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Indiana University Credit Union

Popular Accounts at this Credit Union

1.51%5-year CD5 Year CD
0.65%1-year CD1 Year CD
0.20%SavingsMembership Savings

Overview / Commentary
105 E Winslow Rd
Bloomington, IN 47401

Indiana University Credit Union is headquartered in Bloomington and is the 10th largest credit union in the state of Indiana. It is also the 298th largest credit union in the nation. It was established in 1956 and as of March of 2017, it had grown to 200 employees and 62,138 members at 12 locations. Indiana University Credit Union's money market rates are 14% higher than the national average, and it boasts 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 (2)

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 Grade Components

NCUA #68577
Year Chartered1956
Primary Regulator
Profit Margin
Return on Assets - YTD1.04%
Return on Equity - YTD8.08%
Annual Interest Income$6.6MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$934.4MM$863.6MM
LoansQ1 2017vs Q1 2016$631.6MM$561.5MM
DepositsQ1 2017vs Q1 2016$806.2MM$743.9MM
Equity CapitalQ1 2017vs Q1 2016$117.7MM$111.3MM
Loan Loss AllowanceQ1 2017vs Q1 2016$2.2MM$2.1MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$1.2MM$3.0MM
Real Estate OwnedQ1 2017vs Q1 2016$37.00K$137.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Indiana University Credit Union Savings Account Rates

0.20%--Membership Savings
0.20%--IRA Savings
0.20%--Business Membership Savings
0.20%--Coverdell ESA

Indiana University Credit Union Money Market Rates

0.50%*$50k*-Money Market Savings
OTHER TIERS: 0.20% Up to $10k | 0.30% $10k - $25k | 0.40% $25k - $50k
0.50%*$50k*-Business Money Market Savings
OTHER TIERS: 0.20% Up to $10k | 0.30% $10k - $25k | 0.40% $25k - $50k
0.10%--Money Market Checking

Indiana University Credit Union Checking Account Rates

0.20%*$50k*-Platinum Checking
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.15% $25k - $50k
0.15%$1k-BusinessPLUS Checkinig
0.15%$1k-BusinessANALYSIS Checking

Indiana University Credit Union CD Rates

1.51%$500-3 Year CD
1.51%$500-4 Year CD
1.51%$500-5 Year CD
1.51%$500-6 Year CD
1.51%$500-Business 3 Year CD
1.51%$500-Business 4 Year CD
1.51%$500-Business 5 Year CD
1.51%$500-Business 6 Year CD
1.31%$10k-25 Month Relationship CD
1.11%$10k-13 Month Relationship CD
0.95%$500-30 Month CD
0.95%$500-Business 30 Month CD
0.90%$500-2 Year CD
0.90%$500-Business 2 Year CD
0.75%$500-18 Month CD
0.75%$500-Business 18 Month CD
0.65%$500-1 Year CD
0.65%$500-Business 1 Year CD
0.45%$2k-6 Month CD
0.45%$2k-Business 6 Month CD

Indiana University Credit Union IRA Rates

1.51%$500-3 Year IRA Certificate
1.51%$500-4 Year IRA Certificate
1.51%$500-5 Year IRA Certificate
1.51%$500-6 Year IRA Certificate
1.31%$10k-25 Month Relationship IRA
1.11%$10k-13 Month Relationship IRA
0.95%$500-30 Month IRA Certificate
0.90%$500-2 Year IRA Certificate
0.75%$500-18 Month IRA Certificate
0.65%$500-1 Year IRA Certificate
0.45%$2k-6 Month IRA Certificate

Indiana University Credit Union has 12 locations. Click to view all Indiana University Credit Union locations.