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 52^nd largest bank in the state of Ohio. It is also the 1,762^nd largest bank in the nation. It was established in 1921 and as of December of 2021, it had grown to 101 employees at 7 locations. First Federal Savings of Lorain has an A+ health rating.

Reviews (2)

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Hides The Facts

Posted by: Caro | Jul 15, 2018

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

Comment

Not Recommended

Posted by: lorikleinosky | Sep 19, 2017

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!!!!!

Comment

Health

A+

Data as of Q4 2021

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	29838
Year Established	1921
Employees	101
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	-0.08%
Return on Equity - YTD	-0.63%
Annual Interest Income	$11.8MM

Assets and Liabilities
Assets	Q4 2021vs Q4 2020	$491.3MM$467.9MM
Loans	Q4 2021vs Q4 2020	$247.4MM$292.6MM
Deposits	Q4 2021vs Q4 2020	$399.0MM$372.2MM
Equity Capital	Q4 2021vs Q4 2020	$63.4MM$66.1MM
Loan Loss Allowance	Q4 2021vs Q4 2020	$1.7MM$1.9MM
Unbacked Noncurrent Loans	Q4 2021vs Q4 2020	$4.5MM$7.0MM
Real Estate Owned	Q4 2021vs Q4 2020	$0$79.00K

Rates

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Money Market
Checking
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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

APY	MIN	MAX	ACCOUNT NAME
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

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
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

APY	MIN	MAX	ACCOUNT NAME
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
0.15%	$250	-	1.5 Year CD
0.15%	$250	-	17 Month CD Special
0.10%	$250	-	1 Year CD
0.10%	$100k	-	271-365 Day Jumbo CD
0.10%	$250	-	10 Month CD Special
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

APY	MIN	MAX	ACCOUNT NAME
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
0.15%	$250	-	1.5 Year IRA
0.15%	$250	-	17 Month IRA Special
0.10%	$250	-	1 Year IRA
0.10%	$100k	-	271-365 Day Jumbo IRA
0.10%	$250	-	10 Month IRA Special
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 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

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