CLEVELAND, March 13, 2014 (GLOBE NEWSWIRE) -- At a time when many lenders are pulling back on residential lending, Third Federal Savings and Loan (Nasdaq:TFSL) has expanded the number of states in which it offers a first mortgage refinance product to include New York, Maryland, New Hampshire and the entire state of Kentucky. Additionally, it is expanding its home equity line of credit offering to include the above states, as well as California, New Jersey and Pennsylvania.
Third Federal now offers first mortgage loans in 17 states; and home equity lines of credit in nine states.
"We are excited to expand our product offerings into new states to reach new customers," said Chairman and CEO Marc A. Stefanski. "Our continued growth means we can now serve the majority of the U.S. population with our great rates and service. Our goal is to make every customer – new or existing – feel the warmth of Third Federal, like sunshine and blue skies."
The state expansion is central to Third Federal's efforts to continue its growth by offering a variety of product offerings, competitive rates and outstanding customer service. Twenty-five percent of Third Federal's current loan production is from states other than its retail footprint of Ohio and Florida. In the past three years, Third Federal has closed nearly $830 million in loans in the following states:
- NY, MD, NH, KY (2014)
- CA (2012)
- TN, VA, CT, CO, WA, OR, NC, NJ, PA, IL (2011)
Third Federal has offered first mortgages in Florida since 2000 and Ohio since 1938.
To learn more about Third Federal's product offerings, visit thirdfederal.com.
Third Federal Savings and Loan 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, our mission is to help people achieve the dream of home ownership and financial security. We became a public company in 2007 and celebrated our 75th anniversary in 2013. Third Federal, which lends in 17 states, is dedicated to serving consumers with competitive rates and outstanding service. Third Federal 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 December 31, 2013, the assets of Third Federal Saving and Loan Association totaled $11.4 billion. For more information about Third Federal, visit us at thirdfederal.com.
CONTACT: Dave Reavis (216) 429-5036
Source: Third Federal Savings and Loan