Inner Lakes Federal Credit Union

Overview / Commentary
19-21 E Main St
Westfield, NY 14787

Inner Lakes Federal Credit Union is headquartered in Westfield and is the 76th largest credit union in the state of New York. It is also the 1,632nd largest credit union in the nation. It was established in 1952 and as of December of 2019, it had grown to 19 employees and 9,236 members at 6 locations. Inner Lakes Federal Credit Union's money market rates are 36% higher than the national average, and it has an A 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.
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Reviews (2)

Best Credit union!

I have been with these guys since I was pretty much alive. I had a joint account with my mom that stated my savings. We went up there all the time to do banking and I got to know the girls that worked there. You really have that super personal feeling when you walk in. They literally know ALL of the members there. You don't have all of the paperwork that most banks give you. They simply ID you for regulation sake, and then ask you what they can help you with. They don't have any annoying fees, and I've literally never seen them make a mistake, unlike other banks. The one time that I did see them make a mistake, they admitted to it and reversed it immediately without charging anyone all of those BS fees that other banks will. Due to how easy and real these guys are, I still keep my money there after having moved away ten years ago! I highly recommend them to anyone looking for a credit union!

My Favorite Credit Union

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!


Health Grade Components

NCUA #7717
Year Chartered1952
Primary Regulator
Profit Margin
Return on Assets - YTD0.92%
Return on Equity - YTD10.74%
Annual Interest Income$3.3MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$100.3MM$91.1MM
LoansQ4 2019vs Q4 2018$41.8MM$37.7MM
DepositsQ4 2019vs Q4 2018$91.7MM$84.2MM
Equity CapitalQ4 2019vs Q4 2018$8.5MM$6.8MM
Loan Loss AllowanceQ4 2019vs Q4 2018$198.00K$149.00K
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$214.00K$374.00K
Real Estate OwnedQ4 2019vs Q4 2018$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Inner Lakes Federal Credit Union Savings Account Rates

1.16%*$50k*-IRA Share
OTHER TIERS: 0.65% Up to $25k | 0.90% $25k - $50k
0.25%--Christmas Club
0.15%*$15k*-Shares Savings
OTHER TIERS: 0.10% $5 - $15k

Inner Lakes Federal Credit Union Money Market Rates

0.60%*$50k*-Money Market
OTHER TIERS: 0.35% $2.5k - $5k | 0.40% $5k - $25k | 0.45% $25k - $50k

Inner Lakes Federal Credit Union CD Rates

1.46%$1k-48 Month CD
1.36%$1k-36 Month CD
1.26%$1k-24 Month CD
1.16%$500-18 Month CD
0.95%$500-12 Month CD
0.80%$500-6 Month CD

Inner Lakes Federal Credit Union Locations
Branch Office21 Main StBemus Point, NY 14712-9303
Branch Office19-21 E Main StWestfield, NY 14787-1319
Branch Office3795 Lakeview RdFredonia, NY 14063-1972
Branch Office138 W Main StBrocton, NY 14716
Branch Office338 Central AveDunkirk, NY 14048
Branch Office127 Park StSherman, NY 14781-9624

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