Loc Federal Credit Union

Headquarters

22981 Farmington Rd
Farmington, MI 48336
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Notable Rates APY Vs.Others
Savings 0.03% 5.55% →
1-Year CD 0.50% 5.41% →
2-Year CD 0.60% 5.00% →
5-Year CD 0.90% 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

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 - April 18, 2024

Your Current Location: Ohio, OH 43085

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Savings
0.03% $100 - Learn More
Money Market
0.05% $2,500 $9,999 Learn More
Money Market
0.05% $10,000 $49,999 Learn More
Premium Money Market Account
0.05% $25,000 $49,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
6 Mo CD
0.30% $500 - Learn More
12 Mo CD
0.50% $500 - Learn More
18 Mo CD
0.50% $500 - Learn More
24 Mo CD
0.60% $500 - Learn More
36 Mo CD
0.70% $500 - Learn More
48 Mo CD
0.80% $500 - Learn More
60 Mo CD
0.90% $500 - Learn More

Loan Rates - April 18, 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
Neighbors Bank
NMLS ID: 491986
Learn More
MortgageResearch.com
NMLS ID: Not a Lender
Learn More
FHAloans.com
NMLS ID: Not a Lender
Learn More

Featured - Ohio Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.490 %
$0 Learn More
More Info

Note to Loc
To upload and update your bank's rates please register. It is free to register and add rates.

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



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% 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, 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% 13.62%

Loc FCU has a net worth of 8% 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 Loc

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