Innovations Federal Credit Union

Overview / Commentary
910 Thomas Dr
Panama City, FL 32408

Innovations Federal Credit Union is headquartered in Panama City and is the 40th largest credit union in the state of Florida. It is also the 928th largest credit union in the nation. It was established in 1952 and as of December of 2019, it had grown to 71 employees and 20,325 members at 6 locations. Innovations Federal Credit Union has a B+ 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 Grade Components

NCUA #7783
Year Chartered1952
Primary Regulator
Profit Margin
Return on Assets - YTD1.79%
Return on Equity - YTD19.66%
Annual Interest Income$10.9MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$253.6MM$263.5MM
LoansQ4 2019vs Q4 2018$176.5MM$158.7MM
DepositsQ4 2019vs Q4 2018$226.4MM$238.5MM
Equity CapitalQ4 2019vs Q4 2018$23.4MM$18.7MM
Loan Loss AllowanceQ4 2019vs Q4 2018$865.00K$1.3MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$366.00K$437.00K
Real Estate OwnedQ4 2019vs Q4 2018$0$0
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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

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

Innovations Federal Credit Union Money Market Rates

0.25%$1k-Money Market

Innovations Federal Credit Union Checking Account Rates

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

Innovations Federal Credit Union CD Rates

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

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

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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