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 41st largest credit union in the state of Florida. It is also the 878th largest credit union in the nation. It was established in 1952 and as of June of 2022, it had grown to 72 employees and 22,450 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 Grade Components

NCUA #7783
Year Chartered1952
Primary Regulator
Profit Margin
Return on Assets - YTD1.26%
Return on Equity - YTD14.69%
Annual Interest Income$6.6MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$366.5MM$319.3MM
LoansQ2 2022vs Q2 2021$281.1MM$222.1MM
DepositsQ2 2022vs Q2 2021$327.6MM$287.3MM
Equity CapitalQ2 2022vs Q2 2021$31.1MM$27.1MM
Loan Loss AllowanceQ2 2022vs Q2 2021$790.00K$817.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$475.00K$289.00K
Real Estate OwnedQ2 2022vs Q2 2021$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

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

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

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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