LorMet Community Federal Credit Union is headquartered in Amherst and is the 34th largest credit union in the state of Ohio. It is also the 1,137th largest credit union in the nation. It was established in 1936 and as of December of 2021, it had grown to 35 employees and 20,682 members at 4 locations. LorMet Community Federal Credit Union has an A health rating.
LorMet Community Federal Credit Union is open to anyone who lives, works,, worships or goes to school in Lorain County, or the cities of Rocky River, Bay Village, or Westlake. Immediate family can also join.
See current membership details
LorMet began in 1936 and had developed into a full service financial institution with 5 locations. Lormet's board and staff all live in the communities they serve. They understand professional and timely financial services. Good credit applicants have car loans approved in minutes. Nothing but the best here!
Overall | |
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NCUA # | 24637 |
Year Chartered | 1936 |
Employees | 35 |
Primary Regulator |
Profit Margin | |
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Return on Assets - YTD | 0.3% |
Return on Equity - YTD | 3% |
Annual Interest Income | $3.8MM |
Assets and Liabilities | ||
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Assets | Q4 2021vs Q4 2020 | $238.3MM$218.5MM |
Loans | Q4 2021vs Q4 2020 | $129.5MM$123.5MM |
Deposits | Q4 2021vs Q4 2020 | $214.2MM$195.3MM |
Equity Capital | Q4 2021vs Q4 2020 | $23.4MM$22.4MM |
Loan Loss Allowance | Q4 2021vs Q4 2020 | $435.00K$448.00K |
Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $297.00K$399.00K |
Real Estate Owned | Q4 2021vs Q4 2020 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not LorMet Community 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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.05% | $5 | - | Primary Savings | |
0.05% | $5 | - | Holiday Savings | |
0.05% | $5 | - | Vision Savings |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.14%* | $50k* | - | Money Market | ||
OTHER TIERS: 0.05% → Up to $2.5k | 0.08% → $2.5k - $10k | 0.10% → $10k - $25k | 0.12% → $25k - $50k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
1.00%* | - | $3k | Everywhere Checking - Qualifying | ||
OTHER TIERS: 0.50% → $3k - $5k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.40% | $1k | - | 30 Months CD | |
0.30% | $1k | - | 24 Months CD | |
0.20% | $1k | - | 18 Months CD | |
0.15% | $1k | - | 12 Months CD | |
0.05% | $1k | - | 91 Days CD | |
0.05% | $1k | - | 182 Days CD | |
0.05% | $1k | - | 9 Months CD |
LorMet Community Federal Credit Union Locations | ||
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Branch Office | 216 N Main St | Wellington, OH 44090 |
Branch Office | 2051 Cooper Foster Park Rd | Amherst, OH 44001-1208 |
Branch Office | 230 E Broad St | Elyria, OH 44035-6432 |
Branch Office | 586 Moore Rd | Avon Lake, OH 44012-2313 |