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 73rd largest credit union in the state of New York. It is also the 1,576th largest credit union in the nation. It was established in 1952 and as of June of 2022, it had grown to 22 employees and 9,022 members at 4 locations. Inner Lakes Federal Credit Union's CD rates are 2X the national average, and it has a B health rating.

Field of Membership Restrictions

Inner Lakes Federal Credit Union is open to businesses and anyone who lives, works, worships, or goes to school in Chautauqua County. Immediate family and household members are also eligible to join.
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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 - YTD0.7%
Return on Equity - YTD28.91%
Annual Interest Income$1.7MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$135.2MM$132.7MM
LoansQ2 2022vs Q2 2021$50.2MM$44.7MM
DepositsQ2 2022vs Q2 2021$131.2MM$122.2MM
Equity CapitalQ2 2022vs Q2 2021$3.3MM$10.3MM
Loan Loss AllowanceQ2 2022vs Q2 2021$237.00K$216.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$319.00K$101.00K
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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Always verify rates and promotions with the bank or credit union. We are not Inner Lakes Federal Credit Union; 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.

Inner Lakes Federal Credit Union Savings Account Rates

1.61%*$50k*-IRA Share
OTHER TIERS: 1.06% Up to $5k | 1.16% $5k - $25k | 1.36% $25k - $50k
0.40%*$35k*-Shares Savings
OTHER TIERS: 0.30% $5 - $15k | 0.35% $15k - $35k
0.30%--Christmas Club

Inner Lakes Federal Credit Union Money Market Rates

0.75%*$25k*-Money Market
OTHER TIERS: 0.70% $2.5k - $25k

Inner Lakes Federal Credit Union CD Rates

2.94%$1k-60 Month CD
2.84%$1k-48 Month CD
2.73%$1k-36 Month CD
2.53%$1k-24 Month CD
2.32%$500-18 Month CD
2.17%$500-12 Month CD
2.02%$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 Office338 Central AveDunkirk, NY 14048

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