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Overview / Commentary
2051 Cooper Foster Park Rd
Amherst, OH 44001-1208

Lormet Community Credit Union is headquartered in Amherst and is the 40th largest credit union in the state of Ohio. It is also the 1,147th largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 39 employees and 19,213 members. Lormet Community Credit Union has a A health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Lorain County. - See Details

Reviews (1)

They Treat People Right! Always Professional And Well Trained Staff Responds To Questions.

LorMet began in 1936 and had developed into a full service financial institution with 5 locations.  Lormet's board and staff all live in the communities they serve.  They understand professional and timely financial services.  Good credit applicants have car loans approved in minutes.  Nothing but the best here!


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 Lormet Community Credit Union had $217,000 in non-current loans and owned real-estate with $16.31 million in equity and loan loss allowances on hand to cover it. This gives Lormet Community Credit Union a Texas Ratio of 1.33% 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 Lormet Community Credit Union experienced no significant changes from 1.11% as of March 31, 2013 to 1.33% as of March 31, 2014, resulting in a negative change of 19.94%. This indicates that the balance sheet and financial strength for Lormet Community Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Lormet Community Credit Union has increased its total deposits by $1.4 million, resulting in 1.06% 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 Lormet Community Credit Union has shown is above average.



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. Lormet Community Credit Union has $150.87 million in assets with $16.31 million in equity, resulting in a capitalization level of 10.81%, which is above average.

Institution Statistics

NCUA #24637
Year Chartered1936
Primary Regulator
Assets and Liabilities
Assets$150.87 million
Loans$70.95 million
Deposits$133.06 million
Equity Capital$16.12 million
Loan Loss Allowance$184,000
Unbacked Noncurrent Loans$217,000
Real Estate Owned$0
Historic Data - March 2013
Assets$150.14 million
Equity Capital$16.71 million
Loan Loss Allowance$234,000
Unbacked Noncurrent Loans$217,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets-0.58%
Return on Equity-5.38%
Interest Income$725,000
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Lormet Community Credit Union Savings Account Rates

0.10%--Primary Savings
0.10%--Holiday Savings
0.10%--Vision Savings

Lormet Community Credit Union Checking Account Rates

1.00%-$3kEverywhere Checking - Qualifying
0.10%--Everywhere Checking - Non Qualifying

Lormet Community Credit Union CD Rates

0.40%$500-24 Month Share Certificate
0.40%$500-30 Month Share Certificate
0.25%$500-18 Month Share Certificate
0.20%$500-12 Month Share Certificate
0.10%$500-91 Day Share Certificate
0.10%$500-182 Day Share Certificate
0.10%$500-9 Month Share Certificate

Lormet Community Credit Union IRA Rates

0.40%$500-30 Month IRA
0.40%$500-30 Month Roth IRA
0.25%$500-18 Month IRA
0.25%$500-18 Month Roth IRA
0.20%$25-18 Month Variable IRA
0.10%$500-182 Day IRA
0.10%$500-182 Day Roth IRA

Lormet Community Credit Union Locations
Branch Office49 S Main StOberlin, OH 44074
Branch Office216 N Main StWellington, OH 44090
Branch Office2051 Cooper Foster Park RdAmherst, OH 44001-1208
Branch Office1825 E 28th StLorain, OH 44055
Branch Office230 E Broad StElyria, OH 44035-6432