LorMet Community Federal Credit Union is headquartered in Amherst and is the 33rd largest credit union in the state of Ohio. It is also the 1,129th largest credit union in the nation. It was established in 1936 and as of June of 2021, it had grown to 36 employees and 20,865 members at 4 locations. LorMet Community Federal Credit Union has an A health rating.
Field of Membership Restrictions
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
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They Treat People Right! Always Professional And Well Trained Staff Responds To Questions.
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!
Data as of Q2 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24637 |
| Year Chartered | 1936 |
| Employees | 36 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.3% |
| Return on Equity - YTD | 3.1% |
| Annual Interest Income | $1.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2021vs Q2 2020 | $232.6MM$206.9MM |
| Loans | Q2 2021vs Q2 2020 | $131.1MM$118.3MM |
| Deposits | Q2 2021vs Q2 2020 | $209.3MM$183.6MM |
| Equity Capital | Q2 2021vs Q2 2020 | $22.5MM$22.6MM |
| Loan Loss Allowance | Q2 2021vs Q2 2020 | $470.00K$434.00K |
| Unbacked Noncurrent Loans | Q2 2021vs Q2 2020 | $212.00K$518.00K |
| Real Estate Owned | Q2 2021vs Q2 2020 | $0$0 |