Lormet Community Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.00% | Reward Checking | Everywhere Checking - Qualifying 1.75% - National Average |
| 0.20% | 1-year CD | 12 Months CD 1.05% - Ally Bank High Yield 12-Month CD |
| 0.10% | Savings | Vision Savings 1.00% - Ally Bank Online Savings Account |
Lormet Community Federal Credit Union is headquartered in Amherst and is the 44th largest credit union in the state of Ohio. It is also the 1,203rd largest credit union in the nation. It was established in 1936 and as of June of 2016, it had grown to 31 employees and 18,104 members at 4 locations. Lormet Community Federal Credit Union has an A health rating.
Field of Membership Restrictions
Membership is open to those who live, work, worship or attend school in Lorain County.
See current membership details
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 2016
Learn more about bank healthHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24637 |
| Year Chartered | 1936 |
| Employees | 31 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.27% |
| Return on Equity - YTD | 2.41% |
| Annual Interest Income | $1.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2016vs Q2 2015 | $150.7MM$148.5MM |
| Loans | Q2 2016vs Q2 2015 | $88.4MM$75.6MM |
| Deposits | Q2 2016vs Q2 2015 | $133.4MM$130.8MM |
| Equity Capital | Q2 2016vs Q2 2015 | $16.9MM$16.2MM |
| Loan Loss Allowance | Q2 2016vs Q2 2015 | $194.00K$176.00K |
| Unbacked Noncurrent Loans | Q2 2016vs Q2 2015 | $143.00K$122.00K |
| Real Estate Owned | Q2 2016vs Q2 2015 | $0$0 |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.10% | - | - | Primary Savings | |
| 0.10% | - | - | Holiday Savings | |
| 0.10% | - | - | Vision Savings |
Lormet Community Federal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.00%* | - | $3k | Everywhere Checking - Qualifying | ||
| OTHER TIERS: 0.50% → $3k - $5k | |||||
Lormet Community Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.40% | $2,500 | - | 24 Months CD | |
| 0.40% | $2,500 | - | 30 Months CD | |
| 0.25% | $2,500 | - | 18 Months CD | |
| 0.20% | $2,500 | - | 12 Months CD | |
| 0.10% | $2,500 | - | 91 Days CD | |
| 0.10% | $2,500 | - | 182 Days CD | |
| 0.10% | $2,500 | - | 9 Months CD |
Lormet Community Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.40% | $500 | - | 30 Months IRA | |
| 0.40% | $500 | - | 24 Months IRA | |
| 0.25% | $500 | - | 18 Months IRA | |
| 0.20% | $25 | - | 18 Months Variable IRA | |
| 0.10% | $500 | - | 182 Days IRA |
| Lormet Community Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 216 N Main St | Wellington, OH 44090 |
| Branch Office | 2051 Cooper Foster Park Rd | Amherst, OH 44001-1208 |
| Branch Office | 1825 E 28th St | Lorain, OH 44055 |
| Branch Office | 230 E Broad St | Elyria, OH 44035-6432 |