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First Federal Lakewood

Deposits held and insured by First Mutual Bank (WV)

Overview / Commentary
www.ffl.net
216-529-2700
14806 Detroit Ave
Lakewood, OH 44107
Deposits held and insured by First Mutual Bank (WV)

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Reviews (2)

Great Money Market Rates Off And On

Posted by: |

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.

5

Very low limit on daily ATM transactions

Posted by: |

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.

3


Health
A+

Data as of Q4 2021

Data displayed below is for insuring bank: First Mutual Bank (WV)
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #29488
Year Established1935
Employees410
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.62%
Return on Equity - YTD6.11%
Annual Interest Income$60.3MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$2.22B$2.21B
LoansQ4 2021vs Q4 2020$1.70B$1.66B
DepositsQ4 2021vs Q4 2020$1.79B$1.69B
Equity CapitalQ4 2021vs Q4 2020$224.2MM$224.9MM
Loan Loss AllowanceQ4 2021vs Q4 2020$15.8MM$9.6MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$2.3MM$3.1MM
Real Estate OwnedQ4 2021vs Q4 2020$0$394.00K
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
0.20%*$25k*-Statement Savings Account
OTHER TIERS: 0.05% → Up to $15k | 0.15% → $15k - $25k
0.20%*$5k*-Health Savings Account
OTHER TIERS: 0.10% → Up to $2.5k | 0.15% → $2.5k - $5k
0.20%*$5k*-Business Health Savings Account
OTHER TIERS: 0.10% → $50 - $2.5k | 0.15% → $2.5k - $5k

First Federal Lakewood Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$100k*-Select Money Market Account
OTHER TIERS: 0.05% → Up to $25k | 0.20% → $25k - $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
1.51%$500-36 Month CD Special - New Money
1.51%$500-Business 36 Month CD Special - New Money
1.00%$500-13 Month CD Special - New Money
1.00%$500-Business 13 Month CD Special - New Money
0.50%$500-5 Year CD
0.50%$500-Business 5 Year CD
0.45%$500-4 Year CD
0.45%$500-Business 4 Year CD
0.40%$500-3 Year CD
0.40%$500-Business 3 Year CD
0.35%$500-2 Year CD
0.35%$500-Business 2 Year CD
0.30%$500-1 Year CD
0.30%$500-18 Month CD
0.30%$500-Business 1 Year CD
0.30%$500-Business 18 Month CD
0.25%$500-27 Month Jump Rate CD
0.25%$500-Business 27 Month Jump Rate CD
0.20%$250-6 Month Direct Save CD
0.20%$500-9 Month CD
0.20%$500-Business 9 Month CD
0.15%$500-6 Month CD
0.15%$100k-270 Day Jumbo Renewal CD
0.15%$100k-365 Day Jumbo Renewal CD
0.15%$100k-270 Day Jumbo CD
0.15%$100k-365 Day Jumbo CD
0.15%$500-Business 6 Month CD
0.15%$100k-Business 270 Day Jumbo CD
0.15%$100k-Business 270 Day Jumbo Renewal CD
0.15%$100k-Business 365 Day Jumbo CD
0.15%$100k-Business 365 Day Jumbo Renewal CD
0.10%$500-3 Month CD
0.10%$100k-180 Day Jumbo Renewal CD
0.10%$100k-180 Day Jumbo CD
0.10%$500-Business 3 Month CD
0.10%$100k-Business 180 Day Jumbo CD
0.10%$100k-Business 180 Day Jumbo Renewal CD
0.05%$100k-30 Day Jumbo Renewal CD
0.05%$100k-60 Day Jumbo Renewal CD
0.05%$100k-90 Day Jumbo Renewal CD
0.05%$100k-30 Day Jumbo CD
0.05%$100k-60 Day Jumbo CD
0.05%$100k-90 Day Jumbo CD
0.05%$100k-Business 30 Day Jumbo CD
0.05%$100k-Business 30 Day Jumbo Renewal CD
0.05%$100k-Business 60 Day Jumbo CD
0.05%$100k-Business 60 Day Jumbo Renewal CD
0.05%$100k-Business 90 Day Jumbo CD
0.05%$100k-Business 90 Day Jumbo Renewal CD
Locations

Availability

Cleveland Area

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