5 star ratingAverage User Rating:
5 star rating based on 1 review.

Interra Credit Union

300 W Lincoln Ave
Goshen, IN 46526
888.432.2848
www.interracu.com

Interra Credit Union is headquartered in Goshen and is the 11st largest credit union in the state of Indiana. It is also the 343rd largest credit union in the nation. It was established in 1932 and as of March of 2012, it had grown to 156 employees and 49,528 members. Interra Credit Union's savings rates are 3X the national average, and it boasts a 5-star health rating.

Interra Credit Union Routing Number: 271291017

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4.00% Reward Checking Account ($10K Max) In Indiana - ASI-Insured Only (Forum) - 6/6/2010

I haven't blogged on this deal because it's not that great ($10K limit) and because the credit union is not federally insured (it only has private ASI deposit insurance). So I thought I would at least mention it in a forum thread. My Rewards Checking f



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

Interra Credit Union Checking Account Rates

ApyMinMaxProduct
2.00%-$10kMy Rewards Checking
0.10%--Checking

Interra Credit Union Savings Account Rates

ApyMinMaxProduct
1.50%$500-60 Month HSA
1.10%$500-48 Month HSA
1.00%--HSA Checking
0.80%$500-36 Month HSA
0.60%$500-24 Month HSA
0.50%--Sign & Save Savings
0.50%--Christmas Club
0.50%--Kids Club
0.50%--HSA Savings
0.50%--IRA Savings
0.50%$500-18 Month HSA
0.50%--Roth IRA Savings
0.40%$500-12 Month HSA
0.25%$500-6 Month HSA
0.15%--Member Share Savings
0.15%--Share Savings
0.15%$500-3 Month HSA
0.10%$500-1 Month HSA

Interra Credit Union Money Market Rates

ApyMinMaxProduct
0.40%$100k-Money Market Share Account

Interra Credit Union CD Rates

ApyMinMaxProduct
1.50%$500-60 Month CD
1.10%$500-48 Month CD
0.80%$500-36 Month CD
0.60%$500-24 Month CD
0.50%$500-18 Month CD
0.40%$500-12 Month CD
0.33%$100-Smart Saver CD
0.25%$500-6 Month CD
0.15%$500-3 Month CD
0.10%$500-1 Month CD

Interra Credit Union IRA Rates

ApyMinMaxProduct
1.50%$500-60 Month IRA
1.50%$500-60 Month Roth IRA
1.10%$500-48 Month IRA
1.10%$500-48 Month Roth IRA
0.80%$500-36 Month IRA
0.80%$500-36 Month Roth IRA
0.60%$500-24 Month IRA
0.60%$500-24 Month Roth IRA
0.50%$500-18 Month IRA
0.50%$500-18 Month Roth IRA
0.40%$500-12 Month IRA
0.40%$500-12 Month Roth IRA
0.25%$500-6 Month IRA
0.25%$500-6 Month Roth IRA
0.15%$500-3 Month IRA
0.15%$500-3 Month Roth IRA
0.10%$500-1 Month IRA
0.10%$500-1 Month Roth IRA

Rates updated: 5/21/2013

Data for Q1 2012


Institution Statistics


INTERRA
ASI #Member
BankRate ReportView
Year Chartered1932
Employees156
Primary Regulator

Assets and Liabilities

Assets$598.83 million
Loans$331.79 million
Deposits$522.37 million
Equity Capital$74.23 million
Loan Loss Allowance$2.68 million
Unbacked Noncurrent Loans$1.53 million

Historic Data - March 2011

Assets$553.61 million
Equity Capital$69.56 million
Loan Loss Allowance$2.35 million
Unbacked Noncurrent Loans$756,000
Real Estate Owned$12,000

Profit Margin - Quarterly

Net Interest Margin1.12%
Return on Assets0.73%
Return on Equity5.88%
Interest Income$5.20 million
Non-Interest Income$1.58 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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 March 31, 2012 Interra Credit Union had $1.53 million in non-current loans and owned real-estate with $76.91 million in equity and loan loss allowances on hand to cover it. This gives Interra Credit Union a Texas Ratio of 1.99% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Interra Credit Union held steady from 1.07% as of March 31, 2011 to 1.99% as of March 31, 2012, resulting in a negative change of 86.75%. This indicates that the balance sheet and financial strength for Interra Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, Interra Credit Union has increased its total deposits by $40.54 million, resulting in 8.41% 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 Interra Credit Union has shown is excellent.
Capitalization5
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. Interra Credit Union has $598.83 million in assets with $76.91 million in equity, resulting in a capitalization level of 12.84%, which is excellent.
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Very Friendly And Helpful
5 stars - ronandmelissa - Friday, March 4, 2011 - 11:35 AM

My Fiancee and I have been a customer of thiers for over 10 years. They have always been very friendly and helpful every time we have gone there. When I bring my children with me they go out of their way to give my children suckers or ballons which makes a very positive impact on thier day. They also have a area for kids to play at while thy are there. I had noticed also there is a section that has two computers with internet access for customers along with free coffee. I have never been to a credit union or bank that has so many free features in the building offered to it's customers.

I have had  help when i was mischarged by our phone company duplicate times and the problem was fixed within a very short preiod of time and the money was reimburssed without any red tape. I had also had a mix up with a deposit which did result in getting fees charged to my account but they reversed those charges. This is the best credit union in my opinion. I would never go anywhere else and would recommend them to all I know. 

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