Overview / Commentary
14806 Detroit Ave
Lakewood, OH 44107

First Federal Lakewood is headquartered in Lakewood and is the 17th largest bank in the state of Ohio. It is also the 433rd largest bank in the nation. It was established in 1935 and as of September of 2018, it had grown to 425 employees at 18 locations. First Federal Lakewood's CD rates are 78% higher than the national average, and it has an A health rating.

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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 Grade Components

FDIC Certificate #29488
Year Established1935
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.29%
Return on Equity - YTD2.89%
Annual Interest Income$47.0MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$1.91B$1.77B
LoansQ3 2018vs Q3 2017$1.63B$1.47B
DepositsQ3 2018vs Q3 2017$1.48B$1.35B
Equity CapitalQ3 2018vs Q3 2017$186.9MM$175.6MM
Loan Loss AllowanceQ3 2018vs Q3 2017$6.8MM$7.2MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$4.3MM$6.8MM
Real Estate OwnedQ3 2018vs Q3 2017$108.00K$511.00K
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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

0.25%*$25k*-Statement Savings Account
OTHER TIERS: 0.05% Up to $9k | 0.10% $9k - $15k | 0.15% $15k - $25k
0.25%*$50k*-Passbook Savings Account
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.15% $25k - $50k
0.25%*$50k*-Christmas Club Account
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.15% $25k - $50k

First Federal Lakewood Money Market Rates

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

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

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


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