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 1,002nd largest credit union in the nation. It was established in 1937 and as of September of 2023, it had grown to 82 employees and 24,711 members at 11 locations. GenFed Financial's CD rates are 3X the national average, and it has an A health rating.

Field of Membership Restrictions

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

Related Posts

GenFed Financial Adds Market-Leading 18- and 30-Month CD Specials - 12/23/2023

GenFed Financial (OH/IL/IN) has added 18-month and 30-month Share Certificate Specials with market-leading APYs. $1k minimum deposit, with no stated balance cap.

Impressive 18-Month & 30-Month Certificate Specials In Ohio - 12/22/2023

Surprised to find this 6% Certificate. Eligible folks in Ohio, Indiana or Illinois may want to consider this 18-month one or the 30-month: 6.00% APY, 18-month, $1,000 min 5.30% APY, 30-month, $1,000 min One catch. It only has private deposit insurance (ASI & ESI)

Reviews (1)

Lacks Federal Insurance

Posted by: |

On GenFed web site each account says i is insured by American Share Insurance nothing to do with insurance by the federal government if the U.S.That seems like a red flag to me


Health Grade Components

NCUA #97106
Year Chartered1937
Primary Regulator
Profit Margin
Return on Assets - YTD1.14%
Return on Equity - YTD8.21%
Annual Interest Income$9MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$302.8MM$305.7MM
LoansQ3 2023vs Q3 2022$210MM$188.6MM
DepositsQ3 2023vs Q3 2022$257.7MM$265.4MM
Equity CapitalQ3 2023vs Q3 2022$42.1MM$38.3MM
Loan Loss AllowanceQ3 2023vs Q3 2022$990K$632K
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$858K$1.3MM
Real Estate OwnedQ3 2023vs Q3 2022$0$0
Report an Issue

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

1.06%*$10k*-Health Savings Account
OTHER TIERS: 0.50% $100 - $2.5k | 0.65% $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

1.06%*$75k*-Money Market Account
OTHER TIERS: 0.50% $2k - $20k | 0.65% $20k - $75k

GenFed Financial Checking Account Rates

0.50%*$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

5.25%$1k-9 Month Share Certificate Special
3.25%$1k-60 Month Share Certificate
3.00%$1k-30 Month Share Certificate
3.00%$1k-36 Month Share Certificate
3.00%$1k-48 Month Share Certificate
2.85%$1k-57 Month Bump-Up Share Certificate - New money only
2.75%$1k-18 Month Share Certificate
2.75%$1k-24 Month Share Certificate
2.65%$1k-37 Month Bump-Up Share Certificate - New money only
2.50%$1k-12 Month Share Certificate
2.25%$1k-6 Month Share Certificate
1.50%$500-3 Month Youth Share Certificate

GenFed Financial IRA Rates

3.25%$1k-60 Month IRA
3.00%$1k-30 Month IRA
3.00%$1k-36 Month IRA
3.00%$1k-48 Month IRA
2.75%$1k-18 Month IRA
2.75%$1k-24 Month IRA
2.50%$1k-12 Month IRA


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.