Home
Contents
Explore
Search

Inner Lakes Credit Union

Overview
Back to Top

Inner Lakes Credit Union is a federal credit union based in Westfield, New York. It has been opened since 1952, for 68 years.

With around $91,140,000 in assets, Inner Lakes Credit Union is considered to be a large credit union. It has 5 branches and 3 ATM locations.

About
Address 19-21 E. Main Street
Westfield, New York 14787
Website http://www.innerlakesfcu.org
Phone (716) 326-3858
Fax (716) 326-7550
CEO Travis Heiser
President of the Board William Bills
Services Offered
Map
Back to Top
Score Card
Back to Top
68 years
Years in business
Opened in 1952
Well Capitalized
Net worth classification
Source: NCUA
9,095 members
Membership type: Multiple common bond – primary educational
Above average number of members
395:1
Credit union member to staff ratio
395 per each FTE employee
Compared to 411:1 nationally
Average number of staff
$91,138,353
Total assets
Above average
5 branches
Compared with an average of 4 nationally and 3 in New York
Above average number of branches
0.30%
Savings interest rate
Compared to 0.3% nationally
9.19%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
Back to Top
5 branches
Compared with an average of 4 nationally and 3 in New York
Above average number of branches
Inner Lakes Credit Union Branch Locations

Inner Lakes Credit Union: Dunkirk Office
338 Central Avenue
Dunkirk, New York 14048
No ATM
Inner Lakes Credit Union: 21 Main Street
21 Main Street
Bemus Point, New York 14712
ATM Available
Inner Lakes Credit Union: 3795 Lakeview Road
3795 Lakeview Road
Fredonia, New York 14063
ATM Available
Inner Lakes Credit Union: 19-21 East Main Street
19-21 E. Main Street
Westfield, New York 14787
ATM Available
Members
Back to Top
9,095 members
Membership type: Multiple common bond – primary educational
Above average number of members

With 9,095 members, the Inner Lakes Credit Union is considered to be a large credit union. It is larger than 69% of credit unions.

Fees
Back to Top
$34
Average fee per member
The average fee per member at the Inner Lakes Credit Union is $34, which is low compared to most credit unions. This rate is lower than 62% 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 Inner Lakes Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
Back to Top
395:1
Credit union member to staff ratio
395 per each FTE employee
Compared to 411:1 nationally
Average number of staff
23 staff members
FTE (full-time equivalent)
8% of employees are part-time
22 full-time, 2 part-time

Inner Lakes Credit Union has 22 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 92% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Inner Lakes Credit Union has around 395 members per staff, an average ratio compared to other credit unions. This is a somewhat well staffed credit union.

Assets
Back to Top
$91,138,353
Total assets
Above average
Net worth
Back to Top
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.
8.1%
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
Back to Top
$8,794
Average loan and lease size
Loan & lease sizes are small. They are smaller than at 62% of credit unions.

Inner Lakes Credit Union holds a total of $37,730,000 in loans and leases, which is about $8,794 per member on average.

Savings interest rate
Back to Top
0.30%
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. Inner Lakes Credit Union pays 0.30%.

Loan rates
Back to Top
9.19%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
9.60%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
7.66%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
Back to Top
3.23%
New car loan rate
Compared to 4.0% nationally
4.57%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
Back to Top
4.91%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.13%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
Stratton Air National Guard Credit Union
Location
Scotia, New York
Members
839
Assets
Net Worth Classification
Well Capitalized
Average Fee
Read More
Saratoga's Community Credit Union
Location
Saratoga Spring, New York
Members
5,865
Assets
Net Worth Classification
Adequately Capitalized
Average Fee
Credit Card Loan Interest Rate
7.38%
Read More
O And R Utilities Employees Credit Union
Location
Monroe, New York
Members
1290
Assets
Net Worth Classification
Well Capitalized
Average Fee
Read More
Community Resource Credit Union
Location
Latham, New York
Members
7,065
Assets
Net Worth Classification
Well Capitalized
Average Fee
Read More
Olean Teachers' And Postal Credit Union
Location
Olean, New York
Members
1941
Assets
Net Worth Classification
Well Capitalized
Average Fee
Read More
Utica Gas & Electric Emp Credit Union
Location
New Hartford, New York
Members
2914
Assets
Net Worth Classification
Well Capitalized
Average Fee
Credit Card Loan Interest Rate
13.75%
Read More