Credit union
Theory Federal Credit Union
Painesville, Ohio, Lake County, OH
$38M in total assets and 3,505 members, the 2,632nd largest of 4,298 US credit unions and 121st of 157 headquartered in Ohio.
- NCUA charter
- 24545
- Charter
- Federal
- Chartered
- 1995
- NCUA insured since
- 1995
- Field of membership
- Multiple common bond - primarily educational
- Website
- https://www.theoryfcu.org
At a glance
Compared with 76 federally insured credit unions in Ohio with under $100 million in assets, as of June 30, 2026.
| Measure | This credit union | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $38M | 53% | $37M | |
| Loans | $19M | 60% | $16M | |
| Deposits (shares) | $36M | 54% | $32M | |
| Members | 3,505 | 60% | 3,155 | |
| Return on assets | 0.10% | 10% | 0.78% | |
| Net interest income to assets | 4.53% | 80% | 3.90% | |
| Efficiency ratio | 78.6% | 55% | 76.0% | |
| Net worth ratio | 8.65% | 3% | 12.88% | |
| Loans to shares | 53% | 58% | 52% | |
| Cost of deposits | 0.43% | 16% | 0.97% |
Ratios are annualized from year-to-date figures. Return on assets uses average assets, as NCUA does. Cost of deposits includes dividends on shares.
Growth
Total assets grew 7.0% a year over 10 years and 3.2% a year over the last 5, including 1 merger in the last 10 years. Membership fell 2.1% a year over 5 years, to 3,505.
Dashed lines mark larger mergers, listed below.
Mergers and acquisitions
| Closed | Absorbed | Assets at last filing |
|---|---|---|
| May 2018 | North Olmsted Schools Federal Credit Union Credit union, North Olmsted, OH | $5M |
Where they operate
3 branches in 2 counties.
Largest counties by branches
| County | Branches | Share of all branches | Rank |
|---|---|---|---|
| Lake County, OH | 2 | 2.9% | 11 of 26 |
| Cuyahoga County, OH | 1 | 0.2% | 31 of 65 |
Credit unions do not report deposits by branch, so these are branch counts: this credit union's branches against every bank and credit union branch in the county. Rank is among all banks and credit unions with a branch there.
Branches by year
| Year end | Branches | Change |
|---|---|---|
| 2016 | 1 | |
| 2017 | 1 | 0 |
| 2018 | 2 | +1 |
| 2019 | 3 | +1 |
| 2020 | 3 | 0 |
| 2021 | 3 | 0 |
| 2022 | 3 | 0 |
| 2023 | 3 | 0 |
| 2024 | 3 | 0 |
| 2025 | 3 | 0 |
| Jun 2026 | 3 | 0 |
Member-serving offices as listed in NCUA call reports. Changes include branches gained in mergers.
Earnings and credit
Return on assets
Year to date, annualized, with the peer median.
Credit and capital
| This credit union | Peer median | |
|---|---|---|
| Delinquent loans, 60+ days | 2.11% | 0.56% |
| Net worth ratio | 8.65% | 12.88% |
| Loans to shares | 53% | 52% |
Delinquent loans are two or more months past due. Net worth is NCUA's capital measure for credit unions.
Related
Credit unions of similar size in Ohio
Most branches in Lake County, OH
Figures as of June 30, 2026 from the credit union's NCUA call report (Form 5300), NCUA's credit union locator and FFIEC merger records.