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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. DepositAccounts.com 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

Membership is open to anyone through joining the Elkhart River Restoration Association or Tru Direction. Membership is also open to employees of a member of the credit union's Select Employer Group or as a family member of an existing member.
See current membership details

Related Posts

INOVA FCU (Easy Membership) Has Limited-Time 14-Month CD Rate - 8/10/2016

INOVA FCU (easy membership) is offering a limited-time special rate on its 14-month Share Certificate (1.25% APY). The minimum deposit is $200, with no balance cap.

14Mo CD, 1.25% APY - 8/10/2016

14-Month Certificate Special | Inova Federal Credit Union $200 minimum deposit also as an IRA Easy membership requirements

INOVA FCU Offers Very Competitive 91-Day CD - 5/25/2016

INOVA FCU (easy membership requirement) is offering a limited-time 91-day Certificate Special (1.90% APY w/checking; 1.60% APY w/o checking). Minimum deposit is $200.

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.

Dreadful And Incompetent

I tried to open an Ovation checking account because of the 3% offer in May 2014.
It took more than one month to open the account because the Inova Credit Union representative simply forgot to send me my opening documents. I had to explicitly ask about the whereabouts before the representative admitted this. By that time Inova Credit Union changed the rules of how to earn the higher interest of 3%. They made it much harder to earn this interest rate. Then, a few months later, the interest rate dropped down to 2%. Again, in July 2015 the benefit of having a higher interest was removed. These days (August 2015) the Ovation checking account offers an interest rate of 0.07% which is ridiculously low. Trying to compensate for the lack of any benefits Inova Credit Union is talking their members into signing up for special certificates of deposit. One gets 2% for two months. But then, without notification, on maturity date Inova Credit Union moves one's funding into a CD paying 0.05%. This is enough for me! I will withdraw all my funds from Inova Credit Union.



Health Grade Components

NCUA #4968
Year Chartered1942
Primary Regulator
Profit Margin
Return on Assets - YTD0.15%
Return on Equity - YTD1.83%
Annual Interest Income$3.4MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$309.8MM$309.3MM
LoansQ1 2016vs Q1 2015$267.7MM$271.9MM
DepositsQ1 2016vs Q1 2015$266.2MM$266.1MM
Equity CapitalQ1 2016vs Q1 2015$24.4MM$23.5MM
Loan Loss AllowanceQ1 2016vs Q1 2015$2.7MM$2.9MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$2.4MM$3.0MM
Real Estate OwnedQ1 2016vs Q1 2015$200.00K$712.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

14Mo CD, 1.25% APY

Carpline   |  
14-Month Certificate Special | Inova Federal Credit Union

$200 minimum deposit
also as an IRA
Easy membership requirements

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

INOVA Federal Credit Union Money Market Rates

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

0.25%*$2k*-Elite Checking
OTHER TIERS: 0.07% Up to $2k
0.25%--Business Dividend Checking
0.07%--Advantage 50 Checking
0.07%$2,500-Performance Checking

INOVA Federal Credit Union CD Rates

1.80%$200-5 Year CD
1.80%$200-6 Year CD
1.70%$200-5 Year Step-Up CD
1.70%$200-6 Year Step-Up CD
1.50%$200-4 Year CD
1.40%$200-4 Year Step-Up CD
1.25%$200-14 Month CD
1.05%$200-3 Year CD
0.95%$200-3 Year Step-Up CD
0.60%$200-30 Month CD
0.55%$200-2 Year CD
0.50%$200-30 Month Step-Up CD
0.45%$200-2 Year Step-Up CD
0.30%$200-18 Month CD
0.25%$200-1 Year CD
0.25%$200-1 Year Step-Up CD
0.20%$200-7 Month CD
0.20%$200-18 Month Step-Up CD
0.17%$200-14 Month Step-Up CD
0.15%$200-6 Month CD
0.15%$200-6 Month Step-Up CD
0.14%$200-5 Month CD
0.10%$200-91 Day CD
0.10%$200-91 Day Step-Up CD
0.10%$200-60 Day CD
0.05%$200-30 Day CD

INOVA Federal Credit Union IRA Rates

1.90%$200-5 Year IRA
1.90%$200-6 Year IRA
1.80%$200-5 Year Step-Up IRA
1.80%$200-6 Year Step-Up IRA
1.60%$200-4 Year IRA
1.50%$200-4 Year Step-Up IRA
1.25%$200-14 Month IRA
1.15%$200-3 Year IRA
1.05%$200-3 Year Step-Up IRA
0.70%$200-30 Month IRA
0.65%$200-2 Year IRA
0.60%$200-30 Month Step-Up IRA
0.55%$200-2 Year Step-Up IRA
0.40%$200-18 Month IRA
0.35%$200-1 Year IRA
0.30%$200-7 Month IRA
0.30%$200-18 Month Step-Up IRA
0.25%$200-6 Month IRA
0.20%$200-91 Day IRA
0.15%$200-6 Month Step-Up IRA
0.15%$200-1 Year Step-Up IRA
0.10%$200-91 Day Step-Up IRA

INOVA Federal Credit Union Locations
Branch Office2448 6th stBerkeley, CA 94710
Branch Office358 S Elkhart AveElkhart, IN 46516
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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
Branch Office127 Pony Farm RdClayton, NC 27520-9456