Indiana Members Credit Union (IMCU) is a member-owned, not-for-profit financial cooperative and direct mortgage lender headquartered in Indianapolis, Indiana. Founded in 1956 as the Indiana University Medical Center Federal Credit Union, IMCU has grown to become the largest credit union in Central Indiana, with 31 full-service branches and over 160,000 members across Central and Southern Indiana.
See today’s mortgage interest rates on TrueRate.
How Indiana Members Credit Union compares to other lenders
| Headquarters | Indianapolis, Indiana |
| Website | imcu.com |
| Rate | 0.31% less than the median rate |
| Lender fees | $995 (median) |
| Savings after 1 year, compared to the median interest rate | $1,375 |
| Savings after 10 years, compared to the median interest rate | $10,408 |
| Added cost after 1 year (vs. Tomo Mortgage) | $1,202 |
For a $400,000 mortgage, Indiana Members Credit Union’s rates and lender fees will likely result in savings of around $1,375 in the first year and around $10,408 after 10 years compared to the median lender. Borrowers should rate shop and compare IMCU to lower cost lenders, such as Tomo Mortgage, to see if larger savings can be achieved.
What customers are saying
Indiana Members Credit Union’s mortgage lending receives mixed sentiment on third-party platforms. The most substantiated negative feedback appears on Yelp, where multiple reviewers describe the mortgage team as “difficult to work with” and “disingenuous,” citing poor communication and a lack of transparency during the mortgage process. Some BBB complaints reference administrative errors and disputes over loan documentation, with borrowers expressing frustration about resolution efforts and communication breakdowns.
On the positive side, Zillow reviewers highlight a smooth refinance experience and praise specific staff for their kindness and professionalism during mortgage transactions. Birdeye reviews also mention knowledgeable and helpful employees who resolve issues efficiently. Overall, while some borrowers report easy and supportive mortgage experiences, recurring concerns about customer service and communication are common.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.
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