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 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.

3.25% Step Up 30 Month CD - 1/26/2019

Not the highest rate of late but provides a one time bump up to rate. Requires 50k or more in new money to open.

Appears Cd Rates Went Down Today. 14 Month Now 2.75 APY - 1/18/2019 14 month cd was 3.00APY yesterday confirmed with CSR, but now shows 2.75 APY.

View all posts from:

Pleased With Inova

Posted by: Ally6770 | Mar 28, 2014

I have had an account with Inova for quite a while. I like the 3% on the $20,000. The employees are amazing. No matter who you speak with they give you the correct answers and explain it so that there is no other meaning. Very friendly. They also will email the information.

NO Free Lunch

Posted by: Alan | May 17, 2014

With many Reward Checking Account customers touting their plans to deposit $15K - $20K in accounts at various banks/CUs, and making 10 'payments' of $1 or less online in 15 minutes, it was only a matter of time before one of the rate leaders in RCA decided, 'enough is enough', and set a minimum purchase high enough to eliminate most of the scammers, and make the RCA plan beneficial to customers and financial institutions. The RCA plans must make sense for both sides. The alternative, for those who have followed the history of the RCAs on Deposit Accounts, has been for financial institutions to drop RCAs completely or to drop the rate far enough to eliminate the scammers. After all, there never has and never will be a 'Free Lunch.' Someone always pays . . .

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 - YTD1.18%
Return on Equity - YTD13.76%
Annual Interest Income$18.2MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$392.3MM$348.5MM
LoansQ4 2018vs Q4 2017$356.4MM$313.9MM
DepositsQ4 2018vs Q4 2017$317.7MM$288.0MM
Equity CapitalQ4 2018vs Q4 2017$33.1MM$28.6MM
Loan Loss AllowanceQ4 2018vs Q4 2017$3.9MM$3.7MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$3.3MM$4.3MM
Real Estate OwnedQ4 2018vs Q4 2017$0$34.00K
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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
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

3.25%$200-6 Year CD
3.25%$200-6 Year Step-Up CD
3.00%$200-5 Year CD
3.00%$200-5 Year Step-Up CD
2.75%$200-4 Year Step-Up CD
2.75%$200-4 Year CD
2.50%$200-3 Year CD
2.50%$200-3 Year Step-Up CD
2.50%$200-30 Month CD
2.50%$200-30 Month Step-Up CD
1.85%$200-2 Year CD
1.85%$200-2 Year Step-Up CD
1.50%$200-18 Month CD
1.50%$200-18 Month Step-Up CD
1.25%$200-14 Month CD
1.25%$200-14 Month Step-Up CD
1.00%$200-1 Year CD
1.00%$200-1 Year Step-Up CD
0.85%$200-7 Month CD
0.75%$200-5 Month Step-Up CD
0.75%$200-6 Month CD
0.75%$200-5 Month CD
0.75%$200-6 Month Step-Up CD
0.35%$200-91 Day CD
0.35%$200-91 Day Step-Up CD
0.35%$200-30 Day CD
0.35%$200-60 Day CD

INOVA Federal Credit Union IRA Rates

3.50%$200-6 Year IRA
3.50%$200-6 Year Step-Up IRA
3.25%$200-5 Year IRA
3.25%$200-5 Year Step-Up IRA
3.00%$200-4 Year IRA
3.00%$200-4 Year Step-Up IRA
2.75%$200-3 Year IRA
2.75%$200-3 Year Step-Up IRA
2.75%$200-30 Month IRA
2.75%$200-30 Month Step-Up IRA
2.10%$200-2 Year IRA
2.10%$200-2 Year Step-Up IRA
1.75%$200-18 Month IRA
1.75%$200-18 Month Step-Up IRA
1.50%$200-14 Month IRA
1.50%$200-14 Month Step-Up IRA
1.25%$200-1 Year IRA
1.25%$200-1 Year Step-Up IRA
1.10%$200-7 Month IRA
1.10%$200-7 Month Step-Up IRA
1.00%$200-6 Month IRA
1.00%$200-6 Month Step-Up IRA
1.00%$200-5 Month IRA
1.00%$200-5 Month Step-Up IRA
0.60%$200-91 Day IRA
0.60%$200-91 Day Step-Up IRA
0.60%--30 Day IRA

INOVA Federal Credit Union Locations
Branch Office2607 7th St Ste ABerkeley, CA 94710-2571
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 Office121 E Grove StMishawaka, IN 46545

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