First Federal Savings of Lorain is headquartered in Lorain and is the 50th largest bank in the state of Ohio. It is also the 1,606th largest bank in the nation. It was established in 1921 and as of June of 2019, it had grown to 97 employees at 7 locations. First Federal Savings of Lorain has a B health rating.
Hides The Facts
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
Not Recommended
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!!!!!
Data as of Q2 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 29838 |
| Year Established | 1921 |
| Employees | 97 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.25% |
| Return on Equity - YTD | 1.73% |
| Annual Interest Income | $7.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $443.1MM$423.1MM |
| Loans | Q2 2019vs Q2 2018 | $271.9MM$243.4MM |
| Deposits | Q2 2019vs Q2 2018 | $336.8MM$343.3MM |
| Equity Capital | Q2 2019vs Q2 2018 | $65.3MM$61.9MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $1.8MM$1.8MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $10.5MM$11.1MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $756.00K$771.00K |
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* 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.08% | $10 | - | 1st E-Advantage | |
| 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.08%* | $2.5k* | - | Insured Money Market Fund | ||
| OTHER TIERS: 0.03% → $100 - $2.5k | |||||
First Federal Savings of Lorain Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
First Federal Savings of Lorain IRA Rates
| First Federal Savings of Lorain Locations | ||
|---|---|---|
| Huron Branch | 107 Liberty Drive | Huron, OH 44839 |
| 1180 Park Avenue Branch | 1180 Park Avenue | Amherst, OH 44001 |
| Port Clinton Branch | 1840 East Perry Street | Port Clinton, OH 43452 |
| Sandusky Branch | 207 West Washington Row | Sandusky, OH 44870 |
| 2233 East 42nd Street Branch | 2233 East 42nd Street | Lorain, OH 44055 |
| 36690 Detroit Road Branch | 36690 Detroit Road | Avon, OH 44011 |
| First Federal Savings and Loan Association Of Lora | 3721 Oberlin Avenue | Lorain, OH 44053 |