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 186th largest credit union in the nation. It was established in 1976 and as of June of 2018, it had grown to 182 employees and 102,728 members at 6 locations. Elements Financial's savings rates are 2X the national average, and it has an A health rating.

Field of Membership Restrictions

Elements Financial is open to employees, students, retirees, or members of eligible Elements partners including Lilly, The Heritage Group, OneAmerica, Indy Chamber, Indiana Chamber, College Park Church, Butler University and many other 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

Related Posts

Summer Certificate Specials From Elements Financial - 8/23/2018

Elements Financial introduced its Summer Certificate Special on August 1, 2018 – a series of 3 certificates with nice, low minimums: • 2.75% APY1 34-Month Certificate • 2.50% APY 22-Month Certificate • 2.00% APY 14-Month Certificate All three certificate specials require only $1,000 minimum to open2. This highly competitive offer will be available for a limited time only. The timing of the promotion is perfectly aligned with summertime. It’s a good time to put some cash into competitively-priced, secure certificates. At Elements, we believe there is no better way to improve one’s personal financial wellness than to save. Consumers can open one of these certificates now at elements.org/2018SummerSpecial or by calling Elements Member Service at (800) 621-2105. More About Elements Financial Elements Financial is a diversified federal credit union with assets of more than $1.5 billion and 100,000 members in all 50 states and 50 countries. As a financial wellness provider, Elements

Rate Climber Increased - 8/2/2018

34-Month Rate Climber Increased to 1.70% APY 54-Month Rate Climber Increased to 2.20% APY https://www.elements.org/rates/

57-Month CD - 6/1/2018

Elements Financial has added a 57-month CD at 2.80% APY. Unlike its other odd-term CDs, it doesn't seem to have a "rate-climber" add-on/step-up feature, so I don't find it particularly attractive, given all the other institutions that now offer 60-month CDs at 3+% APY.

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Reviews (4)

Very Good For HSA

Posted by: MaryJones | Aug 18, 2018

I took an extremely long time to open our HSA accounts because as I reviewed all the ones out there, I was not happy with any. Most have tons of fees for doing anything, or nothing at all. My primary objective was to find one where there would be no fees if I simply deposit funds and don't do anything. Elements provided that.

These days most folks are looking for the ability to use their HSA to participate in the stock market, either utilizing a brokerage account of being able to invest in mutual funds. Elements provides that ability. Yes, there are fees - as there will be with any HSA which provides for it.

My only nitpick is that during the account opening process, for a new member, they limit the initial deposit to the HSA...that limit is below their minimum for avoiding the monthly fee. I wanted to contribute the full year maximum, which was above their minimum to avoid the monthly fee. Couldn't do it - had to open it with initial limit they imposed, then do a second transfer to bring the balance up - and get hit with a fee the first month. When I opened my spouse's HSA, I figured a way around this - first funding the member savings account (required to open the HSA) and then doing an internal transfer to the new HSA for the one year maximum contribution. Elements should either raise the maximum allowable initial deposit to the HSA, or post a tip how to open it and avoid the monthly fee. I opened our accounts almost 2 years ago, so maybe they have changed that since.

Anyhow, the interest rate on savings is not competitive, and again there are fees for using a brokerage account. However, if you're looking for a safe place to put your HSA money and not have it eaten away with fees for having it simply having sit dormant, this is a good one.

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.

Transfers To External Accounts

Posted by: Hiyeld | Sep 19, 2018

1. They have $10,000 limit per day for outgoing ACH transfers
2. In my case, Wire Transfer Department took three attempts to type my account number correctly. Their email to me presented a correct number, but in wire transfer computer they typed incorrect. Wasted all day talking to both institutions.

General customer service is great and supportive.

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 - YTD0.73%
Return on Equity - YTD8.99%
Annual Interest Income$25.5MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$1.51B$1.43B
LoansQ2 2018vs Q2 2017$1.20B$1.13B
DepositsQ2 2018vs Q2 2017$1.26B$1.19B
Equity CapitalQ2 2018vs Q2 2017$126.0MM$120.7MM
Loan Loss AllowanceQ2 2018vs Q2 2017$10.4MM$10.6MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$3.0MM$2.1MM
Real Estate OwnedQ2 2018vs Q2 2017$26.00K$0
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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.

Elements Financial Savings Account Rates

1.10%$2.5k-Helium Savings
1.00%*$10k*-Health Savings Account (HSA)
OTHER TIERS: 0.25% $100 - $2.5k | 0.50% $2.5k - $10k
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% $2.5k - $25k | 0.25% $25k - $100k
0.45%*$250k*-Premium Money Market Account
OTHER TIERS: 0.05% $100 - $2.5k | 0.10% $2.5k - $10k | 0.15% $10k - $25k | 0.21% $25k - $50k | 0.31% $50k - $100k | 0.40% $100k - $250k

Elements Financial Checking Account Rates

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

Elements Financial CD Rates

2.90%$1k$250k54 Month Rate Climber CD
2.90%$500$250k54 Month Rate Climber Youth CD
2.85%$1k$250k34 Month Rate Climber CD
2.85%$500$250k34 Month Rate Climber Youth CD
2.85%$1k$250k34 Month CD Special
2.85%$500-34 Month Youth CD Special
2.75%$1k$250k22 Month CD Special
2.75%$500$250k22 Month Youth CD Special
2.60%$1k$250k14 Month CD Special
2.60%$500$250k14 Month Youth CD Special
2.25%$1k$250k5 Year CD
2.25%$500$250k5 Year Youth CD
2.00%$1k$250k4 Year CD
2.00%$500$250k4 Year Youth CD
1.50%$1k$250k3 Year CD
1.50%$1k$250k7 Year CD
1.50%$500$250k3 Year Youth CD
1.50%$500$250k7 Year Youth CD
1.35%$1k$250k2 Year CD
1.35%$500$250k2 Year Youth CD
1.30%$1k$250k18 Month CD
1.30%$500$250k18 Month Youth CD
1.25%$1k$250k1 Year CD
1.25%$500$250k1 Year Youth CD
0.85%$1k$250k6 Month CD
0.85%$500$250k6 Month Youth CD

Elements Financial IRA Rates

2.85%$1k-34 Month IRA Special
2.75%$1k-22 Month IRA Special
2.60%$1k-14 Month IRA Special
2.25%$1k-5 Year IRA
2.00%$1k-4 Year IRA
1.50%$1k-3 Year IRA
1.50%$1k-7 Year IRA
1.35%$1k-2 Year IRA
1.30%$1k-18 Month IRA
1.25%$1k-1 Year IRA
0.85%$1k-6 Month IRA

Elements Financial Locations
Branch Office639 S Delaware StIndianapolis, IN 46225
Branch Office2500 Innovation Way N Bldg CGreenfield, IN 46140
Branch Office225 S East St Ste 300Indianapolis, IN 46202
Branch Office1400 W Raymond StIndianapolis, IN 46221-2004
Branch Office302 W Washington St Rm E030Indianapolis, IN 46204
Branch Office1200 W Morris StIndianapolis, IN 46221-1710

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