Mission
TO PROVIDE FINANCIAL AND LENDING SERVICES TO INDIVIDUALS AND BUSINESSES LOCATED WITHIN THE COUNTIES OF BAY, HOLMES, WASHINGTON, JACKSON, CALHOUN, GULF, WALTON, OKALOOSA, FRANKLIN & LIBERTY LOCATED IN THE STATE OF FLORIDA.
Public Charity
INNOVATIONS FINANCIAL CREDIT UNION
INNOVATIONS FINANCIAL CREDIT UNION is a nonprofit organization categorized as Public Charity based in PANAMA CITY, FL. Its most recent IRS filing (2024) reports revenue of $35.3M, expenses of $32.8M, total assets of $615.0M.
EIN: 590706843
PANAMA CITY, FL
Credit Unions
NTEE: W61
Latest filing: 2024
Total Revenue$35.3M
Total Expenses$32.8M
Total Assets$615.0M
Grant Records0
Filing Years2022–2024
Where $100 goes at Innovations Financial Credit Union
How Innovations Financial Credit Union divides every $100 it spends, from its own Form 990 filings, averaged across 3 years.
$100
Programs
the work itself
<$1
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $100 for programs
$50
Provide 26,310 members with regular savings, share drafts, certificates of deposit, ira, and money market accounts with aggregate deposit balances that approximated $554,884,000 as of december 31, 2024
$50
Provide 16,356 loans including mortgages, business, home equity, credit cards, share secured, vehicle, and line of credit loans with aggregate loan balances that approximated $448,771,000 as of december…
Source: Form 990 filings with the IRS, latest fiscal year 2024. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Officers & Directors
DIRECTOR PROJECTS
Angelia Burnett
BOARD DIRECTOR
Anita Borughton
DIRECTOR BUSINESS & MORTGAGE LENDING
Charles Powell
BOARD CHAIR
Craig Ellis
DIRECTOR OPERATIONS/LENDING/COLLECTIONS/FACILITIES
Daniel Chaplik
PRESIDENT/CEO
David Southall
Officer compensation and complete director data available with membership.
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2024 | $35.3M | $32.8M | $615.0M |
| 2023 | $26.7M | $22.3M | $428.4M |
| 2022 | $22.5M | $15.9M | $367.6M |
Between 2022 and 2024, reported annual revenue grew from $22.5M to $35.3M (+57%), with total assets most recently reported at $615.0M.
Interactive year-over-year charts and full filing details available with membership.