First Federal Savings of Lorain

Overview / Commentary
3721 Oberlin Avenue
Lorain, OH 44053-2761

First Federal Savings of Lorain is headquartered in LORAIN and is the 53rd largest bank in the state of Ohio. It is also the 1,724th largest bank in the nation. It was established in 1921 and as of March of 2024, it had grown to 93 employees at 7 locations. First Federal Savings of Lorain has a B+ 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

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!!!!!


Health Grade Components

FDIC Certificate #29838
Year Established1921
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-0.82%
Return on Equity - YTD-8.48%
Annual Interest Income$4.3MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$524.8MM$536.7MM
LoansQ1 2024vs Q1 2023$350.1MM$353.8MM
DepositsQ1 2024vs Q1 2023$416.7MM$427.4MM
Equity CapitalQ1 2024vs Q1 2023$50.3MM$52.8MM
Loan Loss AllowanceQ1 2024vs Q1 2023$1.7MM$1.7MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$3.2MM$3.2MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0

Rates for First Federal Savings of Lorain are currently being reviewed.


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 AveLorain, OH 44053

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