History of the L.E.O. Credit Union

The L.E.O. Credit Union was formed in 1985 as a non-profit, cooperative business, owned and controlled by its members.  Members/owners of L.E.O. share the common bond of Lubrizol Employees of Ohio, other selected groups, and their relatives as stated in our charter.

The L.E.O. Credit Union was founded primarily as a savings and lending institution.  As we have grown , and in response to the needs of our members, other products have been introduced. Over the years, L.E.O. has grown into a credit union with over 2000 members, and over $13.8 million in assets!

 

Member Services
	L.E.O. currently offers regular saving and Christmas Club accounts, and certificates of deposit. These savings are insured up to $100,000 by the National Credit Union Administration, which is a U.S. government agency.
	L.E.O. has checking accounts with no monthly fees, and offers ATM cards to access checking and savings accounts.
	L.E.O. offers savings-secured, certificate-secured, new and used car, boat, RV, home improvement, and signature loans.  We also have a car leasing program.
	L.E.O. accepts electronic deposits for saving or checking accounts, and offers the convenience of payroll deduction for savings, checking, Christmas Club, sub accounts or loan payments..
	L.E.O. has discounted movie and amusement park tickets, and free notary services at our Painesville office.
	The Info Line, accessed by calling the L.E.O. office and our website, relate current rates, ticket prices, office hours and locations.
	L.E.O. has a no annual fee Visa card at a competitive rate.
	L.E.O. maintains a 4-person staff to service member needs.
The Board of Directors
	The Board of Directors is elected by the membership at the annual meeting, typically held on the last Monday in February. The Board acts as trustees of members' funds, and sets policies for loans and other services.
The Audit Committee
	The audit committee is appointed by the Board and is responsible for monthly and yearly audits of the credit union, monitoring the credit union's fiscal health.
The Credit Committee
	The credit committee, also appointed by the Board, is responsible for ensuring that loan requests and loan processing are effectively and fairly handled based upon policies and procedures established by the Board.