First Federal Lakewood

Overview / Commentary
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 450th largest bank in the nation. It was established in 1935 and as of September of 2019, it had grown to 385 employees at 19 locations. First Federal Lakewood's CD rates are 68% higher than the national average, and it boasts 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

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Reviews (2)

Great Money Market Rates Off And On

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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 Grade Components

FDIC Certificate #29488
Year Established1935
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.3%
Return on Equity - YTD2.9%
Annual Interest Income$51.0MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$1.92B$1.91B
LoansQ3 2019vs Q3 2018$1.65B$1.63B
DepositsQ3 2019vs Q3 2018$1.62B$1.48B
Equity CapitalQ3 2019vs Q3 2018$204.7MM$186.9MM
Loan Loss AllowanceQ3 2019vs Q3 2018$7.0MM$6.8MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$3.9MM$4.3MM
Real Estate OwnedQ3 2019vs Q3 2018$0$108.00K
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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

0.20%*$25k*-Statement Savings Account
OTHER TIERS: 0.05% Up to $15k | 0.15% $15k - $25k

First Federal Lakewood Money Market Rates

0.40%*$100k*-Select Money Market Account
OTHER TIERS: 0.05% Up to $25k | 0.20% $25k - $100k

First Federal Lakewood Checking Account Rates

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

1.88%$500-5 Year CD
1.88%$500-Business 5 Year CD
1.83%$500-4 Year CD
1.83%$500-Business 4 Year CD
1.81%$500-3 Year CD
1.81%$500-Business 3 Year CD
1.76%$500-2 Year CD
1.76%$500-Business 2 Year CD
1.66%$500-Jump Rate CD
1.66%$500-18 Month CD
1.66%$500-Business 18 Month CD
1.66%$500-Business Jump Rate CD
1.51%$500-1 Year CD
1.51%$500-Business 1 Year CD
1.25%$500-6 Month CD
1.25%$500-Business 6 Month CD
0.65%$100k-270 Day Jumbo CD
0.65%$100k-Business 270 Day Jumbo CD
0.50%$250-Direct Save CD
0.50%$250-Business Direct Save CD
0.45%$100k-365 Day Jumbo CD
0.45%$100k-Business 365 Day Jumbo CD
0.30%$100k-180 Day Jumbo CD
0.30%$100k-Business 180 Day Jumbo CD
0.25%$100k-30 Day Jumbo CD
0.25%$100k-Business 30 Day Jumbo 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 90 Day Jumbo CD
0.15%$500-9 Month CD
0.15%$500-Business 9 Month CD
0.10%$500-3 Month CD
0.10%$500-Business 3 Month CD


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