Olean Area Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
1.15%	5-year CD	60 Month CD 1.85% - Synchrony Bank 60 Month CD
0.40%	1-year CD	12-23 Month CD 1.05% - Ally Bank High Yield 12-Month CD
0.35%	Savings	Primary Savings 1.00% - Ally Bank Online Savings Account

View all Olean Area Federal Credit Union rates »

Overview / Commentary

oleanareafcu.org

716-372-6607

1201 Wayne St
Olean, NY 14760

Olean Area Federal Credit Union is headquartered in Olean and is the 41^st largest credit union in the state of New York. It is also the 828^th largest credit union in the nation. It was established in 1972 and as of June of 2016, it had grown to 51 employees and 18,048 members at 2 locations. Olean Area Federal Credit Union's money market rates are 59% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in the City of Olean or the following Cattaraugus County townships: Ellicottville, Franklinville, Lyndon, Ischua, Humphrey, Great Valley, Little Valley, Allegany, Hinsdale, Portville, Olean, Knapp Creek or Weston Mill. Also open to employees of Heritage Cutlery, Inc., a subsidiary of Lunt Silversmiths in Bolivar, New York.
See current membership details

Reviews (1)

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Great Credit Union!

Posted by: Lurch7284 | Sep 13, 2010

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)

Reply

5

Health

A+

Data as of Q2 2016

Learn more about bank health

Health Grade Components

Overall
NCUA #	21083
Year Chartered	1972
Employees	51
Primary Regulator

Profit Margin
Return on Assets - YTD	0.97%
Return on Equity - YTD	6.95%
Annual Interest Income	$3.9MM

Assets and Liabilities
Assets	Q2 2016vs Q2 2015	$259.1MM$251.6MM
Loans	Q2 2016vs Q2 2015	$153.6MM$151.1MM
Deposits	Q2 2016vs Q2 2015	$220.9MM$215.6MM
Equity Capital	Q2 2016vs Q2 2015	$36.2MM$33.4MM
Loan Loss Allowance	Q2 2016vs Q2 2015	$2.7MM$2.7MM
Unbacked Noncurrent Loans	Q2 2016vs Q2 2015	$735.00K$943.00K
Real Estate Owned	Q2 2016vs Q2 2015	$0$112.00K

Rates

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Checking
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Olean Area Federal Credit Union Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.75%	$50	-	Variable IRA
0.75%	$50	-	Variable CESA
0.35%^*	$25k^*	-	Secondary Share Savings
OTHER TIERS: 0.20% → $300 - $25k
0.35%^*	$25k^*	-	Primary Savings
OTHER TIERS: 0.20% → $300 - $25k
0.35%^*	$25k^*	-	Christmas Savings
OTHER TIERS: 0.20% → $25 - $25k
0.35%^*	$25k^*	-	Youth Share Savings
OTHER TIERS: 0.20% → Up to $25k

Olean Area Federal Credit Union Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.70%^*	$100k^*	-	Money Market
OTHER TIERS: 0.20% → $2,500 - $25k \| 0.30% → $25k - $50k \| 0.35% → $50k - $100k

Olean Area Federal Credit Union Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
1.25%	-	$10k	myDividendChecking (Premium Rate)
0.10%	$10k	-	myDividendChecking (Standard Rate)

Olean Area Federal Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.15%	$500	-	60 Month CD
1.10%	$500	-	48-59 Month CD
1.00%	$25	-	12 Month Lucky Saver CD
1.00%	$500	-	15 Month Special CD
1.00%	$500	-	36-47 Month CD
0.75%	$500	-	24-35 Month CD
0.40%	$500	-	12-23 Month CD
0.35%	$500	-	6-11 Month CD
0.25%	$500	-	2-5 Month CD

Olean Area Federal Credit Union IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.15%	$500	-	60 Month IRA
1.10%	$500	-	48-59 Month IRA
1.00%	$500	-	36-47 Month IRA
1.00%	$500	-	15 Month Special IRA
0.75%	$500	-	24-35 Month IRA
0.40%	$500	-	12-23 Month IRA
0.35%	$500	-	6-11 Month IRA
0.25%	$500	-	2-5 Month IRA

Locations

Olean Area Federal Credit Union Locations
Branch Office	1201 Wayne St	Olean, NY 14760
Branch Office	206 N Clark St	Olean, NY 14760