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Elements Financial

Popular Accounts at this Credit Union

2.00%Reward CheckingHigh Interest Checking
2.00%5-year CD54 Month Rate Climber CD
0.60%SavingsHelium Savings

Overview / Commentary
225 S East St Ste 300
Indianapolis, IN 46202

Elements Financial is headquartered in Indianapolis and is the 4th largest credit union in the state of Indiana. It is also the 185th largest credit union in the nation. It was established in 1976 and as of September of 2017, it had grown to 173 employees and 95,162 members at 6 locations. Elements Financial's savings rates are 15% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Elements Financial is open to anyone through membership in Tru Direction Inc. ($5 dues payment). Membership is also open to employees or members of Zappos.com, Indiana University Health, OneAmerica Financial Partners, and over 90 Select Employer Groups.
See current membership details

Related Posts

Elements Financial Ups Rates on 34- and 54-month Rate Climber CDs - 7/10/2017

Elements Financial (easy membership) has raised rates on its Rate Climber Certificates: 34-month (1.75% APY) and 54-month (2.25% APY). $1k min/$250k max.

Rate Increases On Rate Climber Cds - 7/1/2017

This morning, Elements Financial increased the rates on its 34- and 54-month “rate climber” CDs. The 34-month rate went from 1.50% to 1.75% APY and the 54-month rate went from 2.00% to 2.25% APY. The new rates seem not only competitive for CDs of their maturities, but the increases also allow holders of outstanding rate climbers to (1) bump-up the rate on their CDs to the new rate and (2), at the same time, add-on to their balances in an unlimited amount. I spoke with a member services rep this morning and she went over with me an internal memo describing the mechanics of the rate-climber. To take full advantage of its bump-up and add-on features, you have to get additional funds to Elements first (eg, by deposit into your savings account), then telephone Elements and ask them to raise the rate and transfer the additional funds to the CD. This can also be done at a branch. The original maturity date of the CD remains the same.

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Reviews (2)

Generally satisfied customer.

Generally, I have been very happy with Elements Financial Credit Union. I have been with this bank for over a decade. When I originally signed up for an account using a bank that was primarily online was a very uncommon thing to do. When I originally opened my account the bank was called Eli Lilly Federal Credit Union. There are branches available inside Lilly pharmaceutical, but are unavailable to me as a non employee. I only had a problem finding a service center during one period when I lived in Florida for a brief time. I was eventually able to find a service center, but it was quite inconvenient. There are a large variety of deposit options and they are all accessible via web or phone contact only. All in all, I was satisfied enough with my experience that I have opened an account with a different credit union under similar circumstances.

For HSA Investing, Clunky And Expensive

Posted by: msf | Nov 25, 2017

Elements (formerly Eli Lilly FCU) used to be a good place to have an HSA investment account. These days, not good at all.

Most HSAs that allow investments have a banking side (here, Elements) and an investment side (either a small menu of mutual funds or a brokerage partner, here TDAmeritrade). Elements requires you to keep $2500 on the credit union side or pay $4/mo to invest. That's higher than many other providers. It also charges $25 per transfer to the investment (TDAmeritrade) side. That's quite unusual.

Also unusual is that instead of having two logins (one for Elements and one for TDA), you need three. The third is for a third party site (pilothsa.com) that handles the transfers.

That site imposes a three business day lag between the time a trade settles at TDA (i.e. the time that TDA says you can withdraw cash), and the time the transfer site will allow you to transfer the money. It also gets confused if you place multiple transfers too close together (even if there is enough money available). I'm still working on resolving that problem.

The final concern is that TDAmeritrade recently changed its list of NTF ETFs, replacing lots of inexpensive ones from Vanguard and iShares with more expensive ones.

If you just want to keep cash on the Elements side, it seems fine. But if you want to use this for investing within an HSA, it's not the most efficient or user friendly place to do so.


Health Grade Components

NCUA #22468
Year Chartered1976
Primary Regulator
Profit Margin
Return on Assets - YTD0.55%
Return on Equity - YTD6.51%
Annual Interest Income$33.5MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$1.45B$1.31B
LoansQ3 2017vs Q3 2016$1.14B$1.11B
DepositsQ3 2017vs Q3 2016$1.20B$1.10B
Equity CapitalQ3 2017vs Q3 2016$122.8MM$114.7MM
Loan Loss AllowanceQ3 2017vs Q3 2016$10.4MM$13.9MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$2.7MM$2.5MM
Real Estate OwnedQ3 2017vs Q3 2016$84.00K$66.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Elements Financial Savings Account Rates

1.00%*$10k*-Health Savings Account (HSA)
OTHER TIERS: 0.25% $100 - $2,500 | 0.50% $2,500 - $10k
0.60%$2,500-Helium Savings
0.25%$100-The Grow Account
0.21%--IRA Savings
0.20%*$50k*-HideAway Savings
OTHER TIERS: 0.10% $100 - $25k | 0.15% $25k - $50k
0.20%*$50k*-Member Savings
OTHER TIERS: 0.10% $100 - $25k | 0.15% $25k - $50k

Elements Financial Money Market Rates

0.50%*$100k*-Business Premium Money Market
OTHER TIERS: 0.10% $2,500 - $25k | 0.25% $25k - $100k

Elements Financial Checking Account Rates

2.00%*$100*$20kHigh Interest Checking
OTHER TIERS: 0.10% $20k+

Elements Financial CD Rates

2.30%$1k$250k10 Year CD
2.30%$500$250k10 Year Youth CD
2.15%$1k$250k7 Year CD
2.15%$500$250k7 Year Youth CD
2.05%$1k$250k5 Year CD
2.05%$500$250k5 Year Youth CD
2.00%$1k$250k54 Month Rate Climber CD
2.00%$500$250k54 Month Rate Climber Youth CD
1.75%$20k-13 Month CD Special
1.50%$1k$250k34 Month Rate Climber CD
1.50%$500$250k34 Month Rate Climber Youth CD
1.35%$1k$250k4 Year CD
1.35%$500$250k4 Year Youth CD
1.10%$1k$250k3 Year CD
1.10%$500$250k3 Year Youth CD
1.05%$1k$250k2 Year CD
1.05%$500$250k2 Year Youth CD
1.00%$1k$250k18 Month CD
1.00%$500$250k18 Month Youth CD
0.50%$1k$250k1 Year CD
0.50%$500$250k1 Year Youth CD
0.40%$1k$250k6 Month CD
0.40%$500$250k6 Month Youth CD

Elements Financial IRA Rates

2.30%$1k-10 Year IRA
2.15%$1k-7 Year IRA
2.05%$1k-5 Year IRA
1.35%$1k-4 Year IRA
1.10%$1k-3 Year IRA
1.05%$1k-2 Year IRA
1.00%$1k-18 Month IRA
0.50%$1k-1 Year IRA
0.40%$1k-6 Month IRA

Elements Financial Locations
Branch Office2500 Innovation Way N Bldg CGreenfield, IN 46140
Branch Office1650 Lilly RdLafayette, IN 47909
Branch Office225 S East St Ste 300Indianapolis, IN 46202
Branch Office1400 W Raymond StIndianapolis, IN 46221-2004
Branch Office1200 W Morris StIndianapolis, IN 46221-1710
Branch OfficeBuilding 21/c, DC 2015Indianapolis, IN 46285