INOVA Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.80% | 6+ Year CD | 6 Year CD 1.69% - National Average |
| 1.80% | 5-year CD | 5 Year CD 2.35% - Synchrony Bank 60 Month CD |
| 0.25% | 1-year CD | 14 Month CD 1.40% - Synchrony Bank 12 Month CD |
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 any of the Credit Union's Select Employer Groups 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
2/13 - 14 Month 1.85% Special CD Closing Today.
2/8 - INOVA FCU Celebrates 75 Years With 14-Month CD (1.75% APY)
2/8 - 75th Anniversary 14-Month CD Special, 1.75% APY
8/10 - 14Mo CD, 1.25% APY
5/25 - INOVA FCU Offers Very Competitive 91-Day CD
5/24 - 91-Day, 1.90% APY CD. Quick Look.
5/21 - 1.75%/1.50% 75-Day CD
4/3 - Inova Federal CU RCA ($20K, 3%APY) To ($20K, 2%APY)
3/23 - INOVA Credit Report
2/18 - INOVA FCU Has Top-Rate 15-month IRA Certificate Special
2/9 - INOVA CD Specials: 75 Day 1.50%/1.75%; 15 Mon IRA 2.15%. ???.
1/6 - 91-Day Certificate, 2.50% If You Have Reward Checking, 2.25% Otherwise
5/4/14 - Changes To INOVA Ovations Reward Checking
6/5/13 - Rare Reward Checking Rate Hike at INOVA Federal Credit Union
6/4/13 - INOVA FCU RCA Rate Increase (2.0%APY, $20K) To (3.0%APY, $20K)
4/2/12 - Review Of Joining INOVA FCU And Transferring An IRA To INOVA
3/30/12 - INOVA Cds Not Listed On CD Rates Pages; Rate Has Dropped, But Still Competitive
3/22/12 - Updated Comparison of Top Long-Term CD Rates After Early Withdrawal Penalties
2/27/12 - Comparing Top Long-Term CD Rates After Early Withdrawal Penalties
1/11/12 - Top 6-Year CD & Reward Checking Rates at INOVA FCU - Easy Membership
1/30/11 - Top 6-Year CD Rate at INOVA FCU in IN, CA & NC - Easy Membership
11/4/10 - Top Long-Term CD Rates at INOVA FCU in Several States - Easy Membership
4/11/10 - 3.00% 48-Month CD at INOVA FCU in Several States - Easy Membership
4/11/10 - High-Yield Reward Checking Account at INOVA FCU in Several States - Easy Membership
2/14/06 - 5.75% 72-Month / 5.50% 60-Month CD at a CU
Pleased With Inova
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
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
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.
This Credit Union Is Fishy, Perhaps A SCAM!
I applied to open a 42 month CD with a 2.30% APY since it is just about the best yield you can get these days. Keep in mind they do a hard pull of your credit report.
I was approved and they emailed me the docs to e-sign. I read these agreements to make sure there won't be any surprises. Well, good thing I read the docs.
In order to open an account you are required to open a savings account with a $5 balance. This is SOP for credit unions. HOWEVER, after reading their fee disclosures, I discovered that they charge $2.50 per month if your savings account balance drops below $100.00. That is not a big deal but it was not disclosed by the representative who I spoke with.
The bigger issue is that after the first year you have to maintain $1,000 in the savings account to avoid a $5/month fee. (Remember, I was opening a 42 month CD, so I had to have the savings account for 42 months.) THIS WAS NOT DISCLOSED AT ALL WHEN I SPOKE WITH THEIR REP. I KNOW IT'S ONLY $60/YEAR, BUT WITH THESE LOW INTEREST RATES THAT $60 CUTS INTO YOUR EFFECTIVE APY.
WHAT SCARED ME OFF NEXT IS THAT THE REP SAID THAT THE CD BALANCE ($10,000 IN MY CASE) WOULD BE INCLUDED IN CALCULATING MY TOTAL BALANCE AND AS A RESULT WOULD SATISFY THE $1,000 MINIMUM BALANCE. HOWEVER THEIR FEE SCHEDULE DOES NOT SAY THAT AT ALL, AS I ADVISED HER. SO SHE TOLD ME TO CALL IN A YEAR AND REMIND HER OF OUR CONVERSATION AND SHE WOULD WAIVE THE FEE!!!! ARE YOU KIDDING ME?! THIS SOUNDS LIKE A SCAM, SO BEWARE OF THIS CREDIT UNION.
Data as of Q1 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 4968 |
| Year Chartered | 1942 |
| Employees | 99 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.93% |
| Return on Equity - YTD | 11.48% |
| Annual Interest Income | $3.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2017vs Q1 2016 | $336.4MM$309.8MM |
| Loans | Q1 2017vs Q1 2016 | $285.2MM$267.7MM |
| Deposits | Q1 2017vs Q1 2016 | $290.8MM$266.2MM |
| Equity Capital | Q1 2017vs Q1 2016 | $26.5MM$24.4MM |
| Loan Loss Allowance | Q1 2017vs Q1 2016 | $3.3MM$2.7MM |
| Unbacked Noncurrent Loans | Q1 2017vs Q1 2016 | $3.6MM$2.4MM |
| Real Estate Owned | Q1 2017vs Q1 2016 | $382.00K$200.00K |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.35%* | $100k* | - | Business Ovation Checking | ||
| OTHER TIERS: 0.15% → $10k - $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k | |||||
| 0.25%* | $2k* | - | Elite Checking | ||
| OTHER TIERS: 0.07% → Up to $2k | |||||
| 0.25% | - | - | Business Dividend Checking | ||
| 0.07% | $2,500 | - | Ovation Checking | ||
| 0.07% | - | - | Advantage 50 Checking | ||
| 0.07% | - | - | Performance Checking | ||
| 0.07% | - | - | Shield Checking | ||
INOVA Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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 | |
| 0.90% | $200 | - | 30 Month CD | |
| 0.80% | $200 | - | 2 Year CD | |
| 0.80% | $200 | - | 30 Month Step-Up CD | |
| 0.75% | $200 | - | 7 Month CD | |
| 0.70% | $200 | - | 18 Month CD | |
| 0.70% | $200 | - | 2 Year Step-Up CD | |
| 0.60% | $200 | - | 1 Year CD | |
| 0.60% | $200 | - | 18 Month Step-Up CD | |
| 0.50% | $200 | - | 6 Month CD | |
| 0.50% | $200 | - | 1 Year Step-Up CD | |
| 0.40% | $200 | - | 6 Month Step-Up CD | |
| 0.25% | $200 | - | 14 Month CD | |
| 0.17% | $200 | - | 14 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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 | |
| 1.00% | $200 | - | 30 Month IRA | |
| 0.90% | $200 | - | 2 Year IRA | |
| 0.90% | $200 | - | 30 Month Step-Up IRA | |
| 0.80% | $200 | - | 18 Month IRA | |
| 0.80% | $200 | - | 2 Year Step-Up IRA | |
| 0.75% | $200 | - | 7 Month IRA | |
| 0.70% | $200 | - | 1 Year IRA | |
| 0.70% | $200 | - | 18 Month Step-Up IRA | |
| 0.60% | $200 | - | 6 Month IRA | |
| 0.60% | $200 | - | 1 Year Step-Up IRA | |
| 0.50% | $200 | - | 6 Month Step-Up IRA | |
| 0.35% | $200 | - | 14 Month IRA | |
| 0.20% | $200 | - | 91 Day IRA | |
| 0.10% | $200 | - | 91 Day Step-Up IRA |
| INOVA Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 2448 6th st | Berkeley, CA 94710 |
| Branch Office | 358 S Elkhart Ave | Elkhart, IN 46516 |
| Branch Office | 619 County Road 6 E | Elkhart, IN 46514 |
| Branch Office | 661 County Road 17 | Elkhart, IN 46516 |
| Branch Office | 12980 Adams Rd Ste G | Granger, IN 46530 |
| Branch Office | 1025 S Carroll Ave | Michigan City, IN 46360 |
| Branch Office | 121 E Grove St | Mishawaka, IN 46545 |
| Branch Office | 127 Pony Farm Rd | Clayton, NC 27520-9456 |