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Erie Firefighters Credit Union

Overview
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Erie Firefighters Credit Union is a federal credit union based in Erie, Pennsylvania. It has been opened since 1953, for 67 years.

With around $9,410,000 in assets, Erie Firefighters Credit Union is considered to be a medium size credit union.

About
Address 3204 Maple Street
Erie, Pennsylvania 16508
Website http://www.eriefirefightersfcu.com
Phone (814) 452-4898
Fax (814) 452-0728
CEO Jennifer M. Swarm
President of the Board Ray Welch Iii
Services Offered
Map
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Score Card
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67 years
Years in business
Opened in 1953
Well Capitalized
Net worth classification
Source: NCUA
773 members
Membership type: Federal, State, Local Government
Below average number of members
386:1
Credit union member to staff ratio
386 per each FTE employee
Compared to 411:1 nationally
Average number of staff
$9,414,613
Total assets
Below average
1 branch
Compared with an average of 4 nationally and 3 in Pennsylvania
Average number of branches
0.40%
Savings interest rate
Compared to 0.3% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 3 in Pennsylvania
Average number of branches
Erie Firefighters Credit Union Branch Locations
Members
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773 members
Membership type: Federal, State, Local Government
Below average number of members

With 773 members, the Erie Firefighters Credit Union is considered to be a very small credit union. It is among the smallest credit unions and is smaller than 85% of credit unions.

Fees
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$19
Average fee per member
The average fee per member at the Erie Firefighters Credit Union is $19, which is low compared to most credit unions. This rate is lower than 73% of all credit unions.
Fees are lower than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Erie Firefighters Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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386:1
Credit union member to staff ratio
386 per each FTE employee
Compared to 411:1 nationally
Average number of staff
2 staff members
FTE (full-time equivalent)
0% of employees are part-time
2 full-time, 0 part-time

Erie Firefighters Credit Union has 2 full-time staff members and 0 part-time staff members.

The number of members relative to staff members is an indication of how well staffed the credit union is. Erie Firefighters Credit Union has around 386 members per staff, an average ratio compared to other credit unions. This is a somewhat well staffed credit union.

Assets
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$9,414,613
Total assets
Below average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
8.9%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$10,421
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 53% of credit unions.

Erie Firefighters Credit Union holds a total of $2,680,000 in loans and leases, which is about $10,421 per member on average.

Savings interest rate
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0.40%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Erie Firefighters Credit Union pays 0.40%.

Loan rates
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7.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
6.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.00%
New car loan rate
Compared to 4.0% nationally
5.00%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.90%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally