Overview / Commentary
L.C.E. Federal Credit Union is headquartered in Painesville and is the 100th largest credit union in the state of Ohio. It is also the 2,263rd largest credit union in the nation. It was established in 1960 and as of June of 2024, it had grown to 13 employees and 5,839 members at 2 locations. L.C.E. Federal Credit Union's CD rates are 5X the national average, and it has a B health rating.
Field of Membership Restrictions
L.C.E. Federal Credit Union is open to those who live, work, worship or go to school in Lake County.
See current membership details
Health
B
Data as of Q2 2024
Learn why bank health mattersAdditional 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. L.C.E. Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 13885 |
| Year Chartered | 1960 |
| Employees | 13 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.89% |
| Return on Equity - YTD | 12.55% |
| Annual Interest Income | $1.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $61.7MM$58.4MM |
| Loans | Q2 2024vs Q2 2023 | $35MM$33.6MM |
| Deposits | Q2 2024vs Q2 2023 | $57.1MM$54.6MM |
| Equity Capital | Q2 2024vs Q2 2023 | $4.4MM$3.5MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $339K$271K |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $393K$313K |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |