Third Federal Foundation Commits $500,000 to ESOP

ESOP is thrilled to announce a $500,000 commitment from the Third Federal Foundation. "The Foundation, the charitable arm of Cleveland'sThird Federal Savings & Loan, has donated $100,000 to the agency so far and will match up to $400,000 in additional grants from other donors over the next five years." See Crain's Cleveland.

Press Release from Third Federal Foundation:

Contact:          Dave Reavis

                        (216) 429-5036



Encourages Additional Giving By Matching $400,000 in Challenge Grants

Cleveland – September 28, 2016The Third Federal Foundation has donated $100,000 to the housing and financial counseling agency Empowering and Strengthening Ohio’s People (ESOP). Additionally, the Foundation will match up to $400,000 in additional grants from other donors, for a total commitment of $500,000 over the next five years.


Supporting ESOP aligns with Third Federal’s commitment to homeowners and their success.

ESOP was founded in 1993 by the late Inez Tillman Killingsworth to create organized leadership focused on local safety and education issues. It subsequently expanded its mission to address unprecedented issues of foreclosure and predatory lending.

“Given the shared vision of both organizations, Third Federal has been proud to partner with Inez Killingsworth and ESOP over the years,” said Marc A. Stefanski, Third Federal chairman and CEO. “This grant by our foundation further demonstrates our commitment to ESOP and to the communities we share. Our hope is that this gift is also a challenge to other companies and organizations to provide financial support to this worthy organization.”  

ESOP's vision is to help stabilize Northeast Ohio neighborhoods by making homeownership affordable, sustainable and available to more members of the community. It also encourages economic opportunity and behavioral change in the low-income senior populations to enable them to age in place with greater economic stability.

About the Third Federal Foundation

The Third Federal Foundation (The Foundation) was established by Third Federal Savings & Loan in 2007 to help the communities Third Federal serves. The Foundation has donated more than $7.5 million over the last several years to fund programs and community organizations that support education, housing and more. Third Federal Savings and Loan Association 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, Third Federal’s mission is to help people achieve the dream of home ownership and financial security. It became part of a public company in 2007 and celebrated its 77th anniversary in May, 2015. Third Federal, which lends in 21 states and the District of Columbia, is dedicated to serving consumers with competitive rates and outstanding service. Third Federal, an equal housing lender, 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 June 30, 2016, the Company’s assets totaled $12.6 billion.

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