Featured Savings Rates
Featured Accounts

Lakes Area Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
0.05%1-year CD12 Month CD
0.03%SavingsS’more Savings
0.25%3-year CD30 Month CD

Overview / Commentary
218-326-1251
18 NW 4th Street
Grand Rapids, MN 55744

Lakes Area Federal Credit Union is headquartered in Grand Rapids and is the 72nd largest credit union in the state of Minnesota. It is also the 3,212th largest credit union in the nation. It was established in 1953 and as of June of 2016, it had grown to 7 employees and 3,491 members at 1 location. Lakes Area Federal Credit Union has a C- health rating.

Field of Membership Restrictions

Membership is open to those who live, work, attend school or worship in, and businesses located in Itasca County.
See current membership details

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Health
C-
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. Lakes Area Federal Credit Union has a low asset base.

Health Grade Components

Overall
NCUA #24663
Year Chartered1953
Employees7
Primary Regulator
Profit Margin
Return on Assets - YTD-0.95%
Return on Equity - YTD-13.61%
Annual Interest Income$632.00K
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$24.1MM$23.1MM
LoansQ2 2016vs Q2 2015$19.6MM$17.6MM
DepositsQ2 2016vs Q2 2015$21.0MM$20.8MM
Equity CapitalQ2 2016vs Q2 2015$1.7MM$1.7MM
Loan Loss AllowanceQ2 2016vs Q2 2015$169.00K$87.00K
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$506.00K$78.00K
Real Estate OwnedQ2 2016vs Q2 2015$168.00K$168.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Lakes Area Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$25-Campfire Kids Savings
0.03%$500-S’more Savings
0.03%--Club IRA Account

Lakes Area Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$75k*-Money Market Account
OTHER TIERS: 0.03% $2,500 - $10k | 0.10% $10k - $75k

Lakes Area Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.03%$2,500-Business Checking

Lakes Area Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%$1k-36 Month CD
0.25%$1k-30 Month CD
0.20%$1k-24 Month CD
0.05%$1k-12 Month CD
0.05%$1k-18 Month CD
0.03%$1k-3 Month CD
0.03%$1k-6 Month CD
0.03%$100-90 Day Youth CD

Lakes Area Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%$1k-36 Month IRA
0.25%$1k-30 Months IRA
0.20%$1k-24 Month IRA
0.05%$1k-12 Month IRA
0.05%$1k-18 Month IRA
Locations


Lakes Area Federal Credit Union Locations
Branch Office18 NW 4th StGrand Rapids, MN 55744