Overview / Commentary
GenFed Financial is headquartered in Akron and is the 29th largest credit union in the state of Ohio. It is also the 943rd largest credit union in the nation. It was established in 1937 and as of March of 2020, it had grown to 71 employees and 23,085 members. 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
Health
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 97106 |
| Year Chartered | 1937 |
| Employees | 71 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.47% |
| Return on Equity - YTD | 3.13% |
| Annual Interest Income | $2.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2020vs Q1 2019 | $256.0MM$242.9MM |
| Loans | Q1 2020vs Q1 2019 | $164.6MM$155.6MM |
| Deposits | Q1 2020vs Q1 2019 | $216.4MM$202.7MM |
| Equity Capital | Q1 2020vs Q1 2019 | $38.0MM$36.9MM |
| Loan Loss Allowance | Q1 2020vs Q1 2019 | $603.00K$615.00K |
| Unbacked Noncurrent Loans | Q1 2020vs Q1 2019 | $385.00K$431.00K |
| Real Estate Owned | Q1 2020vs Q1 2019 | $210.00K$0 |