INOVA Federal Credit Union

Overview / Commentary
358 S Elkhart Ave
Elkhart, IN 46516

Inova Federal Credit Union received its charter in 1942 with the original purpose of serving the employees of Miles Laboratories, a health care research company. It now offers a range of deposit and loan products to a wide membership base.

Inova offers a Premium Dividend Rate on its checking account if certain requirements are met and maintained. has recognized the credit union in the past for its reward checking account offering. Inova also has multiple savings and money market account programs to meet its members’ needs, including a health savings account. Its basic savings account option provides bill pay, ATM access, and direct deposit Share certificates with term lengths from 30 days to 6 years are available to members as well, and a flexible CD allows the account holder to change its interest rate once during the life of the CD. Inova’s business banking side includes many similar products and provides services like wiring transfers and escrowing management.

Inova Federal Credit Union online banking features the latest technology which give members access to a customizable home banking webpage, from which they can manage one or multiple accounts. Inova has optimized its website for mobile banking to provide members with access to their accounts from the convenience of their smartphones and tablet devices.

Inova FCU is headquartered in Elkhart, Indiana and serves its members through multiple branches located in several states throughout the country.

Field of Membership Restrictions

INOVA Federal Credit Union offers membership to any U.S. citizen or resident by joining either the Elkhart River Restoration Association or Tru Direction. Employees/members of more than 500 Select Employee Groups also qualify for membership. Immediate family/household members of current INOVA members are also eligible.
See current membership details

Related Posts

INOVA Federal Credit Union Has 14-Month IRA, 2.95% APY - 6/27/2019

INOVA Federal Credit Union (easy membership) is currently offering 2.95% APY on its 14-month IRA Certificate and IRA Step-Up Certificate. Minimum deposit is $200.

Cd Rates Well Below The Rates On Depositaccounts - 6/19/2019

I was looking at the 6 year IRA CD group on DepositAccounts and saw Inova at 3.5%. When I went to their website the rate displayed was 2.35% so I called to verify and sure enough the 3.5% rate is a thing of the past. The rates on other Inova CDs have dropped considerably from what is on DepositAccounts. Oh well.

INOVA IRA Rates Plummet - 2/14/2019

If you were considering one of Inova's (formerly) exceptional IRA CD rates, take another look at their rate page. They changed within the last few days. The 30 month IRA CD rate had been 3.5%... now 2.75% 6 year IRA CD had been 3.7%... now 3.5% 5 year IRA CD had been 3.65%... now 3.25% I had been working on forms to transfer an IRA from a brokerage (which can be slow), and was concerned about exactly this.

View all posts from:

Great Service For IRA Dept.

Posted by: Jos | Jun 30, 2019

I live in NJ and I opened my Roth IRA with Inova FCU -Indiana last month. Jackie Pennington was in charge to take care of account opening. She followed up closely and perfectly my account was completed in one week. Everything ran so smoothly with only phone communication at such where I live and where they are located do not matter.
Thank you for a great customer service!

Great FCU!

Posted by: enorris | Jun 5, 2019

I have been with Inova for several months now and have several accounts with them. I would highly recommend to others. Great rates great service!

New Requirements For INOVA 5-$51 Puchases

Posted by: bobfc | Jun 15, 2014

Begining July 1, 2014, INOVA FCU no longer require 15 signature based purchases per monthly cycle. The new requirement is five signature based purchases, at least $51.00 each.


Posted by: RonPaul | Dec 26, 2018

I signed up for the 6 year CD at 4% and then 2 days later they told me they will not honor it. Probably because they had too many applications for it. Terrible credit union. Total scam.



Health Grade Components

NCUA #4968
Year Chartered1942
Primary Regulator
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD10.82%
Annual Interest Income$10.2MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$436.3MM$384.0MM
LoansQ2 2019vs Q2 2018$370.7MM$336.1MM
DepositsQ2 2019vs Q2 2018$367.8MM$299.9MM
Equity CapitalQ2 2019vs Q2 2018$35.0MM$31.2MM
Loan Loss AllowanceQ2 2019vs Q2 2018$4.1MM$3.6MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$3.3MM$2.9MM
Real Estate OwnedQ2 2019vs Q2 2018$0$0
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Always verify rates and promotions with the bank or credit union. We are not INOVA 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.

INOVA Federal Credit Union Savings Account Rates

0.01%$100-Membership Savings
0.01%--Special Savings
0.01%$100-Christmas Club
0.01%--Health Savings Account
0.01%--IRA Savings

INOVA Federal Credit Union Money Market Rates

1.50%$100k-Platinum Money Market Savings
1.25%$50k-Gold Money Market Savings
0.40%*$100k*-Financial Management Account
OTHER TIERS: 0.01% Up to $10k | 0.10% $10k - $25k | 0.20% $25k - $50k | 0.35% $50k - $100k
0.40%*$100k*-IRA Financial Management Account
OTHER TIERS: 0.01% Up to $10k | 0.10% $10k - $25k | 0.20% $25k - $50k | 0.35% $50k - $100k
0.05%--IRA Money Market Savings

INOVA Federal Credit Union Checking Account Rates

3.00%*-$15kShield Checking
OTHER TIERS: 0.07% $15k+
0.35%*$100k*-Ovation Business Checking
OTHER TIERS: 0.15% $10k - $25k | 0.25% $25k - $50k | 0.30% $50k - $100k
0.25%*$2k*-Elite Checking
OTHER TIERS: 0.11% Up to $2k
0.25%--Business Dividend Checking
0.07%--Advantage 50 Checking
0.07%--Performance Checking

INOVA Federal Credit Union CD Rates

1.90%$200-6 Year CD
1.90%$200-6 Year Step-Up CD
1.75%$200-5 Year CD
1.75%$200-5 Year Step-Up CD
1.50%$200-4 Year Step-Up CD
1.50%$200-4 Year CD
1.45%$200-3 Year CD
1.45%$200-3 Year Step-Up CD
1.40%$200-30 Month CD
1.40%$200-30 Month Step-Up CD
1.35%$200-2 Year CD
1.35%$200-2 Year Step-Up CD
1.25%$200-18 Month CD
1.25%$200-18 Month Step-Up CD
0.75%$200-1 Year CD
0.75%$200-1 Year Step-Up CD
0.50%$200-6 Month CD
0.50%$200-6 Month Step-Up CD
0.35%$200-91 Day CD
0.35%$200-91 Day Step-Up CD
0.30%$200-60 Day CD
0.25%$200-30 Day CD

INOVA Federal Credit Union IRA Rates

2.15%$200-6 Year IRA
2.15%$200-6 Year Step-Up IRA
2.00%$200-5 Year IRA
2.00%$200-5 Year Step-Up IRA
1.75%$200-4 Year IRA
1.75%$200-4 Year Step-Up IRA
1.70%$200-3 Year IRA
1.70%$200-3 Year Step-Up IRA
1.65%$200-30 Month IRA
1.65%$200-30 Month Step-Up IRA
1.60%$200-2 Year IRA
1.60%$200-2 Year Step-Up IRA
1.50%$200-18 Month IRA
1.50%$200-18 Month Step-Up IRA
1.00%$200-1 Year IRA
1.00%$200-1 Year Step-Up IRA
0.75%$200-6 Month IRA
0.75%$200-6 Month Step-Up IRA
0.60%$200-91 Day IRA
0.60%$200-91 Day Step-Up IRA
0.50%--30 Day IRA

INOVA Federal Credit Union Locations
Branch Office358 S Elkhart AveElkhart, IN 46516
Branch Office619 County Road 6 EElkhart, IN 46514
Branch Office661 County Road 17Elkhart, IN 46516
Branch Office12980 Adams Rd Ste GGranger, IN 46530
Branch Office1025 S Carroll AveMichigan City, IN 46360
Branch Office2607 7th St Ste ABerkeley, CA 94710-2571
Branch Office121 E Grove StMishawaka, IN 46545

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