Seven Seventeen Credit Union is headquartered in Warren and is the 5th largest credit union in the state of Ohio. It is also the 292nd largest credit union in the nation. It was established in 1957 and as of June of 2023, it had grown to 319 employees and 111,145 members at 14 locations. Seven Seventeen Credit Union's money market rates are 9X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Seven Seventeen Credit Union to all Ohio residents through membership in the American Consumer Council. Those who live, work, worship, or attend school in the Ohio counties of Columbiana, Mahoning, Portage, Stark, Summit, or Trumbull also qualify for membership. Relatives of a current member are also eligible to join.
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Seven Seventeen Credit Union
I was hesitant to leave the bank my parents had had me with for my whole life, but when I was eighteen I decided to join Seven Seventeen Credit Union. What convinced me was their WOW account, which was for young people, specifically students. Through WOW, you open up a checking and savings account, however, while in normal programs you would get 1% back from your savings, you get around 3% back in your checking instead (Those were the percentages when I joined, anyway). So I hardly use my savings account because I get more back from my checking, but I think it's really great that they have specific plans for students and young people to kind of get their feet in the door of the world. I also signed my niece and nephew up for children's savings accounts there and they earn rewards (little toys and whatnot) for every certain amount that they save. They also have tons of scholarship opportunities and other programs to help people out, which is totally unlike anything I experienced at my previous bank. Recently they had a sweepstakes for anyway with a WOW account who deposited $10 into their savings. Plus, they're really high-tech and convenient and their employees are always super available, helpful, and friendly. In five years I've never had a problem there.
Seven Seventeen Credit Union is a Great Bank!
My first bank was the Seven Seventeen Credit Union, based out of Warren, Ohio. I always had positive experiences banking with SSCU. The tellers at my local branch all knew me by name. I maintained a basic free checking and savings account for almost 10 years there. They offered service fee free ATMs and fee free accounts. At the time they also offered service fee free overdraft protection. If you overdrew your checking account then they would transfer money from savings. If you did not have the money in savings, they gave you a 24 hour grace period to bring your account current. The only reason I switched was because I moved and no longer had access to local ATMs and locations. The only downside when I was banking at SSCU was that they did not offer some of the same interest bearing savings accounts that larger Savings and Loan type bank might. At the time, their online tool was also a little clunky, but this was in the early days of online banking, and they may have improved their services since then.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 61077 |
| Year Chartered | 1957 |
| Employees | 319 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.89% |
| Return on Equity - YTD | 7.07% |
| Annual Interest Income | $35.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.59B$1.42B |
| Loans | Q2 2023vs Q2 2022 | $1.33B$1.15B |
| Deposits | Q2 2023vs Q2 2022 | $1.28B$1.21B |
| Equity Capital | Q2 2023vs Q2 2022 | $198.5MM$188.7MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$3.4MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $5.9MM$3.3MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
