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Great Erie Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.35%5-year CD5 Year CD
0.50%1-year CD1 Year CD
0.10%SavingsSavings Accounts

Overview / Commentary
716-662-1311
4000 N Buffalo St
Orchard Park, NY 14127

Great Erie Federal Credit Union is headquartered in Orchard Park and is the 88th largest credit union in the state of New York. It is also the 1,808th largest credit union in the nation. It was established in 1952 and as of September of 2016, it had grown to 19 employees and 7,669 members at 2 locations. Great Erie Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership is open to those who live, work, worship, volunteer, work or attend school or other legal entities in the townships of: Aurora, Boston, Brant, Colden, Collins, Concord, Eden, Elma, Evans, Hamburg, Holland, Marilla, North Collins, Orchard Park, Sardinia, Wales, West Seneca or the City of Lackawanna, New York.
See current membership details

Reviews (2)

Great Erie Federal Credit Union Is Horrible

Posted by: keliseb | Aug 19, 2015

This credit union used to be Orchard Park Federal Credit Union. When it made the switch to the now Great Erie Federal Credit Union things just went down hill. They no longer care about keeping the customers they've had for years. They charge ridiculous high fees for petty things they never had fees for before. I sincerely advise taking your business elsewhere. I only gave it one star because I was required to score something. I wouldn't have given them anything if it would have allowed me.

Poor Communication And A Complete Lack Of Customer Service.

Posted by: Anonymous | May 31, 2012

My car was repossessed with only feeble attempts at first attempting to resolve the issue. First admittedly, the bank failed to continue making automated payments and after one phone call from the credit union, I attempted to resolve the issue and also sent additional payments. Nothing was ever communicated to me in writing from the credit union. When I asked them to fully or partially waive the $350 fee for the repossession, I was told that they wouldn't rescind the charge and that they; "did not have to send out written notice". I have to think that there is a difference between "we don't have to" and what I would call common courtesy.

Granted, I am still pursuing the bank for the same charges, but in the interest of customer service, wouldn't it be better to give your customer a written "heads-up" to take care of the issue before sending the tow truck. At the time of repossession, the statement read that we were behind in payment by $377.00. Also at the same time, over $4000.00 was in the account that was set up to auto - pay the loan.

In hindsight, keep an eye on your bank (my fault) and borrow money from someone who actually cares about their customers. I can tell you that someone is not Great Erie Federal Credit Union.



Health
A
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Great Erie Federal Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #7925
Year Chartered1952
Employees19
Primary Regulator
Profit Margin
Return on Assets - YTD0.73%
Return on Equity - YTD7.25%
Annual Interest Income$1.8MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$79.8MM$75.5MM
LoansQ3 2016vs Q3 2015$49.5MM$43.8MM
DepositsQ3 2016vs Q3 2015$71.4MM$67.7MM
Equity CapitalQ3 2016vs Q3 2015$8.0MM$7.4MM
Loan Loss AllowanceQ3 2016vs Q3 2015$164.00K$403.00K
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$150.00K$305.00K
Real Estate OwnedQ3 2016vs Q3 2015$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Great Erie Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$25k*-IRA Account
OTHER TIERS: 0.25% $50 - $25k
0.30%*$25k*-Roth IRA Account
OTHER TIERS: 0.25% $50 - $25k
0.30%*$25k*-Coverdell Educational Savings Accounts
OTHER TIERS: 0.25% $50 - $25k
0.10%$25-Savings Accounts
0.10%--Youth Savings Account

Great Erie Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$25k*-Money Market Account
OTHER TIERS: 0.25% $2,500 - $25k

Great Erie Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.35%$1k-5 Year CD
1.20%$1k-4 Year CD
0.90%$1k-3 Year CD
0.70%$1k-2 Year CD
0.50%$1k-1 Year CD

Great Erie Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.35%$1k-5 Year IRA
1.20%$1k-4 Year IRA
0.90%$1k-3 Year IRA
0.70%$1k-2 Year IRA
0.50%$1k-1 Year IRA
Locations


Great Erie Federal Credit Union Locations
Branch Office4000 N Buffalo StOrchard Park, NY 14127
Branch Office591 Main StEast Aurora, NY 14052