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LorMet Community Federal Credit Union


Overview / Commentary
www.lormet.com
440-960-6600
2051 Cooper Foster Park Rd
Amherst, OH 44001-1208

LorMet Community Federal Credit Union is headquartered in Amherst and is the 35th largest credit union in the state of Ohio. It is also the 1,120th largest credit union in the nation. It was established in 1936 and as of June of 2024, it had grown to 36 employees and 19,653 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.
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Health
A

Data as of Q2 2024

Learn why bank health matters

Health Grade Components

Overall
NCUA #24637
Year Chartered1936
Employees36
Primary Regulator
Profit Margin
Return on Assets - YTD1.3%
Return on Equity - YTD11.68%
Annual Interest Income$4.9MM
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$250.8MM$242.4MM
LoansQ2 2024vs Q2 2023$142.6MM$140.9MM
DepositsQ2 2024vs Q2 2023$220.7MM$217.7MM
Equity CapitalQ2 2024vs Q2 2023$27.9MM$23.8MM
Loan Loss AllowanceQ2 2024vs Q2 2023$481K$575K
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$304K$200K
Real Estate OwnedQ2 2024vs Q2 2023$0$0
Rates
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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.

LorMet Community Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$5-Primary Savings
0.05%$5-Holiday Savings
0.05%$5-Vision Savings

LorMet Community Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$50k*-Money Market
OTHER TIERS: 0.15% → $0 - $2.5k | 0.20% → $2.5k - $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k

LorMet Community Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$0$3kEverywhere Checking - Qualifying
OTHER TIERS: 0.50% → $3k - $5k

LorMet Community Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%$2.5k-6 Month CD Special
4.25%$2.5k-13 Month CD Special
4.25%$2.5k-19 Month CD Special
0.47%$1k-30 Months CD
0.37%$1k-24 Months CD
0.27%$1k-18 Months CD
0.22%$1k-12 Months CD
0.12%$1k-91 Days CD
0.12%$1k-182 Days CD
0.12%$1k-9 Months CD

LorMet Community Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.47%$500-30 Months IRA
0.37%$500-24 Months IRA
0.37%$500-24 Months Roth IRA
0.27%$500-18 Months IRA
0.27%$500-18 Months Roth IRA
0.27%$25-18 Months Variable IRA
0.22%$500-12 Months IRA
0.22%$500-12 Months Roth IRA
0.12%$500-182 Days IRA
0.12%$500-182 Days Roth IRA
Locations


LorMet Community Federal Credit Union Locations
Branch Office216 N Main StWellington, OH 44090
Branch Office2051 Cooper Foster Park RdAmherst, OH 44001-1208
Branch Office230 E Broad StElyria, OH 44035-6432
Branch Office586 Moore RdAvon Lake, OH 44012-2313

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