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School Employees Lorain County Credit Union
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School Employees Lorain County Credit Union Share
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Overview Share
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School Employees Lorain County Credit Union is a non-federally insured state credit union based in Elyria, Ohio. It has been opened since 1958, for 64 years.

With around $149,550,000 in assets, School Employees Lorain County Credit Union is considered to be a large credit union. It has 2 branches and 2 ATM locations.

About Share
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Address 340 Griswold Road
Elyria, Ohio 44035
Website http://www.selccu.org
Phone (440) 324-3400
Fax (440) 324-3291
CEO Neil R. Sommers
President of the Board Andrew Lingler
Services Offered
Score Card Share
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64 years
Years in business
Opened in 1958
Well Capitalized
Net worth classification
Source: NCUA
12,440 members
Membership type: State chartered natural person credit union
Above average number of members
327:1
Credit union member to staff ratio
327 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$149,546,436
Total assets
Above average
2 branches
Compared with an average of 4 nationally and 3 in Ohio
Above average number of branches
0.05%
Savings interest rate
Compared to 0.3% nationally
8.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches Share
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2 branches
Compared with an average of 4 nationally and 3 in Ohio
Above average number of branches
School Employees Lorain County Credit Union Branch Locations
Members Share
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12,440 members
Membership type: State chartered natural person credit union
Above average number of members

With 12,440 members, the School Employees Lorain County Credit Union is considered to be a large credit union. It is larger than 74% of credit unions.

Fees Share
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$85
Average fee per member
The average fee per member at the School Employees Lorain County Credit Union is $85, which is high compared to most credit unions. This rate is higher than 77% of all credit unions.
Fees are higher 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 School Employees Lorain County Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff Share
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327:1
Credit union member to staff ratio
327 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
38 staff members
FTE (full-time equivalent)
5% of employees are part-time
37 full-time, 2 part-time

School Employees Lorain County Credit Union has 37 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 95% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. School Employees Lorain County Credit Union has around 327 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets Share
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$149,546,436
Total assets
Above average
Net worth Share
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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.
12.1%
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 Share
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$6,430
Average loan and lease size
Loan & lease sizes are very small. They are smaller than at 82% of credit unions.

School Employees Lorain County Credit Union holds a total of $56,430,000 in loans and leases, which is about $6,430 per member on average.

Savings interest rate Share
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0.05%
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. School Employees Lorain County Credit Union pays 0.05%.

Loan rates Share
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8.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
9.95%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
6.59%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates Share
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4.39%
New car loan rate
Compared to 4.0% nationally
4.39%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates Share
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5.25%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
5.49%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally

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