Dearborn Federal Savings Bank

What Dearborn Federal Savings Bank does

Dearborn Federal Savings Bank (DFSB) is a federally chartered mutual savings bank headquartered in Dearborn, Michigan, founded on December 30, 1936 by 20 local residents who each invested $1,000 during the Great Depression. The bank operates five branches (three in Dearborn, two in Dearborn Heights) and serves the greater Dearborn and Wayne County market with a traditional community-banking model organized around retail deposits, residential mortgage lending, and small-business banking. It is structured as a mutual institution with no shareholders or public stock; depositors are the owners, and the bank maintains long-term customer relationships rather than optimizing for quarterly returns.

The bank's core business is residential mortgage lending, and it retains mortgage servicing rights for the life of each loan rather than selling them to third parties. The product suite spans personal deposit accounts (Regular Checking, Community Checking, Insured E-Z Access Fund, Statement Savings, CDs from 91 days to 10 years, IRAs), lending products (mortgages, HELOCs, home equity loans, commercial loans and lines of credit), and digital services (online banking, a mobile app on iOS and Android with mobile deposit, bill pay, and e-statements). Pricing is structured around APY tiers, minimum-balance thresholds, and modest service fees, with a 0.125% rate discount available for online mortgage applications paired with auto-pay from a DFSB deposit account. A Community Development Credit Program extends subsidized mortgage terms to income-eligible Michigan borrowers.

Revenue is generated primarily through net interest income on mortgages, HELOCs, and commercial loans held on the balance sheet, supplemented by deposit account fees, interchange income from DFSB-branded Debit Mastercard and gift cards, and merchant processing fees via a FinNet referral partnership. The bank holds no venture or private-equity backing and is regulated by the Office of the Comptroller of the Currency with FDIC insurance. Its go-to-market relies on community sponsorships, local events, organic social media, and a MortgageWebCenter application portal, supported by a salesforce of non-commission loan officers and dedicated CRA lending staff.

Name

Dearborn Federal Savings Bank

Legal name

Dearborn Federal Savings Bank

Website

https://mydfsb.com

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

11–50 employees

Short description

Dearborn Federal Savings Bank is a federally chartered mutual savings bank serving Dearborn and Dearborn Heights, Michigan with retail deposits, residential mortgages, HELOCs, commercial lending, and digital banking across five branches.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Savings Institution, Federally Chartered (6035), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industry

Loss Mitigation & Home Retention Servicing (Modifications/Forbearance/Repayment Plans) (FSALAEAG)

Keywords

• Community banking services
• Residential mortgage lending
• Retail deposit products
• HELOC lending
• Commercial banking services

Headquarters

HQ city

Dearborn

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Lending: Primary revenue stream from interest on mortgage loans (residential and commercial), HELOCs, and other credit products. The bank remains as mortgage servicer for the life of the loan rather than selling to third parties.
2. Deposit Account Fees and Service Charges: Monthly service fees, minimum balance charges, and other account-related fees from checking, savings, CD, and IRA accounts. Some fees waived for seniors aged 60+.
3. Commercial Banking Services: Business checking, savings, CDs, and payment solutions (credit card processing) for commercial customers in Wayne County.
4. Interchange and Transaction Fees: Debit card transaction fees, including daily purchase limits of $2,500 and ATM withdrawal limits of $500. Gift card sales at $4.95 per card.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Dearborn Federal Savings Bank is a federally chartered mutual savings bank that provides retail and community banking services to individual consumers and small/medium businesses in the Dearborn and Wayne County, Michigan area. Its core offering centers on residential mortgage lending—with the bank retaining servicing rights for the life of the loan—supported by a full suite of deposit products (checking, savings, CDs, IRAs), home equity lending, commercial lending, digital banking, and a Community Development Credit Program serving low- and moderate-income borrowers.

Product overview

Dearborn Federal Savings Bank is a federally chartered mutual savings bank headquartered in Dearborn, Michigan, founded in 1936. The bank operates as a traditional community banking institution with five branch locations in Dearborn and Dearborn Heights, offering a unified portfolio of retail and commercial banking products alongside a set of digital banking services. The retail deposit suite includes Regular Checking, Community Checking (a fee-free option), and Insured E-Z Access Fund accounts; Statement Savings accounts; Personal Certificates of Deposit (CDs) in terms from 91 days to 10 years plus Jumbo CDs; and Individual Retirement Accounts (IRAs) in variable and fixed rate terms from 18 months to 10 years. On the lending side, the bank offers Mortgages (retaining servicing in-house rather than selling to third parties), HELOCs and Home Equity Loans, and Commercial Lending. Business banking includes Commercial Checking, Commercial Savings, and Commercial CDs. The bank also provides a suite of digital services comprising Online Banking (web-based account management), a Mobile Banking App (iOS and Android), Mobile Deposit, Bill Pay, and E-Statements. Ancillary services include Debit Mastercard and Gift Card products, Payment Solutions (merchant services) via FinNet, ATM and Branch services, Secure File Upload, Safe Deposit Boxes, and a Mortgage Calculator tool. The bank also operates a Community Development Credit Program (CDCP) providing subsidized mortgage financing for eligible Michigan homebuyers.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Checking An interest-bearing personal checking account with a $200 minimum opening deposit, requiring a $400 minimum daily balance to earn interest and avoid a $5 monthly service fee (waived for customers age 60 and over). Interest is compounded and paid monthly, with the first 20 checks provided free of charge.
• Community Checking A fee-free personal checking account with no minimum balance requirements, no monthly service fees, and no per-check charges. No interest is paid on this account type, with a suggested $200 minimum opening deposit.
• Insured E-Z Access Fund A money market-style account offering competitive interest rates with FDIC insurance coverage, requiring a $2,500 minimum opening deposit. Interest is compounded and paid monthly, with up to six pre-authorized transfers permitted per statement cycle.
• Statement Savings A personal savings account with a $25 minimum opening deposit and a $200 minimum daily balance required to earn interest and avoid a $5 quarterly service fee (waived for minors under 18 and customers age 60 and over). Interest is compounded and paid quarterly.
• Certificates of Deposit (CDs) Fixed-rate CD accounts available in terms of 91 days, 182 days, and 1 to 10 years, with a $500 minimum opening deposit. Jumbo CDs are also available. Interest can be compounded at maturity or annually depending on term, with automatic renewal at maturity standard.
• Individual Retirement Accounts (IRAs) Traditional IRA CD accounts available in 18-month variable and fixed rate terms as well as 1 to 10 year fixed-rate terms. Require a $100-$250 minimum opening deposit depending on term, and are eligible to receive roll-over contributions from qualified employer-sponsored plans.
• Mortgages Residential mortgage lending products including long-term affordable mortgages, with the bank acting as the sole mortgage servicer for the life of the loan rather than selling servicing rights to third parties. Features include flexible escrow terms tailored to Michigan's Property Tax Uncapping laws and streamlined PMI removal. A 0.125% rate discount applies when the borrower applies online and sets up auto-payment from a DFSB checking or savings account.
• HELOCs and Home Equity Loans Home equity lines of credit (HELOCs) and home equity loans enabling homeowners to borrow up to approximately 80% of their home's value. HELOCs provide a revolving line of credit with variable rates where repaid funds become available again, and interest may be tax-deductible in some cases.
• Commercial Lending Commercial loans and lines of credit for businesses that own land or real estate, providing access to capital for expanding operations or purchasing fixed assets.
• Commercial Checking A business checking account with a $400 minimum opening deposit and a competitive fee schedule. A monthly earnings credit accrues on the average daily collected balance and can be used to offset monthly service charges, potentially eliminating fees entirely at higher balances.
• Commercial Savings A business savings account with a $25 minimum opening deposit and a $200 minimum daily balance required to earn interest and avoid a $5 quarterly service fee. Interest is compounded and paid quarterly, with EFT activity (ATM and ACH transactions) supported.
• Commercial Certificates of Deposit Business-oriented fixed-rate CD accounts with a variety of investment terms, allowing commercial customers to earn competitive fixed interest on funds set aside for future use.
• Community Development Credit Program (CDCP) An alternative financing program offering down payments as low as 3% (pending PMI approval), a 0.375% rate discount for the life of the loan, waived origination fees, and low closing costs for eligible Michigan primary residence purchases and refinances. Income is limited to up to 120% area median income, minimum credit score of 620 is required, and homebuyer education from a HUD-certified counselor is mandatory.
• Payment Solutions (Merchant Services) Credit card processing services for business customers, facilitated through a partnership with FinNet.
• ATM and Branch Services Five branch locations across Dearborn and Dearborn Heights, Michigan, each equipped with a drive-up ATM. All DFSB ATM transactions are fee-free for DFSB checking or savings account holders. Night depository services are available at most branches.
• Debit Mastercard A DFSB-branded debit Mastercard accepted everywhere debit cards are accepted, featuring contactless payment capabilities, daily debit purchase limits of up to $2,500, and daily ATM withdrawal limits of up to $500 worldwide. Linked to both interest-earning and non-interest-earning transaction accounts.
• Gift Cards DFSB-branded gift cards purchasable at any of the bank's five branch locations for $4.95 per card, generally usable anywhere major debit cards are accepted. Available to both checking and savings account holders.
• Safe Deposit Boxes Safe deposit box rental services available by scheduling an appointment at any DFSB branch location.

Quantifiable outcome

• 0.125% mortgage rate discount for online application + auto-pay from DFSB checking or savings account
• +5 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered minor and core.

• The Henry FordminorGTM or Marketing PartnerDearborn Federal Savings Bank is a proud Corporate Member of The Henry Ford museum. This partnership supports cultural preservation and education in the Dearborn community while building brand visibility with museum visitors.
• Dearborn Area Chamber of CommerceminorGTM or Marketing PartnerDearborn Federal Savings Bank is a proud member of the Dearborn Area Chamber of Commerce, supporting local business community development and networking opportunities.
• Life RemodeledcoreStrategic or Co-development PartnerDFSB is a partner with Life Remodeled, a non-profit that bridges people across divides to help transform each other's lives by investing approximately $5 million in cash, labor and materials into one Detroit neighborhood each year. Projects assist in renovating community assets, repairing owner-occupied homes, and mobilizing 10,000 volunteers to beautify 300 city blocks in six days.
• Dearborn Education FoundationminorGTM or Marketing PartnerDearborn Federal Savings Bank is a proud sponsor of the Dearborn Education Foundation, supporting educational initiatives in the local community.
• FORE DearbornminorGTM or Marketing PartnerDearborn Federal Savings Bank is a proud sponsor of FORE Dearborn, supporting local community golf and fundraising events.
• Friends for Animals of Metro DetroitminorGTM or Marketing PartnerDearborn Federal Savings Bank is a proud sponsor and supporter of Friends for Animals of Metro Detroit (Fore the Animals event), supporting animal welfare in the metro Detroit community.
• Dearborn HomecomingminorGTM or Marketing PartnerDearborn Federal Savings Bank is a proud sponsor of the Dearborn Homecoming community festival and celebration.
• Dearborn Goodfellows Smoke-on-the-GrillminorGTM or Marketing PartnerDearborn Federal Savings Bank is a proud sponsor of the Dearborn Goodfellows Smoke-on-the-Grill event in support of Dearborn Public Schools and their Parent Teacher Student Association.
• Marine Forces Reserve BandminorGTM or Marketing PartnerDearborn Federal Savings Bank is a proud sponsor of the Marine Forces Reserve Band at the Dearborn Memorial Day parade, supporting community patriotic events.
• The Exchange Club of DearbornminorGTM or Marketing PartnerDearborn Federal Savings Bank is a proud Member of The Exchange Club of Dearborn, supporting community service and crime prevention initiatives.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Chelsea State Bank: Michigan community bank offering retail deposits, mortgages, and commercial lending with community-development focus, comparable in scale and product mix to DFSB.
• First Independence Bank: Detroit-headquartered community bank with a comparable focus on CRA lending, community development programs, and serving underserved Wayne County and metro Detroit borrowers — directly overlapping DFSB's CDCP-style mission.
• Level One Bank: Michigan-based community bank offering retail deposits, residential mortgages, and commercial lending with a similar community-focused relationship model and a comparable physical branch footprint in Southeast Michigan.
• Monroe Bank & Trust: Michigan community bank offering residential mortgages, deposit products, and commercial lending through a multi-branch network, sharing DFSB's model of relationship banking in a single Michigan region.
• Bank of Ann Arbor: Independent Michigan community bank with a similar deposit-and-residential-mortgage mix, multi-branch presence, and a community bank operating philosophy anchored in Southeast Michigan.

Regional players

• LMCU (Lake Michigan Credit Union): Michigan-headquartered depository institution offering checking, savings, mortgages, and HELOCs across the state, directly competing with DFSB for the same Wayne County household deposits and mortgage originations.
• Independent Bank Corporation: Michigan community bank holding company with a multi-branch residential mortgage and retail deposit franchise across the state, overlapping DFSB's geographic and product footprint at a larger scale.
• Mercantile Bank Corporation: Michigan-based regional bank offering a comparable retail and commercial banking product set including residential mortgages, serving overlapping geographies in Greater Michigan.

Broad incumbents

• Huntington Bancshares: Large regional bank with deep Michigan retail branch network offering mortgages, deposits, and commercial banking — a scaled incumbent competing for the same Wayne County households and small businesses.
• Flagstar Bank: Michigan-headquartered bank with a large national mortgage origination and servicing franchise and a retail deposit base, representing a much larger incumbent competing for the same residential mortgage and deposit customers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/mydfsb
• Instagraminstagram.com/mydfsb

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dearborn Federal Savings Bank