2020 Overview
General Credit Union Information
Olean Area is an NCUA insured institution located in Olean, NY. It was founded in 1972 and has approximately $300.44 millions in assets.
Who can join?
Persons who live, work, worship, or attend school in the City of Olean and the following Cattaraugus County townships: Ellicottville, Franklinville, Lyndon, Ischua, Humphrey, Great Valley, Little Valley, Allegany, Hinsdale, Portville, Olean, Knapp Creek, and Weston Mills. Also, employees of Heritage Cutlery, Inc., a subsidiary of Lunt Silversmiths, who work in Bolivar, New York, are eligible for membership.
| NCUA Insured | Yes |
| Charter Number # | # 21083 |
| Date Established | 1972 |
| Assets | $300.44 million |
| Loans | $176.83 million |
| Deposits | $252.05 million |
| Capital | $46.55 million |
Field of Membership Restrictions
Deposit Rates - June 4, 2020
Your Current Location: Connecticut, CT 06828
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.10% | $300 | $9,999 |
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|
Money Market
|
0.10% | $2,500 | $9,999 |
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|
|
Money Market
|
0.15% | $10,000 | $24,999 |
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|
|
Money Market
|
0.20% | $25,000 | $49,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 3 Mo CD
|
0.15% | $500 | - |
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|
| 6 Mo CD
|
0.25% | $500 | - |
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|
| Special: 12 Mo CD
|
1.00% | $25 | $3,000 |
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|
| 12 Mo CD
|
0.40% | $500 | - |
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|
| Special: 13 Mo CD
|
0.95% | $500 | - |
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|
| 18 Mo CD
|
0.40% | $500 | - |
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|
| 24 Mo CD
|
0.75% | $500 | - |
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|
| 30 Mo CD
|
0.75% | $500 | - |
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|
| 36 Mo CD
|
0.75% | $500 | - |
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|
| 48 Mo CD
|
0.80% | $500 | - |
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|
| 60 Mo CD
|
0.85% | $500 | - |
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|
| Variable IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Var IRA
|
0.65% | $50 | - | Learn More |
| Fixed IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Fixed IRA
|
0.40% | $500 | - | Learn More |
Loan Rates - June 4, 2020
Your Current Location: Connecticut, CT 06828
There are currently no loan rates available for OLEAN AREA
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Connecticut 30 Year Fixed Mortgage Rates 2020
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
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|---|---|---|---|---|---|---|
NMLS ID: 3030 |
3.746% | 3.625% | 1.00 | $3,750 | $1,141 | Learn More |
NMLS ID: 3030 |
3.998% | 3.875% | 1.00 | $3,750 | $1,176 | Learn More |
NMLS ID: 2890 License#: 13256 |
3.019% | 3.000% | 0.25 | $625 | $1,055 | Learn More |
Featured - Connecticut Home Equity Line Of Credit Rates 2020
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Figure Home Equity Line |
0.000 %
|
$0 |
Learn More
More Info |
Note to OLEAN AREA
To upload and update your bank's rates please register.
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Branches
Below are Olean Area 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:
Fairfield,Connecticut
Olean Area Locations
Financial Details
Olean Area Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Olean Area. 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
| Olean Area | U.S. Average |
|---|---|
| 2.45% | 5.92 |
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 September 30, 2019, Olean Area had $1,144,579 in non-current loans and $63,204 in owned assets. To cover these potential losses it had $46,550,573 in net worth and $2,780,772 in loans loss reserves. That gives it a Texas Ratio of 2.45%.
Net Worth
| Olean Area | U.S. Average |
|---|---|
| 15.49% | 13.86% |
Olean Area FCU has a net worth of 15.49% versus the BestCashCow average of 13.86. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Frequently Asked Questions About Olean Area
Branches and Savings
What is Olean Area?
A federal credit union, registered with the NCUA under certificate #21083.
Learn more about credit unions here.
Is Olean Area FDIC insured?
No, credit unions are not insured by the FDIC. They are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance.
Who can join Olean Area?
Please see Field of Membership information above for information on who is eligible to join.
How big is Olean Area?
Olean Area has total capital of $46.55 million. Full information on Olean Area's financial position is located above.
Who owns Olean Area?
Credit Unions are owned by their members.
Where are Olean Area branches located?
See branch locations nearby.
Are Olean Area ATMs Open 24/7?
Do Olean Area ATMs accept cash deposits?
Can Olean Area customers use other ATMs? What is the charge for withdrawing money from another ATM?
Does Olean Area have a mobile app?
Does Olean Area have mobile deposit?
Does Olean Area have quick pay?
How can Olean Area transfer money to other banks or credit unions?
Does Olean Area report to credit bureaus?
Does Olean Area use Chexsystems?
Does Olean Area use Equifax?
What is Olean Area's toll free phone number?
What is Olean Area's ACH Routing Number?
What is Olean Area's SWIFT code?
Where can I find Olean Area's wire transfer form?
What is the Olean Area address for deposits?
What Products Does Olean Area Offer
Does Olean Area offer home equity lines of credit and home equity loans?
Compare home equity lines of credit rates here.
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