Inova Federal Credit Union
Headquarters
358 S Elkhart Ave
Elkhart, IN 46516
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2024 Overview
General Credit Union Information
Inova is an NCUA insured institution located in Elkhart, IN. It was founded in 1942 and has approximately $716.1 millions in assets.
Membership:
You may join if you are an employee or member of one of our Select Employer Groups (SEGs). To see a complete list:
http://www.inovafcu.org/about-us/member-information/making-your-company-eligible.html
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 4968 |
| Date Established | 1942 |
| Assets | $716.10 million |
| Loans | $642.21 million |
| Deposits | $579.72 million |
| Capital | $53.83 million |
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)
Deposit Rates - April 24, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| SAV
|
0.01% | $100 | - |
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|
|
Money Market
|
1.65% | $0 | $50,000 |
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|
|
Money Market
|
2.15% | $50,001 | $100,000 |
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|
|
Money Market
|
4.15% | $100,001 | $250,000 |
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|
|
Money Market
|
5.15% | $250,001 | - |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 60 Day
|
1.50% | $200 | - |
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|
| 91 Day
|
4.00% | $200 | - |
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|
| 6 Mo CD
|
4.00% | $200 | - |
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|
| 12 Mo CD
|
5.00% | $200 | - |
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|
| 18 Mo CD
|
4.50% | $200 | - |
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|
| 24 Mo CD
|
4.50% | $200 | - |
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|
| 30 Mo CD
|
4.50% | $200 | - |
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|
| 36 Mo CD
|
4.75% | $200 | - |
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|
| 48 Mo CD
|
4.00% | $200 | - |
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|
| 60 Mo CD
|
4.25% | $200 | - |
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|
| 6 Year
|
4.25% | $200 | - |
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|
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| INTCK
|
0.07% | $0 | - | Learn More |
Loan Rates - April 24, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Inova
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 401822 |
6.806% | 6.625% | 0.88 | $6,000 | $2,049 | Learn More |
NMLS ID: 2059741 |
6.905% | 6.750% | 1.00 | $5,094 | $2,076 | Learn More |
NMLS ID: 3030 |
7.451% | 7.375% | 0.75 | $2,400 | $2,211 | Learn More |
NMLS ID: 491986 |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Inova
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Branches
Below are Inova branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
INOVA is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Inova Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Inova. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Inova | U.S. Average |
|---|---|
| 30.59% | 6.97 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of December 31, 2023, Inova had $17,796,185 in non-current loans and $781,020 in owned assets. To cover these potential losses it had $53,831,786 in net worth and $6,901,702 in loans loss reserves. That gives it a Texas Ratio of 30.59%.
Net Worth
| Inova | U.S. Average |
|---|---|
| 7.51% | 13.62% |
Inova FCU has a net worth of 7.51% versus the BestCashCow average of 13.62. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Inova
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