Fairfield Federal

What Fairfield Federal does

Fairfield Federal Savings and Loan Association of Lancaster, operating as Fairfield Federal, is a federally chartered community bank founded in 1895 and headquartered at 111 East Main Street, Lancaster, Ohio. The institution operates three physical branches (Main Office, West Fair Avenue in Lancaster, and Pickerington) supplemented by 11+ ATM locations throughout Fairfield County, and extends home loans across four Ohio counties: Fairfield, Franklin, Licking, and Pickaway. Its primary business is residential mortgage lending (purchase, construction, refinance), supplemented by home equity loans and lines of credit, rental property loans, commercial real estate loans, and vacant land loans up to $1,000,000 and 90% loan-to-value without requiring private mortgage insurance.

The technology stack is built on third-party platforms rather than proprietary systems. Fiserv powers the core banking infrastructure, online banking, mobile banking app, and Card Control debit card management. Early Warning Services' Zelle is integrated for peer-to-peer payments, and Celero Commerce provides business cash management and payment processing services. Product offerings span personal and business checking, savings, money market, certificates of deposit, IRAs, and Visa/MasterCard credit cards with tiered cash back rewards. Digital channels include a mobile app for iOS and Android, online banking with QuickBooks/Quicken integration, and 24/7 telephone banking.

The business model is a traditional community banking net-interest-income model. Fairfield Federal does not use credit scoring and holds all originated loans in its portfolio rather than selling them on the secondary market, enabling flexible underwriting and customized loan structures. Revenue is generated from mortgage and consumer loan interest (15-year fixed at 6.125%, 30-year fixed at 6.375%, 5/1 ARM at 5.875%, home equity at 7.125% fixed, HELOC at 6.75%), deposit interest expense, credit card interchange and interest (Prime + 4% for Gold, Prime + 5% standard), and ancillary fee-based services including wire transfers, safe deposit boxes, overdraft services, and cash management. The go-to-market motion is relationship-driven, with local decision-making, no loan application fees, free rate locks (360-day for construction, 60-day for fixed-rate), and a 0.125% interest rate discount for automatic payment from a Fairfield Federal checking account.

Name

Fairfield Federal

Legal name

Fairfield Federal Savings and Loan Association of Lancaster

Website

https://fairfieldfederal.com

Company type

Private

Founded year

1895

Operating status

Operating

Headcount range

1–10 employees

Short description

Fairfield Federal is a federally chartered community savings and loan association serving Lancaster and Fairfield County, Ohio since 1895. It provides deposit products, residential mortgages, home equity lending, and business banking services through three branches, supported by Fiserv-powered mobile and online banking.

Ownership category

akta.pro rank

Product category

Community Banking (Residential Mortgage and Deposit Products)

NAICS

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

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB)

Keywords

• Community banking services
• Residential mortgage lending
• Home equity lending
• Business deposit accounts
• Certificate of deposit products

Headquarters

HQ city

Lancaster

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income - Mortgage Lending: Primary revenue driver from home mortgage originations including purchase, construction, and refinance loans. Also includes home equity loans, HELOCs, rental property loans, commercial real estate, and vacant land loans. Loans are held in portfolio (not sold on secondary market). Rates include 15-year fixed at 6.125%, 30-year fixed at 6.375%, 5/1 ARM at 5.875%. Home equity loans up to $100,000 at 7.125% fixed. Max home loan $1,000,000.
2. Deposit Interest and CD Operations: Interest-bearing deposit accounts including passbook savings, statement savings, money market accounts, Platinum money market, Christmas club, IRA accounts, and certificates of deposit. CD rates range from 2.00% (48-month) to 3.50% (14-month special). IRA rates from 1.00% (60-month) to 2.78% (18-month). Business accounts with interest at 0.02%.
3. Credit Card Operations: Fairfield Federal Visa and MasterCard credit cards generating interchange income and interest revenue. Interest rate is Prime plus 5% (standard) or Prime plus 4% (Gold Card for existing customers). No annual fee. Cash back reward structure on annual purchases (0.25% to 1.0% tiered). No fee for cash advances at Fairfield Federal ATMs.
4. Fee-Based Services: Fees from wire transfers (domestic and international), stop payments, overdraft privilege service, safe deposit boxes, notary service, medallion signature guarantee, night depository, and IRA annual fees ($50 for HELOC annual participation fee).
5. Business Banking and Payment Processing: Business checking accounts, savings, money market, CDs, business credit and debit cards, ACH/direct deposit, mobile POS, cloud POS, custom gift cards, Payware Mobile, and overdraft sweep services. Cash management services through Celero Commerce partnership.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Fairfield Federal is a federally chartered savings and loan association providing full-service community banking to individuals, families, and businesses in Lancaster, Pickerington, and surrounding Ohio counties. Its primary lending business is home mortgage loans (purchase, construction-to-permanent, refinance, home equity, HELOC, rental property, commercial real estate, and vacant land), complemented by deposit products (checking, savings, money market, CDs, IRAs), Visa/MasterCard credit cards, business banking and cash management, and digital banking channels (online banking, mobile app, Card Control, Zelle).

Product overview

Fairfield Federal is a federally-chartered savings and loan association offering a comprehensive suite of consumer and business banking products through a three-branch network in Lancaster and Pickerington, Ohio. The product portfolio centers on traditional deposit products (checking, savings, CDs, IRAs) and lending products (residential mortgages, home equity loans/lines of credit, commercial real estate, rental property, and land loans), supplemented by credit cards, business banking services, and electronic banking channels. The digital banking platform includes online banking, a mobile banking app, Card Control (powered by Fiserv), and Zelle P2P payments. Core differentiators include no application fees on loans, no PMI requirements, in-house loan servicing, and community-focused banking since 1895.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Personal checking accounts including Interest Earning Checking, Free Checking, and Senior Checking (60+) with no monthly service charges for qualifying accounts. Features debit cards, overdraft privilege services, and check imaging. For personal banking customers in Fairfield County and surrounding Ohio counties.
• Savings Accounts Multiple savings products including Passbook Savings ($5 minimum), Statement Savings ($100 minimum), Christmas Club Savings, Saturday Savers (children's accounts), and Money Market Deposit Accounts with tiered interest rates. For personal banking customers seeking insured savings.
• Certificates of Deposit (CDs) Fixed-rate certificates of deposit with terms from 3 to 48 months and minimum deposits of $500. Includes Smartsaver Certificates with a bump-rate feature and Non-renewable Certificates with higher rates. IRA CDs available as a sub-offering. For personal savings customers seeking time-deposit products.
• Individual Retirement Accounts (IRAs) Traditional and Roth IRA options with $100 initial minimum deposit and $25 recurring deposit option. Competitive interest rates and retirement planning assistance from bank staff. For individuals saving for retirement.
• Home Mortgage Loans Fixed and adjustable rate mortgages up to $1,000,000 with terms up to 30 years and up to 90% loan-to-value. No application fee, no prepayment penalty, no PMI required. Includes construction-to-permanent loans. For individuals and families buying, building, or refinancing a primary residence in Fairfield, Franklin, Licking, or Pickaway County, Ohio.
• Home Equity Loans 15-year fixed-rate home equity loans ranging from $15,000 to $100,000. No application fee with estimated closing costs of $308. For existing homeowners accessing equity in their property.
• Home Equity Line of Credit (HELOC) Variable-rate line of credit with a 10-year draw period followed by 15-year repayment. Minimum $15,000 with $50 annual participation fee. Variable rate based on Prime Rate (4.00% minimum, 18% maximum). Includes free checks. For homeowners needing revolving access to home equity.
• Rental Property Loans Loans for 1-4 family residential rental properties up to 85% LTV with 25-year fixed-rate and 30-year adjustable-rate (1/1 and 5/1 ARM) options. For real estate investors in the four-county Ohio lending area.
• Commercial Real Estate Loans Large multi-family and commercial real estate loans with customized closing costs, interest rates, and repayment terms. No application fee; outside appraisal required. For commercial real estate investors and owners in the four-county Ohio lending area.
• Vacant Land Loans Loans on vacant land up to 65% of appraised value or purchase price (whichever is lower), maximum $100,000, with 10-year adjustable rate terms. For individuals purchasing land in the four-county Ohio lending area.
• Credit Cards (Visa/MasterCard) Hometown credit cards with Visa and MasterCard options featuring tiered cash back rewards (0.25%-1.0% based on annual spend), no annual fee, no interest if paid in full monthly, and competitive rates (Prime+4% Gold Card for existing customers; Prime+5% standard). For personal banking customers seeking local credit card services.
• Business Banking Comprehensive business banking including business checking (interest and non-interest bearing), savings, money market accounts, CDs, business credit/debit cards, merchant services, and cash management through the Celero Commerce partnership. For small and mid-sized business owners in Fairfield County and surrounding Ohio counties.
• Business Cash Management Cash management services delivered through the Celero Commerce partnership, including mobile POS, cloud POS sales, direct deposit/ACH, credit/debit card processing, custom gift cards, Payware Mobile, and overdraft sweep. For local business banking customers needing payment processing and treasury tools.
• eBanking (Online Banking) Multi-channel electronic banking platform providing online account monitoring, transfers, bill payment, eStatements, stop payments, QuickBooks/Quicken integration, and personal financial management tools. For personal and business banking customers seeking self-service banking.
• Mobile Banking App Full-featured mobile banking app for iOS and Android enabling account access, mobile check deposits, transfers, bill payment, Zelle payments, and Card Control management. Available via Apple App Store (id 1029090761) and Google Play (com.fairfieldfederal.imobile). For personal and business banking customers needing on-the-go banking.
• Property for Sale Bank-owned real estate available for purchase with realtor co-op welcome. Managed by Lisa A. Berry, Assistant Vice President. For real estate buyers and brokers seeking Ohio properties.

Quantifiable outcome

• No Private Mortgage Insurance (PMI) required, saving borrowers hundreds of dollars per month on loans over 80% LTV compared to most other lenders
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Ohio University Lancaster CampuscoreStrategic or Co-development Partner · 22 October 2009Community partnership with $50,000 contribution to fund construction of the north entrance and Earl C. Keaton Mezzanine student study space. Named in honor of Earl C. Keaton (former managing officer of the bank). Bank has supported Lancaster campus since at least 2009. Ron Keaton (Earl's son and managing officer of the bank) continues the relationship.
• FiservcoreTechnology or IntegrationTechnology partner powering core banking infrastructure, online banking, mobile banking app, and Card Control debit card management system. Fiserv provides the platform underlying all digital banking services.
• Early Warning Services / ZellecoreTechnology or IntegrationPartnership to offer Zelle peer-to-peer payment service integrated into online and mobile banking. Enables real-time money transfers between accounts using email or U.S. mobile numbers. Zelle network includes 2,300+ participating banks and credit unions as of March 2025.
• Celero CommercecoreTechnology or IntegrationCash management and payment processing services partner for business banking. Provides mobile POS, cloud POS, direct deposit/ACH, credit and debit card processing, custom gift cards, Payware Mobile, and overdraft sweep services for business customers.
• Visa / MasterCardcoreTechnology or IntegrationCredit card network partnerships offering Visa and MasterCard branded credit cards (standard and Gold Card for existing customers) with no annual fee and tiered cash back rewards. Cards are issued as 'Hometown Credit Cards' by Fairfield Federal.
• Lancaster Parks and RecreationminorGTM or Marketing PartnerSponsorship of summer Friday Night Bandstand entertainment in downtown Lancaster.
• Fairfield County Tennis TournamentminorGTM or Marketing PartnerSponsorship of annual Fairfield County Tennis Tournament as part of community engagement.
• Pickerington Parks and RecreationminorGTM or Marketing PartnerSupport for Family Friday Night Movies and music at the senior center.
• Lancaster High SchoolminorGTM or Marketing PartnerSupport for Lancaster High School girls' basketball program.
• StifelminorOthersFinancial services firm (Stifel) operates as a tenant on the 3rd floor of the Main Office building, alongside Lifetime Financial Planning and Rebich Investments.
• Lifetime Financial Planning (Penny Wasem, Owner)minorOthersFinancial planning business operating as a tenant on the 3rd floor of the Main Office building.
• Rebich Investments (Allison Rebich-Lockhart, Financial Advisor)minorOthersInvestment services business operating as a tenant on the 3rd floor of the Main Office building.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sutton Bank: Sutton Bank is a community bank based in Attica, Ohio, holding a similar mutual/thrift-style community profile with personal and small business banking, deposit products, and mortgage lending across north-central Ohio.
• LCNB Corp. LCNB Corp. operates LCNB National Bank, a community bank headquartered in Lebanon, Ohio, with branches across southwest and central Ohio — overlapping Fairfield Federal's broader Ohio community banking competitive set.
• Malvern Federal Bancorp: Malvern Federal Savings Bank is a federally chartered community savings bank operating in a similar small-scale thrift model — though geographically distant in Pennsylvania, it shares the same federally chartered savings institution business model and portfolio-based lending approach.
• Heartland BancCorp: Heartland Bank is an Ohio-based community bank serving the Columbus metro and surrounding counties including Fairfield, Licking, and Franklin — directly overlapping with Fairfield Federal's lending footprint in personal and business banking.
• CFBank, National Association: CFBank (formerly Central Federal) is a federally chartered savings bank headquartered in Ohio serving similar community banking and mortgage customers. It is a close direct peer given its comparable thrift charter, Ohio footprint, and consumer/commercial mortgage focus.

Regional players

• Civista Bank: Civista Bank is a community bank serving central and northern Ohio with comparable consumer and business banking services. It is a broader incumbent that competes with Fairfield Federal across overlapping Ohio markets.
• WesBanco, Inc. WesBanco is a multi-state community bank holding company with significant Ohio operations in Columbus, including consumer, mortgage, and commercial banking. It competes for the same central Ohio deposit and lending customers but at substantially greater scale.
• Park National Corporation: Park National Bank is a large Ohio-headquartered community banking group operating across multiple regions of Ohio. As a broader incumbent, it offers overlapping consumer and business banking services but at significantly greater scale and geographic spread.
• Peoples Bancorp Inc. Peoples Bank is an Ohio-based community bank with branches across central and eastern Ohio. It is a larger regional incumbent that competes for deposits, mortgages, and small business banking in the same central Ohio counties.
• First Financial Bancshares: First Financial Bank is a regional community bank with major operations in the Columbus metro area and across Ohio, offering a similar suite of consumer, mortgage, and business banking products as a much larger competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Fairfield.Federal.Savings.and.Loan
• Instagraminstagram.com/fairfieldfederal/?hl=en
• LinkedInlinkedin.com/company/fairfield-federal-savings-and-loan-association-of-lancaster

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Fairfield Federal