Third Federal Celebrates 80th Anniversary by Rewarding Associates

June 12, 2018

Marc A. Stefanski Chairman and CEO Third Federal Savings and Loan (Photo: Business Wire)

CLEVELAND--(BUSINESS WIRE)--Jun 12, 2018--Third Federal Savings and Loan is celebrating its 80 th anniversary this year in grand style. Recently, the company hosted associates and their guests to special celebrations in both Ohio and Florida. In addition to a night of food and entertainment, associates were rewarded with surprise financial gifts at each event.

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Marc A. Stefanski Chairman and CEO Third Federal Savings and Loan (Photo: Business Wire)

At the Florida event in May, Third Federal awarded an after-tax bonus of $1,080 to all associates. The bonus was announced at the conclusion of the company’s anniversary event in Naples, Fl.

At its Cleveland-area 80 th anniversary celebration last night, Marc A. Stefanski, chairman and CEO, hosted associates and their guests for an evening of food and fun. The event, which featured dinner at the Cleveland Museum of Art and entertainment at Severance Hall, culminated with all Third Federal associates receiving a $1,000 increase to their salary. The 2018 increase in their salary will be paid in full this week so the associates can immediately enjoy the benefits.

“Rewarding our associates and investing in their financial well-being is one of the many reasons why we enjoy a 3% annual associate turnover rate, one of the lowest in the industry,” Stefanski said. “Providing these benefits is a special way to celebrate our 80 th anniversary. We’re happy to recognize our associates’ hard work and dedication by passing on the savings from the recent corporate tax reform.”

In addition to these special anniversary year bonuses, Third Federal associates enjoy a variety of financial benefits, including semi-annual bonuses, financial rewards for participating in the company commit to fit program, a 401k plan with company matching funds, and a generous annual associate stock ownership plan contribution.

Third Federal Savings and Loan Association (NASDAQ: TFSL), is a leading provider of savings and mortgage products, and operates under the values of love, trust, respect, a commitment to excellence and fun. Founded in Cleveland in 1938 as a mutual association by Ben and Gerome Stefanski, Third Federal’s mission is to help people achieve the dream of home ownership and financial security. It became part of a public company in 2007 and celebrated its 80 th anniversary in May, 2018. Third Federal, which lends in 21 states and the District of Columbia, is dedicated to serving consumers with competitive rates and outstanding service. Third Federal, an equal housing lender, has 21 full service branches in Northeast Ohio, eight lending offices in Central and Southern Ohio, and 17 full service branches throughout Florida. As of March 31, 2018, the Company’s assets totaled $13.96 billion. For more, visit our website at Thirdfederal.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180612005965/en/

CONTACT: Third Federal Savings and Loan

David Reavis, 216-429-5036



SOURCE: Third Federal Savings and Loan

Copyright Business Wire 2018.

PUB: 06/12/2018 10:16 AM/DISC: 06/12/2018 10:15 AM


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