Lormet Community Federal Credit Union

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A short history of Lormet Community FCU

Since its inception in 1936 the Lormet Community Federal Credit Union has been serving its members in the Amherst, Ohio area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by Daniel Cwalina, the Lormet Community FCU has grown its membership to over 18,778 with assets of more than $158,223,185. They have a main office and 4 branch offices. Please see the credit unions website or contact them by phone at (440) 960-6600 or email them at memberservice@lormet.com to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in Amherst, OH.

General Information For Lormet Community FCU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 24637
Address 2051 Cooper Foster Park Rd 
City Amherst 
State Ohio 
Zip-Code 44001
Phone Number (440) 960-6600
Fax Number (440) 960-6640
Email Address: memberservice@lormet.com
CEO/President Daniel Cwalina
Members 18,778 
Full-Time Employees 33 
Part-Time Employees
Number of Branch Offices
Total Assets 158,223,185 
Website http://lormet.com 

Compare Lormet Community Federal Credit Union To Other Local Credit Unions


Credit Union Name
Branch Name
Address
Zip Code
Phone Number
ATM Access
Distance (Miles)
School Employees Lorain County CU School Employees Lorain County Credit Union - Elyria, OH 340 Griswold Rd 44035 (440) 324-3400 No 8.10
Community Star CU Edco Branch 7660 Leavitt Rd 44035 (440) 984-4878 No 9.67
Lakeshore Community CU Lakeshore Community Credit Union, Inc. 30400 Detroit Rd 44145 (440) 892-6880 No 13.69
The Catholic CU THE CATHOLIC CREDIT INC. MAIN OFFICE 32929 LAKE RD 44012 (440) 933-2524 No 15.47
North Olmsted Schools CU Main Office 30129 Lorain Rd 44070 (440) 777-2009 No 15.97

Lormet Community Federal Credit Union Financial Performance Charts


Performance Charts

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Financial Data


Lormet Community Federal Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 9.75 3.89 4.14 6.15 4.00
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 227 261 218 384 100
Rank Among All Ohio Credit Unions 34 79 45 88 13

Lormet Community Federal Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate N/A 0.10 0.10 0.20 0.25
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions N/A 129 134 318 266
Rank Among All Ohio Credit Unions N/A 22 38 95 66
Lormet Community Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 9.7502,2033,543,228
All Other Unsecured Loans/Lines of Credit 5.9006601,484,962
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 3.8903,00053,726,247
Used Vehicle Loans 4.1403,51239,571,524
Total 1st Mortgage Real Estate Loans/Lines of Credit 6.15023915,384
Total Other Real Estate Loans/Lines of Credit 4.0002153,742,442
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 3.8902304,365,042
TOTAL LOANS & LEASES 9,843107,348,829

Lormet Community Federal Credit Union Real Estate Loans and Lines of Credit

REAL STATE LOANS FIRST MORTGAGE

No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 13691,25300
    b. 15 Years or less 10224,13100
Balloon/Hybrid
    a. > 15 years 0000
    b. 15 Years or less 0000
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 0000
Adjustable Rate > 1 yr 0000

OTHER REAL ESTATE

Closed-End Fixed Rate 861,251,234125,000
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 1292,491,20814515,033
Open-End Fixed Rate 0000
TOTALS 2384,657,82615540,033

MISCELLANEOUS REAL ESTATE LOANS/LINES OF CREDIT INFORMATION

Interest Only & Payment Option 1st Mortgage Loans 000
Interest Only & Payment Option Other RE/LOC Loans 000
REVERSE MORTGAGES
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Lormet Community Federal Credit Union Member Offerings
First Time Homebuyer Program No
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards No
Overdraft Protection/Courtesy Pay Yes
Overdraft Lines of Credit No
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans No
Check Cashing Yes
Money Orders Yes
No Surcharge ATMs Yes
Home Banking Via Internet Website Yes