Third Federal Named 18th Best Workplace in Fortune Survey

Strong Corporate Culture Leads To Job Satisfaction, Long Careers For Many At Third Federal

Marc A. Stefanski Chairman and CEO Third Federal Savings and Loan (Photo: Business Wire)

CLEVELAND--()--Third Federal Savings and Loan was named the 18th best workplace for Baby Boomers among more than 600 organizations nationwide, according to a survey conducted by Fortune and Great Place to Work®.

While the average tenure for a Third Federal associate is 12 years, the average tenure for an associate age 52 or older (Baby Boomer) is 17 years. With just a 4% annual turnover, associates overall view their role at the company as more than just a job.

“For 77 years, Third Federal has focused on building and maintaining a company culture and workplace that our associates can thrive in and be proud of,” said Marc A. Stefanski, chairman and CEO. “We’re honored to be recognized as one of the top 20 companies for Baby Boomers, and proud that many of our associates view Third Federal as a company they can grow with throughout their career.”

Rankings for the 20 Best Workplaces for Baby Boomers are based entirely upon employees' own feedback and selected from a database of more than 600 Great Place to Work-Certified organizations.

To determine the list, Fortune asked Great Place to Work® to survey nearly 34,000 Baby Boomers (born between 1946 and 1964), who rated their organizations on 58 workplace quality questions. Employees considered managers' competence and business ethics, people's advancement opportunities, impact of their organizations on the community and the pride their colleagues take in their work among many other factors.

Baby Boomers' anonymous responses resulted in a total score for each company, which was compared to the benchmark for organizations of that size. Companies needed to employ at least 50 Baby Boomers and achieve a 95% confidence level and margin of error of 5% or less in order to be eligible.

About Third Federal

Third Federal Savings and Loan Association (Nasdaq: TFSL), 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 75th anniversary in May, 2013.

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 March 31, 2016, the Company’s assets totaled $12.5 billion. For more, visit us on

About Great Place to Work®

Great Place to Work® is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services and certification programs, including Best Workplaces lists and workplace reviews, Great Place to Work® provides the benchmarks, framework and expertise needed to create, sustain and recognize outstanding workplace cultures. In the United States, Great Place to Work® produces the annual Fortune "100 Best Companies to Work For®" list and a series of Great Place to Work® Best Workplaces lists, including lists for millennials, women, diversity, small and medium companies and over a half dozen different industries. To find out more, go to


Third Federal Savings and Loan
David Reavis, 216-429-5036

Release Summary

Press release announcing Third Federal's rank by Fortune as a top 20 workplace for Baby Boomers.


Third Federal Savings and Loan
David Reavis, 216-429-5036