GenFed Financial

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

GenFed Financial is headquartered in Akron and is the 28th largest credit union in the state of Ohio. It is also the 942nd largest credit union in the nation. It was established in 1937 and as of September of 2019, it had grown to 70 employees and 22,877 members. GenFed Financial's money market rates are 70% higher than the national average, and it boasts 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 - YTD0.47%
Return on Equity - YTD3.08%
Annual Interest Income$6.3MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$246.7MM$239.0MM
LoansQ3 2019vs Q3 2018$161.8MM$153.7MM
DepositsQ3 2019vs Q3 2018$205.9MM$194.2MM
Equity CapitalQ3 2019vs Q3 2018$37.7MM$36.5MM
Loan Loss AllowanceQ3 2019vs Q3 2018$630.00K$610.00K
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$592.00K$635.00K
Real Estate OwnedQ3 2019vs Q3 2018$75.00K$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

GenFed Financial Savings Account Rates

1.25%*$10k*-Health Savings Account
OTHER TIERS: 0.55% $100 - $2.5k | 0.65% $2.5k - $10k
0.40%$100-IRA Accumulator
0.15%$100-Christmas Club
0.10%$100-Traditional Savings Account
0.10%$100-Certificate Savings Club
0.10%$100-All Other Club Accounts
0.10%--Cash Cow Savings Account

GenFed Financial Money Market Rates

0.75%*$75k*-Money Market Account
OTHER TIERS: 0.55% $2k - $20k | 0.65% $20k - $75k

GenFed Financial Checking Account Rates

0.15%*$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

1.65%$1k-60 Month Share Certificate
1.55%$1k-48 Month Share Certificate
1.45%$1k-36 Month Share Certificate
1.40%$1k-30 Month Share Certificate
1.35%$1k-24 Month Share Certificate
1.30%$1k-18 Month Share Certificate
1.25%$1k-12 Month Share Certificate
1.20%$1k-57 Month Bump-Up Share Certificate - New money only
1.15%$1k-9 Month Share Certificate
1.10%$1k-6 Month Share Certificate
1.10%$1k-37 Month Bump-Up Share Certificate - New money only
0.40%$500-3 Month Youth Share Certificate

GenFed Financial IRA Rates

1.65%$1k-60 Month IRA
1.55%$1k-48 Month IRA
1.45%$1k-36 Month IRA
1.40%$1k-30 Month IRA
1.35%$1k-24 Month IRA
1.30%$1k-18 Month IRA
1.25%$1k-12 Month IRA

Sorry, but we do not have location data for GenFed Financial. Its headquarters is located at 2492 Wedgewood Drive,Suite B - Akron, OH 44312

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