Elements Financial is headquartered in Indianapolis and is the 5th largest credit union in the state of Indiana. It is also the 194th largest credit union in the nation. It was established in 1976 and as of March of 2025, it had grown to 180 employees and 99,528 members at 5 locations. Elements Financial's savings rates are 8X the national average, and it has a B+ health rating.
Field of Membership Restrictions
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
WOW! Easy Enrollment
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.
Great Rate But Not So Smooth Setup & Info
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.
Be Careful When Looking At The 24 Month "Flex" 5.72 CD!
Read the fine print very closely. They can change the rate at any time!
"Flex Rate Certificate (Variable Rate) Annual Percentage Yield (APY) effective as of September 1, 2024, and may change without notice. The dividend rate and APY are based on the current Prime Rate index as published in the Wall Street Journal minus a margin of 3.00%. The dividend rate and APY are variable and will adjust the next business day following a change in Prime Rate index. The minimum floor APY for the flex rate certificates is 0.00% and the maximum APY will never be greater than 17.00%. Minimum deposit of $1,000 to open certificate. Primary members under the age of 18 must have a $500 minimum deposit to open certificate. Minimum of $500 balance required to earn dividends. Health Savings account funds are not eligible. Fees may reduce earnings. Penalty for early withdrawal. Elements reserves the right to amend or discontinue offers at any time and to limit the balance of a certificate at any time"
Just Awful
Tried opening a 12 Month CD for an amount close to the FDIC insured limit, the account set up process was acceptable and so was their CS response time, the glaring issue is their ridiculously low transfer funding limits ($1000 per day), basically its impossible to move any meaningful amount of money unless your are willing to go trough the expense and hassle of a wire transfer into their account
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 22468 |
| Year Chartered | 1976 |
| Employees | 180 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.64% |
| Return on Equity - YTD | 8.47% |
| Annual Interest Income | $28.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $2.52B$2.46B |
| Loans | Q1 2025vs Q1 2024 | $1.66B$1.61B |
| Deposits | Q1 2025vs Q1 2024 | $2.12B$2.08B |
| Equity Capital | Q1 2025vs Q1 2024 | $181.7MM$147.4MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $16.2MM$15.6MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $4.3MM$3.1MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |