We've come a long way....
First Federal Savings was one of the first banks in Middletown. We opened our doors in 1888– Grover Cleveland was President and Middletown was filled with farms and Railroads. For generations, we had just a handful of employees at any given time. They knew their customers by name, and recorded every single transaction by hand.
Today, that feeling of being the bank around the corner is still there when you walk in our doors. Only now, the bank around the corner has the ability to serve you anywhere in the world, with the same sophistication, services and products you’ll find at the “big” banks. And because we’re mutually owned, our focus is a little different than the big banks. When we please our customers, we’re pleasing our owners. That’s why so many people in Middletown and its surrounding towns choose First Federal for their personal and business banking needs.
founded in 1888
First Federal Savings of Middletown was founded in 1888 , making our bank one of the oldest “Hometown Banks” in Orange County. We proudly celebrated our 125th Anniversary in 2013-14 and look forward to serving local banking needs during the next 125 years!
First Federal remains “Mutually Owned” as our company has no stockholders. We are here, as we always have been to serve our customers with no conflicting profitability pressures.
A “Mutual” is similar to a Credit Union with the notable exception that we pay both Federal and NYS Income taxes.
We manage over $150,000,000 in assets with a modest loan portfolio funded totally with local deposits. We are well capitalized by all regulatory standards and boast a net worth position (a reliable measure of a bank’s safety and soundness) in the top 1% of banks in the entire United States!
Our mission “To Provide Quality Financial Services while Enhancing the Community We Serve” is a promise we have lived up to for over 125 years. We remain deeply committed to serving the City of Middletown and its surrounding communities. We are dedicated to being a part of Middletown’s future prosperity.
The Association’s Board, Management and Staff are proud of our history and look forward to building future customer relationships. Please contact us at 845-343-1401 and we would be happy to tell you more.
