Olean Area Federal Credit Union

Overview / Commentary
1201 Wayne St
Olean, NY 14760

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

Reviews (2)

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!

Posted by: |

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)


Health Grade Components

NCUA #21083
Year Chartered1972
Primary Regulator
Profit Margin
Return on Assets - YTD0.55%
Return on Equity - YTD6.84%
Annual Interest Income$6.8MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$402.0MM$405.3MM
LoansQ2 2023vs Q2 2022$197.1MM$179.7MM
DepositsQ2 2023vs Q2 2022$366.8MM$366.0MM
Equity CapitalQ2 2023vs Q2 2022$32.7MM$37.2MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$2.6MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$804.00K$406.00K
Real Estate OwnedQ2 2023vs Q2 2022$0$0

Sorry, we do not have rate data for Olean Area Federal Credit Union.


Olean Area Federal Credit Union Locations
Branch Office1201 Wayne StOlean, NY 14760
Branch Office206 N Clark StOlean, NY 14760
Branch Office180 W Main StAllegany, NY 14706
Branch Office160 S Main StPortville, NY 14770
Corporate Office234 Homer StOlean, NY 14760

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