First Federal Lakewood


Overview / Commentary
216-529-2682
14806 Detroit Ave
Lakewood, OH 44107

First Federal Lakewood is headquartered in Lakewood and is the 16th largest bank in the state of Ohio. It is also the 438th largest bank in the nation. It was established in 1935 and as of June of 2019, it had grown to 390 employees at 18 locations. First Federal Lakewood's CD rates are 78% higher than the national average, and it has an A health rating.

Related Posts

First Federal Lakewood (OH) Has Money Market Promo Rate, 2.68% APY - 3/9/2019

First Federal Lakewood (OH) is offering a promotional 2.68% APY on its Select Money Market, guaranteed for one year. Minimum deposit is $25k of new money.

2.68% APY MMA - 3/4/2019

2.68% APY* Money Market Account Receive 2.68% APY for the first 12 months on a new personal or business Money Market Account. *The promotional Annual Percentage Yield (APY=2.68%) is accurate as of 02/19/19. Minimum balance to open is $25,000. Deposit limited to $1,000,000 per household. A minimum average daily balance of $25,000 is required to earn the promotional APY and avoid a $15 monthly service fee. The promotional APY is locked for 365 days. After 365 days, the variable interest rate is subject to change and will be determined by the interest rate being offered on the Select Money Market Account. The Select Money Market account tiered APY in effect as of 02/19/19 are as follows: .01- $9,999.99 the APY is 0.05%; $10,000-$24,999.99 the APY is 0.15%; $25,000-$49,999.99 the APY is 0.25%; $50,000-$99,999.99 the APY is 0.35%; $100,000 or more the APY is 0.45%. If the account is closed before the 365 days, a $50 fee may be assessed. No more than a total of 6 preauthorized, telephone, AC

First Federal Lakewood (OH) Adds Select Money Market - 10/15/2018

First Federal Lakewood (northeast Ohio) has added a Select Money Market Account (2.25% APY). Rate guaranteed for 1 year. Minimum opening deposit is $10k of new money.

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Reviews (2)

Great Money Market Rates Off And On

Posted by: aremesbo | Jan 21, 2019

First Federal Lakewood has always offered good service in its branches, but not great deposit rates -- BUT, in the past couple years they have beaten national competition with their money market rates off and on, with rates guaranteed for a year. Most recent was 2.5% guaranteed, which has since disappeared -- but if you catch them at the right moment, they are as good as anyone else in the country. Keep checking back with them.

Very low limit on daily ATM transactions

This bank has mostly met my needs. The mobile experience is surprisingly good for a small, local bank. I do, however, dislike the low amount that you can withdraw from ATMs each day. You can only withdraw $200 a day, which has been an inconvenience to me many times.



Health

Health Grade Components

Overall
FDIC Certificate #29488
Year Established1935
Employees390
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.29%
Return on Equity - YTD2.8%
Annual Interest Income$34.4MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$1.92B$1.91B
LoansQ2 2019vs Q2 2018$1.65B$1.61B
DepositsQ2 2019vs Q2 2018$1.62B$1.48B
Equity CapitalQ2 2019vs Q2 2018$203.5MM$185.9MM
Loan Loss AllowanceQ2 2019vs Q2 2018$6.7MM$6.9MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$4.2MM$4.3MM
Real Estate OwnedQ2 2019vs Q2 2018$78.00K$81.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not First Federal Lakewood; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Federal Lakewood Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$25k*-Statement Savings Account
OTHER TIERS: 0.05% Up to $9k | 0.10% $9k - $15k | 0.15% $15k - $25k

First Federal Lakewood Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%*$100k*-Select Money Market Account
OTHER TIERS: 0.05% Up to $10k | 0.15% $10k - $25k | 0.25% $25k - $50k | 0.35% $50k - $100k

First Federal Lakewood Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$1.5k*-Preferred Interest Checking Account
OTHER TIERS: 0.05% $1 - $1.5k
0.05%$50-Direct Interest Checking Account
0.05%$50-Advantage50 Checking Account

First Federal Lakewood CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.42%$500-5 Year CD
2.42%$500-Business 5 Year CD
2.27%$500-4 Year CD
2.27%$500-Business 4 Year CD
2.22%$500-2 Year CD
2.22%$500-Business 2 Year CD
2.12%$500-Jump Rate CD
2.12%$500-Business Jump Rate CD
1.96%$500-3 Year CD
1.96%$500-Business 3 Year CD
1.65%$500-18 Month CD
1.65%$500-Business 18 Month CD
1.60%$500-1 Year CD
1.60%$500-Business 1 Year CD
0.65%$100k-270 Day Jumbo Renewal CD
0.65%$100k-270 Day Jumbo CD
0.65%$100k-Business 270 Day Jumbo CD
0.65%$100k-Business 270 Day Jumbo Renewal CD
0.50%$250-Direct Save CD
0.50%$250-Business Direct Save CD
0.45%$100k-365 Day Jumbo Renewal CD
0.45%$100k-365 Day Jumbo CD
0.45%$100k-Business 365 Day Jumbo CD
0.45%$100k-Business 365 Day Jumbo Renewal CD
0.30%$100k-180 Day Jumbo Renewal CD
0.30%$100k-180 Day Jumbo CD
0.30%$100k-Business 180 Day Jumbo CD
0.30%$100k-Business 180 Day Jumbo Renewal CD
0.25%$100k-30 Day Jumbo Renewal CD
0.25%$100k-30 Day Jumbo CD
0.25%$100k-Business 30 Day Jumbo CD
0.25%$100k-Business 30 Day Jumbo Renewal CD
0.20%$100k-60 Day Jumbo Renewal CD
0.20%$100k-90 Day Jumbo Renewal CD
0.20%$100k-60 Day Jumbo CD
0.20%$100k-90 Day Jumbo CD
0.20%$100k-Business 60 Day Jumbo CD
0.20%$100k-Business 60 Day Jumbo Renewal CD
0.20%$100k-Business 90 Day Jumbo CD
0.20%$100k-Business 90 Day Jumbo Renewal CD
0.15%$500-9 Month CD
0.15%$500-Business 9 Month CD
0.10%$500-3 Month CD
0.10%$500-6 Month CD
0.10%$500-Business 3 Month CD
0.10%$500-Business 6 Month CD
Locations

Availability



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