Lake County Educational Federal Credit Union

Popular Accounts at this Credit Union

0.50%5-year CD
0.15%1-year CD
View all Lake County Educational Federal Credit Union rates »

Overview / Commentary
1595 Mentor Ave
Painesville, OH 44077

Lake County Educational Federal Credit Union is headquartered in Painesville and is the 134th largest credit union in the state of Ohio. It is also the 3,006th largest credit union in the nation. It was established in 1995 and as of December of 2018, it had grown to 5 employees and 3,637 members at 2 locations. Lake County Educational Federal Credit Union has a B health rating.

Field of Membership Restrictions

Membership is open to employees of Painesville Township, Madison, Fairport Harbor, Perry, Auburn Vocational and Kirtland school districts. The private schools of Phillips-Osborne, MacKenzie Memorial Public Library and Our Shepherd Lutheran School, students of Painesville Township, Auburn Vocational, and Fairport Harbor school districts, students and staff of Brown Aveda Institute, or employees of Ladies and Gentlemen Spa and Salon of Mentor.
See current membership details

Reviews (1)

Teacher's Credit Union

Posted by: kozinga | May 6, 2014

My husband and I joined the Lake County Educational Federal Credit Union (LCEFCU) about three years ago. We were looking for a credit union as opposed to a large national bank where we knew we could receive personal attention with a small town feel but in the suburbs. We choose LCEFCU, as it came highly recommended from our colleagues. We switched to a federal credit union after receiving high interest rate quotes for a car loan from our previous national bank and we wanted to make our money work for us. Also, LCEFCU offered a higher return on our saving account percentage and CDs, at the time. Over the years, we have been more than pleased with our service at LCEFCU. The tellers offer a personal service to our family as they worked with us to get a low loan rate for our vehicle. When I deposit or withdraw money, the teller knows my name (several different tellers) and often ask questions about my children. They offer a personal touch to banking. By knowing my name and face, I have confidence in the credit union against fraud on my behalf. Plus, they always provide treats for my children. The credit union is involved in the community by offering seminars on smart financial banking and they offer fundraisers opportunities for community programs. I can complete all my banking online and there are no annual fees. Often times I will receive a "bonus" in my checking account for having my business with them. I love having ownership of my bank and having a voice, as the credit union is owned by the members. They also offer their members discounts to local attractions such as movies or park tickets. I would highly recommend the Lake County Educational Federal Credit Union.

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. Lake County Educational Federal Credit Union has a low asset base.

Health Grade Components

NCUA #24545
Year Chartered1995
Primary Regulator
Profit Margin
Return on Assets - YTD0.44%
Return on Equity - YTD5.57%
Annual Interest Income$883.00K
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$27.2MM$21.8MM
LoansQ4 2018vs Q4 2017$13.1MM$10.6MM
DepositsQ4 2018vs Q4 2017$25.0MM$20.1MM
Equity CapitalQ4 2018vs Q4 2017$2.1MM$1.6MM
Loan Loss AllowanceQ4 2018vs Q4 2017$31.00K$28.00K
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$27.00K$1,000
Real Estate OwnedQ4 2018vs Q4 2017$95.00K$0
Skip to rates for:
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Lake County Educational 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.

Lake County Educational Federal Credit Union Savings Account Rates

0.10%$250-Regular Share Savings Account

Lake County Educational Federal Credit Union Money Market Rates

0.18%*$20k*-Money Market Account
OTHER TIERS: 0.15% $2.5k - $20k

Lake County Educational Federal Credit Union CD Rates

0.75%$1k-36 Month Share Certificate
0.50%$1k-60 Month Share Certificate
0.40%$1k-48 Month Share Certificate
0.20%$1k-24 Month Share Certificate
0.15%$1k-12 Month Share Certificate

Lake County Educational Federal Credit Union Locations
Branch Office1595 Mentor AvePainesville, OH 44077
Branch Office30129 Lorain RdNorth Olmsted, OH 44070

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.