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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. (membership requirements are listed in the credit union's online application)
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.

Stay Away From Inova FCU

I want to make you aware of the negative and frustrating experience I had when closing my 91 day CD with Inova Federal Credit Union. Despite calling before the maturity date and instructing the credit union to move the funds into my checking account upon maturity, this did not happen. Upon calling the first working day after maturity I was told that the funds had been reinvested! After a lengthy hold the agent obtained approval to move the funds into my checking account. I told the agent that I would go to a local shared credit union to access the funds and was assured there would be no problem. At the local credit union the teller called Inova to obtain approval to issue a cashier’s check, as required by shared network policies. Inova refused to grant approval. I spent an hour at the local credit union and the manager finally issued the check after determining that I had closed the CD. This was totally unnecessary if Inova had followed shared network policies. A letter to Inova regarding this has gone unanswered. Don’t be fooled by the special CD rates Inova offers; attempting to get your money out at maturity is a protracted struggle because of Inova’s unethical behavior.



Health Grade Components

NCUA #4968
Year Chartered1942
Primary Regulator
Profit Margin
Return on Assets - YTD0.03%
Return on Equity - YTD0.36%
Annual Interest Income$6.8MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$332.9MM$308.9MM
LoansQ2 2016vs Q2 2015$278.6MM$278.3MM
DepositsQ2 2016vs Q2 2015$288.7MM$265.7MM
Equity CapitalQ2 2016vs Q2 2015$25.2MM$23.8MM
Loan Loss AllowanceQ2 2016vs Q2 2015$2.9MM$2.9MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$3.0MM$2.7MM
Real Estate OwnedQ2 2016vs Q2 2015$689.00K$230.00K
  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
0.01%--Coverdell ESA

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
1.05%$200-3 Year CD
0.95%$200-3 Year Step-Up CD
0.75%$200-7 Month 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
0.35%$200-14 Month CD
0.30%$200-18 Month CD
0.25%$200-1 Year CD
0.25%$200-1 Year Step-Up 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
1.15%$200-3 Year IRA
1.05%$200-3 Year Step-Up IRA
0.75%$200-7 Month 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
0.35%$200-14 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
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
Branch Office127 Pony Farm RdClayton, NC 27520-9456