Olean Area Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	HOW THEY COMPARE
2.25%	Reward Checking	2.11% - National Average
1.50%	5-year CD	3.10% - Barclays 60 Month Online CD
0.75%	1-year CD	2.75% - Barclays 12 Month Online 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 41^st largest credit union in the state of New York. It is also the 826^th largest credit union in the nation. It was established in 1972 and as of September of 2018, it had grown to 57 employees and 18,991 members at 3 locations. Olean Area Federal Credit Union's money market rates are 82% 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 (2)

Write a Review

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

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

Health

A+

Data as of Q3 2018

Learn why bank health matters

Health Grade Components

Overall
NCUA #	21083
Year Chartered	1972
Employees	57
Primary Regulator

Profit Margin
Return on Assets - YTD	1.52%
Return on Equity - YTD	10.44%
Annual Interest Income	$7.4MM

Assets and Liabilities
Assets	Q3 2018vs Q3 2017	$290.3MM$267.8MM
Loans	Q3 2018vs Q3 2017	$173.9MM$162.6MM
Deposits	Q3 2018vs Q3 2017	$247.1MM$227.1MM
Equity Capital	Q3 2018vs Q3 2017	$42.3MM$39.1MM
Loan Loss Allowance	Q3 2018vs Q3 2017	$2.7MM$2.4MM
Unbacked Noncurrent Loans	Q3 2018vs Q3 2017	$851.00K$703.00K
Real Estate Owned	Q3 2018vs Q3 2017	$0$206.00K

Rates

Skip to rates for:

Savings
Money Market
Checking
CD
IRA

Report an Issue

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
0.40%^*	$25k^*	-	Primary Savings
OTHER TIERS: 0.20% → $300 - $25k
0.40%^*	$25k^*	-	Christmas Savings
OTHER TIERS: 0.20% → $5 - $25k
0.40%^*	$25k^*	-	Youth Share Savings
OTHER TIERS: 0.20% → $5 - $25k

Olean Area Federal Credit Union Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.80%^*	$100k^*	-	Money Market
OTHER TIERS: 0.25% → $2.5k - $10k \| 0.30% → $10k - $25k \| 0.35% → $25k - $50k \| 0.45% → $50k - $100k

Olean Area Federal Credit Union Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
2.25%^*	$300^*	$10k	myDividendChecking
OTHER TIERS: 0.10% → $10k+

Olean Area Federal Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
2.05%	$500	-	30 Month Special CD
1.50%	$500	-	13 Month Special CD
1.50%	$500	-	60 Month CD
1.25%	$500	-	48-59 Month CD
1.15%	$500	-	36-47 Month CD
1.00%	$25	-	12 Month Lucky Saver CD
1.00%	$500	-	24-35 Month CD
0.75%	$500	-	12-23 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
2.05%	$500	-	30 Month IRA Special
1.50%	$500	-	60 Month IRA
1.50%	$500	-	13 Month IRA Special
1.25%	$500	-	48-59 Month IRA
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
Branch Office	180 W Main St	Allegany, NY 14706

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.