Lakeview Credit Union is headquartered in Ashtabula and is the 61st largest credit union in the state of Ohio. It is also the 1,610st largest credit union in the nation. It was established in 1961 and as of March of 2014, it had grown to 22 employees and 8,624 members. Lakeview Credit Union has a A health rating.
Field of Membership Restrictions
Must live, work or worship in Ashtabula County, Ohio. - See Details
Good credit union. Online services need updating.
I have been searching for a credit union since I moved to Ashtabula, and heard great things about Lakeview. Sadly, I think they are stuck in the 1990's with their software and services. They do not give me alot of options for mobile or for online. Since I travel, I need to know that I can have full access at any time and I don't think they can do that for me.
Data for Q1 2014
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Lakeview Credit Union had $417,000 in non-current loans and owned real-estate with $10.77 million in equity and loan loss allowances on hand to cover it. This gives Lakeview Credit Union a Texas Ratio of 3.87% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Lakeview Credit Union experienced no significant changes from 2.41% as of March 31, 2013 to 3.87% as of March 31, 2014, resulting in a negative change of 60.71%. This indicates that the balance sheet and financial strength for Lakeview Credit Union has had no significant changes in recent periods.
Deposit Growth
In the past year, Lakeview Credit Union has increased its total deposits by $2.55 million, resulting in 3.28% 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 Lakeview Credit Union has shown is excellent.
Capitalization
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. Lakeview Credit Union has $91.09 million in assets with $10.77 million in equity, resulting in a capitalization level of 11.83%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 14584 |
| Year Chartered | 1961 |
| Employees | 22 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $91.09 million |
| Loans | $49.52 million |
| Deposits | $80.23 million |
| Equity Capital | $10.53 million |
| Loan Loss Allowance | $243,000 |
| Unbacked Noncurrent Loans | $417,000 |
| Real Estate Owned | $0 |
| Historic Data - March 2013 | |
|---|---|
| Assets | $88.05 million |
| Equity Capital | $10.00 million |
| Loan Loss Allowance | $259,000 |
| Unbacked Noncurrent Loans | $417,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 1.07% |
| Return on Assets | 0.39% |
| Return on Equity | 3.34% |
| Interest Income | $640,000 |
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Lakeview Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | - | - | Christmas Club | |
| 0.10% | - | - | Regular Shares | |
| 0.10% | - | - | IRA Club | |
| 0.10% | - | - | Roth IRA Club | |
| 0.10% | - | - | CESA Club |
Lakeview Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.30% | $75k | - | Money Market |
Lakeview Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.10% | $500 | - | 60 Month CD | |
| 0.85% | $500 | - | 48 Month CD | |
| 0.70% | $500 | - | 36 Month CD | |
| 0.50% | $500 | - | 24 Month CD | |
| 0.45% | $500 | - | 18 Month CD | |
| 0.40% | $500 | - | 12 Month CD | |
| 0.35% | $500 | - | 6 Month CD |
Lakeview Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.10% | $500 | - | 60 Month IRA | |
| 0.70% | $500 | - | 36 Month IRA | |
| 0.50% | $500 | - | 24 Month IRA | |
| 0.40% | $500 | - | 12 Month IRA |
| Lakeview Credit Union Locations | ||
|---|---|---|
| Branch Office | 2909 State Rd | Ashtabula, OH 44004 |
| Branch Office | 345 S Chestnut St | Jefferson, OH 44047 |
| Branch Office | 583 S Broadway | Geneva, OH 44041 |