Question 1

What is LCE Federal Credit Union (LCE FCU)?

Accepted Answer

LCE Federal Credit Union is a community-chartered federal credit union headquartered in Painesville, Ohio. With approximately $67 million in assets and over 5,700 members, LCE FCU serves residents of Lake, Ashtabula, and Geauga counties in Northeast Ohio. The credit union operates as a not-for-profit financial cooperative, owned and governed by its members through a volunteer board of directors.

LCE FCU is regulated by the National Credit Union Administration (NCUA) and provides federally insured deposits up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF). The institution focuses on helping its community thrive financially by offering better rates and fewer fees compared to traditional banks.

Question 2

When was LCE Federal Credit Union (LCE FCU) founded?

Accepted Answer

LCE Federal Credit Union was chartered in July 1960 as a not-for-profit organization in Painesville, Ohio. The credit union was originally established to serve the employees of Lake County and their immediate family members.

When it first opened, LCE FCU had one employee and served fewer than one hundred members. Over the past sixty-plus years, the credit union has consistently expanded its membership eligibility, evolving from an occupational credit union serving county employees to a community-chartered institution serving three counties across Northeast Ohio.

Question 3

Where is LCE Federal Credit Union (LCE FCU) headquartered?

Accepted Answer

LCE Federal Credit Union is headquartered at 77 North Saint Clair Street in Painesville, Ohio. The main office is located in downtown Painesville, directly north of the Lake County Administration Building.

Question 4

Where does LCE Federal Credit Union (LCE FCU) operate?

Accepted Answer

LCE Federal Credit Union operates primarily in Northeast Ohio, serving three counties: Lake, Ashtabula, and Geauga counties. Membership eligibility extends to anyone who lives, works, worships, or attends school in any of these three counties.

The credit union maintains its primary branch in Painesville and offers ATM access at multiple locations throughout the region, including at Mentor Municipal Building, UH Doctor Office in Madison, Lake West Hospital in Willoughby, and Tripoint Hospital in Concord. Members also have access to surcharge-free ATMs at all Sheetz and GetGo locations, as well as through the Alliance One ATM network nationwide.

Question 5

What services does LCE Federal Credit Union (LCE FCU) offer?

Accepted Answer

LCE Federal Credit Union offers a comprehensive range of financial products and services, including:

Deposit Accounts: Savings accounts, checking accounts, Christmas club accounts, and vacation club accounts. Members can open an account with a minimum deposit of $10.

Lending Products: Vehicle loans, motorcycle loans, ATV and jet ski loans, boat loans, personal loans, home equity loans, first mortgage refinancing, second mortgages, and Visa credit cards with a competitive 10.75% fixed APR and no annual fees.

Digital Banking Services: Mobile banking app for iOS and Android devices, online banking with bill pay services, mobile check deposit (remote deposit capture), audio response phone banking, and automatic transfers.

Additional Services: Direct deposit, wire transfers (domestic and international), debit cards with MasterCard functionality, ATM cards, Courtesy Pay overdraft protection, and night deposit services.

All digital banking services are available 24/7, allowing members to check balances, transfer funds, make loan payments, and manage their accounts from anywhere.

Question 6

What makes LCE Federal Credit Union (LCE FCU) unique?

Accepted Answer

LCE Federal Credit Union distinguishes itself through its strong commitment to cooperative principles and community service. As a member-owned financial cooperative, every member has equal voting rights regardless of account balance—one member, one vote.

The credit union's governance structure reflects true democratic principles, with a volunteer nine-member board of directors elected by the membership. Board members include Craig Ghidotti (President), Geoff Kent (Vice President), Todd Tayerle (Treasurer), Max Kubacki (Secretary), and members Dale Flood, Janet Clair, Gerald Walker, David Malinowski, and Cynthia Brooks.

LCE FCU emphasizes its not-for-profit status, which allows the institution to return value to members through higher interest rates on savings and lower rates on loans, rather than generating profits for external shareholders. The credit union's mission statement, "Helping our community thrive financially," reflects its dedication to member financial wellness over profit maximization.

The institution has demonstrated steady growth, with strong financial metrics including a 10.79% net worth ratio and a healthy 1.50% return on average assets as of Q3 2025.

Question 7

What type of financial institution is LCE Federal Credit Union (LCE FCU)?

Accepted Answer

LCE Federal Credit Union is a federally chartered credit union, operating under the oversight of the National Credit Union Administration (NCUA). The "Federal" designation indicates it received its charter from the federal government rather than the state of Ohio.

As a community credit union, LCE FCU operates under an expanded field of membership that includes anyone who lives, works, worships, or attends school in Lake, Ashtabula, or Geauga counties in Ohio. This represents a significant evolution from its original occupational charter serving only Lake County employees.

The credit union follows the traditional credit union philosophy of "people helping people" and operates on cooperative principles: member ownership, democratic control through elected representatives, and not-for-profit status designed to serve members rather than generate profits for external investors.

LCE Federal Credit Union (LCE FCU)

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About LCE Federal Credit Union (LCE FCU) in the United States