Olean Area Federal Credit Union
Olean Area Federal Credit Union is headquartered in Olean and is the 39th largest credit union in the state of New York. It is also the 835th largest credit union in the nation. It was established in 1972 and as of June of 2023, it had grown to 82 employees and 20,248 members at 5 locations. Olean Area Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Olean Area Federal Credit Union is open to those who live, work, worship, or attend school in the New York counties of Allegany or Cattaraugus, or the Pennsylvania counties of McKean or Potter. Businesses and organizations in those counties are also eligible. Immediate family and household members of current members also qualify for membership.
See current membership details
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All around Winner
I recently joined the OAFCU, and my experience has been nothing less than stellar from the beginning. I have used many online banking and associated apps before, and these guys take the cake. Their check deposit feature is smooth, quick and effortless. Transferring from checking and savings accounts is a breeze and easy to decipher. Everything is quick and easy, the rates and services are the best i have ever encountered. And unique to them, not personally tried yet, but you can apply for a personal loan right from the mobile site. I would recommend to anyone
Great Credit Union!
I've been a member for most of my life and I've always been pleased with the service. I plan to keep my money here in the future. Great rates on auto loans!
That said, there are some improvements that could be made (as of 9/13/10):
1) Interest Rates seem low compared with other credit unions and banks
2) Online banking system works, but could be improved.
3) Incompatible with Mint.com
4) Poor hours for members who work normal 9-5 jobs (only open from 8:30 to 5:30 M-F)
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 21083 |
| Year Chartered | 1972 |
| Employees | 82 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.55% |
| Return on Equity - YTD | 6.84% |
| Annual Interest Income | $6.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $402.0MM$405.3MM |
| Loans | Q2 2023vs Q2 2022 | $197.1MM$179.7MM |
| Deposits | Q2 2023vs Q2 2022 | $366.8MM$366.0MM |
| Equity Capital | Q2 2023vs Q2 2022 | $32.7MM$37.2MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$2.6MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $804.00K$406.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |