GenFed Financial

Overview / Commentary
2492 Wedgewood Drive,Suite B
Akron, OH 44312

GenFed Financial is headquartered in Akron and is the 30th largest credit union in the state of Ohio. It is also the 956th largest credit union in the nation. It was established in 1937 and as of March of 2021, it had grown to 75 employees and 23,675 members at 13 locations. GenFed Financial has an A+ health rating.

Field of Membership Restrictions

Membership in GenFed Financial is open to those who live, work, attend school or worship in Cuyahoga, Defiance, Erie, Lorain, Medina, Paulding, Portage, Summit, or Williams Counties in Ohio or in Clinton, Jefferson, or Marion Counties in Illinois. Membership is also available to those who live or work in Shelby County, Indiana.
See current membership details


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Health Grade Components

NCUA #97106
Year Chartered1937
Primary Regulator
Profit Margin
Return on Assets - YTD0.2%
Return on Equity - YTD1.52%
Annual Interest Income$1.9MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$298.1MM$256.0MM
LoansQ1 2021vs Q1 2020$163.3MM$164.6MM
DepositsQ1 2021vs Q1 2020$257.9MM$216.4MM
Equity CapitalQ1 2021vs Q1 2020$38.4MM$38.0MM
Loan Loss AllowanceQ1 2021vs Q1 2020$476.00K$603.00K
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$299.00K$385.00K
Real Estate OwnedQ1 2021vs Q1 2020$0$210.00K
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Always verify rates and promotions with the bank or credit union. We are not GenFed Financial; 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.

GenFed Financial Savings Account Rates

0.10%*$10k*-Health Savings Account
OTHER TIERS: 0.05% $100 - $2.5k | 0.08% $2.5k - $10k
0.10%$100-Christmas Club
0.05%$100-Traditional Savings Account
0.05%$100-IRA Accumulator
0.05%$100-Certificate Savings Club
0.05%$100-All Other Club Accounts
0.05%--Cash Cow Savings Account

GenFed Financial Money Market Rates

0.10%*$75k*-Money Market Account
OTHER TIERS: 0.05% $2k - $20k | 0.08% $20k - $75k

GenFed Financial Checking Account Rates

0.10%*$1.5k*-Premier Interest Checking
OTHER TIERS: 0.05% Up to $1.5k
0.05%$1.5k-Business Interest Checking
0.05%--50+ Interest Checking
0.05%--eInterest Plus Checking

GenFed Financial CD Rates

0.45%$1k-60 Month Share Certificate
0.30%$1k-48 Month Share Certificate
0.25%$1k-36 Month Share Certificate
0.25%$1k-57 Month Bump-Up Share Certificate - New money only
0.20%$1k-24 Month Share Certificate
0.20%$1k-30 Month Share Certificate
0.15%$1k-12 Month Share Certificate
0.15%$1k-18 Month Share Certificate
0.15%$1k-37 Month Bump-Up Share Certificate - New money only
0.10%$1k-6 Month Share Certificate
0.10%$1k-9 Month Share Certificate
0.05%$500-3 Month Youth Share Certificate

GenFed Financial IRA Rates

0.45%$1k-60 Month IRA
0.30%$1k-48 Month IRA
0.25%$1k-36 Month IRA
0.20%$1k-24 Month IRA
0.20%$1k-30 Month IRA
0.15%$1k-12 Month IRA
0.15%$1k-18 Month IRA


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