Elements Financial is headquartered in Indianapolis and is the 4th largest credit union in the state of Indiana. It is also the 189th largest credit union in the nation. It was established in 1976 and as of December of 2022, it had grown to 200 employees and 101,525 members at 2 locations. Elements Financial's savings rates are 8X the national average, and it has an A health rating.
Elements Financial is open to employees, students, retirees, or members of eligible Elements partners including Eli Lilly and Company, The Heritage Group, OneAmerica, Indy Chamber, College Park Church, Butler University or any one of the more than 135 select employer groups (a complete list can be found on the credit union's website). Immediate family and household members may also join.
See current membership details
I just joined and opened a helium savings account. I have never had such an easy enrollment. Hope the rest of the experience is just as good.
I was with Elements Financial in late 2022 when 3.25% APY was one of the leading rates in the USA. Transfer of money in was smooth, they paid interest every month, and I eventually left them to go with another bank that had a higher rate in late quarter 1 2023, Elements did not continue to increase their savings rate as other banks were. I called to close my account eventually and the customer service was reasonable, no issues. If they had a higher savings interest rate I would have stayed with them. But that's how the game goes, after all.
Having dealt with banks & credit unions around the world for 40+ years, I'm accustomed to bankers not having all the facts about new offerings and the website having bugs. I experienced both with Elements Financial. After 4 frustrating phone calls to Elements, I got a callback from Paulette Stull who politely and promptly resolved all my issues and corrected all prior misinformation about their Helium Savings and High Interest checking. Without Paulette, I would have rated my overall experience as 1 star. BOTTOM LINE: There is no cap (maximum deposit limit) on the 3.25% APY savings account. There is a $20,000 cap on the 4% High Interest checking AND you must use debit card 15 times per month.
9-29-22 A personal bank representative reached out to me and after make a few adjustments i elected to keep the account open, so I feel whole again with Elements.
9-24-21 I have had a elements helium savings account, that I had kept open even when their rates fell to near zero, with a balance over 1K in it for over two years to maintain a on going relationship with them.
So I inquired about the the new rate promo (When I finally got to speak a person), after "a long wait time on hold" I was told I would not qualify since I was already a member, and would not be able to add more funds to the account for the new rate. That lesson was learned the hard way. After 90 days you reapply for a new account they said.
Were does that make any sense on their part ?
I immediately closed the account !
Overall | |
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NCUA # | 22468 |
Year Chartered | 1976 |
Employees | 200 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.45% |
Return on Equity - YTD | 8.73% |
Annual Interest Income | $67.1MM |
Assets and Liabilities | ||
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Assets | Q4 2022vs Q4 2021 | $2.29B$2.07B |
Loans | Q4 2022vs Q4 2021 | $1.57B$1.31B |
Deposits | Q4 2022vs Q4 2021 | $1.82B$1.73B |
Equity Capital | Q4 2022vs Q4 2021 | $117.1MM$186.9MM |
Loan Loss Allowance | Q4 2022vs Q4 2021 | $12.8MM$11.5MM |
Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $2.6MM$545.00K |
Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Elements Financial; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
3.50%* | $250k* | - | Business Premium Money Market | ||
OTHER TIERS: 0.75% → Up to $25k | 1.50% → $25k - $50k | 2.25% → $50k - $100k | 3.00% → $100k - $250k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
5.00%* | - | $20k | High Interest Checking Special - New Members | ||
OTHER TIERS: 0.10% → $20k+ | |||||
2.00%* | - | $20k | High Interest Checking | ||
OTHER TIERS: 0.10% → $20k+ |
Elements Financial Locations | ||
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Branch Office | 639 S Delaware St | Indianapolis, IN 46225 |
Branch Office | 225 S East St Ste 300 | Indianapolis, IN 46202 |