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Lormet Community Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.00%Reward CheckingEverywhere Checking - Qualifying
1.86% - National Average
0.20%1-year CD12 Months CD
1.50% - Ally Bank No Penalty 11-Month CDAdvertisement
0.10%SavingsVision Savings
1.20% - Ally Bank Online Savings AccountAdvertisement
View all Lormet Community Federal Credit Union rates »

Overview / Commentary
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 39th largest credit union in the state of Ohio. It is also the 1,199th largest credit union in the nation. It was established in 1936 and as of June of 2017, it had grown to 33 employees and 18,778 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

Related Posts

Lormet Community Federal Credit Union $100 Bonus For Ohio Residents - 2/17/2017

I was browsing around to find the best bank bonuses over $100 so I find ways to pay rent in the next few months. To receive $100 bonus, simply open a new Everywhere Checking account with at least $50 and receive recurring monthly direct deposit totaling $500 or more in ACH deposits of payroll, pension or government benefit, such as Social Security, to this account within 60 days of opening. Bonus deposited within 10 business days of completing requirements. https://www.lormet.com/accounts/checking/

Reviews (1)

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

Posted by: robert | Sep 8, 2010

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 2017

Learn why bank health matters

Health Grade Components

Overall
NCUA #24637
Year Chartered1936
Employees33
Primary Regulator
Profit Margin
Return on Assets - YTD0.34%
Return on Equity - YTD3.11%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$158.2MM$150.7MM
LoansQ2 2017vs Q2 2016$107.3MM$88.4MM
DepositsQ2 2017vs Q2 2016$140.5MM$133.4MM
Equity CapitalQ2 2017vs Q2 2016$17.3MM$16.9MM
Loan Loss AllowanceQ2 2017vs Q2 2016$225.00K$194.00K
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$156.00K$143.00K
Real Estate OwnedQ2 2017vs Q2 2016$0$0
Rates
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* 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
0.10%--Primary Savings
0.10%--Holiday Savings
0.10%--Vision Savings

Lormet Community Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$50k*-Money Market
OTHER TIERS: 0.10% → Up to $2,500 | 0.15% → $2,500 - $25k | 0.20% → $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%$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

APYMINMAXACCOUNT NAMEVIEW 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
Locations


Lormet Community Federal Credit Union Locations
Branch Office216 N Main StWellington, OH 44090
Branch Office2051 Cooper Foster Park RdAmherst, OH 44001-1208
Branch Office1825 E 28th StLorain, OH 44055
Branch Office230 E Broad StElyria, OH 44035-6432