GENFED FINANCIAL CREDIT UNION - Lorain, OH

Welcome to Genfed Financial, your trusted partner in financial wellness located at 5320 Oberlin Ave, Lorain, OH 44053. Since our establishment in 1937, we have proudly served our community with dedication and integrity. With a robust membership of over 25,000 individuals, we strive to make every member feel valued and empowered in their financial journey. At Genfed Financial, we believe that strong communities are built on solid relationships. That's why our focus is not just on providing exceptional banking services but also on fostering a sense of belonging among our members. With total assets of $318,623,056 and total deposits reaching $52,106,084, we ensure your hard-earned money is secure while offering competitive rates for savings and loans. Our offerings include everything from personal banking solutions like checking and savings accounts to specialized services such as auto loans and mortgages. As of now, we have facilitated an impressive 13,797 loans to help our members achieve their dreams. Whether you're looking for a new vehicle or planning to consolidate debt, we're here to guide you through every step. Led by CEO Michael Doran and Board President Joyce Jones, our team of 84 employees is committed to making your banking experience smooth and personalized. We know that managing finances can be overwhelming at times; that's why our dedicated staff is always ready to provide assistance when you need it most. While you can visit us directly at our branch in Lorain for all your financial needs, please note that any official correspondence should be sent to the same address: 5320 Oberlin Ave, Lorain, OH 44053. Feel free to reach out at 440-828-1660 or explore more about our services at Genfed Financial. We're excited to help you take the next step towards achieving your financial goals!

Joining Genfed Financial is like stepping into a welcoming community that truly cares about its members. To become a part of our family, you need to meet some simple eligibility criteria. Generally, anyone who lives, works, or worships in the area can join us! We believe in inclusivity and strive to make our membership accessible to everyone. If you're curious about the specifics or want to see if you qualify, feel free to check out the details at . Opening an account with us is a breeze! You can start the process by visiting us at our branch located at 5320 Oberlin Ave Lorain Oh 44053, or simply give us a call at (440) 828-1660. We're here to help guide you through each step, ensuring your experience is smooth and friendly. Your journey toward financial empowerment begins here, and we can't wait to welcome you as a member of Genfed Financial!

At Genfed Financial, financial security is not just a goal it's a promise. Our members count on us for stability, and we take that responsibility seriously. We pride ourselves on our strong financial foundation, which is reflected in our operations and member services. With a net worth of $50,084,375, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of 15.71% demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times. Members' savings are secured through $48,355,787 in share certificates and $41,498,809 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $0, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks. With $39,845,209 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. Our lending capacity supports members' financial goals across various sectors with $4,375 in used auto loans and a total of $212,449,141 in loans and leases. Our operational efficiency is reflected in our net income of $0, enabling us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 78 full-time employees and 6 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable and committed team. Total Share Accounts stand at 51,093, showing a strong and growing member base that trusts us with their finances. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Genfed Financial is your trusted partner. Visit us at 5320 Oberlin Ave Lorain Oh 44053 or call 440-828-1660 to learn more about how we can help you achieve your financial goals. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov , based on the latest results.