Inner Lakes Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
0.65%	1-year CD	12 Month CD 1.35% - Ally Bank High Yield 12-Month CD
0.15%	Savings	Shares Savings 1.20% - Synchrony Bank High Yield Savings
1.56%	4-year CD	48 Month CD 1.80% - Goldman Sachs Bank USA 4 Year CD

View all Inner Lakes Federal Credit Union rates »

Overview / Commentary

www.innerlakesfcu.org

716-326-3858

19-21 E Main St
Westfield, NY 14787-1319

Inner Lakes Federal Credit Union is headquartered in Westfield and is the 87^th largest credit union in the state of New York. It is also the 1,786^th largest credit union in the nation. It was established in 1952 and as of March of 2017, it had grown to 20 employees and 9,126 members at 7 locations. Inner Lakes Federal Credit Union's money market rates are 14% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must be an employee or member of any board of education who work in any school at Bemus Point, Brocton, Cassadaga, Chautauqua Lake, Fredonia, Ripley, Sherman or Westfield, New York or be an employee of other select companies and organizations.
See current membership details

My Favorite Credit Union

Posted by: doramorrison69 | Aug 9, 2017

I have been a member of this bank since I was pretty much born. They are staffed by various local girls that I have known my entire life on a first name basis. I can say that they are always very willing to help you with anything that you need. Their fees are reasonable. I have never had more than one fee ever and that was due to my checking account being empty and having to move funds from another account. When you go in, they don't have all of this paperwork that you need to fill out. Why? Because they KNOW you. They know who you are, simply ID you for regulations, and move on with your request. I always can get fast, very personal help there without all the extra steps and paperwork that you get from other banks and that is why I go here. It is truly the reason why, after moving away 10 years ago, that I keep a good portion of my money still with them. I wouldn't work with any other bank unless I needed something that they couldn't provide!

Comment

1

Health

B+

Data as of Q1 2017

Learn why bank health matters

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. Inner Lakes Federal Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #	7717
Year Chartered	1952
Employees	20
Primary Regulator

Profit Margin
Return on Assets - YTD	0.55%
Return on Equity - YTD	7.82%
Annual Interest Income	$566.00K

Assets and Liabilities
Assets	Q1 2017vs Q1 2016	$83.2MM$78.6MM
Loans	Q1 2017vs Q1 2016	$32.1MM$31.5MM
Deposits	Q1 2017vs Q1 2016	$77.4MM$73.0MM
Equity Capital	Q1 2017vs Q1 2016	$5.7MM$5.5MM
Loan Loss Allowance	Q1 2017vs Q1 2016	$164.00K$144.00K
Unbacked Noncurrent Loans	Q1 2017vs Q1 2016	$228.00K$317.00K
Real Estate Owned	Q1 2017vs Q1 2016	$58.00K$0

Rates

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