Get To Know LorMet

In the 1950s, credit unions switched to machine posting and began offering payroll deductions. By the end of the 1960s, we grew to over $5 million in assets and were renamed the “U.S. Steel Corp., Lorain Works Employees’ Credit Union.”

In the 1990s, we expanded to serve employees of Lorain County, The City of Lorain, Ridge Tool, General Industries, EMH, and others. We changed our name to “LorMet Allied Credit Union”, reflecting the diversity of these new employer groups. One of the first financial institutions in Lorain County to provide 24/7 account information by phone, we also converted to a state-of-the-art online processing system.

On February 22, 2000, we received a federal community charter allowing any person who lives, works, worships, or attends school in Lorain County the privilege of membership in “LorMet Community Federal Credit Union.” We opened our signature Amherst Branch and added online banking and online bill pay.

Today, LorMet Community Federal Credit Union has grown into the top auto lender in Lorain County. We remain a community not-for-profit member-owned financial cooperative with over 21,000 members and over $240 million in assets, offering financial services to all of Lorain County, Bay Village, Rocky River, and Westlake, Ohio