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Innovations Federal Credit Union


Overview / Commentary
www.innovationsfcu.org
850-233-4400
910 Thomas Dr
Panama City, FL 32408

Innovations Federal Credit Union is headquartered in Panama City and is the 41st largest credit union in the state of Florida. It is also the 937th largest credit union in the nation. It was established in 1952 and as of June of 2020, it had grown to 68 employees and 20,917 members at 6 locations. Innovations Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership is open to those who live, work, worship, attend school or volunteer in Bay County. Membership is also open to immediate family of existing members and those eligible for membership.
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Health
A

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #7783
Year Chartered1952
Employees68
Primary Regulator
Profit Margin
Return on Assets - YTD0.94%
Return on Equity - YTD10.1%
Annual Interest Income$5.2MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$277.2MM$268.9MM
LoansQ2 2020vs Q2 2019$194.2MM$166.2MM
DepositsQ2 2020vs Q2 2019$248.6MM$240.5MM
Equity CapitalQ2 2020vs Q2 2019$24.7MM$20.7MM
Loan Loss AllowanceQ2 2020vs Q2 2019$923.00K$1.3MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$308.00K$231.00K
Real Estate OwnedQ2 2020vs Q2 2019$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Innovations Federal Credit Union; 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.

Innovations Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--IRA Contributory
0.20%$100-Share (savings) Account

Innovations Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$1k-Money Market

Innovations Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%--Share Draft (checking) Account
0.00%--Ignite Rewards Cash Back Checking

Innovations Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$1k-36 Month Compounding CD
1.00%$1k-36 Month Non-Compounding CD
0.85%$1k-24 Month Compounding CD
0.85%$1k-24 Month Non-Compounding CD
0.50%$1k-18 Month Compounding CD
0.50%$1k-18 Month Non-Compounding CD
0.45%$1k-12 Month Compounding CD
0.45%$1k-12 Month Non-Compounding CD
0.20%$1k-6 Month Compounding CD
0.20%$1k-6 Month Non-Compounding CD
0.15%$1k-91 Day Compounding CD
0.15%$1k-91 Day Non-Compounding CD

Innovations Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%$1k-36 Month Compounding IRA
0.85%$1k-24 Month Compounding IRA
0.50%$1k-18 Month Compounding IRA
0.45%$1k-12 Month Compounding IRA
Locations


Innovations Federal Credit Union Locations
Branch Office2250 S Highway 77Lynn Haven, FL 32444-4620
Branch Office910 Thomas DrPanama City, FL 32408-7442
Branch Office700 W 23rd StPanama City, FL 32405-3936
Branch Office1038 Harrison AvePanama City, FL 32401
Branch Office123 N Tyndall PkwyPanama City, FL 32404-6431
Branch Office17900 Panama City Beach PKwyPanama City Beach, FL 32413-5503

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