INOVA Federal Credit Union

INOVA Federal Credit Union Locations
358 S. Elkhart Ave
Elkhart, IN 46516
800.645.3732
www.inovafcu.org

INOVA Federal Credit Union is headquartered in Elkhart and is the 22nd largest credit union in the state of Indiana. It is also the 744th largest credit union in the nation. It was established in 1942 and as of September of 2011, it had grown to 98 employees and 24,075 members. INOVA Federal Credit Union's money market rates are 2X the national average, and it has a 3-star health rating.

INOVA Federal Credit Union Routing Number: 271290681

Related Posts

Top 6-Year CD & Reward Checking Rates at INOVA FCU - Easy Membership - 1/11/2012

Most of the CD rates at INOVA Federal Credit Union are low, but there's one rate that's very competitive. It's the 6-year share certificate which has a 2.50% APY. Minimum deposit is $200. There's also ...

Top 6-Year CD Rate at INOVA FCU in IN, CA & NC - Easy Membership - 1/30/2011

The 5-year CD rate has fallen since my last post on INOVA Federal Credit Union . However, the credit union is still listing the same competitive rate for the 6-year CD of 3.05% APY. The 5-year CD rate ...

Top Long-Term CD Rates at INOVA FCU in Several States - Easy Membership - 11/4/2010

INOVA Federal Credit Union is offering some competitive long-term CD rates. The two best include a 3.05% APY 6-year CD and a 2.75% APY 5-year CD. The rates are 10 basis points higher for IRA CDs. Mini ...

3.00% 48-Month CD at INOVA FCU in Several States - Easy Membership - 4/11/2010

INOVA Federal Credit Union is offering a special 4-year CD with a 3.00% APY. This is also available as an IRA with a 3.10% APY. These rates are listed on the credit union's front page as of 4/11/2010 ...

2010




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

INOVA Federal Credit Union Checking Account Rates

ApyMinMaxProduct
3.00%-$20kOvation Checking
0.50%$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

INOVA Federal Credit Union Money Market Rates

ApyMinMaxProduct
0.99%--Diamond Money Market
0.65%$100k-Platinum Money Market
0.60%$100k-Live Wire Money Market
0.50%$100k-Financial Management Account
0.50%$100k-IRA Financial Management Account
0.45%$50k-Gold Money Market
0.10%$25k-Silver Money Market
0.05%--IRA Money Market Savings
0.01%$10k-Money Market Savings

INOVA Federal Credit Union CD Rates

ApyMinMaxProduct
2.50%$200-6 Year CD
2.40%$200-6 Year Step-Up CD
1.50%$200-5 Year CD
1.40%$200-5 Year Step-Up CD
1.15%$200-4 Year CD
1.05%$200-4 Year Step-Up CD
1.00%$200-3 Year CD
0.90%$200-3 Year Step-Up CD
0.75%$200-30 Month CD
0.65%$200-30 Month Step-Up CD
0.60%$200-14 Month CD
0.50%$200-7 Month CD
0.50%$200-14 Month Step-Up CD
0.40%$200-7 Month 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%$200-18 Month CD
0.15%$200-18 Month Step-Up CD
0.10%$200-1 Year 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
2.60%$200-6 Year IRA
2.60%$200-6 Year Roth IRA
2.60%$200-6 Year CESA
2.50%$200-6 Year Step-Up CESA
2.50%$200-6 Year Step-Up IRA
2.50%$200-6 Year Step-Up Roth IRA
1.60%$200-5 Year IRA
1.60%$200-5 Year Roth IRA
1.60%$200-5 Year CESA
1.50%$200-5 Year Step-Up CESA
1.50%$200-5 Year Step-Up IRA
1.50%$200-5 Year Step-Up Roth IRA
1.25%$200-4 Year IRA
1.25%$200-4 Year Roth IRA
1.25%$200-4 Year CESA
1.15%$200-4 Year Step-Up CESA
1.15%$200-4 Year Step-Up IRA
1.15%$200-4 Year Step-Up Roth IRA
1.10%$200-3 Year IRA
1.10%$200-3 Year Roth IRA
1.10%$200-3 Year CESA
1.00%$200-3 Year Step-Up CESA
1.00%$200-3 Year Step-Up IRA
1.00%$200-3 Year Step-Up Roth IRA
0.85%$200-30 Month CESA
0.85%$200-30 Month IRA
0.85%$200-30 Month 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%$200-14 Month IRA
0.70%$200-14 Month Roth IRA
0.70%$200-14 Month CESA
0.60%$200-7 Month IRA
0.60%$200-7 Month Roth IRA
0.60%$200-7 Month CESA
0.60%$200-14 Month Step-Up CESA
0.60%$200-14 Month Step-Up IRA
0.60%$200-14 Month Step-Up Roth IRA
0.50%$200-5 Month IRA
0.50%$200-5 Month Roth IRA
0.50%$200-5 Month CESA
0.50%$200-7 Month Step-Up CESA
0.50%$200-7 Month Step-Up IRA
0.50%$200-7 Month Step-Up Roth IRA
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%$200-2 Year Step-Up CESA
0.20%$200-2 Year Step-Up IRA
0.20%$200-2 Year Step-Up Roth IRA
0.15%$200-18 Month IRA
0.15%$200-18 Month Roth IRA
0.15%$200-18 Month CESA
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%$200-1 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: 2/10/2012

Data for Q3 2011


Institution Statistics


INOVA
NCUA #4968
BankRate ReportView
Year Established1942
Employees98
Primary Regulator

Assets and Liabilities

Assets$243.25 million
Loans$168.36 million
Deposits$221.82 million
Equity Capital$19.66 million
Loan Loss Allowance$2.12 million
Unbacked Noncurrent Loans$2.76 million
Real Estate Owned$2.28 million

Historic Data - September 2010

Assets$244.05 million
Equity Capital$19.70 million
Loan Loss Allowance$2.49 million
Unbacked Noncurrent Loans$5.32 million
Real Estate Owned$970,000

Profit Margin - Quarterly

Net Interest Margin3.18%
Return on Assets0.02%
Return on Equity0.23%
Interest Income$7.52 million
Non-Interest Income$3.95 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio3
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 September 30, 2011 INOVA Federal Credit Union had $5.04 million in non-current loans and owned real-estate with $21.78 million in equity and loan loss allowances on hand to cover it. This gives INOVA Federal Credit Union a Texas Ratio of 23.14% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for INOVA Federal Credit Union decreased slightly from 28.34% as of September 30, 2010 to 23.14% as of September 30, 2011, resulting in a positive change of 18.36%.This indicates that the balance sheet and financial strength for INOVA Federal Credit Union has improved slightly in recent periods.
Deposit Growth3
In the past year, INOVA Federal Credit Union has decreased its total deposits by -$1.11 million, resulting in -0.5% 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 average.
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 $243.24 million in assets with $21.78 million in equity, resulting in a capitalization level of 8.95%, which is average.
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