Genfed Federal Credit Union
Headquarters
2492 Wedgewood Dr, Suite G
Akron, OH 44312
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2024 Overview
General Credit Union Information
Genfed is an NCUA insured institution located in Akron, OH. It was founded in 1937 and has approximately $174.83 millions in assets.
Who can join?
GenFed membership is now open to anyone who:
• Resides, works, attends school, volunteers or worships in Lorain County, Ohio.
• Resides, works, attends school, volunteers or worships in Summit County, Ohio.
• Resides, works, attends school, volunteers or worships in Erie County, Ohio.
• Resides, works, attends school, volunteers or worships Medina County, Ohio.
• Resides, works, attends school, volunteers or worships in Williams County, Ohio.
• Resides, works, attends school, volunteers or worships in Paulding County, Ohio.
• Resides, works, attends school, volunteers or worships in Marion County, Illinois.
• Resides, works, attends school, volunteers or worships in Jefferson County, Illinois.
• Resides or works in Shelby County, Indiana.
• In addition to those above, employees and their families of the business listed on GedFed’s Company Lists are eligible for GenFed membership.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 2494 |
| Date Established | 1937 |
| Assets | $174.83 million |
| Loans | $105.87 million |
| Deposits | $145.75 million |
| Capital | $27.97 million |
Field of Membership Restrictions
GenFed Financial Credit Union of Ohio is open to the residents, church members, registered students, community volunteers, and the people that maintain employment within the qualified locations of Ohio, Illinois, and Indiana that are listed on the credit union website along with the employees of the partner companies and employee groups that are listed on the credit union website.
Deposit Rates - November 21, 2024
Your Current Location: Ohio, OH 43085
We do not yet have rates for Genfed
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Loan Rates - November 21, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Genfed
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 2578474 |
6.494% | 6.375% | 0.88 | $4,010 | $1,997 | Learn More |
NMLS ID: 1025894 |
6.955% | 6.875% | 0.63 | $2,594 | $2,103 | Learn More |
NMLS ID: 3030 |
7.325% | 7.250% | 0.75 | $2,400 | $2,183 | Learn More |
NMLS ID: 3029 |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR 7.240 % After Intro: 7.240 % |
$0 |
Learn More
More Info |
Note to Genfed
To upload and update your bank's rates please register.
It is free to register and add rates.
Branches
Below are Genfed branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Genfed Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|
Climate Policy and Initiatives
GENFED is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Genfed Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Genfed. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Genfed | U.S. Average |
|---|---|
| 3.02% | 5.83 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of June 30, 2024, Genfed had $855,929 in non-current loans and $0 in owned assets. To cover these potential losses it had $27,965,124 in net worth and $383,452 in loans loss reserves. That gives it a Texas Ratio of 3.02%.
Net Worth
| Genfed | U.S. Average |
|---|---|
| 15.99% | 13.93% |
Genfed FCU has a net worth of 15.99% versus the BestCashCow average of 13.93. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Genfed
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