LorMet Approved for Charter Expansion into North Olmsted, Olmsted Falls, and Olmsted Township
As LorMet Community Federal Credit Union celebrates its 90th anniversary, the organization has received approval from the National Credit Union Administration (NCUA) to expand its community charter to include North Olmsted, Olmsted Falls, and Olmsted Township, marking a significant milestone in its continued growth across Northeast Ohio.
Effective immediately, individuals who live, work, study, or worship in these communities, as well as immediate family members of current LorMet members, are eligible to join.
“This expansion is especially meaningful as we celebrate 90 years of serving our community. What began in 1936 as a small credit union serving steelworkers has grown into a trusted financial institution, and we’re proud to continue that legacy by welcoming new members from North Olmsted, Olmsted Falls, and Olmsted Township.”
Daniel Cwalina, President and CEO of LorMet Community Federal Credit Union
Founded in 1936 as the National Tube Lorain Works Employees’ Credit Union, LorMet was established to meet the financial needs of local steelworkers and their families. Over the decades, the organization has steadily expanded its field of membership, services, and geographic reach, evolving alongside the communities it serves.
Today, LorMet serves more than 21,000 members and manages over $283 million in assets, reflecting decades of sustained growth and a strong commitment to member-focused service. The credit union has built its reputation on accessible financial solutions, particularly in auto lending, along with a full suite of offerings, including checking and savings accounts, mortgages, credit cards, and digital banking services.
The newly approved charter expansion represents the latest chapter in LorMet’s long history of growth, extending its reach beyond its traditional footprint while staying grounded in the same community-focused principles that have guided the organization for 90 years.
“As we look ahead, our focus remains on building relationships, supporting financial well-being, and growing responsibly within the communities we serve. This expansion allows us to bring our services to more individuals and families while honoring the legacy that brought us here.”
Daniel Cwalina, President and CEO of LorMet Community Federal Credit Union