First Federal Lakewood

Retail Bankingffl.net

First Federal Lakewood is an Ohio-based mutual savings bank founded in 1935, serving retail consumers and small-to-medium businesses with checking, savings, lending, and treasury management products distributed through branches and digital channels.

Company typePrivate
Founded1935
HeadquartersLakewood, United States
Headcount251–500
GTM typeB2B and B2C
OfferingServices

What First Federal Lakewood does

First Federal Lakewood is a mutual savings bank headquartered at 14806 Detroit Avenue in Lakewood, Ohio, founded in 1935 and operating as an affiliate of First Mutual Holding Co. The institution is owned by its depositors rather than external shareholders, with profits reinvested into local lending, community support (150+ organizations), and member services. It serves both retail consumers and small-to-medium businesses through a combination of physical Ohio branches and digital channels (iOS/Android mobile apps, online banking platform with Personal Finance Manager).

The product suite spans full-service retail banking (checking, savings including the Uplift Savings Account at up to 2.02% APY, certificates of deposit), consumer lending (mortgage, home equity, auto/boat), and commercial banking (business checking/savings, SBA loans, the Buckeye Business Advantage lending program, treasury management, and a Commercial Banking Group). Supporting capabilities include digital wallet integration (Apple Pay, Google Pay), third-party loan payment processing via paybill.com, and the FFL University financial-literacy platform built on EverFi Next. The technology stack is conventional community-bank infrastructure — core banking systems plus mobile and web front ends — with no proprietary AI, API, or data-flywheel components disclosed.

The revenue model is a traditional bank spread-and-fee structure: net interest income from lending activities (mortgages, home equity, auto/boat, commercial, SBA) funded by retail and business deposits, supplemented by non-interest fee income from account services, debit card, and wire transactions. Distribution is multi-channel — branch, mobile app, online banking, social media (Facebook, LinkedIn, YouTube, Instagram), and earned media (public television). The only confirmed recent strategic move is the announced merger (Oct 2025) to acquire First Federal Savings & Loan Association of Centerburg, expected to close early 2026, extending in-market Ohio consolidation.

First Federal Lakewood firmographics

Firmographics

Name: First Federal Lakewood
Legal name: First Federal Lakewood
Website: https://ffl.net
Company type: Private
Founded year: 1935
Operating status: Operating
Headcount range: 251–500 employees
Short description: First Federal Lakewood is an Ohio-based mutual savings bank founded in 1935, serving retail consumers and small-to-medium businesses with checking, savings, lending, and treasury management products distributed through branches and digital channels.
Ownership category
akta.pro rank

First Federal Lakewood industry classification

Industry

Product category: Retail Banking
NAICS: Savings Institutions and Other Depository Credit Intermediation (522180)
SIC: Savings Institutions, Not Federally Chartered (6036)
akta.pro primary industry: Mutual Savings Banks & Mutual Thrifts (FSABAEAD)
akta.pro secondary industry: SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

Mutual savings bank
Community banking
Personal banking
Business lending
Mortgage lending

Where First Federal Lakewood is headquartered

Location

Headquarters

HQ city: Lakewood
HQ country: United States
HQ region: North America

Offices1 record

Markets served

First Federal Lakewood business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

Interest Income: Traditional banking revenue from interest earned on loans (mortgages, home equity, auto/boat loans, business loans, SBA loans) and securities. As a mutual bank, profits are reinvested into services and community rather than distributed to shareholders.
Fee Income: Non-interest income from account fees, debit card transactions, wire transfers, and other banking service charges.
Deposit Funding: Gathering of deposits (checking, savings, CDs) from personal and business customers, which are then deployed into lending activities and investments.

Pricing tiers

Model	Billing	Price
Subscription	Monthly	Checking accounts with no or low fees, debit card access, and online banking included
Subscription	Monthly	Savings accounts including Uplift Savings with up to 2.02% APY
Subscription	Annual	Certificates of Deposit with various terms
Transaction based/ take rate	Monthly	Mortgage and lending products

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

First Federal Lakewood product offering

Product offering

Core offering

First Federal Lakewood is a mutual savings bank offering personal and business banking products including checking accounts, savings accounts (with the Uplift Savings Account earning up to 2.02% APY), certificates of deposit, mortgage and home equity loans, auto and boat loans, business checking and savings, SBA loans, treasury management, and a commercial banking group. The bank serves consumers and small-to-medium businesses primarily in Ohio through physical branches and a digital banking platform accessible via web and mobile app.

Product overview

First Federal Lakewood operates as a mutual bank (owned by depositors, not shareholders) offering a comprehensive suite of personal and business banking products. The personal banking division includes checking and savings accounts (with the Uplift Savings Account sub-product), certificates of deposit, and Online & Mobile Banking with Personal Finance Manager. The borrowing segment covers mortgage loans, home equity products, and auto/boat loans. Business banking encompasses checking, savings, CDs, Business Lending with the Buckeye Business Advantage program, SBA Loans, Treasury Management, Commercial Banking Group, and Business Online Banking. Educational resources include FFL University and various financial planning guides. The bank also provides loan payment services via a third-party processor. All products are integrated under the mutual banking model with community focus as the core differentiator.

Differentiator

Problem solved

Functional benefit

Products and services

Personal Checking Accounts Individual checking accounts with debit card functionality for in-store and online purchases, with mobile digital wallet support.
Savings Accounts Personal savings accounts for individual customers, including the Uplift Savings Account option with no minimums and no fees.
Uplift Savings Account Specialty savings account earning up to 2.02% APY with no minimums, no surprise fees, and no restrictions, designed to support community reinvestment.
Certificates of Deposit Time deposit accounts for personal banking customers seeking fixed-term savings with guaranteed returns.
Online & Mobile Banking Digital banking platform enabling customers to access accounts, manage finances, view statements, and use Personal Finance Manager tools for budgeting and goal-setting.
Mobile Banking App Native mobile application for iOS and Android enabling banking on the go with secure account access, mobile deposits, and digital wallet integration.
Mortgage Loans Home financing products including various mortgage types, dedicated loan originators, free consultations, and homebuying guide resources.
Home Equity Products Home equity loans and lines of credit allowing homeowners to leverage property value for additional financing needs.
Auto & Boat Loans Vehicle financing for automobiles and boats with competitive rates for personal banking customers.
Business Checking Commercial checking accounts designed for businesses to manage daily operations and transactions.
Business Savings Savings accounts tailored for business owners to deposit and grow business funds.
Business Lending Commercial loan products for business expansion, equipment purchases, and working capital needs.
Buckeye Business Advantage Specialized lending program supporting Ohio businesses with customized financing solutions.
SBA Loans Small Business Administration loan products providing government-backed financing options for eligible businesses.
Treasury Management Cash management and treasury services for businesses to optimize liquidity and financial operations.
Commercial Banking Group Dedicated team providing relationship banking and commercial lending services for larger business clients.
Business Online Banking Digital banking platform for business customers to manage accounts, view transactions, and conduct commercial banking activities online.
Retirement and Investing Business retirement planning and investment products to help business owners and employees prepare for retirement.
Debit Card Debit card product for checking account holders enabling secure in-store and online purchases, with mobile digital wallet add capability.
Loan Payment Services Third-party online loan payment processing service enabling customers to make mortgage and loan payments online.

Quantifiable outcome

Earn up to 2.02% APY on Uplift Savings Account

Companies that use First Federal Lakewood

Customer profile

Named customers1 record

Segments3 records

Ideal customer profiles2 records

First Federal Lakewood technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

First Federal Lakewood partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

First Federal Savings & Loan Association of CenterburgcoreStrategic or Co-development Partner · 28 October 2025Merger agreement announced on October 28, 2025, with expected closing in early 2026. First Federal Lakewood will acquire First Federal of Centerburg to enhance services and strengthen mutual banking presence in Ohio. Post-merger, First Federal of Centerburg will adopt the First Federal Lakewood branding and continue serving the local community with expanded services and access to modern banking technology.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

First Federal Lakewood competitors and assessment

Company assessment

Regional players

Park National Corporation: Ohio-based community bank holding company operating through Park National Bank and other divisions. Comparable community-focused commercial and consumer banking model with similar SMB and retail customer base in Ohio.
WesBanco: Multi-state community bank serving Ohio, West Virginia, Pennsylvania, and Kentucky with consumer and commercial banking products. Similar size band and product mix as First Federal Lakewood, though structured as a stock-held holding company.
First Financial Bancorp: Ohio-headquartered community bank operating commercial banking, consumer lending, and wealth management across Ohio, Indiana, and Kentucky. Comparable regional community banking franchise serving similar SMB and consumer segments.

Broad incumbents

Huntington Bancshares: Large regional bank headquartered in Columbus, Ohio, with comprehensive consumer, commercial, and wealth management offerings. Represents the broad incumbent competitor that First Federal Lakewood competes against in the Ohio market.
Fifth Third Bank: Major Midwest bank with deep Ohio presence across consumer, commercial, and mortgage banking. Direct competitor for deposits, mortgages, and SMB relationships in First Federal Lakewood's core market.

Emerging players

Wright-Patt Credit Union: Large Ohio-based credit union offering consumer banking, mortgages, and business services. Represents an alternative community-focused depository competing for similar Ohio retail and SMB customers under a cooperative structure.

Direct peers

Dollar Bank: Pittsburgh-based mutual savings bank offering personal and business banking, mortgages, and community-focused services. Closest structural analog to First Federal Lakewood as a privately held mutual savings institution in the Midwest.
Third Federal Savings & Loan Association: Direct peer mutual savings bank headquartered in Cleveland, Ohio. Operates a similar mutual bank model with deposit-taking, mortgage lending, and savings products across Ohio and select Sun Belt markets. Highly comparable on structure, geography, and product mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

First Federal Lakewood compliance and trust

Trust signal

Compliance1 record

First Federal Lakewood financial estimates

Financial estimate

Revenue estimate

Valuation estimate

First Federal Lakewood leadership team

Management profile

Number of profiles

Profiles2 records

First Federal Lakewood subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

First Federal Lakewood funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

First Federal Lakewood M&A and investment

M&A and investment

M&A2 records

Investments

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

Frequently asked questions about First Federal Lakewood

What does First Federal Lakewood do?

Is First Federal Lakewood a public or private company?

First Federal Lakewood is a private company. It is classified as unknown and is currently operating.

When was First Federal Lakewood founded?

First Federal Lakewood was founded in 1935. It employs 251 to 500 people.

Where is First Federal Lakewood based?

First Federal Lakewood is headquartered in Lakewood, United States, in the North America region.

How does First Federal Lakewood make money?

Three revenue lines are on record. Interest Income is the primary driver. The others are fee Income and deposit Funding.

Who are First Federal Lakewood's main competitors?

Regional players on record are Park National Corporation, WesBanco and First Financial Bancorp. Broad incumbents are Huntington Bancshares and Fifth Third Bank. Wright-Patt Credit Union is listed as an emerging player. Direct peers are Dollar Bank and Third Federal Savings & Loan Association.

Does First Federal Lakewood have an API?

No public API is recorded for First Federal Lakewood.

What industry is First Federal Lakewood in?

First Federal Lakewood's product category is Retail Banking. Its primary akta.pro industry code is FSABAEAD, Mutual Savings Banks & Mutual Thrifts, with a secondary code of FSAKAGAI, SBA/Government-Backed & Development Finance Loans. Its NAICS code is 522180 and its SIC code is 6036.