Sep, 30, 2025 — INOVA FEDERAL CREDIT UNION is a federal credit union headquartered in ELKHART, IN with 7 branch locations and about $663.00 million in total assets. Opened 84 years ago in 1942, INOVA FEDERAL CREDIT UNION has about 47,509 members and employs 140 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | INOVA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 358 S Elkhart Ave ELKHART, IN 46516 |
| Phone: | (574) 294-6553 |
| Fax: | (574) 293-6119 |
| Website: | https://www.inovafederal.org |
| Branches: | 7 branch locations |
| Members: | 47,509 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4968 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1942 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $663,003,009 |
| CEO/Manager: | Dallas Bergl |
| Chairperson: | Robert Weaver |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,513,269 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 339,487,185 |
| Unsecured Loans | 23,814,690 |
| Other Loans | 236,907,229 |
| TOTAL LOANS | 606,531,299 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,104,963 |
| Land And Building | 13,913,449 |
| Other Fixed Assets | 2,014,858 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 4,746,222 |
| All Other Assets | 5,697,205 |
| TOTAL ASSETS | 663,003,009 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,751 |
| Notes & Interest Payable | 80,000,000 |
| Accounts Payable & Other Liabilities | 4,120,342 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 101,027,645 |
| Regular shares | 81,842,460 |
| All Other Shares & Deposits | 342,764,048 |
| TOTAL SHARES & DEPOSITS | 525,634,153 |
| TOTAL LIABILITIES | 609,893,345 |
| Regular Reserve | 0 |
| Other Reserves | 803,038 |
| Undivided Earnings | 52,306,626 |
| TOTAL EQUITY | 53,109,664 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 663,003,009 |
| INCOME & EXPENSE | |
| Loan Income | 28,699,421 |
| Investment Income | 1,134,854 |
| Other Income | 1,801,672 |
| Total Employee Compensation & Benefits | 8,437,483 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 9,139,238 |
| Non-operating Income & (Expense) | 50,436 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,057,551 |
| Cost of Funds | 13,054,814 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -798,895 |
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