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Business

GenFed Financial offering personalized banking services

8/28/2014 - West Side Leader
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By Maria Lindsay

GenFed Financial Credit Union, shown at left, offers banking products and personal service.
Photo courtesy of GenFed Financial Credit Union
FAIRLAWN/ELLET — GenFed Financial Credit Union is a financial institution offering a variety of banking services for individuals and businesses.

The business was established in 1937 and has two locations — 3855 W. Market St. in Fairlawn, which is a new location after a move in April, and 2492 Wedgewood Drive in the Ellet area of Akron.

South Akron Branch Manager Max Ramsay said GenFed offers typical banking products such as various types of accounts, CDs and IRAs, loans for buying a house or a vehicle, as well as business loans and personal loans. He said the company also offers a MasterCard credit card, financial counseling for customers and electronic access and mobile banking for its services.

“Anything that your typical bank offers, we have,” said Ramsay. “In addition, we do personal loans up to $20,000, which most banks don’t do anymore.”

Ramsay added GenFed fees for business services are “generally a lot lower than what most banks offer.”

In addition, GenFed is currently offering car loans for 2.24 percent, according to Ramsay.

Ramsay said another advantage of doing business with GenFed is that it offers “true personalized banking.”

“We have about 5,000 members in the Akron area, so it is much easier to get to know our customers,” he said. “We know you, we know when you like to come to the bank, we know about your family and what you are doing. This allows us to offer some services, such as personal loans, without a lot of hassles.”

While there are two GenFed locations offering customers free ATM services, Ramsay said there are 114 other ATMs within a 10-mile radius of its Ellet branch that its customers can access for cash without fees, all located in popular retail stores and other financial institutions. In addition, the Fairlawn office has 95 ATMs located within a 10-mile radius offering no-fee service.

At one time, credit unions were open only to certain groups of people, but Ramsay said that has changed. In the West Side Leader coverage area, membership in GenFed is open to anyone who lives, works, attends school or worships in Summit and Medina counties.

Both the Fairlawn and Ellet branches are open from 8:30 a.m. to 5 p.m. Mondays through Thursdays, 8:30 a.m. to 6 p.m. Fridays and 9 a.m. to 1 p.m. Saturdays.

To inquire about services at the Fairlawn office, call 330-835-9103. For the Ellet office, call 330-784-5451.

For more information, visit www.genfed.com.

Editor’s note: Advertiser features appearing in the West Side Leader are provided as a service to the advertiser and our readers. They do not serve as an endorsement of any company, person, product or service. All information contained in these features comes directly from interviews with company owners or their representatives and from additional materials provided by them.

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