recent rate cuts, I thought this would be a good time for another comparison of some top nationally available long-term CDs. Unfortunately, Discover Bank just reduced its 10-year CD yield fr ...

Comparing Top Long-Term CD Rates After Early Withdrawal Penalties - 2/27/2012

I thought this would be a good time for another comparison of some top nationally available long-term CDs. The comparison of the rates takes into account the early withdrawal penalties. This allows yo ...

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

INOVA Federal Credit Union Checking Account Rates

ApyMinMaxProduct
2.00%-$20kOvation Checking
0.35%$100k-Business Ovation Checking

INOVA Federal Credit Union Savings Account Rates

ApyMinMaxProduct
0.01%--Membership Savings
0.01%--Special Savings
0.01%--Club G Savings
0.01%--Christmas Club
0.01%--Health Savings Account
0.01%--IRA Savings
0.01%--GenerationZ Special Savings
0.01%--Roth IRA Savings
0.01%--Coverdell ESA

INOVA Federal Credit Union Money Market Rates

ApyMinMaxProduct
0.50%$100k-Live Wire Money Market
0.45%$500k-Diamond Money Market
0.40%$100k-Platinum Money Market
0.35%$100k-Financial Management Account
0.35%$100k-IRA Financial Management Account
0.35%$100k-Roth IRA Financial Management Account
0.35%$100k-CESA Financial Management Account
0.30%$50k-Gold Money Market
0.10%$25k-Silver Money Market
0.05%--IRA Money Market Savings
0.05%--Roth IRA Money Market Savings
0.05%--CESA Money Market Savings
0.01%$10k-Money Market Savings

INOVA Federal Credit Union CD Rates

ApyMinMaxProduct
1.15%$200-6 Year CD
1.05%$200-5 Year CD
1.05%$200-6 Year Step-Up CD
0.95%$200-5 Year Step-Up CD
0.80%$200-4 Year CD
0.75%$200-30 Month CD
0.70%$200-4 Year Step-Up CD
0.65%$200-30 Month Step-Up CD
0.60%$200-3 Year CD
0.50%$200-3 Year Step-Up CD
0.40%$200-5 Month CD
0.30%$200-5 Month Step-Up CD
0.20%$200-2 Year CD
0.20%$200-2 Year Step-Up CD
0.15%$200-14 Month CD
0.15%$200-18 Month CD
0.15%$200-14 Month Step-Up CD
0.15%$200-18 Month Step-Up CD
0.10%$200-7 Month Step-Up CD
0.10%$200-1 Year CD
0.10%$200-7 Month CD
0.10%$200-1 Year Step-Up CD
0.05%$200-6 Month CD
0.05%$200-6 Month Step-Up CD
0.01%$200-91 Day CD
0.01%$200-91 Day Step-Up CD
0.01%$200-30 Day CD

INOVA Federal Credit Union IRA Rates

ApyMinMaxProduct
1.25%$200-6 Year IRA
1.25%$200-6 Year Roth IRA
1.25%$200-6 Year CESA
1.15%$200-5 Year IRA
1.15%$200-5 Year Roth IRA
1.15%$200-5 Year CESA
1.15%$200-6 Year Step-Up CESA
1.15%$200-6 Year Step-Up IRA
1.15%$200-6 Year Step-Up Roth IRA
1.05%$200-5 Year Step-Up CESA
1.05%$200-5 Year Step-Up IRA
1.05%$200-5 Year Step-Up Roth IRA
0.90%$200-4 Year IRA
0.90%$200-4 Year Roth IRA
0.90%$200-4 Year CESA
0.85%$200-30 Month CESA
0.85%$200-30 Month IRA
0.85%$200-30 Month Roth IRA
0.80%$200-4 Year Step-Up CESA
0.80%$200-4 Year Step-Up IRA
0.80%$200-4 Year Step-Up Roth IRA
0.75%$200-30 Month Step-Up CESA
0.75%$200-30 Month Step-Up IRA
0.75%$200-30 Month Step-Up Roth IRA
0.70%$200-3 Year IRA
0.70%$200-3 Year Roth IRA
0.70%$200-3 Year CESA
0.60%$200-3 Year Step-Up CESA
0.60%$200-3 Year Step-Up IRA
0.60%$200-3 Year Step-Up Roth IRA
0.50%$200-5 Month IRA
0.50%$200-5 Month Roth IRA
0.50%$200-5 Month CESA
0.40%$200-5 Month Step-Up CESA
0.40%$200-5 Month Step-Up IRA
0.40%$200-5 Month Step-Up Roth IRA
0.30%$200-2 Year IRA
0.30%$200-2 Year Roth IRA
0.30%$200-2 Year CESA
0.20%$200-7 Month IRA
0.20%$200-7 Month Roth IRA
0.20%$200-7 Month CESA
0.20%$200-2 Year Step-Up CESA
0.20%$200-2 Year Step-Up IRA
0.20%$200-2 Year Step-Up Roth IRA
0.15%$200-14 Month IRA
0.15%$200-18 Month IRA
0.15%$200-14 Month Roth IRA
0.15%$200-18 Month Roth IRA
0.15%$200-14 Month CESA
0.15%$200-18 Month CESA
0.15%$200-14 Month Step-Up CESA
0.15%$200-14 Month Step-Up IRA
0.15%$200-14 Month Step-Up Roth IRA
0.15%$200-18 Month Step-Up CESA
0.15%$200-18 Month Step-Up IRA
0.15%$200-18 Month Step-Up Roth IRA
0.10%$200-1 Year IRA
0.10%$200-1 Year Roth IRA
0.10%$200-1 Year CESA
0.10%$200-7 Month Step-Up CESA
0.10%$200-7 Month Step-Up IRA
0.10%$200-7 Month Step-Up Roth IRA
0.10%$200-1 Year Step-Up CESA
0.10%$200-1 Year Step-Up IRA
0.10%$200-1 Year Step-Up Roth IRA
0.05%$200-6 Month IRA
0.05%$200-6 Month Roth IRA
0.05%$200-6 Month CESA
0.05%$200-6 Month Step-Up CESA
0.05%$200-6 Month Step-Up IRA
0.05%$200-6 Month Step-Up Roth IRA
0.01%$200-91 Day IRA
0.01%$200-91 Day Roth IRA
0.01%$200-91 Day CESA
0.01%$200-91 Day Step-Up CESA
0.01%$200-91 Day Step-Up IRA
0.01%$200-91 Day Step-Up Roth IRA

Rates updated: 5/21/2013

Data for Q4 2012


Institution Statistics


INOVA
NCUA #4968
BankRate ReportView
Year Chartered1942
Employees95
Primary Regulator

Assets and Liabilities

Assets$263.72 million
Loans$213.94 million
Deposits$239.27 million
Equity Capital$21.40 million
Loan Loss Allowance$1.92 million
Unbacked Noncurrent Loans$1.64 million
Real Estate Owned$745,000

Historic Data - December 2011

Assets$245.17 million
Equity Capital$19.89 million
Loan Loss Allowance$2.17 million
Unbacked Noncurrent Loans$2.72 million
Real Estate Owned$2.07 million

Profit Margin - Quarterly

Net Interest Margin3.66%
Return on Assets0.52%
Return on Equity6.39%
Interest Income$10.24 million
Non-Interest Income$7.25 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
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 INOVA Federal Credit Union had $2.38 million in non-current loans and owned real-estate with $23.32 million in equity and loan loss allowances on hand to cover it. This gives INOVA Federal Credit Union a Texas Ratio of 10.22% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for INOVA Federal Credit Union decreased significantly from 21.72% as of December 31, 2011 to 10.22% as of December 31, 2012, resulting in a positive change of 52.97%.This indicates that the balance sheet and financial strength for INOVA Federal Credit Union has improved significantly in recent periods.
Deposit Growth5
In the past year, INOVA Federal Credit Union has increased its total deposits by $17.02 million, resulting in 7.66% 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 INOVA Federal Credit Union has shown is excellent.
Capitalization3
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. INOVA Federal Credit Union has $263.72 million in assets with $23.32 million in equity, resulting in a capitalization level of 8.84%, which is average.
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