Fairmont Federal Credit Union
Headquarters
Po Box 2139
Fairmont, WV 26555
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2024 Overview
General Credit Union Information
Fairmont is an NCUA insured institution located in Fairmont, WV. It was founded in 1939 and has approximately $487.41 millions in assets.
Who can join?
Eligibility Requirements
In Marion, Monongalia, Harrison and Taylor counties:
Persons who live, work, worship volunteer or go to school in, and businesses and other legal entities located within these counties.
In Preston County:
Employees of Valley Health Care
Immediate Family Eligibility Requirements
Anyone in the immediate family of an eligible member may join a Credit Union even if the eligible member does not join. Immediate family members include: spouse, parent, child, sibling, grandparent and grandchild. Adoptive and step-relationships are also included in the definition.
Household Eligibility Requirements
People living in the same residence or maintaining a single economic unit with an eligible member may join only if the eligible member actually belongs to the Credit Union. Household members include domestic partners, roommates, family members and legal guardian relationships. The definition excludes temporary residents and residents of boarding houses, frat houses and condominium complexes. Once a member joins the Credit Union, regardless of what category made them eligible for membership, their immediate families and their households also become eligible to join.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 3439 |
| Date Established | 1939 |
| Assets | $487.41 million |
| Loans | $349.13 million |
| Deposits | $442.29 million |
| Capital | $47.49 million |
Field of Membership Restrictions
Membership is open to those who live or work in Marion, Monongalia, Harrison and Taylor Counties and several select employee groups (SEGs) in Preston County of West Virginia.
Deposit Rates - April 25, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.10% | $2,500 | $4,999 |
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|
|
Money Market
|
0.15% | $2,500 | $2,999 |
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|
|
Money Market
|
0.25% | $10,000 | $14,999 |
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|
|
Money Market
|
0.35% | $25,000 | $29,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.15% | $10,000 | $14,999 |
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|
| 6 Mo CD
|
0.40% | $100,000 | $199,999 |
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|
| 12 Mo CD
|
0.60% | $10,000 | $14,999 |
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|
| 12 Mo CD
|
0.85% | $100,000 | $199,999 |
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|
| 24 Mo CD
|
0.80% | $10,000 | $14,999 |
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|
| 24 Mo CD
|
1.05% | $100,000 | $199,999 |
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|
| 48 Mo CD
|
0.75% | $10,000 | $14,999 |
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|
| 48 Mo CD
|
1.00% | $100,000 | $199,999 |
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|
| 60 Mo CD
|
1.00% | $10,000 | $14,999 |
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|
| 60 Mo CD
|
1.25% | $100,000 | $199,999 |
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|
| Variable IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Var IRA
|
0.50% | $1 | $499 | Learn More |
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Int Ckg
|
0.10% | $1 | $99 | Learn More |
| Int Ckg
|
0.25% | $2,500 | $3,499 | Learn More |
Loan Rates - April 25, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Fairmont
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: 2059741 |
6.905% | 6.750% | 1.00 | $5,094 | $2,076 | Learn More |
NMLS ID: 3030 |
7.451% | 7.375% | 0.75 | $2,400 | $2,211 | Learn More |
NMLS ID: 1907 |
Learn More | |||||
NMLS ID: 491986 |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Fairmont
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Branches
Below are Fairmont 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
Climate Policy and Initiatives
FAIRMONT 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
Fairmont Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Fairmont. 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
| Fairmont | U.S. Average |
|---|---|
| 12.14% | 6.97 |
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 December 31, 2023, Fairmont had $5,371,084 in non-current loans and $425,973 in owned assets. To cover these potential losses it had $47,486,532 in net worth and $275,017 in loans loss reserves. That gives it a Texas Ratio of 12.14%.
Net Worth
| Fairmont | U.S. Average |
|---|---|
| 9.96% | 13.62% |
Fairmont FCU has a net worth of 9.96% versus the BestCashCow average of 13.62. 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 Fairmont
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