INNOVATIONS FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.innovationsfcu.org for more information.
Sep, 30, 2025 — INNOVATIONS FEDERAL CREDIT UNION is a federal credit union headquartered in PANAMA CITY, FL with 6 branch locations and about $359.17 million in total assets. Opened 74 years ago in 1952, INNOVATIONS FEDERAL CREDIT UNION has about 22,163 members and employs 71 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | INNOVATIONS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | P O BOX 15529 PANAMA CITY, FL 32406 |
| Phone: | (850) 233-4400 |
| Fax: | (850) 233-4445 |
| Website: | https://www.innovationsfcu.org |
| Branches: | 6 branch locations |
| Members: | 22,163 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7783 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $359,169,309 |
| CEO/Manager: | David Southall |
| Chairperson: | Rob Fernandez |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 39,172,626 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 146,653,007 |
| Unsecured Loans | 15,538,401 |
| Other Loans | 95,375,066 |
| TOTAL LOANS | 257,566,474 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -807,037 |
| Land And Building | 11,406,146 |
| Other Fixed Assets | 1,436,265 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 2,759,974 |
| All Other Assets | 135,264 |
| TOTAL ASSETS | 359,169,309 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 7,112,710 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 102,608,460 |
| Regular shares | 157,516,885 |
| All Other Shares & Deposits | 62,190,054 |
| TOTAL SHARES & DEPOSITS | 322,315,399 |
| TOTAL LIABILITIES | 329,428,109 |
| Regular Reserve | 0 |
| Other Reserves | 2,131,561 |
| Undivided Earnings | 27,609,639 |
| TOTAL EQUITY | 29,741,200 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 359,169,309 |
| INCOME & EXPENSE | |
| Loan Income | 3,078,917 |
| Investment Income | 67,658 |
| Other Income | 1,024,785 |
| Total Employee Compensation & Benefits | 2,014,776 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,656,448 |
| Non-operating Income & (Expense) | -1,574 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 227,719 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 834,919 |
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