Innovations Federal Credit Union

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A short history of Innovations FCU

Since its inception in 1952 the Innovations Federal Credit Union has been serving its members in the PANAMA CITY, Florida area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by David Southall, the Innovations FCU has grown its membership to over 19,034 with assets of more than $191,194,190. They have a main office and 6 branch offices. Please see the credit unions website or contact them by phone at (850) 233-4400 or email them at none to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in PANAMA CITY, FL.

General Information For Innovations FCU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 7783
Address P O BOX 15529 
State Florida 
Zip-Code 32406
Phone Number (850) 233-4400
Fax Number (850) 233-4445
Email Address: none
CEO/President David Southall
Members 19,034 
Full-Time Employees 68 
Part-Time Employees
Number of Branch Offices
Total Assets 191,194,190 

Compare Innovations Federal Credit Union To Other Local Credit Unions

Credit Union Name
Branch Name
Zip Code
Phone Number
ATM Access
Distance (Miles)
Bay CU Bay Credit Union 7713 Front Beach Rd 32407 (850) 230-3862 No 1.55
Panhandle Educators CU Panhandle Educators FCU 4295 N Highway 231 32404 (850) 818-0720 No 2.88
Tyndall CU Tyndall Air Force Base Branch Building 913 32403 (850) 769-9999 No 3.32

Innovations Federal Credit Union Financial Performance Charts

Performance Charts

Website Image

Financial Data

Innovations Federal Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 9.50 3.50 6.25 4.75 5.50
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 201 209 468 238 289
Rank Among All Florida Credit Unions 19 42 70 40 37

Innovations Federal Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate 0.10 0.20 0.25 0.45 0.25
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions 116 108 105 274 266
Rank Among All Florida Credit Unions 11 11 22 55 38
Innovations Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 9.5004,1627,152,748
All Other Unsecured Loans/Lines of Credit 13.2501,2782,513,591
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 3.50058010,990,550
Used Vehicle Loans 6.2504,17342,312,561
Total 1st Mortgage Real Estate Loans/Lines of Credit 4.75049959,871,631
Total Other Real Estate Loans/Lines of Credit 5.5001264,173,321
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 3.2503907,501,261
TOTAL LOANS & LEASES 11,208134,515,663

Innovations Federal Credit Union Real Estate Loans and Lines of Credit


No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 17930,425,036153,625,422
    b. 15 Years or less 21412,773,352272,197,433
    a. > 15 years 234,789,4505783,106
    b. 15 Years or less 579,944,654142,713,954
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 241,764,64624254,415
Adjustable Rate > 1 yr 2174,49300


Closed-End Fixed Rate 731,959,551395,850
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 512,206,448511,619,746
Open-End Fixed Rate 27,322210,888
TOTALS 62564,044,95214111,300,814


Interest Only & Payment Option 1st Mortgage Loans 9401,829369,486
Interest Only & Payment Option Other RE/LOC Loans 386,88710,888
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Innovations Federal Credit Union Member Offerings
First Time Homebuyer Program No
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards Yes
Overdraft Protection/Courtesy Pay Yes
Overdraft Lines of Credit Yes
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans Yes
Check Cashing Yes
Money Orders Yes
No Surcharge ATMs Yes
Home Banking Via Internet Website Yes