Third Federal Savings and Loan Association of Cleveland

Headquarters

7007 Broadway Avenue
Cleveland, OH 44105
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.40% →
1-Year CD 0.50% 1.15% →
2-Year CD 0.50% 1.26% →
5-Year CD 0.95% 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Third Federal Savings and Loan Association of Cleveland is an FDIC insured institution located in Cleveland, OH. It was founded in 1938 and has approximately $14.79 billion in assets. Customers can open an account at one of its 38 branches.

FDIC Insured Yes
FDIC Certificate # 30012
Date Established 1938
Assets $ 14.79 billion
Loans $ 13.48 billion
Deposits $ 9.13 billion
Capital $ 1,441.02 million
 

For a more detailed analysis of Third Federal Savings and Loan Association of Cleveland's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - July 4, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $10 $24,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.25% $500 - Learn More
12 Mo CD
0.50% $500 - Learn More
18 Mo CD
0.50% $500 - Learn More
24 Mo CD
0.50% $500 - Learn More
30 Mo CD
0.50% $500 - Learn More
36 Mo CD
0.75% $500 - Learn More
48 Mo CD
0.90% $500 - Learn More
60 Mo CD
0.95% $500 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.50% $100 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $10 $4,999 Learn MoreShow Less

Loan Rates - July 4, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Third Federal Savings and Loan Association of Cleveland

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
3.039% 3.000% 0.50 $1,250 $1,055 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info

Note to Third Federal Savings and Loan Association of Cleveland
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Third Federal Savings and Loan Association of Cleveland branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Third Federal Savings and Loan Association of Cleveland Locations


Financial Details

Third Federal Savings and Loan Association of Cleveland Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Third Federal Savings and Loan Association of Cleveland. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Third Federal Savings and Loan Association of Cleveland U.S. Bank Average
4.27% 6.51%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2019, Third Federal Savings and Loan Association of Cleveland had $60,308,000 in non-current loans and $2,813,000 in owned real estate. To cover these potential losses it had $1,441,015,000 in equity and $37,292,000 in loans loss reserves. That gives it a Texas Ratio of 4.27%.

Return on Equity
Third Federal Savings and Loan Association of Cleveland U.S. Bank Average
5.41% 9.41%

Third Federal Savings and Loan Association of Cleveland has a Return on Equity of 5.41% versus the BestCashCow average of 9.41%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Third Federal Savings and Loan Association of Cleveland U.S. Bank Average
9.74% 12.82%

Third Federal Savings and Loan Association of Cleveland has a Capitalization of 9.74% versus the BestCashCow average of 12.82. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Third Federal Savings and Loan Association of Cleveland Balance Sheet Analysis

As of December 31, 2019, Third Federal Savings and Loan Association of Cleveland had assets of $14,789,845,000, loans of $13,477,380,000, and deposits of $9,134,202,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 274.37 million
Interest-bearing balances $ 254.88 million
Total securities $ 554.00 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 13.48 billion
Loan loss allowance $ 37.29 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 2.81 million
Goodwill and other intangibles $ 15.09 million
All other assets $ 407.87 million
     Total Assets $ 13.35 billion
LIABILITIES
Total deposits $ 9.13 billion
      Interest-bearing deposits $ 9.00 billion
      Deposits held in domestic offices $ 9.13 billion
      % insured (estimated) 96.65%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 4.15 billion
Subordinated debt N.A.
All other liabilities $ 63.74 million
      Total Liabilities $ 13.35 billion
      Shareholders’ Equity $ 1,441.02 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 482.16 million
Total Interest Expense $ 228.83 million
Net interest income $ 253.33 million
Provision for loan and lease losses N.A.
Total non interest income $ 16.98 million
Total non interest expense $ 179.61 million
Pre-tax Net Operating Income $ 101.71 million

Bank Loan Profile?

The top three loan types in Third Federal Savings and Loan Association of Cleveland’s loan portfolio are 1-4 Family Residential Loans, Construction and Development Loans, and Multifamily Mortgages.

Compared to other banks in Ohio, Third Federal Savings and Loan Association of Cleveland has a significantly higher percent of 1-4 Family Residential Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 100.00
Multifamily
Mortgages
0.02
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.17
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Frequently Asked Questions About Third Federal Savings And Loan Association Of Cleveland

Branches and Savings

Is Third Federal Savings And Loan Association Of Cleveland FDIC insured?

Yes. It is covered under FDIC Certificate #30012.

Why does Third Federal Savings And Loan Association Of Cleveland pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Third Federal Savings And Loan Association Of Cleveland CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Third Federal Savings And Loan Association Of Cleveland a commercial bank?

Yes

Where are Third Federal Savings And Loan Association Of Cleveland locations?

See branch locations nearby.

Is Third Federal Savings And Loan Association Of Cleveland open on Saturdays?

Is Third Federal Savings And Loan Association Of Cleveland open on Sundays?

What time does Third Federal Savings And Loan Association Of Cleveland open?

What time does Third Federal Savings And Loan Association Of Cleveland close?

Are Third Federal Savings And Loan Association Of Cleveland ATMs Open 24/7?

Do Third Federal Savings And Loan Association Of Cleveland ATMs accept cash deposits?

Can Third Federal Savings And Loan Association Of Cleveland customers use other ATMs?

Do Third Federal Savings And Loan Association Of Cleveland branches have notaries?

Will Third Federal Savings And Loan Association Of Cleveland notarize my document?

What address for Third Federal Savings And Loan Association Of Cleveland should I put for incoming ACH transfers?

Will the Third Federal Savings And Loan Association Of Cleveland branch print checks?

Do Third Federal Savings And Loan Association Of Cleveland checks expire?

Does Third Federal Savings And Loan Association Of Cleveland require US citizenship to open account?

Can Third Federal Savings And Loan Association Of Cleveland close my account?

Does Third Federal Savings And Loan Association Of Cleveland Report to credit bureaus?

Does Third Federal Savings And Loan Association Of Cleveland Use Equifax?

What is Third Federal Savings And Loan Association Of Cleveland's ACH Routing Number?

What is Third Federal Savings And Loan Association Of Cleveland's SWIFT code?

Products

Does Third Federal Savings And Loan Association Of Cleveland offer mortgages?

Compare mortgage rates here.

Does Third Federal Savings And Loan Association Of Cleveland offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Third Federal Savings And Loan Association Of Cleveland offer personal loans?

Compare personal loan rates here.

Does Third Federal Savings And Loan Association Of Cleveland offer student loans?

Will Third Federal Savings And Loan Association Of Cleveland cash a check?

Will Third Federal Savings And Loan Association Of Cleveland redeem a savings bond?

Does Third Federal Savings And Loan Association Of Cleveland cash savings bonds?

Will Third Federal Savings And Loan Association Of Cleveland cash money orders?

Can Third Federal Savings And Loan Association Of Cleveland issue a money order?

Does Third Federal Savings And Loan Association Of Cleveland do currency exchange?

Background on The Bank

Who owns Third Federal Savings And Loan Association Of Cleveland?

How long has Third Federal Savings And Loan Association Of Cleveland been around?

Can Third Federal Savings And Loan Association Of Cleveland transfer to other banks?

Does Third Federal Savings And Loan Association Of Cleveland have quick pay?

Does Third Federal Savings And Loan Association Of Cleveland accept rolled coins?

Will Third Federal Savings And Loan Association Of Cleveland accept loose change?

Where is Third Federal Savings And Loan Association Of Cleveland headquarters?

Customer Reviews for Third Federal Savings and Loan Association of Cleveland

There are currently no comments for Third Federal Savings and Loan Association of Cleveland. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →