Lormet Community Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.00% | Reward Checking | Everywhere Checking - Qualifying 1.95% - National Average |
| 0.20% | 1-year CD | 12 Months CD 1.80% - Ally Bank No Penalty 11-Month CD |
| 0.10% | Savings | Vision Savings 1.65% - Barclays Online Savings Account |
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 1,107th largest credit union in the nation. It was established in 1936 and as of March of 2018, it had grown to 34 employees and 21,335 members at 5 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
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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 Q1 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24637 |
| Year Chartered | 1936 |
| Employees | 34 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.41% |
| Return on Equity - YTD | 3.94% |
| Annual Interest Income | $1.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2018vs Q1 2017 | $185.6MM$158.3MM |
| Loans | Q1 2018vs Q1 2017 | $120.9MM$105.9MM |
| Deposits | Q1 2018vs Q1 2017 | $165.5MM$140.8MM |
| Equity Capital | Q1 2018vs Q1 2017 | $19.0MM$17.1MM |
| Loan Loss Allowance | Q1 2018vs Q1 2017 | $263.00K$204.00K |
| Unbacked Noncurrent Loans | Q1 2018vs Q1 2017 | $371.00K$254.00K |
| Real Estate Owned | Q1 2018vs Q1 2017 | $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 Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.27%* | $50k* | - | Money Market | ||
| OTHER TIERS: 0.10% → Up to $2,500 | 0.15% → $2,500 - $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k | |||||
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 | - | 30 Months Roth IRA | |
| 0.40% | $500 | - | 24 Months IRA | |
| 0.40% | $500 | - | 24 Months Roth IRA | |
| 0.25% | $500 | - | 18 Months IRA | |
| 0.25% | $500 | - | 18 Months Roth IRA | |
| 0.20% | $25 | - | 18 Months Variable IRA | |
| 0.10% | $500 | - | 182 Days IRA | |
| 0.10% | $500 | - | 182 Days Roth 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 |
| Branch Office | 586 Moore Rd | Avon Lake, OH 44012-2313 |