LorMet Community Federal Credit Union

Overview / Commentary
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 1,137th 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.

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

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!


Health Grade Components

NCUA #24637
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD0.3%
Return on Equity - YTD3%
Annual Interest Income$3.8MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$238.3MM$218.5MM
LoansQ4 2021vs Q4 2020$129.5MM$123.5MM
DepositsQ4 2021vs Q4 2020$214.2MM$195.3MM
Equity CapitalQ4 2021vs Q4 2020$23.4MM$22.4MM
Loan Loss AllowanceQ4 2021vs Q4 2020$435.00K$448.00K
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$297.00K$399.00K
Real Estate OwnedQ4 2021vs Q4 2020$0$0
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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

0.05%$5-Primary Savings
0.05%$5-Holiday Savings
0.05%$5-Vision Savings

LorMet Community Federal Credit Union Money Market Rates

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

1.00%*-$3kEverywhere Checking - Qualifying
OTHER TIERS: 0.50% $3k - $5k

LorMet Community Federal Credit Union CD Rates

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

0.40%$500-30 Months IRA
0.40%$500-30 Months Roth IRA
0.35%$500-24 Months Roth IRA
0.30%$500-24 Months IRA
0.20%$500-18 Months IRA
0.20%$500-18 Months Roth IRA
0.20%$25-18 Months Variable IRA
0.20%$500-12 Months Roth IRA
0.15%$500-12 Months IRA
0.05%$500-182 Days IRA
0.05%$500-182 Days Roth IRA

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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