LorMet Community Federal Credit Union is headquartered in Amherst and is the 36th largest credit union in the state of Ohio. It is also the 1,125th largest credit union in the nation. It was established in 1936 and as of June of 2020, it had grown to 34 employees and 20,609 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 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24637 |
| Year Chartered | 1936 |
| Employees | 34 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.47% |
| Return on Equity - YTD | 4.16% |
| Annual Interest Income | $2.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $206.9MM$185.6MM |
| Loans | Q2 2020vs Q2 2019 | $118.3MM$122.3MM |
| Deposits | Q2 2020vs Q2 2019 | $183.6MM$163.6MM |
| Equity Capital | Q2 2020vs Q2 2019 | $22.6MM$20.9MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $434.00K$406.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $518.00K$689.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |