INOVA Federal Credit Union

INOVA Federal Credit Union, a credit union in Elkhart (Indiana)

INOVA Federal Credit Union is an American credit union established in 1942. Its original charter was intended to serve the employees of Miles Laboratories. Over time it expanded its membership base to more than 48,000 members and also serves workers at over 500 companies. The institution operates six of its own branches and relies on shared networks to extend its coverage.

Personal banking products

The personal account lineup includes several checking account options, among them Financial Freedom Shield Checking, Simply Free Checking, Performance Checking, Advantage 50 Checking and Elite Checking, as well as a health savings account (HSA). In savings it offers a membership account, youth account, money market accounts, club accounts, financial management account, certificates of deposit and individual retirement accounts (IRAs).

Financing and credit

In the personal loan section there are personal loans, home mortgages, the HomeStretch Mortgage option, home equity lines of credit (HELOC), auto loans, recreational vehicle loans and personal term loans. The institution also offers the Skip A Pay! program to defer a loan payment.

Business services

For the business segment, INOVA has specific checking and savings accounts, term loans, lines of credit, commercial real estate financing and equipment loans. In cash management it offers ACH origination, business digital banking, Positive Pay, fraud prevention and remote deposit. The Small Business Restart Fund, a grant program, is also listed.

Cards and rewards

The card offering includes Visa credit cards in several versions (Platinum, Share Secured, Platinum Rewards and Global Good), as well as debit cards with tools such as mobile wallet, INOVA alerts and rewards programs, among them INOVA Cash Back Rewards. The institution also offers the Love My Credit Union Rewards program.

Digital services and access network

INOVA provides digital banking and mobile banking, with access to the shared branch network and surcharge-free ATMs. According to the institution's own data, its network reaches more than 5,600 service centers and nearly 30,000 free ATMs nationwide. The credit union also publishes its routing number 271290681 for electronic transactions.

Insurance, financial education and advice

Through INOVA Insurance Agency it offers life and accidental death and dismemberment (AD&D) insurance. In the educational area it organizes Financial FREEdom sessions, the Empresarios business training program for entrepreneurs, auto buying help and financial literacy content such as Tru Direction. It also partners with GreenPath Financial Wellness and maintains a news and advice section, as well as financial calculators.

Membership and community

Membership is tied to company eligibility, and the institution publishes information on how to join. Among its community initiatives are the INOVA - Tolson Scholarship and support for the Tolson Center. The credit union identifies itself as INOVA DIRECT, an entity accredited by the Better Business Bureau in Elkhart, Indiana.