Assets - $59 Million
Members – 5,700 and growing
Cooperative – Our members are our only owners
Democratic – Volunteer board of directors elected by our members
Not-for-profit – Better rates and fewer fees
Eligibility – Anyone who lives, works, worships or attends school in Lake County
L.C.E. Federal Credit Union was chartered in July of 1960 as a non-profit organization in Painesville,
Ohio. It was established to serve the employees of Lake County and their immediate family members. The credit union originally had one employee and served less than one hundred members. Over the last forty-five years we have consistently added new membership groups. We currently have two branches and 13 employees which serve approximately 5,700 members within 75 select employee groups and anyone in Lake County. We are solely owned and operated by our members, under the direction of a voluntary, nine-member Board of Directors. While the Board oversees and guides the operating activities of the credit union, it is the experienced, caring staff that oversees the daily operations. Credit unions, like other financial institutions, are closely regulated and operate in a very prudent manner. The National Credit Union Share Insurance Fund (NCUSIF), administered by the National Credit Union Administration, an agency of the federal government, insures deposits of credit union members at more than 9,000 federal and state-chartered credit unions nationwide.
