Olean Area Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
2.00%	Reward Checking	myDividendChecking 1.82% - National Average
1.50%	5-year CD	60 Month CD 2.35% - Synchrony Bank 60 Month CD
0.75%	1-year CD	12-23 Month CD 1.40% - Synchrony Bank 12 Month CD

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 42^nd largest credit union in the state of New York. It is also the 829^th largest credit union in the nation. It was established in 1972 and as of March of 2017, it had grown to 52 employees and 17,802 members at 2 locations. Olean Area Federal Credit Union's money market rates are 70% higher than the national average, and it has 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 (2)

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Featured Account Options

All around Winner

Posted by: Oleanborn01 | Nov 8, 2016

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

Comment

1

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)

Comment

5

Health

A

Data as of Q1 2017

Learn why bank health matters

Health Grade Components

Overall
NCUA #	21083
Year Chartered	1972
Employees	52
Primary Regulator

Profit Margin
Return on Assets - YTD	0.97%
Return on Equity - YTD	6.82%
Annual Interest Income	$2.0MM

Assets and Liabilities
Assets	Q1 2017vs Q1 2016	$267.8MM$260.5MM
Loans	Q1 2017vs Q1 2016	$155.5MM$148.5MM
Deposits	Q1 2017vs Q1 2016	$228.5MM$223.0MM
Equity Capital	Q1 2017vs Q1 2016	$37.8MM$35.4MM
Loan Loss Allowance	Q1 2017vs Q1 2016	$2.5MM$2.7MM
Unbacked Noncurrent Loans	Q1 2017vs Q1 2016	$648.00K$677.00K
Real Estate Owned	Q1 2017vs Q1 2016	$47.00K$0

Rates

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Money Market
Checking
CD
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Always verify rates and promotions with the bank or credit union. We are not Olean Area 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.

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^*	-	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
0.75%^*	$100k^*	-	Money Market
OTHER TIERS: 0.25% → $2,500 - $10k \| 0.30% → $10k - $25k \| 0.35% → $25k - $50k \| 0.40% → $50k - $100k

Olean Area Federal Credit Union Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
2.00%^*	$10k^*	-	myDividendChecking
OTHER TIERS: 0.10% → Up to $10k

Olean Area Federal Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.60%	$500	-	25 Month Special CD
1.50%	$500	-	60 Month CD
1.25%	$500	-	48-59 Month CD
1.25%	$500	-	14 Month Special CD
1.15%	$500	-	36-47 Month CD
1.00%	$25	-	12 Month Lucky Saver CD
0.75%	$500	-	12-23 Month CD
0.75%	$500	-	24-35 Month CD
0.50%	$500	-	6-11 Month CD
0.25%	$500	-	2-5 Month CD

Olean Area Federal Credit Union IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.60%	$500	-	25 Month IRA Special
1.50%	$500	-	60 Month IRA
1.25%	$500	-	48-59 Month IRA
1.25%	$500	-	14 Month IRA Special
1.15%	$500	-	36-47 Month IRA
1.00%	$500	-	24-35 Month IRA
0.75%	$500	-	12-23 Month IRA
0.50%	$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