Ohio Catholic Federal Credit Union is headquartered in Garfield Hts and is the 38th largest credit union in the state of Ohio. It is also the 1,189th largest credit union in the nation. It was established in 1954 and as of December of 2021, it had grown to 50 employees and 12,065 members at 4 locations. Ohio Catholic Federal Credit Union's CD rates are 11% higher than the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Ohio Catholic Federal Credit Union membership is open to employees, students and members of any Catholic Diocese - including schools, parishes, ministries, organizations, services or entities - within Ohio State. Also eligible for membership are immediate family and household members, employees & retirees or volunteers of Ohio Catholic FCU, or employees and members of the Clark-Metro Development Corporation of Cleveland and employees of M and M Foods, who are paid from Cleveland, OH. (A complete list of requirements are listed on the credit union's website)
See current membership details
Great bank until you actually need help or have a dispute
I have been with the bank since I opened my first savings account as a child. I attended the Catholic grade school associated with the institution and my parents were members since enrolling my in kindergarten. My banking experience with Ohio Catholic was always enjoyable, as I grew up and opening a checking account with them as well for automatic deposits as I began working in high school. It was nice having a small bank where people recognized you and knew you by name. A lot of parents whose children I attended school with also worked there and were always excited to see me. It was a personal experience, which I enjoyed. The real issue began when I moved away for college. It wasn't easy to access my money since they are a same bank and had limited free ATMs in the Columbus area. Then, one day my landlord cashed my rental check extremely late without my knowledge. The same day, a Saturday, I went shopping at the mall and made six different purchases using my debit card with Ohio Catholic. While I had nearly $10,000+ in my savings (for school), my checking was drained by the rental check and all six purchases at the mall caused Ohio Catholic to charge me SIX overdraft fees. SIX! Totaling $180 in fees. For under $100 in purchases. I was furious, especially since I thought I had my debit card set to get declined when I was out of money. And, all they had to do was transfer money from my savings to checking. It wasn't like I didn't have the money. If anything, it should have been a one-time fee for $30, not six separate charges. The worst part is- NO ONE at this "small, family, religious-oriented" bank bothered to call me on Monday to let me know I over withdrew my account... Luckily I check my banking online regularly and saw it myself. In fact, no one contacted me all week. So, I would've kept racking up overdraft charges. When I went home to Cleveland and sat down to talk with a banking representative high up in the company, a parent I knew since I was five years old, I was told there was nothing they could do to reverse the fees. I had been with them for 15+ years, had loans for school through them, my parents have been with them for 25+ years and financed school tuition, a mortgage, three cars, a camper, and a boat through them. And there was nothing they could do- not even refund me for a couple of the six charges at $30 a piece. I was furious! Here is a bank I stick with thinking it is all about caring for their clients and a loyal one, a college student, can't even get their help. On top of that, apparently I had to "sign off" on canceling their "overdraft protection" in order to get my card declined instead... a notice I never received. The overdraft protect, i.e. money maker for them, is automatically applied to your account. While I still have accounts open with them for the convenience now that I am back in Cleveland, I certainly will never take out any loans or credit cards through them and look forward to opening new accounts with a new bank soon.
Turning Into A Regular Bank
Used to be a great credit union 15 years ago. But seems with every new management change, it gets more and more about charging fee's like a regular bank.
Just so management can get up in front of the annual members meeting and say look at how good we done. They don't seem to realize that without MEMBERS, there is no CREDIT UNION, and FEES DRIVE MEMBERS AWAY!!!
Charged Me 60.00 For Being Short 14Cents
You should be a shame to call yourself a Catholic credit union You stink! Can't wait to get away from!
Data as of Q4 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 9208 |
| Year Chartered | 1954 |
| Employees | 50 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.3% |
| Return on Equity - YTD | 9.23% |
| Annual Interest Income | $6.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $217.2MM$203.7MM |
| Loans | Q4 2021vs Q4 2020 | $136.9MM$131.7MM |
| Deposits | Q4 2021vs Q4 2020 | $180.3MM$169.3MM |
| Equity Capital | Q4 2021vs Q4 2020 | $30.1MM$27.6MM |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $1.5MM$1.4MM |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $367.00K$704.00K |
| Real Estate Owned | Q4 2021vs Q4 2020 | $0$0 |