4 star ratingAverage User Rating:
4 star rating based on 1 review.

Firelands Credit Union

Firelands Credit Union Locations
P.O. Box 8005
Bellevue, OH 44811
419-483-4180
www.firelandsfcu.org

Firelands Credit Union is headquartered in Bellevue and is the 25th largest credit union in the state of Ohio. It is also the 862nd largest credit union in the nation. It was established in 1957 and as of December of 2011, it had grown to 73 employees and 26,506 members. Firelands Credit Union's savings rates are 10X the national average, and it boasts a 5-star health rating.



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See Rates for: Checking | Savings | Money Market | CD | IRA

Firelands Credit Union Checking Account Rates

ApyMinMaxProduct
0.40%--Elite Checking Account
0.20%$50k-Interest Checking Account

Firelands Credit Union Savings Account Rates

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5.00%--Round Up Savings Account
0.40%$25k-IRA Share Account
0.30%$2,500-Christmas Club Plus+ Account
0.10%$100-Prime Share Account
0.10%$100-Business Prime Share Account
0.10%$100-All other Share Accounts
0.10%$100-Escrow Share Account
0.10%$100-Christmas Club Account
0.10%--Kids Savings Account
0.10%--Teen Club Account

Firelands Credit Union Money Market Rates

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0.35%$50k-Insured Money Management Account

Firelands Credit Union CD Rates

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1.20%$500-60 Month Share Certificate
0.90%$500-48 Month Share Certificate
0.70%$500-36 Month Share Certificate
0.50%$500-12 Month Smart Saver Youth Share Certificate - Age 0 - 12
0.50%$1k-12 Month Smart Saver Youth Share Certificate - Age 13 - 18
0.45%$500-30 Month Share Certificate
0.30%$500-24 Month Share Certificate
0.30%$100-24 Month Kid's & Teen Club Share Certificate
0.20%$500-18 Month Share Certificate
0.15%$500-12 Month Share Certificate
0.15%$100-12 Month Kid's & Teen Club Share Certificate

Firelands Credit Union IRA Rates

ApyMinMaxProduct
1.20%$500-60 Month IRA Share Certificate
1.20%$500-60 Month Roth IRA Share Certificate
1.20%$500-60 Month CESA Share Certificate
0.90%$500-48 Month IRA Share Certificate
0.90%$500-48 Month Roth IRA Share Certificate
0.90%$500-48 Month CESA Share Certificate
0.70%$500-36 Month IRA Share Certificate
0.70%$500-36 Month Roth IRA Share Certificate
0.70%$500-36 Month CESA Share Certificate
0.45%$500-30 Month IRA Share Certificate
0.45%$500-30 Month Roth IRA Share Certificate
0.45%$500-30 Month CESA Share Certificate
0.30%$500-24 Month IRA Share Certificate
0.30%$500-24 Month Roth IRA Share Certificate
0.30%$500-24 Month CESA Share Certificate
0.20%$500-18 Month IRA Share Certificate
0.20%$500-18 Month Roth IRA Share Certificate
0.20%$500-18 Month CESA Share Certificate
0.15%$500-12 Month IRA Share Certificate
0.15%$500-12 Month Roth IRA Share Certificate
0.15%$500-12 Month CESA Share Certificate

Rates updated: 5/25/2012

Data for Q4 2011


Institution Statistics


FIRELANDS
NCUA #11674
BankRate ReportView
Year Chartered1957
Employees73
Primary Regulator

Assets and Liabilities

Assets$198.51 million
Loans$136.51 million
Deposits$176.38 million
Equity Capital$19.66 million
Loan Loss Allowance$1.45 million
Unbacked Noncurrent Loans$1.50 million
Real Estate Owned$65,000

Historic Data - December 2010

Assets$186.90 million
Equity Capital$17.93 million
Loan Loss Allowance$1.60 million
Unbacked Noncurrent Loans$1.21 million
Real Estate Owned$56,000

Profit Margin - Quarterly

Net Interest Margin5.52%
Return on Assets0.58%
Return on Equity5.88%
Interest Income$9.47 million
Non-Interest Income$3.03 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2011 Firelands Credit Union had $1.56 million in non-current loans and owned real-estate with $21.11 million in equity and loan loss allowances on hand to cover it. This gives Firelands Credit Union a Texas Ratio of 7.39% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Firelands Credit Union held steady from 6.48% as of December 31, 2010 to 7.39% as of December 31, 2011, resulting in a negative change of 14.03%. This indicates that the balance sheet and financial strength for Firelands Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, Firelands Credit Union has increased its total deposits by $11.59 million, resulting in 7.03% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Firelands Credit Union has shown is excellent.
Capitalization4
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Firelands Credit Union has $198.51 million in assets with $21.11 million in equity, resulting in a capitalization level of 10.64%, which is above average.
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Great Credit Union.
4 stars - Bishoploz - Thursday, March 10, 2011 - 4:43 AM

I have been a member of Fireland's Federal Credit Union since 1999. It has been, and continues to be, the best banking institution I have ever used. There are no crazy hidden fees, and they have free checking. I have never had anyone be rude to me. Everyone there is happy and helpful when I go inside. Even when I am at the drive thru, they are helpful and considerate.

They offer online banking that is simple and easy to use. I now do all my banking online because they make it so easy and time saving to do so. There site is secure and I have no worries about my information get stolen and used against me.

All in all I am positive that I will be staying a member of Fireland's Federal Credit Union for the rest of my life. I don't see me being happy anywhere else.

The Credit Union is located at a fairly easy place to get to. Traffic is not congested there, and the drive thru has 5 lanes. Most banks I've seen only have 4 lanes or less. FFCU has 5 and they are all open all day long. So there is no 30 minute wait in line like at other institutions.

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