Firelands Credit Union is headquartered in Bellevue and is the 24th largest credit union in the state of Ohio. It is also the 847th largest credit union in the nation. It was established in 1957 and as of December of 2013, it had grown to 83 employees and 27,766 members. Firelands Credit Union's savings rates are 10X the national average, and it has a A health rating.
Must live, work, worship or attend school in Huron County; Groton, Oxford, Milan, Berlin or Florence Township in Erie County; York Township in Sandusky County; Adams, Thompson, Reed or Venice Township in Seneca County or Crawford County. - See Details
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.
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, 2013 Firelands Credit Union had $1.49 million in non-current loans and owned real-estate with $23.11 million in equity and loan loss allowances on hand to cover it. This gives Firelands Credit Union a Texas Ratio of 6.44% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Firelands Credit Union held steady from 6.83% as of December 31, 2012 to 6.44% as of December 31, 2013, resulting in a positive change of 5.79%.This indicates that the balance sheet and financial strength for Firelands Credit Union has held steady in recent periods.
In the past year, Firelands Credit Union has increased its total deposits by $13.57 million, resulting in 7.32% 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.
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 $222.91 million in assets with $23.11 million in equity, resulting in a capitalization level of 10.37%, which is above average.
|Assets and Liabilities|
|Equity Capital||$21.58 million|
|Loan Loss Allowance||$1.53 million|
|Unbacked Noncurrent Loans||$1.37 million|
|Real Estate Owned||$117,000|
|Historic Data - December 2012|
|Equity Capital||$19.54 million|
|Loan Loss Allowance||$1.34 million|
|Unbacked Noncurrent Loans||$1.37 million|
|Real Estate Owned||$99,000|
|Profit Margin - Quarterly|
|Net Interest Margin||5.15%|
|Return on Assets||0.51%|
|Return on Equity||5.24%|
|Interest Income||$9.52 million|
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|5.00%||-||-||Round Up Savings Account - deposit limitations|
|0.30%||$2,500||-||Christmas Club Plus+ Account|
|0.20%||$25k||-||IRA Share Account|
|0.05%||$100||-||Prime Share Account|
|0.05%||$100||-||Business Prime Share Account|
|0.05%||$100||-||All other Share Accounts|
|0.05%||$100||-||Escrow Share Account|
|0.05%||$100||-||Christmas Club Account|
|0.05%||-||-||Kids Savings Account|
|0.05%||-||-||Teen Club Account|
|0.20%||$50k||-||Insured Money Management Account|
|0.20%||-||-||Elite Checking Account|
|0.15%||$50k||-||Interest Checking Account|
|1.40%||$500||-||60 Month Share Certificate|
|1.25%||$500||-||48 Month Share Certificate|
|1.10%||$500||-||36 Month Share Certificate|
|0.95%||$500||-||30 Month Share Certificate|
|0.80%||$500||-||24 Month Share Certificate|
|0.80%||$100||-||24 Month Kid's & Teen Club Share Certificate|
|0.65%||$500||-||18 Month Share Certificate|
|0.50%||$500||-||12 Month Share Certificate|
|0.50%||$100||-||12 Month Kid's & Teen Club 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|
|1.40%||$500||-||60 Month IRA Share Certificate (Traditional,Roth,CESA)|
|1.25%||$500||-||48 Month IRA Share Certificate (Traditional,Roth,CESA)|
|1.10%||$500||-||36 Month IRA Share Certificate (Traditional,Roth,CESA)|
|0.95%||$500||-||30 Month IRA Share Certificate (Traditional,Roth,CESA)|
|0.80%||$500||-||24 Month IRA Share Certificate (Traditional,Roth,CESA)|
|0.65%||$500||-||18 Month IRA Share Certificate (Traditional,Roth,CESA)|
|0.50%||$500||-||12 Month IRA Share Certificate (Traditional,Roth,CESA)|
|Firelands Credit Union Locations|
|Branch Office||169 Ridge St N||Monroeville, OH 44847-9428|
|Branch Office||221 E Main St||Bellevue, OH 44811|
|Branch Office||175 Cleveland Rd||Norwalk, OH 44857|
|Branch Office||419 Harding Way W||Galion, OH 44833|
|Branch Office||346 Milan Ave||Norwalk, OH 44857|
|Branch Office||2100 E Mansfield St||Bucyrus, OH 44820|