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First Federal Lakewood


Overview / Commentary
www.ffl.net
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 451st largest bank in the nation. It was established in 1935 and as of December of 2019, it had grown to 401 employees at 20 locations. First Federal Lakewood's CD rates are 40% higher than the national average, and it has an A health rating.

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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.

4

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 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #29488
Year Established1935
Employees401
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.34%
Return on Equity - YTD3.22%
Annual Interest Income$67.3MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.92B$1.96B
LoansQ4 2019vs Q4 2018$1.64B$1.66B
DepositsQ4 2019vs Q4 2018$1.56B$1.61B
Equity CapitalQ4 2019vs Q4 2018$206.6MM$197.7MM
Loan Loss AllowanceQ4 2019vs Q4 2018$6.9MM$7.0MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$3.9MM$4.9MM
Real Estate OwnedQ4 2019vs Q4 2018$0$0
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

First Federal Lakewood Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$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
1.86%$500-5 Year CD
1.86%$500-Business 5 Year CD
1.76%$500-4 Year CD
1.76%$500-Business 4 Year CD
1.66%$500-3 Year CD
1.66%$500-Business 3 Year CD
1.51%$500-2 Year CD
1.51%$500-Business 2 Year CD
1.41%$500-Jump Rate CD
1.41%$500-Business Jump Rate CD
1.36%$500-18 Month CD
1.36%$500-Business 18 Month CD
1.26%$500-1 Year CD
1.26%$500-Business 1 Year CD
1.00%$500-9 Month CD
1.00%$500-Business 9 Month CD
0.75%$500-6 Month CD
0.75%$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
0.10%$500-3 Month CD
0.10%$500-Business 3 Month CD
Locations

Availability



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.