At a glance
From its website, read 2 Nov 2026Innovations Financial Credit Union is a credit union based in Panama City, Florida. Its website describes auto loans, commercial real estate loans, equipment loans and 2 other loan types. The consumer loan APR it states is 2.99%. You can start an application online.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Apply online | Page with the application link |
|---|---|
| Website | www.innovationsfcu.org |
| Office (official list) | 101 East 23rd Street, Panama City, FL 32405 |
What their website says about applying
Contact Jon Smiley, Director of Business Lending, at
sourceapplying online for a vehicle loan
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Auto / vehicle loans | Rate stated, not as an APR: see their wording | 2.99% – 18.00% | source |
| Auto / vehicle loans | Rate: from 2.99% APR | as low as 2.99% APR* | source |
| Personal / consumer loans | Rate stated, not as an APR: see their wording | 9.99% – 18.00% | source |
| Auto / vehicle loans | Term: 3 yr–6 yr | 36 to 72 months | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Credit union |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 5 Nov 2014 |
| RSSD ID | 144388 |
| Address | 101 East 23rd Street, Panama City, FL 32405 Directions (Google Maps) |
| Website | www.innovationsfcu.org |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: high. The pages state no loan amounts and no service area beyond the Panama City location. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Auto / vehicle loans | — | Customized Loans for Vehicles, RVs, Boats, and Airplanes | source |
| Commercial real estate loans | — | Real Estate Loans | source |
| Equipment loans | — | Business Equipment and Machinery Loans | source |
| Personal / consumer loans | — | Personal Loan | source |
| Small-business loans | — | Empower your business with our comprehensive range of Business Loans | source |
Loan sizes
No amounts stated on the pages we read.
Service area
Not stated on the pages we read.
Borrower focus
- Not stated on the pages we read.
Languages
- No non-English service found on the pages we read.
Online application
Yes — the site links to an application. applying online for a vehicle loan
source
Pages read (7)
- https://www.innovationsfcu.org/
- https://www.innovationsfcu.org/loans/rates/
- https://www.innovationsfcu.org/business/loans/
- https://www.innovationsfcu.org/loans/find-a-vehicle/
- https://applynow.innovationsfcu.org/pos/innovationsfcu/7c848532-2280-45f2-900e-cdfdd6431d0f/new
- https://www.innovationsfcu.org/promotions/loans/vehicles/auto-loan/
- https://www.innovationsfcu.org/loans/vehicles/
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- Do you lend where I live, or where my business is?
Their website does not say which area they serve. - How do I become a member, and is there a fee or a minimum deposit?
Credit unions lend only to their members. - What are the smallest and the largest loans you make?
No loan amounts are stated on their website. - What is the APR, including fees, on your personal loans?
Their website states a rate, but not as an APR. The APR includes fees, so it is the number to compare. - What interest rate and fees should I expect on your commercial real estate loans and equipment loans?
Their website does not state a rate for this. - Is there a minimum credit score, and do you consider borrowers with little or no credit history?
Their website does not say what credit history they accept. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$4.5 million in 6 awards from the U.S. Treasury's CDFI Fund, 2018–2024 (CDFI Program, Financial Assistance; CDFI Rapid Response Program; Small Dollar Loan Program).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $800,000 |
| 2022 | Small Dollar Loan Program | $213,497 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2020 | CDFI Program, Financial Assistance | $557,000 |
| 2019 | CDFI Program, Financial Assistance | $650,000 |
| 2018 | CDFI Program, Financial Assistance | $500,000 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Branches and size
NCUA, 30 Jun 2026On file with the NCUA as INNOVATIONS FINANCIAL (charter 68732). Source: NCUA 5300 Call Report quarterly data (public data) as of 30 Jun 2026, downloaded 3 Nov 2026: total assets, members and branch addresses.
| Total assets | $696.1 million (as of 30 Jun 2026) |
|---|---|
| Members | 28,108 (as of 30 Jun 2026) |
| Offices | 10 (as of 30 Jun 2026) |
Offices by state and county (10)
Florida (10 offices)
- Bay County (8): 101 E 23rd St, Panama City 32405 (main office); 2250 S Highway 77, Lynn Haven 32444; 1038 Harrison Ave, Panama City 32401; 123 N Tyndall Pkwy, Panama City 32404; 512 W 23rd St, Panama City 32405; 12501 Hutchison Blvd, Panama City Beach 32407; 17900 Panama City Beach Pkwy, Panama City Beach 32413; 910 Navy Boulevard, Panama City Beach 32408
- Holmes County (1): 402 N Waukesha St, Bonifay 32425
- Washington County (1): 976 Main St, Chipley 32428
An office shows where the lender has a branch, not where it lends or whom it lends to. Credit unions serve members only; check who can join. For the ZIP-code search, credit-union offices are placed at the centre of their ZIP code (approximate).
What the regulator filing shows
NCUA 5300, 30 Jun 2026Figures from the 5300 Call Report filed by Innovations Financial Credit Union (NCUA charter 68732, filed as “INNOVATIONS FINANCIAL”). Source: NCUA 5300 Call Report quarterly data (public data), cycle 30 Jun 2026; year-earlier figures from the 30 Jun 2025 cycle; downloaded 3 Nov 2026.
| Total loans and leases | $542.2 million, 17,794 loans (as of 30 Jun 2026) |
|---|---|
| Change over the year | Up 11.7% from $485.6 million on 30 Jun 2025 |
| Members | 28,108 (as of 30 Jun 2026); 26,389 (as of 30 Jun 2025) |
| Loans per member | $19,291 (total loans divided by members, 30 Jun 2026) |
| Total assets | $696.1 million (as of 30 Jun 2026) |
Loan mix (balances on 30 Jun 2026)
| Loan category | Balance | Share |
|---|---|---|
| New vehicle loans | $28.6 million | 5.3% |
| Used vehicle loans | $104.8 million | 19.3% |
| First-lien home mortgages (1-4 family) | $187.1 million | 34.5% |
| Other real estate loans (junior liens, other) | $21 million | 3.9% |
| Commercial (business) loans | $156.1 million | 28.8% |
| Credit cards | $16.4 million | 3.0% |
| Other unsecured loans | $6.2 million | 1.1% |
| Leases and other secured loans | $22.2 million | 4.1% |
Balances are loans outstanding on the report date, not loans made during the year. A category with no balance does not mean the credit union never makes that kind of loan. Credit unions lend to members only; check who can join.
Home loans reported under HMDA (2025)
FFIEC HMDA data, 2025Innovations Financial Credit Union reported 134 originated home loans for 2025 under the Home Mortgage Disclosure Act, totaling about $36M (median loan about $105,000). 10 were home-purchase loans.
By loan purpose
| Purpose | Loans | Share |
|---|---|---|
| Home purchase | 10 | 7.5% |
| Refinance (incl. cash-out) | 27 | 20% |
| Home improvement | 35 | 26% |
| Other purpose | 62 | 46% |
By loan type
| Loan type | Loans | Share |
|---|---|---|
| Conventional | 134 | 100% |
Included above: 4 loans on manufactured homes.
Where the loans were made
Counties with the most 2025 originations, out of 10 counties with at least one; 99% of its 2025 loans were for properties in Florida:
- Bay County, FL (90)
- Washington County, FL (20)
- Jackson County, FL (8)
- Walton County, FL (6)
- Holmes County, FL (4)
Filed under LEI 5493002P2P2WON3W9P39 as “Innovations Financial Credit Union”; matched by its RSSD ID on the CDFI Fund list, which the HMDA reporter panel links to this LEI.
Source: FFIEC Home Mortgage Disclosure Act (HMDA) data for 2025, snapshot frozen 2 Jun 2026, loan-level records read through the CFPB HMDA Data Browser API on 3 Nov 2026. Originated loans only; applications that were denied, withdrawn or not accepted are not counted. HMDA publishes each loan amount as the middle of a $10,000 band, so totals and medians are approximate. Counts under 3 are not shown. How we match lenders.
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Total assets (Call Report, 30 Jun 2026) | $696.1 million | Larger than 63% of the 19 other certified credit unions in Florida (median $379.2 million). |
| Loans as a share of assets | 78% | Median of the same 19 credit unions: 74%. A higher share means more of its balance sheet is lent out. |
| Loans held, 30 Jun 2025 → 30 Jun 2026 | $485.6 million → $542.2 million (+12%) | Median change of 19 other certified credit unions in Florida: +7%. Rank by loans held among these 20: 8 → 7. |
| Home loans originated in 2025 (HMDA) | 134 | More than 56% of the 263 other certified CDFIs that reported 3 or more (119 at the median). Volume only; nothing here is an approval rate. |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Call Report total assets | other certified credit unions in Florida | 19 | larger than 63% |
| Loans held then vs now | certified credit unions in Florida reporting both dates | 19 | rank 8 → 7 of 20 |
| HMDA home loans | certified CDFIs with 3+ originations in 2025, nationwide | 263 | more than 56% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered. Peer groups and sources: methodology. Assets and loans: FFIEC and NCUA Call Reports (see the loan-mix section). Home loans: FFIEC/CFPB HMDA data.
SBA loans approved
SBA data as of 30 Sep 2026The SBA's public loan data lists 4 SBA-backed approvals for Innovations Financial Credit Union in fiscal years 2020–2026 (October 2019 to September 2026):
- 4 504 projects as the third-party (first-lien) lender: $1.4M in total (its own third-party loan amount), median $311,650
By fiscal year: FY2020 2 · FY2021 1 · FY2022 1 · FY2023 0 · FY2024 0 · FY2025 0 · FY2026 0.
By program
- 504 projects (as the third-party lender) (4, 100%)
How this lender was matched in the SBA files: 504 third-party lender name: same organisation by name and state, checked by hand (SBA lists “Innovations Financial Credit Union”).
Approved is not the same as paid out: an approved loan can be reduced or never drawn. SBA lists the lender each loan is currently assigned to, which can differ after a merger or loan sale. Innovations Financial Credit Union may also make loans outside SBA programs, which are not counted here, and SBA Microloans are not in these files. For 504 projects, the CDC amount is the SBA-backed portion and the third-party lender amount is that lender's own first-lien loan.
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data, files as of 30 Sep 2026, downloaded 3 Nov 2026. Our counts, cancelled approvals left out. How we match lenders.
Other certified CDFIs in Panama City and Florida
- Hello Credit UnionCredit union · Panama City, FLAuto / vehicle loans, Small-dollar / emergency loans, Equipment loans, Home mortgages…Verified
- BAC Funding Consortium, Inc.Loan fund · Miami, FLCommercial real estate loans, Equipment loans, Equity / venture investment, Small-business loansVerified
- BBIF Capital, Inc.Loan fund · Orlando, FLCommercial real estate loans, Microloans, Small-business loansVerified
- BLACK ECONOMIC DEVELOPMENT COALITION, INC.Loan fund · Miami, FLMicroloans, Small-business loansVerified
- Blue Coast Federal Credit UnionCredit union · Perry, FLAgriculture / farm loans, Auto / vehicle loans, Home repair / improvement loans, Personal / consumer loans…Verified
- Calhoun Liberty Credit UnionCredit union · Blountstown, FLAuto / vehicle loans, Credit-builder loans, Home mortgages, Personal / consumer loansVerified
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