First Federal Lakewood Opens First City of Cleveland Branch

While other banks close their doors in local neighborhoods, First Federal Lakewood opens a new full service branch at 6610 Detroit Avenue

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First Federal Lakewood

Oct 14, 2014, 04:00 ET

LAKEWOOD, Ohio, Oct. 14, 2014 /PRNewswire/ -- First Federal Lakewood, the largest independent mutual bank headquartered in Ohio, expanded its Northeast Ohio footprint to 19 full-service branches by opening its first branch within the city of Cleveland at 6610 Detroit Avenue, Cleveland 44102, in the Gordon Square neighborhood.

First Federal Lakewood has been in business and helping Northeast Ohio communities thrive since 1935. Opening a new branch exemplifies the bank's long view on investing in local neighborhoods, contrary to recent banking trends of branch closures – in Cleveland and nationwide. First Federal Lakewood is committed to its new home in the city of Cleveland and will continually invest in additional development and growth within the community.

"We're enthusiastic about the energy in Cleveland. Expanding our branch network into the city of Cleveland makes perfect sense as our highest priority is planting roots in and contributing to the growth of neighborhoods where our customers live," said Thomas J. Fraser, president and CEO of First Federal Lakewood. "As a mutual bank, we reinvest customer deposits back into the local community, which means customer deposits stay close to home, helping make possible mortgage loans for local residents and financing for local business."

To celebrate the opening of the new branch, today First Federal Lakewood employees introduced the bank to its new neighborhood by surprising residents with free items from some of their favorite community merchants. From free RTA tickets to cups of coffee and specialty treats, the bank met over 250 new neighbors and invested nearly $1,000.00 in Gordon Square neighborhood businesses, including Gypsy Bean, The Big Egg, Rincon, Latitude 41, Sweet Moses and at local RTA stations and stops.

About First Federal Lakewood
First Federal Lakewood is the largest independent mutual bank headquartered in Ohio with assets of almost $1.6 billion. With 19 full-service branch locations and 11 mortgage lending offices throughout Ohio, First Federal Lakewood provides deposit, lending, residential mortgage lending, cash management and investment services to individuals and businesses. Since 1935, First Federal Lakewood has been a stable community owned bank committed to deploying funds that foster local economic growth. FFL.net

SOURCE First Federal Lakewood