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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 34th largest credit union in the state of Ohio. It is also the 1,136th largest credit union in the nation. It was established in 1936 and as of June of 2022, it had grown to 33 employees and 21,038 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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Reviews (1)

They Treat People Right! Always Professional And Well Trained Staff Responds To Questions.

Posted by: |

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!

2


Health
A

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #24637
Year Chartered1936
Employees33
Primary Regulator
Profit Margin
Return on Assets - YTD0.26%
Return on Equity - YTD2.91%
Annual Interest Income$1.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$241.3MM$232.6MM
LoansQ2 2022vs Q2 2021$135.7MM$131.1MM
DepositsQ2 2022vs Q2 2021$218.4MM$209.3MM
Equity CapitalQ2 2022vs Q2 2021$22.0MM$22.5MM
Loan Loss AllowanceQ2 2022vs Q2 2021$435.00K$470.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$126.00K$212.00K
Real Estate OwnedQ2 2022vs Q2 2021$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
0.14%*$50k*-Money Market
OTHER TIERS: 0.05% → Up to $2.5k | 0.08% → $2.5k - $10k | 0.10% → $10k - $25k | 0.12% → $25k - $50k

LorMet Community Federal Credit Union Checking Account Rates

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

LorMet Community Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW 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 IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$500-30 Months IRA
0.40%$500-30 Months Roth IRA
0.30%$500-24 Months IRA
0.30%$500-24 Months Roth IRA
0.20%$500-18 Months IRA
0.20%$500-18 Months Roth IRA
0.20%$25-18 Months Variable IRA
0.15%$500-12 Months IRA
0.15%$500-12 Months Roth IRA
0.05%$500-182 Days IRA
0.05%$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

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.