About Us

First Federal Savings and Loan Association of Lakewood was founded in 1935 with a clear vision for the future --to grow stronger, to maintain stability, and to provide its customers with a complete portfolio of financial services.

Over seventy-five years later, First Federal Lakewood has become a model of consistency and growth in the banking industry. From its downtown Lakewood roots, First Federal Lakewood has expanded its reach throughout Cuyahoga, Lake, Lorain and Medina counties, providing friendly and convenient access at eighteen full-service branches and seven loan production offices.

While mergers, acquisitions and divestitures have affected many banking institutions, First Federal Lakewood remains focused and committed to the communities it serves.The hallmarks of First Federal Lakewood's success are prudent banking philosophies, innovative products, competitive rates, long-term customer relationships, and technological achievements. Looking to the future, First Federal Lakewood remains fully committed to customer service, community involvement, and financial stability.

First Federal Lakewood continues to set, and achieve, new milestones. As of 12/31/10, our total assets were $1.32 billion, our total deposits were $1.12 billion and we closed a record $502 million in loans. Also, we recorded net income of $3.3 million which marked our 12th consecutive quarter of net income since the beginning of the credit and financial crisis of 2007. We also increased our total capital to $131.5 million which, by regulatory definition, makes First Federal a "well capitalized company".

Mission Statement

Financial Statement

Family Tree Newsletter

FFL in the News

Board of Directors

Community Relations

Our History

FFL on Radio & TV

Mission Statement
The mission of First Federal Savings & Loan Association of Lakewood is to provide quality financial products and services to consumers in our markets and achieve consistent growth.

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Financial Statement

The Financial Statements of First Federal Lakewood is available for download in Adobe Acrobat (.pdf) format. To download, click the following:

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Family Tree Newsletter

Click the following links to view past Family Tree Newsletters.

Get Adobe Acrobat Reader HERE

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Board of Directors

With decades of professional experience throughout various facets of business, the First Federal Lakewood Board of Directors plays an integral role in the development of annual business objectives and strategies. Their leadership and dedication continues to provide the basis for success for First Federal Lakewood and our customers.

Ronald W. Dees, Chairman
President (retired)

Bonne Bell Inc.

Thomas J. Fraser
President and CEO

First Federal Lakewood

Gary R. Fix
President and CEO (retired)

First Federal Lakewood

W. Charles Geiger III

Geiger's Clothing & Sports

William C. Huffman

Huffman, Isaac & Klym, LLC 

Rebecca Ruppert McMahon 
General Counsel (former) 
Cuyahoga Community College

Michael P. Summers 
City of Lakewood

Directors Emeritus
Robert C. Weber
William M. Malley
Roger L. Holmes
Larry E. Faulhaber
Terry G. Tracy

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Community Relations

First Federal Lakewood has a rich history of valuing community involvement. In addition to supporting our service communities as a corporation, we can also boast about individual employee involvement.

Many of our employees hold various seats on community boards, committees and organizations including chambers of commerce, Kiwanis, Rotary and other service organizations.

First Federal Lakewood is also a proud sponsor of various educational programs that reach students in both public and private schools in our service areas.

At First Federal Lakewood, we understand the importance of community involvement, which only reinforces our commitment to serve and support our community neighbors.

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Our History

A Tradition of Strength and Service since 1935


On the heels of The Great Depression, Midwest Savings & Loan Company applied of its charter from the Federal Home Loan Bank of Cincinnati, and on February 16, 1935, became First Federal Lakewood.


Responding to the needs of a country at war, First Federal Lakewood stayed the course, prudently managing finances, steadily increasing savings deposits, and quickly realizing total assets of nearly $13 million.


The post-war building boom resulted in new construction and mortgage loans, and First Federal Lakewood's assets increased to more than $60 million…as its reputation as a dependable institution spread through the community.


Like the communities it served, the competition grew rapidly. First Federal Lakewood invested in new technologies, new products and personal customer service. Assets more than doubled to over $135 million.


First Federal Lakewood expanded with the marketplace, opening offices in North Ridgeville and Westlake. On assets of $284 million, First Federal Lakewood continued to meet and exceed the needs of its customers.


Despite industry deregulation, soaring inflation and volatile interest rates, First Federal Lakewood continued to expand with new community branches, new services, innovative products and competitive rates. Assets continued to expand as well, growing to $351 million.


From its multiple branch locations, First Federal Lakewood continued its longstanding tradition of service, strength, and stability, while continuing to develop financial solutions tailored to its customers' needs. At the turn of the century, assets stood at $943 million.


First Federal Lakewood has established a position of leadership in the banking industry with assets exceeding $1 billion. From its eighteen area locations, First Federal Lakewood remains focused on; the financial success of its customers, strategic growth, community involvement, offering unique financial services and competitive rates, and maintaining a special interest in the education of area youth - the same focus that has guided FFL since 1935. 

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