At Third Federal Savings & Loan, 88 percent of employees say their workplace is great.



This review is based on 792 employee surveys, with a 90% confidence level and a margin of error of ± 1.35. It was published on Sep 21, 2016. 4763 Visitors

What Employees Say

I believe management would lay people off only as a last resort.
I feel good about the ways we contribute to the community.
People celebrate special events around here.
I'm proud to tell others I work here.
When I look at what we accomplish, I feel a sense of pride.

What They Do

We asked Third Federal Savings & Loan to explain what they do. Here is what they had to say.

We are a leading financial institution specializing in mortgage lending in 21 states and the District of Columbia. As a traditional savings and loan, we also specialize in savings and checking accounts, certificates of deposit (CDs) and retirement CDs.

About this Company

Website: Industry: Financial Services & Insurance
US Headquarters: Cleveland, Ohio US Sites: 47
Major Locations: Cleveland, Ohio; Parma, Ohio; Middleburg Heights, Ohio US Employees: 1,007
US Revenues: $408 million Worldwide Revenues: $408 million
Corporate Structure: Public Stock Symbol: TFSL
Founded: 1938

Third Federal Savings & Loan has been awarded:

Best Workplaces for Baby Boomers 2016 (ranked 18)

The Third Federal Associate Appreciation event

Perks and Programs

We asked Third Federal Savings & Loan to share a few programs they feel really capture what's unique about their workplace. Here is what they had to say.

  • Commit to Fit: Provides up to $1200 gross during the year to associates for a working toward a healthy lifestyle. The program incorporates quarterly exercise, nutrition and stress management challenges to keep associates engaged.
  • Commit to Quit: Third Federal is smoke free at our corporate campus and all of our branch locations. Any associate that commits to quitting smoking and does so for a year receives $1000 net for their effort.
  • Stock ownership (ASOP: Each year since the company went public in 2007, our Board of Directors has granted an equal number of stock shares to each eligible associate, based on the company's performance. The shares are deposited into associates' 401(k) and are granted regardless of the associate's position in the company.
  • Associate Appreciation Days: Associates marking their 5,10,15,20,25,30,35,40,45, or 50 years with the company receive an extra vacation day(s) the year after their anniversary as a thank you for their hard work and dedication. Associates with the company for 5 years receive one extra day, those with 10 years receive three extra days, and those with 15 or more, receive an extra week of vacation.
  • Twice-yearly bonus opportunities: If the company meets or exceeds expectations, all associates are eligible to receive a cash bonus in January and July, based on the company’s business success and the associate's performance. It recognizes that it takes teamwork to keep us successful, and members of the team are rewarded for it.
  • No office connectivity after work hours: Third Federal does not have company-issued laptops or smartphones because we value a work/life balance. There isn't the pressure put on associates to do work after hours, or while on vacation. In this way, associates can truly disconnect and spend quality time with their families and friends, resulting in a happier work environment.


100% 401(k) match of employee's contribution, up to 4% of an employee's salary80% Company-paid health coverage for employees
80% Company-paid health coverage for dependents 80% Company-paid health coverage for part-timers
30 hours Weekly hours required for part-timers to receive health insurance


  • 401(k)
  • Employee stock ownership plan
  • Pre-tax savings account


  • Free beverages during the day
  • Take-home meals on a regular, daily basis
  • Fitness classes
  • Subsidized lunch on a regular, daily basis
  • On-site package/mailing service
  • Banking
Our Florida associates celebrating another great year


23 days Paid time off after one year of full-time employment 23 days Paid time off after one year of part-time employment
6 days Paid sick days after one year of full-time employment 6 days Paid sick days after one year of part-time employment


  • Flexible schedule (27% use it)
  • Compressed work weeks (1% use it)


130 days Job-protected maternity leave53 days Average length of maternity leave new mothers take
130 days Job-protected paternity leave7 days Average length of paternity leave new fathers take
$13,460 Adoption benefit130 days Job-protected parental leave for adoptive parents


  • Lactation room(s)
  • Paid sick leave to care for a child or relative
  • Elder care resources


  • Medical care
  • Vision care
  • Mental health care
  • Fertility treatments
  • Dental care
  • Prescription drug subsidy
  • Alternative treatments (such as acupuncture, homeopathy, or chiropractic)


  • Cholesterol tests
  • Flu shots
  • Fitness center (only at headquarters)
  • Blood pressure screening
  • Complete biometric screening

Community Involvement & Philanthropy

$3,579,965 Philanthropic donations in last year


  • Married employees in same-sex or heterosexual relationships receive the same benefits
  • Non-birth parents in same-sex relationships can take parental leave

Executive Diversity

Third Federal Foundation President, Kurt Karakul; Third Federal CEO, Marc A. Stefanski; and CEO of Cleveland Schools, Eric Gordon discuss public/private partnerships for educational success


Managers putting their grilling skills to good use during one of our many summer potluck luncheons

How to Get Hired

We asked Third Federal Savings & Loan for some inside information on how to get hired at the organization. Here is what they had to say.

What key characteristics tell you a prospective employee will be a great fit for your company?

Listening to how they have conducted themselves as a member of a team, or team leader.

What can prospective employees do to get your attention?

Having a strong resume and background working with a team, or teams is the big way to get our attention.

Are there any positions or types of candidates you are particularly focused on hiring in this coming year?

We are always seeking to hire more associates with strong customer-service focused backgrounds.

What should interested candidates do to find out more and get started?

Candidates who do their homework by checking out our website and asking questions show that they are interested and engaged in the hiring process.

hiring Outlook

90 Job openings forecast for coming year -0% Job Growth
82 Average applicants per opening 7,474 Applications received
91 Positions filled in past year 20% New hires by employee referrals
36 New positions created 15 Jobs filled by current employees
2 New graduates hired 3% Voluntary turnover for full-time employees
16% Voluntary turnover for part-time employees
* All figures refer to 12-month period prior to reporting, unless otherwise noted.

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