Loc Federal Credit Union
Headquarters
22981 Farmington Rd
Farmington, MI 48336
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2024 Overview
General Credit Union Information
Loc is an NCUA insured institution located in Farmington, MI. It was founded in 1950 and has approximately $327.36 millions in assets.
Who can join?
LOC serves all who live, work, worship and attend school in all of Livingston and SW Oakland Counties
Immediate family members of an LOC Credit Union member are also eligible for membership.
• An immediate family member is defined as a spouse, child, sibling, parent, grandparent, or grandchild.
• Immediate family members include stepparents, stepchildren, stepsiblings, and adoptive relationships.
Membership is also open to anyone
• who shares a household with someone who is currently an LOC member,
• who shares a household with someone eligible for membership or
• related to an immediate family member who is eligible for membership.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 6651 |
| Date Established | 1950 |
| Assets | $327.36 million |
| Loans | $173.43 million |
| Deposits | $306.93 million |
| Capital | $25.75 million |
Field of Membership Restrictions
Must live, work, worship or attend school in Livingston or SW Oakland County and their immediate family members.
Deposit Rates - November 7, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.03% | $100 | - |
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|
|
Money Market
|
0.05% | $2,500 | $9,999 |
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|
|
Money Market
|
0.05% | $10,000 | $49,999 |
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|
|
Premium Money Market Account
|
0.05% | $25,000 | $49,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.30% | $500 | - |
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|
| 12 Mo CD
|
0.50% | $500 | - |
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|
| 18 Mo CD
|
0.50% | $500 | - |
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|
| 24 Mo CD
|
0.60% | $500 | - |
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|
| 36 Mo CD
|
0.70% | $500 | - |
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|
| 48 Mo CD
|
0.80% | $500 | - |
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|
| 60 Mo CD
|
0.90% | $500 | - |
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|
Loan Rates - November 7, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Loc
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: 2262032 License#: RM.804810.000 |
6.391% | 6.250% | 1.00 | $4,800 | $1,971 | Learn More |
NMLS ID: 2578474 |
6.596% | 6.500% | 0.63 | $3,210 | $2,023 | Learn More |
NMLS ID: 1025894 |
6.993% | 6.875% | 1.00 | $3,852 | $2,103 | Learn More |
NMLS ID: 3030 |
7.313% | 7.250% | 0.63 | $2,000 | $2,183 | 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 7.490 % After Intro: 7.490 % |
$0 |
Learn More
More Info |
Note to Loc
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Branches
Below are Loc 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
Loc Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 163.60 | A | View Lobby Hours | |
| 164.35 | B | View Lobby Hours | |
| 173.80 | C | View Lobby Hours | |
| 188.91 | D | View Lobby Hours | |
| 190.94 | E | View Lobby Hours |
Climate Policy and Initiatives
LOC 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
Loc Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Loc. 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
| Loc | U.S. Average |
|---|---|
| 1.01% | 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, Loc had $263,244 in non-current loans and $725 in owned assets. To cover these potential losses it had $25,747,117 in net worth and $492,045 in loans loss reserves. That gives it a Texas Ratio of 1.01%.
Net Worth
| Loc | U.S. Average |
|---|---|
| 8% | 13.93% |
Loc FCU has a net worth of 8% 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 Loc
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