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First Federal Savings of Lorain


Overview / Commentary
www.fflorain.bank
440-282-6188
3721 Oberlin Avenue
Lorain, OH 44053-2761

First Federal Savings of Lorain is headquartered in Lorain and is the 52nd largest bank in the state of Ohio. It is also the 1,753rd largest bank in the nation. It was established in 1921 and as of September of 2020, it had grown to 94 employees at 7 locations. First Federal Savings of Lorain has an A health rating.

Reviews (2)

Hides The Facts

Posted by: |

I have never gotten a statement from this bank, so keeping track of my savings account could only be accomplished if I went into the bank. I did not realize that they had started taking $5.00 a month service charge from my savings for over a year.....for what reason I do not know. When asked why I was not notified, they said because they did not have my current address. I have had my current address since 2012. According to my passbook, I was in their bank in 2016. You would have thought that they could have said, your mail is being returned to us. They said there mail is marked to not be forwarded. Basically, they stole my money without any notification. I had over $5000.00 in the account. Other banks that charge a fee, which are few, charge from $2.00-$3.00

3

Not Recommended

Posted by: |

We have not been happy with this bank from the get go. The people they have working for them have no idea what they are doing and have wasted so much of our time. The requested information that was sent to them over and over again because they lost the paperwork and had a horrible attitude. We went in to pay off the loan because we were so unhappy with their services and the teller asked for help from the bank manager who had a very rude attitude. She didn't want to help and didn't offer us to have a seat while she got the correct payoff, she just left us standing at the teller window. Wouldn't you think if someone came in to your bank to pay off a large loan you would be more courteous to them?! Very poor customer service and would never recommend this bank to anyone for anything!!!!!

1


Health
A

Data as of Q3 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #29838
Year Established1921
Employees94
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.13%
Return on Equity - YTD0.87%
Annual Interest Income$10.1MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$458.1MM$440.8MM
LoansQ3 2020vs Q3 2019$312.4MM$269.6MM
DepositsQ3 2020vs Q3 2019$362.6MM$333.8MM
Equity CapitalQ3 2020vs Q3 2019$65.7MM$65.9MM
Loan Loss AllowanceQ3 2020vs Q3 2019$1.9MM$1.8MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$7.3MM$9.2MM
Real Estate OwnedQ3 2020vs Q3 2019$155.00K$802.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not First Federal Savings of Lorain; 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 Savings of Lorain Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.08%$10-1st E-Advantage
0.08%$1-Student Savings
0.06%$10-Christmas Club Savings
0.04%$10-Statement Savings
0.04%$10-Kids Club Savings
0.02%--Savings IRA

First Federal Savings of Lorain Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.08%*$2.5k*-Insured Money Market Fund
OTHER TIERS: 0.03% → $100 - $2.5k

First Federal Savings of Lorain Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.08%$250-1st Classic Advantage: eStatement
0.03%$100-NOW Checking Account
0.02%$250-1st Classic Advantage: Paper Statement

First Federal Savings of Lorain CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$250-14 Month CD Special
0.30%$250-2.5 Year CD
0.30%$250-3 Year CD
0.30%$250-4 Year CD
0.30%$100k-2+ Year Jumbo CD
0.25%$250-2 Year CD
0.25%$100k-1-2 Year Jumbo CD
0.20%$250-8 Month CD Special
0.15%$250-1.5 Year CD
0.10%$250-1 Year CD
0.10%$100k-271-365 Day Jumbo CD
0.08%$250-182 Day CD
0.08%$100k-90-179 Day Jumbo CD
0.08%$100k-180-270 Day Jumbo CD
0.03%$250-91 Day CD

First Federal Savings of Lorain IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$250-14 Month IRA Special
0.30%$250-2.5 Year IRA
0.30%$250-3 Year IRA
0.30%$250-4 Year IRA
0.30%$100k-2+ Year Jumbo IRA
0.25%$250-2 Year IRA
0.25%$100k-1-2 Year Jumbo IRA
0.20%$250-8 Month IRA Special
0.15%$250-1.5 Year IRA
0.10%$250-1 Year IRA
0.10%$100k-271-365 Day Jumbo IRA
0.08%$250-182 Day IRA
0.08%$100k-90-179 Day Jumbo IRA
0.08%$100k-180-270 Day Jumbo IRA
0.03%$250-91 Day IRA
Locations


First Federal Savings of Lorain Locations
Huron Branch107 Liberty DriveHuron, OH 44839
1180 Park Avenue Branch1180 Park AvenueAmherst, OH 44001
Port Clinton Branch1840 East Perry StreetPort Clinton, OH 43452
Sandusky Branch207 West Washington RowSandusky, OH 44870
2233 East 42nd Street Branch2233 East 42nd StreetLorain, OH 44055
36690 Detroit Road Branch36690 Detroit RoadAvon, OH 44011
First Federal Savings and Loan Association Of Lora3721 Oberlin AvenueLorain, OH 44053

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