Third Federal Savings and Loan

Overview / Commentary
7007 Broadway Avenue
Cleveland, OH 44105

Third Federal Savings and Loan is headquartered in CLEVELAND and is the 7th largest bank in the state of Ohio. It is also the 112th largest bank in the nation. It was established in 1938 and as of March of 2024, it had grown to 940 employees at 37 locations. Third Federal Savings and Loan's savings rates are 8X the national average, and it has an A health rating.

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Third Federal 30 Day CD Now 5.70% - 12/19/2023

This may be the highest liquid or near liquid rate. It is advertised on their web page, but you will only see the rate once you type in the zip code on the "open an account" page as it is not offered in their home market of Florida and Ohio. Hard pull required. Minimum deposit $500. They also have a 5.40% 5 month and 5.30% 10 month CD, both with bumping options (minimum deposit $100k alas), and a 5% 11 or 12 month CD with no option to bump rates higher, and still offer the gimmick "bonus rate" products of 5.50% APY for the first year and 3.50% APY years 2-3 or 2-5. If 30 days is too much commitment, you can get a 7 day CD for 4.5%.

30 Day CD 5.40% APY - Third Federal - 11/10/2023

It is kind of a gimmicky product, but is higher than almost all savings accounts and competitive with the 4-week Treasury bill. What is weird is that Third Federal has great products which are not advertised on the web site, but only when you open the "Open an Account" page. In addition to the 30 day CD at 5.40%, there is a 5.35% 5 month Raise Your Rate CD (minimum $100k, otherwise 4.85% for $500, 5.10% for $50k), 5.15% 10 month Raise Your Rate (again minimum $100k, otherwise 4.5% for $500 and 4.85% for $50k), 5% 12 month CD, 4.50% 7 day CD, etc. Rates may differ in and out of market, as this 30 day CD does not appear to be available in Ohio, which is Third Federal's home market.

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4.3% Online Savings

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Customer Service Is Top Notch!

I love banking at this bank for many reasons. I love the attention the CSRs provide to every customer. On every visit it is like visiting with family. They are warm and welcoming and make you feel like they care about you and your family. There is ample parking so I am in and out very easily whenever I go there. If something looks suspicious on your account they alert you right away. Their rates are competitive and you are almost always guaranteed a loan at a decent rate. I have banked with this bank for many years and would not think about leaving because I am treated with dignity and respect by all employees and not just a number and I like that! This bank also supports humanity efforts and the community which is awesome.

May Want To Consider Other Options

Posted by: |

I signed up for a CD online and got a call that their trial deposit system was not working right, so I couldn't ACH funds and I would need to mail a check or go inside a branch. What kind of bank can't figure out why their computers aren't working right? Seemed sketchy to me so I decided not to do business with them.

6% 6 Month CD ... FOR 1 MONTH

Posted by: |

6% goes DOWN to 4.50% for next 5 months .... zowie, this is lower than low!!! THEY call this one a BONUS CD ... I call it a rip off!



Health Grade Components

FDIC Certificate #30012
Year Established1938
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.45%
Return on Equity - YTD4.59%
Annual Interest Income$183.6MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$17B$16.25B
LoansQ1 2024vs Q1 2023$15.16B$14.57B
DepositsQ1 2024vs Q1 2023$10.05B$9.13B
Equity CapitalQ1 2024vs Q1 2023$1.71B$1.59B
Loan Loss AllowanceQ1 2024vs Q1 2023$68.2MM$74.1MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$35.3MM$32.7MM
Real Estate OwnedQ1 2024vs Q1 2023$230K$1.2MM
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Always verify rates and promotions with the bank or credit union. We are not Third Federal Savings and Loan; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Third Federal Savings and Loan Savings Account Rates

4.00%$5k-Online Saving Plus Account
0.70%*$100k*-High-Yield Savings
OTHER TIERS: 0.05% $10 - $100k

Third Federal Savings and Loan Money Market Rates

0.70%*$100k*-Money Market Savings
OTHER TIERS: 0.05% $5k - $25k | 0.10% $25k - $100k

Third Federal Savings and Loan Checking Account Rates

0.05%*$5k*-High Yield Checking
OTHER TIERS: 0.01% $10 - $5k

Third Federal Savings and Loan CD Rates

5.25%$500-60 Month Bonus Year 1 CD
5.25%*$100k*-5 Month Raise Your Rate CD Special
OTHER TIERS: 4.75% $500 - $50k | 5.00% $50k - $100k
5.15%$25k-5 Month CD Special - New Money
4.93%$500-6 Month Bonus CD
4.67%$500-36 Month Bonus CD
4.60%$500-19 Month CD Special
4.50%$500-29 Month CD Special
4.50%$500-7 Day CD Special
4.40%$500-39 Month CD Special
3.75%$500-49 Month CD Special
3.50%$500-59 Month CD Special
3.50%$500-60 Month Bonus Year 2 CD
3.50%$500-60 Month Bonus Year 3 CD
3.50%$500-60 Month Bonus Year 4 CD
3.50%$500-60 Month Bonus Year 5 CD
3.00%$500-6 Month CD
3.00%$500-3 Month CD

Third Federal Savings and Loan IRA Rates

5.25%*$100k*-5 Month Raise Your Rate IRA Special
OTHER TIERS: 4.75% $100 - $50k | 5.00% $50k - $100k
5.15%$25k-5 Month IRA Special - New Money
4.60%$100-19 Month IRA Special
4.50%$100-29 Month IRA Special
4.40%$100-39 Month IRA Special
3.75%$100-49 Month IRA Special
3.50%$100-59 Month IRA Special


West Palm Beach Area

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