LorMet Community Blog

Online Bill Pay Can Save You Time

While some of us are counting pennies and clipping coupons, we are still wasting money in other ways because we do not make the most of our time.

One way you can save time is to pay your bills online. If you have been skeptical about doing this, why not try it? If you shop online, you have already completed some financial transactions via the internet. And if you go online to pay bills through a company or utility website already, why not just consolidate and pay all of your bills through a financial institution. Rather than visiting several websites, you can pay all of your bills in one central spot.

Here are more reasons to pay your bills online:

You will save on postage. Money for stamps can add up, so paying your bills online costs less. And, depending on how close you are to a mailbox of post office, getting those bills in the mail is one more errand that takes time. Plus, if the post office really does cut back service to five days a week, the mail will be slower and you will have to be more careful about when you mail your bills.

You will no longer have to spend (as much) time balancing your checkbook. Online bill pay gives you quick access to your payment history. You can see what has been paid when without having to figure it all out on your own. If you still write a few checks for some things, you will have to keep track of those, but it is nothing like having to balance your entire checkbook.

With LorMet Online Bill Pay/Bill Pay PLUS, you can: schedule multiple payments, view your pending payment calendar or receive bill pay reminders via e-mail and set up personal security features.

LorMet Makes Banking Less of a Chore

LorMet Community Federal Credit Union knows that you work really hard to earn your money, so we do not want to make it a chore for you to access your money. You should not have to jump through a lot of hoops or pay fee after fee. A financial institution should help you safeguard and grow your money. LorMet offers you access to online banking and to in-person help, making it convenient for you to bank as you choose.

In addition to being able to conduct your banking queries and transaction face-to-face at our main branch, you can also use one of our three convenient drive-through lanes for those times when coming into a branch does not fit into your schedule.

However, should you have some time to spare; we would love it if you would stop in and spend a little time with us at the Amherst-Main Branch. This location features a two-story atrium lobby with terrazzo floors and glass curved walls. It is a welcoming and tranquil space and we want you to feel relaxed when you come in to do your banking. Come in to use the handy coin counting machine or pick up some information from our center for financial education.

If you have time to spare, you can come in to catch news on the 50-inch television, which is in the lobby just steps away from the Arabica coffee café. Watch the news, beverage in hand, or if you like have a seat on the outdoor café patio when the weather is nice. You can also join the LorMet Arabica Coffee Club and start enjoying wonderful perks like free Arabica coffee and special online email offers. Join the club!

If you are still not a member of LorMet, contact a member services representative today. We know that banking is important business, but that does not mean that you cannot feel good while taking care of what is important.

Branches of LorMet Community Federal Credit Union

Since 1936, the LorMet Community Federal Credit Union has served a great number of people in Lorain County, Ohio. From its humble beginnings, LorMet has grown formidably, and there are now 4 active full service branches, with a fifth one due to be opened sometime in late 2009 or early 2010.

Near Route 58, you will find LorMet’s sparkling flagship branch on Cooper Foster Park Road in Amherst, Ohio. Modern and spacious, the eye-catching building embodies LorMet’s vision to offer the best credit union services in the region. If you are in a hurry, you will be thankful for those three express drive-up lanes and the drive-up ATM, especially during the cold season. If you have a lot of coins that you find hard to count, you can use the cool low-cost coin-counting machine. Now, you may bump into an old acquaintance on the day your housing loan is approved. Why not head on to the Arabica Café, and catch up over a slow cup of coffee?

Near the Elyria Memorial Hospital, you will find LorMet’s Elyria branch on East Broad Street. Housed in a modern building with an old-time feel, the second biggest branch has a full-service lobby as well as two express drive-up lanes, plus a drive-up ATM. Formerly the main branch, LorMet’s Lorain branch is located on East 28th Street. Now, it has a full-service lobby and a drive-up ATM. Also on Route 58, you will find LorMet’s Wellington branch on North Main Street. Other than its full-service lobby, its ATM will surely put a smile on your face. When you see the Victorian horse and buggy, you shouldn’t think it is Victorian, or horsy, or buggy, because you will see, it’s truly an ATM!

What does the fifth LorMet branch has to offer? Find out when it opens at the former AAA building in Oberlin!

The Arabica Café in LorMet

Many folks in Amherst, Ohio have been enjoying a delightful secret, which will not be a secret for much longer. For members of the LorMet Community Federal Credit Union, going to the state-of the-art headquarters on Cooper Foster Park Road is something more than just a routine trip. Other than the friendly service and familiar faces, they would be greeted by the aromatic whiff of sweet-smelling coffee when they step into the premises, courtesy of the Arabica Café.

Surely, you wouldn’t find a café in any financial institution, let alone a credit union, but that’s what the good people at LorMet have done to make your banking experience all the more memorable, and enticing. According to president and CEO of LorMet Dan Cwalina, “Banking does not have to be a chore, it should be fun.” Based on this philosophy, the Arabica Café inside the lobby has proven to be a winning feature and members are pleased to enjoy the finest coffee at very affordable prices.

Of course, it’s not just the coffee. There’s also a good selection of beverages for people with a taste for something different as well as freshly baked mouth-watering muffins and other fares for people who need a quick bite. Whether you are finalizing some business details with your housing agent or surfing the net on your own, you will appreciate the professional atmosphere of the Arabica Café. From any table, patrons can take in the soothing scenery of the Amherst landscape through the windows.

For these reasons and more, it’s no surprise that many LorMet members in Amherst regularly head on to the Arabica Café whenever they need to make a trip to the headquarters. Unlike other credit unions and financial organizations, LorMet sets out to offer the ultimate banking experience for its current members as well as future members. With the Arabica Cafe, it’s a few steps closer. Go see for yourself today!

Federally Insured: What Does It Mean?

If you are one of the 90 million federal credit union members in the United States, you may have come across the term "Federally Insured." What does it mean? Since most people may not know the full implications of being federally insured, it's a good idea to look at this term more closely, especially in regards to the NCUA.

All federal credit unions in the United States are under the umbrella of the National Credit Union Administration (NCUA). The main functions of the NCUA include chartering, regulating, and insuring all the federal credit unions in the United States. As a member of a federal credit union, you will be pleased to know that your shares are insured by the National Credit Union Share Insurance Fund (NCUSIF). Since the backbone of the NCUSIF is the United States Government, it's absolutely secure. Check this fact. From the time the NCUSIF was approved by Congress in 1970 up to this present day, not a single member of a federal credit union has ever lost even a single penny of insured savings.

When a federal credit union runs into trouble, the NCUA will do everything in its powers to rescue it. If nothing can be done and the federal credit union fails, federal credit union members have nothing to worry about. Typically within 3 working days upon the closing of the credit union, the NCUSIF will make the requisite payouts to the each and every member of the credit union. Since October 2008, the Standard Maximum Share Insurance Amount is set at $250,000, so your savings are insured up to that figure, subject to the rules and regulations of the NCUA.

While not all credit unions are federally insured, the LorMet Community Federal Credit Union in Lorain County, Ohio is federally insured and growing stronger than ever.

Federally Insured • Since 1936

Learning More about Credit Unions

Presently, there are thousands of credit unions in the United States, with approximately 100 million credit union members. Yet, many people don't really know much about credit unions.

Generally, a credit union is a not-for-profit financial institution organized to promote savings and provide credit for those who belong. Unlike banks, which are profit-orientated financial institutions owned by stockholders, credit unions are financial cooperatives owned by their members and run by a volunteer (unpaid) board of directors. Since credit unions exist to serve the interests of their members without the motivation of profit, logically, they frequently offer more competitive rates and lower fees than those offered by banks. With such advantages, it's hardly surprising that more and more people are turning to credit unions to finance their vehicles and manage their day to day financial transactions.

Membership to credit unions can be exclusive or open to public. For instance, the largest credit union in the world, Navy Federal Credit Union, is an exclusive credit union whose membership is restricted to people who are associated with the Department of Defense in some capacity. On the other hand, the LorMet Community Federal Credit Union in Lorain County, Ohio is open to public. As long as you live, work, worship, or even attend school in Lorain County, you are eligible to join and reap the benefits of one of the most progressive credit unions in the region.

Around the world, credit unions are known by different names. In Afghanistan, they are known as "Islamic Investment and Finance Cooperatives" and in some African countries, "Savings and Credit Cooperative Organizations." However, the most meaningful name has to be the French term caisses populaire which means "people's bank," and that's what a credit union really is!

LorMet wants you to go to the Super Bowl?

Now that the NFL is kicking off another spectacular season, avid fans are already penciling in their picks for Super Bowl XLIV on February 7, 2010. The Super Bowl is one of the biggest television events in the world because most people can only watch it on TV. With the 2009 Visa Mega Fan NFL Sweepstakes, you have the chance to win an all-expense paid trip to experience the electricity of Super Bowl XLIV at the Dolphins Stadium in Miami, Florida!

When you use your Visa credit card to make an eligible purchase at participating stores in the United States from September 10 to November 30, 2009, you will automatically earn one Sweepstakes entry. During this period, you can also enter the Sweepstakes by sending in non-purchase entries via the U.S. Mail. The Grand Prize winner will be announced after the draw, which is scheduled to be held around December 15, 2009.

As an added bonus, the 2010 Pro Bowl (NFL All-Star Game) is going to be held at the Dolphins Stadium on January 31, 2010 because the traditional venue, the Aloha Stadium, is undergoing renovations. Thus, the Grand Prize winner will be going on a truly stupendous 11-day 10-night trip for four to Miami to attend BOTH the Pro Bowl as well as the Super Bowl! The winner will also be given pre-game field access as well as the tickets to meet and greet the Super Bowl heroes. Before the big event, the winner will first go on a 4-day 3-night trip for four to attend a 2009 NFL Playoff or Championship game.

Are you going to the Super Bowl? To make the most of this once in a lifetime opportunity, apply for LorMet Visa Credit Card today, and shoot for the Dolphins Stadium!