L.C.E. Federal Credit Union is a convenient full service financial institution with broad financial services that provides a safe haven for its membership, offering competitive rates with innovation, steady growth, promoting personal, friendly, family service.
Assets - $38 Million
Members – 5,000 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 not-for-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 fifty + years we have consistently added new membership groups, and now L.C.E. serves all of Lake County! We currently serve over 5,000 members. We are solely owned and operated by our members, under the direction of a voluntary, seven-member Board of Directors.
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. Deposits are insured up to $250,000.
BOARD OF DIRECTORS:
L.C.E. Federal Credit Union is governed by a Board of Directors that establishes and reviews policy. The directors are credit union members who are elected by the membership and serve on a volunteer basis. Every member has one vote, regardless of how much he or she has on deposit. At LCEFCU, there is no select group of shareholders that profits more than anyone else. All members profit, individually and collectively.
Board of Directors
Dale Flood, President
Geoff Kent, Vice-President
Gerald Walker, Secretary
Janet Clair, Treasurer
Anita Walters, CEO