Cinfed Federal Credit Union is headquartered in Cincinnati and is the 11th largest credit union in the state of Ohio. It is also the 589th largest credit union in the nation. It was established in 1975 and as of December of 2019, it had grown to 123 employees and 36,926 members at 8 locations. Cinfed Federal Credit Union's money market rates are 2X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Cinfed Credit Union is open to those who in live, work, worship, or regularly conduct business in the Kentucky counties of Boone, Bracken, Gallatin, Grant, Kenton, Pendleton, or Campbell; the Ohio counties of Brown, Butler, Clermont, Dearborn, Hamilton, or Warren; or Union County in Indiana.
See current membership details
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Good online banking
I have been a member of this credit union for years and am very satisfied with their service. I do the vast majority of my banking online and I find their website to be very easy to use and helpful. My only complaint is the few number of locations this credit union has. I wish there was more locations for the few times I need to go to the bank for something I can't do online.
Declining Convenience And Service
CINFED has very reasonable terms and a minimum of fees. When you can reach a staff member, they are generally very helpful. For that reason, I gave an overall rating of 3. However, after more than 25 years, I am moving my banking elsewhere to reduce frustration and inconvenience.
CINFED had previously been a member of the PNC ATM network, which offered numerous transaction opportunities throughout Ohio and other states plus DC. Many were drive-through and most (if not all) permitted deposits to be made as well as cash withdrawals. Recently, CINFED moved to the Allpoint network. None of the ATMs in that network that I've found permitted deposits and none were drive-through. Instead, I would have to go to a gas station, restaurant, drugstore, etc. that meant an extra stop in my day.
Additionally, all recent calls to CINFED involved inordinate wait times. You can save your place in line by leaving your number and get a callback but that generally has been more than 30 minutes later and only works if you are doing nothing else at the time.
I also do not find their monthly statements to be user friendly. The format includes extraneous information with online payments that makes finding things more difficult than need be.
If you work at a location that has a CINFED office and do not travel much, this might be a good choice for you. However, retirees and people whose whole family use CINFED may find their current method of operation too limiting.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 21930 |
| Year Chartered | 1975 |
| Employees | 123 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.12% |
| Return on Equity - YTD | 9.82% |
| Annual Interest Income | $20.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $498.5MM$456.8MM |
| Loans | Q4 2019vs Q4 2018 | $394.3MM$370.6MM |
| Deposits | Q4 2019vs Q4 2018 | $405.5MM$373.4MM |
| Equity Capital | Q4 2019vs Q4 2018 | $56.6MM$50.4MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $3.5MM$3.7MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $2.7MM$3.2MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $0$80.00K |