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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 926th largest credit union in the nation. It was established in 1952 and as of March of 2021, it had grown to 73 employees and 21,223 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.
See current membership details

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Health
A

Data as of Q1 2021

Learn why bank health matters

Health Grade Components

Overall
NCUA #7783
Year Chartered1952
Employees73
Primary Regulator
Profit Margin
Return on Assets - YTD0.77%
Return on Equity - YTD8.84%
Annual Interest Income$2.7MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$316.9MM$255.9MM
LoansQ1 2021vs Q1 2020$209.4MM$180.5MM
DepositsQ1 2021vs Q1 2020$284.9MM$228.6MM
Equity CapitalQ1 2021vs Q1 2020$26.5MM$24.0MM
Loan Loss AllowanceQ1 2021vs Q1 2020$779.00K$803.00K
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$441.00K$684.00K
Real Estate OwnedQ1 2021vs Q1 2020$50.00K$0
Rates
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* 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
0.80%$1k-36 Month Compounding CD
0.80%$1k-36 Month Non-Compounding CD
0.70%$1k-24 Month Compounding CD
0.70%$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
0.80%$1k-36 Month Compounding IRA
0.70%$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 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
Branch Office512 W 23rd StPanama City, FL 32405-3919

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