Olean Area Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.25% | Reward Checking | 1.75% - National Average |
| 1.50% | 5-year CD | |
| 0.75% | 1-year CD |
Olean Area Federal Credit Union is headquartered in Olean and is the 40th largest credit union in the state of New York. It is also the 826th largest credit union in the nation. It was established in 1972 and as of December of 2018, it had grown to 58 employees and 18,913 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
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!
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)
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 21083 |
| Year Chartered | 1972 |
| Employees | 58 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.43% |
| Return on Equity - YTD | 9.56% |
| Annual Interest Income | $10.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $292.5MM$269.2MM |
| Loans | Q4 2018vs Q4 2017 | $174.6MM$161.7MM |
| Deposits | Q4 2018vs Q4 2017 | $247.8MM$227.9MM |
| Equity Capital | Q4 2018vs Q4 2017 | $43.7MM$39.6MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $2.7MM$2.4MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $723.00K$612.00K |
| Real Estate Owned | Q4 2018vs Q4 2017 | $140.00K$200.00K |
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.
Olean Area Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 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 | VIEW DETAILS |
|---|---|---|---|---|
| 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 | VIEW DETAILS |
|---|---|---|---|---|
| 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 |
| 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 |