Indiana University Credit Union


Overview / Commentary
888-855-6928
105 E Winslow Rd
Bloomington, IN 47401

Indiana University Credit Union is headquartered in Bloomington and is the 11th largest credit union in the state of Indiana. It is also the 304th largest credit union in the nation. It was established in 1956 and as of June of 2019, it had grown to 204 employees and 67,253 members at 11 locations. Indiana University Credit Union has an A+ health rating.

Field of Membership Restrictions

Membership in IU Credit Union is open to those who live or work in the following: (1) the Indiana counties of Adams, Allen, Bartholomew, Boone, Brown, Carroll, Cass, Clark, Clinton, Decatur, DeKalb, Elkhart, Fayette, Floyd, Grant, Greene, Hamilton, Hancock, Harrison, Hendricks, Henry, Howard, Huntington, Jackson, Jasper, Jennings, Johnson, Lake, LaPorte, Lawrence, Marshall, Miami, Monroe, Morgan, Newton, Noble, Owen, Porter, Randolph, St. Joseph, Shelby, Starke, Sullivan, Tipton, Union, Vigo, Washington, Wayne, Wells, or Whitley; (2) the Indiana townships of Marion Center, Marion Franklin, Marion Lawrence, Marion Perry, Marion Pike, Marion Warren, Marion Washington, or Marion Wayne; (3) dues-paying members of the Indiana University Alumni Association.
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Reviews (3)

My experience with IU Credit Union

My wife and I opened an IU (Indiana University) Credit Union account when we moved to the area about seven years ago. Over that time period we have used checking (with a debit card), savings and a Money Market account. We have always found the service at the credit union to be better than we have ever seen at any bank. We have also been impressed with the interest we receive on our savings account; it appears to be consistently a half point higher than our local bank. We also like that the credit union was willing to offer us a loan when we were considering remodeling our house. Their web site is fine, no frills. We also like that there are no checking fees and that we get free paper statements each month, which we like more than the online ones at other banks. All in all our experience with IUCU has been nothing but positive, we would recommend them to everyone.

Perfect for me!

Posted by: JimmyD.3 | Jun 9, 2014

I just needed a local place to cash checks and was recommended IU Credit Union from a family member. Friendly, communicative, and I am so glad that I switched to them. They have gone to a new online banking system that actually informs you of transactions before they are actually processed.

So-So Offerings, Clueless Employees

As a student, I banked with them for about 2 years. They have several ATMs around Bloomington, one in the union, one in the library for example. They give free checks.

But the employees always seemed a bit off. For example, they refused to raise my credit card limit from 2k to 3k citing my "lack of income" (apparently they only would consider my stipend, and ignored the fact I earn 20k each summer doing internship). Capitol One gave me a card with a 10k limit - much more than the 3k I asked for, with the same information. Since I must often purchase plane tickets and then submit the receipt for reimbursement, it is nice to have a credit card limit that can carry all charges from a business trip.

IUCU also shut down my Visa credit card while I was travelling in Spain. My backup card was a Discover (not accepted in most European businesses). They were completely unapolegetic when I had to call them (at international rates) to gain access to my funds.

When I planned to spend a summer in the SF Bay Area, I called IUCU to inquire about their "shared branching" service. They assured me I could perform all the functions I perform at IUCU (such as cashing checks) at affiliated CUs in the Bay. After I received my first paycheck, I went to deposit it... I had to pay off Visa charges from my gas and meals driving to California, as well as get access to money for rent. Unfortunately, IUCU would not allow shared branching because they had been unable to deliver mail to me. (I had filed a  temporary change of address with the post office - but to no avail, the bank would not honor it). In addition to not being able to cash my rent check, I was charged a "bad address" fee (which, in their defense, they waived after I called to complain)

There also have been other minor issues... for example, they upgraded their online banking, breaking Mint compatibility. The new UI was powered by Intuit (Mint's parent company) and contained similar functionality, but I lost several months of historical data from the switch.

In short, the only real benefit IUCU provides is ample atm access, even this is true only in Bloomington, and you can get a Charles Schwab account and not be subject to ATM fees anyways. IUCU's basic saving accounts gives less interest than a Charles Schwab checking account.



Health
A+

Health Grade Components

Overall
NCUA #68577
Year Chartered1956
Employees204
Primary Regulator
Profit Margin
Return on Assets - YTD1.15%
Return on Equity - YTD8.46%
Annual Interest Income$19.2MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$1.07B$985.5MM
LoansQ2 2019vs Q2 2018$858.9MM$760.1MM
DepositsQ2 2019vs Q2 2018$913.0MM$843.5MM
Equity CapitalQ2 2019vs Q2 2018$144.5MM$130.6MM
Loan Loss AllowanceQ2 2019vs Q2 2018$3.3MM$2.9MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$3.9MM$3.7MM
Real Estate OwnedQ2 2019vs Q2 2018$0$12.00K
Rates

Rates for Indiana University Credit Union are currently being reviewed.

Locations

Availability



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