Olean Area Federal Credit Union is headquartered in Olean and is the 42nd largest credit union in the state of New York. It is also the 828th largest credit union in the nation. It was established in 1972 and as of September of 2020, it had grown to 64 employees and 19,287 members at 4 locations. Olean Area Federal Credit Union has an A+ health rating.
Olean Area Federal Credit Union is open to anyone who lives, works, worships, or goes to school in the City of Olean or the Cattaraugus County townships of Allegany, Ellicottville, Franklinville, Great Valley, Hinsdale, Humphrey, Ischua, Knapp Creek, Little Valley, Lyndon, Olean, Portville, or Weston Mills. Immediate family and household members may also join.
See current membership details
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
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)
Overall | |
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NCUA # | 21083 |
Year Chartered | 1972 |
Employees | 64 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.57% |
Return on Equity - YTD | 3.9% |
Annual Interest Income | $7.8MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q3 2020vs Q3 2019 | $342.2MM$300.4MM |
Loans | Q3 2020vs Q3 2019 | $190.2MM$176.8MM |
Deposits | Q3 2020vs Q3 2019 | $290.9MM$252.0MM |
Equity Capital | Q3 2020vs Q3 2019 | $49.6MM$47.4MM |
Loan Loss Allowance | Q3 2020vs Q3 2019 | $2.9MM$2.8MM |
Unbacked Noncurrent Loans | Q3 2020vs Q3 2019 | $415.00K$767.00K |
Real Estate Owned | Q3 2020vs Q3 2019 | $89.00K$63.00K |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.30%* | $100k* | - | Money Market | ||
OTHER TIERS: 0.10% → $2.5k - $25k | 0.15% → $25k - $50k | 0.20% → $50k - $100k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
2.00%* | $300* | $10k | myDividendChecking | ||
OTHER TIERS: 0.10% → $10k+ |
Olean Area Federal Credit Union Locations | ||
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Branch Office | 1201 Wayne St | Olean, NY 14760 |
Branch Office | 206 N Clark St | Olean, NY 14760 |
Branch Office | 180 W Main St | Allegany, NY 14706 |
Branch Office | 160 S Main St | Portville, NY 14770 |