First Federal

Quality service and a deep commitment to our community since 1963

First Federal is committed to being a superior community financial institution, offering real estate financing and deposit services at fair and competitive rates, while adhering to the highest standards of business ethics, safety, and excellence in service.

About us

01.

Our Vision

Our Story

02.

Health & Stability

04.

Our Leadership

03.

It’s the communities we’re a part of that make us who we are

Our Redwood Program

First Federal has teamed with the Redwood Forest Foundation to help preserve Northern California’s Redwoods. Each time a customer enrolls in e-statements we will pay for a redwood to be planted in Northern California.

Our Locations

Our Promise

Our Mission

We here at First Federal appreciate your business and thank you for choosing us as your financial partner. Our goal is to always provide the highest level of personal and professional service to you. If at any time you have questions, wish for additional information, or have concerns regarding our service, please click here to contact any branch office.

We believe that customers are best served when decisions are made at the local level by people who understand the area’s unique needs and values. Quality service and a deep commitment to our community have been guiding principles since we were established in 1963. With the highest level of safety, stability, and service in mind, we have a deep appreciation of the trust that our customers put in us. We do banking on a first name basis with a knowledgeable and friendly staff who understands our customers’ financial needs. From this perspective, responsible decision making on the local level, while carefully evaluating the risks, is what defines our standard business practice.

Message from the President

Our Story

Founder, CEO & Chairman 1963-1999

The story of First Federal exemplifies our commitment to improving Bay Area communities. It began when our founder, Harold Elberg, recognized part of the Bay’s heritage would be lost as the older Victorian homes began to crumble and disappear. In June of 1963, Harold decided to establish a Savings and Loan Association to help fund the restoration of these beautiful homes. His vision from the beginning was to become a unique niche lender, serving the needs of the local community. First Federal is currently a lender specializing in multi-residential and commercial real estate loans. Still a traditional savings and loan, First Federal offers outstanding service and competitive rates for individuals choosing to invest in savings accounts, checking accounts, and certificates of deposit. First Federal adheres to conservative loan underwriting standards and does not engage in subprime lending. As a result, the Association’s loan portfolio is of the highest quality. Though faces have changed, the philosophies embedded by our founder remain in place. His successor, Marilyn Shaw, shared Mr. Elberg’s vision and ran the institution in much the same way. Our current CEO, Paul W. Simmons, continues with the same philosophies of serving our customers and community for the long term. In 1987, the First Federal headquarters was moved to its current location, 1030 Third Street in San Rafael. Today, there are five convenient Bay Area branch locations to serve you. We may be small, but we still have an unwavering dedication to make a difference in our community.

CEO & Chairman 1999-2012

Harold Elberg

Marilyn Shaw

Our officers each maintain an open door policy. The door is open to staff and customers alike. We welcome you to come visit our brand of community banking. Enjoy some coffee while you accomplish your banking business. We are proud of the service we provide and look forward to building a relationship with you.

Our Directors

Our Directors possess valuable knowledge in business, commerce, and real estate. Their diverse backgrounds offer invaluable assistance in determining our direction. Each director is a professional in their own right. Having grown up in Marin or the Bay Area, they have a unique understanding of the needs, concerns, and challenges we face as a local community Savings and Loan Association.

From left to right: Paul W. Simmons, Board Chair; Dan Mayer, Real Estate Professional; Paul Soter, Attorney Theresa Cassidy, CPA; Ronald R. Leach, Retail Flooring Ted Murray, DDS; Keith Marsh, Real Estate Appraiser

Management Team

Paul W. Simmons, President and CEO Jim Carriere, Senior Vice President – Operations Rod Wiessner, Senior Vice President, CFO Devon Esparza, Vice President – Controller/Treasurer Anthony Moreno, Vice President – Chief Lending Officer Ty Vuong, Vice President – Chief Information Officer Nicole Saarloos, Vice President – Retail Banking Gayla Scurlock, Vice President – Compliance Officer/CRA Officer Wendy Simeone, Assistant Vice President – Credit Administrator

BauerFinancial has been analyzing and reporting on the nation’s banks since 1983 providing ratings you can trust. Earning a 5-Star rating from Bauer indicates that First Federal is one of the strongest banks in the nation. We’ve been around since 1963 and have seen the ups and downs in the industry but, one thing is constant, as a community bank, our strength and stability have always allowed us to excel even in the toughest times. BauerFinancial, Inc., Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution can pay for or opt out of a BauerFinancial rating. Consumers may obtain free star-ratings by visiting bauerfinancial.com

Excellent Health Rating from DepositAccounts

First Federal has been recognized with an excellent Health Rating at DepositAccounts.com, and is very pleased to be ranked among the healthiest U.S. banks of almost 6,000 banks nationwide. To have earned such a positive rating from an independent source validates our commitment to strong financial performance and stability. Each year DepositAccounts.com evaluates the financial health of every federally insured bank in the United States, and each institution is graded on a variety of factors in order to determine a comprehensive health score. First Federal continues to be recognized for exceptional fiduciary responsibility, receiving an ‘A+’ grade for 2020. For DepositAccounts full overview of First Federal click here

First Federal Earns 5-Star Bauer Rating

First Federal is the sole remaining mutual institution headquartered in California. A mutual association is very different from stock ownership banks in that we are mutually owned for the benefit of our community, depositors, and borrowers. Being mutually owned means we are controlled locally, so our management team and directors make business decisions that reflect the needs of our communities and help them prosper.

First Federal - Proud Sponsor of Italian Street Painting Marin

Italian Street Painting Marin is a program of EveryLife Foundation for Rare Diseases, a 501c3 nonprofit.

Scrap metal bison Artist: Juilo Jiminez (picture source: Italian Street Painting Marin)

We’re proud of the difference our employees have made to our community. We encourage and support their volunteer efforts, and recognize their contributions. Jim Carriere has been in banking since 1985, joined First Federal in 2002, and is Senior Vice President of First Federal. Volunteering for an international disaster relief charity, ShelterBox USA, he recently exceeded $400,000 in funds raised, earning him recognition as the organization’s top all-time fundraiser. ShelterBox delivers emergency shelter and life-saving supplies to people affected by natural disasters or conflict around the world. A member of the Rotary Club of San Rafael Harbor, he first learned of the organization through its connection to Rotary. ShelterBox is the official Project Partner of Rotary International in disaster relief. Rotarians are often the first point of contact for the ShelterBox Response Team when they arrive in a country that has been devastated by a disaster. Others, like Carriere, help in fundraising and volunteer projects.

First Federal has collaborated with Operation Hope’s Banking on Our Future Program. Banking on Our Future focuses on keeping at risk youth from repeating the cycles of poverty and despair that has trapped so many in their families and communities by teaching them basic financial literacy. Banking on Our Future elevates the dignity, hope, and economic self-sufficiency of people in low-wealth and underserved communities through financial literacy. Banking on Our Future students are given the tools they need to take control of their financial futures by learning about empowerment, responsibility, and hope. Banking on Our Future is the recipient of the U.S. Treasury Department’s John Sherman Award for Financial Literacy Excellence and Oprah’s Angel Network’s Use Your Life Award.

Portola Branch

2521 San Bruno Ave San Francisco, CA 94134

(415) 468-0700