Chiphone Federal Credit Union: Elkhart, IN Main Office

Data sources: NCUA and Chiphone FCU

Chiphone Federal Credit Union

Headquarters
710 N Wildwood Avenue
Elkhart, IN 46514
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Contact Chiphone Federal in Elkhart

Phone Number:
(574) 294-3606
Fax:
(574) 295-0294
Mailing Address:
Chiphone FCU
710 N Wildwood Avenue
Elkhart, IN 46514
Website:
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Online Banking:
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Mobile App:
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Chiphone Federal Routing Number:
271290597
Charter Number:
05422
Charter Type:
Federally Chartered and Insured by NCUA
TOM Code:
53
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Chiphone Federal in Elkhart Hours

This location may not offer business hours to members. Administration offices are often not open to the public. Call (574) 294-3606 to inquire.

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Chiphone Federal Locator

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Welcome to Chiphone - Your Convenience and Financial Well-being Come First

  • Easy Branch Locator: Use our simple search tool to find your nearest credit union branch.
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Embrace the simplicity of managing your finances with Chiphone Federal, your trusted credit union partner at every step.

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Interest Rates

  • Competitive Rates and Low Fees: As a not-for-profit institution, Chiphone offers better rates and lower fees than many for-profit banks.
    Unsecured Credit Card11.90%
    Other Unsecured Loans/Lines of Credit11.33%
    New Vehicle Loans4.85%
    Used Vehicle Loans6.76%

When exploring financial products such as loans or savings accounts, it's crucial to grasp the concepts of Annual Percentage Rate (APR) and Annual Percentage Yield (APY). These metrics serve as benchmarks for evaluating the true cost of borrowing or the potential returns on savings over a year, respectively.

Understanding APR, APY, and the impact of term length empowers individuals to make informed financial decisions, ensuring optimal utilization of financial products and resources to achieve their monetary goals effectively.

The APR represents the total cost of borrowing over a year, expressed as a percentage. It encompasses not only the interest rate but also any additional fees or charges associated with the loan, such as origination fees or points. Essentially, the APR provides a comprehensive view of the borrower's financial obligation, enabling informed comparisons between different loan offers.

For instance, a lower APR signifies a more cost-effective borrowing option, as it indicates lower overall expenses associated with the loan. Therefore, borrowers should prioritize selecting loans with the lowest APR to minimize the financial burden and maximize savings in the long run.

On the flip side, the APY pertains to the potential earnings from savings or investment accounts over a year, also expressed as a percentage. Unlike APR, which reflects the borrower's costs, APY illustrates the growth potential of savings by factoring in compound interest, which refers to earning interest on both the initial principal and accumulated interest.

For savers, a higher APY translates to greater returns on their deposited funds, facilitating wealth accumulation and financial goals achievement. Hence, individuals seeking to optimize their savings should seek accounts offering competitive APY rates to maximize their earning potential and capitalize on the power of compound interest.

When contemplating loans, the term length plays a pivotal role in determining the monthly payments and overall affordability. The term length refers to the duration within which the borrower commits to repaying the loan in full, typically expressed in months.

Shorter loan terms often entail higher monthly payments but result in lower total interest expenses over the loan's lifespan. Conversely, longer loan terms yield lower monthly payments but may lead to higher overall interest costs due to prolonged repayment periods.

It's imperative for borrowers to strike a balance between monthly affordability and long-term financial implications when selecting a loan term. By carefully evaluating their budgetary constraints and financial objectives, borrowers can opt for the most suitable term length that aligns with their repayment capacity while minimizing the total cost of borrowing.
Data Source: NCUA - Retrieved April 12, 2024

Community Q&A

Community Q&A for Chiphone Federal Credit Union, Elkhart, IN

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Seeking detailed insights about Chiphone Federal Credit Union in Elkhart, IN (710 N Wildwood Avenue)? You've arrived at the right place! Our Community Q&A section is a treasure trove of information, where members and visitors alike share their experiences, ask questions, and get answers about everything from branch-specific services, account opening procedures, to loan options and financial advice. Whether you're considering joining the credit union family or you're an existing member looking for tips, this interactive platform is designed to help you navigate your financial journey with ease.

Dive into a world of knowledge below and get all your queries answered. Don't see your question? Feel free to ask, and let our community guide you. Together, we're making financial management simpler and more accessible for everyone.

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Chiphone Federal Credit Union in Elkhart Reviews

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At Chiphone Federal Credit Union, your voice matters. Your insights and experiences at branches drive Chiphone to continuously improve and tailor services to meet your needs better.

If you've recently visited the Main Office location, please leave a review. Your feedback not only helps but also guides fellow members in making informed decisions about their banking choices.

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Chiphone Downtime Service Status

Find the status of online banking, mobile app, and the Main Office location at 710 N Wildwood Avenue. Report outages you're experiencing, including login issues and traditional services like ATM or telephone.

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Main Office Service Status

710 N Wildwood Avenue Elkhart, Indiana 46514
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Membership Eligibility

Who Can Join Chiphone Federal Credit Union?

Chiphone primarily serves multiple organizations in the communications and utilities industries, providing financial services designed to meet the specific needs of employees in these sectors. The TOM Code for the credit union is 53 (Multiple common bond - primarily communications and utilities). Membership is also open to immediate family of current members.

  • Current Number of Regular Savings Accounts: 11,660
  • Current Number of Share Draft Accounts: 5,796
  • Current Number of Money Markey Accounts: 430
  • Current Number of Share Certificates (CDs): 487

Frequently Asked Questions

To log into online banking for Chiphone Federal Credit Union, visit the website and click on the "Online Banking" or "Login" button, typically located at the top right corner.

If you haven't registered for online access yet, look for a "Register" or "Sign Up" option available on the same page.

Available Services

  • Bill Payment
  • e-Statements
  • Electronic Signature Authentication/Certification
  • Remote Deposit Capture

To access your account through online banking, visit the Chiphone Federal Credit Union login page.

Yes, Chiphone Federal Credit Union offers a mobile app for both iOS and Android devices. You can download it from the App Store or Google Play Store by searching for "Chiphone Federal Credit Union Mobile Banking"

Yes, Chiphone Federal Credit Union provides a variety of mortgage options to fit your needs. Visit the "Mortgages" page on the credit union's website or contact for more details.

  • Fixed Rate Mortgages > 15 Years
  • Fixed Rate Mortgages 15 Years or Less
  • Balloon/Hybrid Mortgages > 5 Years

Estimate mortgage payments with our Mortgage Calculator.

Yes, members can pay bills online. Start on the website.

For personal assistance, you can reach the credit union through their website or by calling phone number (574) 294-3606.

Chiphone Credit Union routing number is 271290597.

Financial Snapshot Q4 2023

  • Total Assets $111,231,904
  • Total Liabilities $94,240,543
  • Total Equity $16,991,361
  • Total Liabilities, Shares, & Equity $111,231,904
  • Net Income (Loss) $697,300
Q4 2023 Financial Summary Loans Insights Mortgages Insights
Source: NCUA - .

Background

Chiphone Federal Credit Union headquarters is in Elkhart, Indiana has been serving members since 1947, with 7 branches and 6 ATMs.

The Main Office is located at 710 N Wildwood Avenue, Elkhart, Indiana 46514. Contact Chiphone at (574) 294-3606.

Access Chiphone Federal Login, hours, phone, financials, and additional member resources.

Chiphone FCU - Elkhart, IN Map

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Overview

Established in 1947, Chiphone Federal Credit Union proudly calls Elkhart, Indiana home. For over 77 years, Chiphone FCU has been a trusted financial partner, boasting a network of 7 branches and 6 ATMs across the country.

Chiphone Federal Credit Union stewards over $111.23 Million in assets and proudly serves over 9,000 loyal members.

With over 40 dedicated individuals as of April 2024, Chiphone is committed to providing exceptional financial services to its members and the community.

Nearby Chiphone Federal Branches

Elkhart East Branch

661 County Rd 17
Elkhart, IN
Open Today
0.0 miles

Elkhart North Branch

619 E County Rd 6
Elkhart, IN
Open Today
5.0 miles

Elkhart Branch

1655 W Beardsley Ave
Elkhart, IN
Open Today
5.8 miles

Middlebury Branch

403 Crystal Valley Dr
Middlebury, IN
Open Today
9.3 miles
View All Branches

References

Disclaimer: Any modifications to the data or analysis, or interpretation of the data, are provided by Credit Unions Online and not endorsed by Chiphone Federal Credit Union or the NCUA.