Third Federal Savings and Loan


Overview / Commentary
216-429-5228
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 109th largest bank in the nation. It was established in 1938 and as of December of 2023, it had grown to 976 employees at 37 locations. Third Federal Savings and Loan has an A health rating.

Related Posts

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. https://www.thirdfederal.com/landing-pages/30dayoom 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

Posted by: |

https://www.thirdfederal.com/saving/online-plus?refer=phone89

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

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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!

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Health

Health Grade Components

Overall
FDIC Certificate #30012
Year Established1938
Employees976
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.4%
Return on Equity - YTD4.07%
Annual Interest Income$652MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$17.04B$16.12B
LoansQ4 2023vs Q4 2022$15.21B$14.49B
DepositsQ4 2023vs Q4 2022$10.05B$9.2B
Equity CapitalQ4 2023vs Q4 2022$1.66B$1.59B
Loan Loss AllowanceQ4 2023vs Q4 2022$69.1MM$74.5MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$33.5MM$34.4MM
Real Estate OwnedQ4 2023vs Q4 2022$1.1MM$1.4MM
Rates

Rates for Third Federal Savings and Loan are currently being reviewed.

Locations

Availability



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