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 years later, First Federal of Lakewood has become a model of consistency and growth in the banking industry. From its downtown Lakewood roots, First Federal of Lakewood has expanded its reach throughout Cuyahoga, Lorain and Medina counties, providing friendly and convenient access at twelve full-service branches.
First Federal of Lakewood's team of financial professionals provide personal banking solutions on site, at drive-up windows and through the First Federal of Lakewood call center --- "Customer Service & More." To customers seeking 24 hour-a-day convenience, First Federal of Lakewood provides service through eFFL Online Banking, ATMs, Teller Phone and the www.FFL.net Web site.
While mergers, acquisitions and divestitures have affected many banking institutions, First Federal of Lakewood remains focused and committed to the communities it serves.The hallmarks of First Federal of Lakewood's success are prudent banking philosophies, innovative products, competitive rates, long-term customer relationships, and technological achievements. Looking to the future, First Federal of Lakewood remains fully committed to customer service, community involvement, and financial stability.
First Federal of Lakewood continues to set, and achieve, new milestones. Presently, assets exceed $1 billion, while net worth, which exceeds $124 million, has more than doubled in the last decade.
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 of 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.
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Board of Directors
With decades of professional experience throughout various facets of business, the First Federal of 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 of Lakewood and our customers.
Ronald W. Dees, Chairman
President (retired)
Bonne Bell Inc.
Gary R. Fix
President, CEO & Managing Officer
FFL
W. Charles Geiger III
President
Geiger's Clothing & Sports
William C. Huffman
Partner
Huffman, Isaac & Klym, LLC
Michael P. Summers
President & Owner
Summers Rubber Co.
Terry G. Tracy
President (Retired)
FFL
Directors Emeritus
Robert C. Weber
William M. Malley
Roger L. Holmes
Larry E. Faulhaber
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Community Relations
First Federal of 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 of 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 of 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
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1930's |
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 of Lakewood. |
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1940's |
Responding to the needs of a country at war, First Federal of Lakewood stayed the course, prudently managing finances, steadily increasing savings deposits, and quickly realizing total assets of nearly $13 million. |
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1950's |
The post-war building boom resulted in new construction and mortgage loans, and First Federal of Lakewood's assets increased to more than $60 million…as its reputation as a dependable institution spread through the community. |
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1960's |
Like the communities it served, the competition grew rapidly. First Federal of Lakewood invested in new technologies, new products and personal customer service. Assets more than doubled to over $135 million. |
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1970's |
First Federal of Lakewood expanded with the marketplace, opening offices in North Ridgeville and Westlake. On assets of $284 million, First Federal of Lakewood continued to meet and exceed the needs of its customers. |
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1980's |
Despite industry deregulation, soaring inflation and volatile interest rates, First Federal of 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. |
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1990's |
From its multiple branch locations, First Federal of 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. |
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Today |
First Federal of Lakewood has established a position of leadership in the banking industry with assets exceeding $1 billion. From its twelve area locations, First Federal of 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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