The spirit of giving back — both money and time
Every year, First Federal Savings and its Charitable Foundation infuse as much as 25% of the bank’s bottom line back into the community, focusing on youth, community health, and other important topics like veteran welfare.
But First Federal Savings understands that community service is more than just writing a check. Not just because being one of the smallest financial institutions in Maine has its limitations in terms of dollars available for donations, but because it takes time and energy to do all the things that help our communities thrive. That’s why the company and its employees also give their time and have a strong belief that their availability is fundamental. It may start with offering an extra minute to someone who needs a little extra help with a mortgage, but it goes much further. Employees serve the community through organizations like the Rotary Club and Main Street Bath, volunteering for community projects to keep their towns and communities strong.
Every year on Patriots Day, First Federal Savings closes to the public and picks a local nonprofit to team with for a day of service. In 2024 employees worked with Phippsburg Land Trust, spending the day clearing trails at Cooley Center Pond, Ridgewell, Spirit Pond, Elbow Hill, Gamble, and Sprague Preserves. This year, First Federal Savings employees will be with the Boothbay Region Land Trust enjoying another beautiful Maine day doing whatever they can to be helpful in preserving the scenic splendor of the Boothbay Region—keeping the community beautiful for generations to enjoy.
Guiding the community toward success
It may beg the question as to why the bank reinvests in its communities and how that relates to being successful. First Federal Savings’ definition of success goes far beyond profits. The bank’s Board and employees understand that without a strong community around them, there’s no need for a bank. That’s why employees love working at the bank, because success means happy customers - seeing someone at the tail end of a mortgage closing that now can say they’re a homeowner, or watching a young couple that are now new parents leaving after a meeting, feeling like they have a plan for their families future. It also means understanding what else is important to these people, what’s happening in Midcoast Maine that’s affecting those people, being certain that the bank is there to support those initiatives. The company does everything in its power to ensure that its customers and the community succeed through prudent and effective investment, preparing everyone for what they will need in the future.
If you’re wondering what it means to have the most available banker’s in Midcoast Maine and want to learn more about what this bank does - Here's a quick guide of ways in which First Federal Savings can help customers improve their financial futures:
Investing in Maine Futures: The Heart of First Federal Savings
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What is it that drives your decision about where you keep your savings?
It’s not uncommon for people to overlook the benefits beyond just interest rates. Nick Giles, a high school student and small business owner in Boothbay Harbor, chooses First Federal Savings not just for financial reasons but for the personal connection. According to Nick, First Federal knows him, his family, and what he needs. The staff's familiarity is so profound that they remember his account number even when he doesn't. Growing up, Nick fondly recalls visiting the bank with his parents and grandparents, reinforcing the deep-rooted trust and connection he feels with the institution. For him, feeling that a bank "has your back" is invaluable, making First Federal Savings his preferred choice.
At First Federal Savings, a healthy customer relationship is just as important as a healthy balance sheet. They pride themselves on building trust with customers to ensure top-of-the-line service. Employees know customers by name, understand their personal and professional goals, and make themselves available to help guide and support them, all to make sure they are completely satisfied. First Federal Savings is always available when a customer needs to talk, looking out for the best interests of their customers and communities.
Visit www.firstfederalbath.com to learn more about First Federal Savings’ community service and financial products and services, or visit your local branch today.
What is it that drives your decision about where you keep your savings?
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Financial advice can help you safeguard and grow your wealth and First Federal Wealth Management has employees that can help you figure out where to start. Our advisors review your financial situation, assess your individual goals, and help lay out a plan that could bring you closer to your financial dreams and goals. First Federal Wealth Management not only offers insight but also access to an expansive array of investment and insurance solutions that can be customized to fit your unique needs.*
Wealth Management
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Customers looking to purchase a home or land, or refinance an existing mortgage to put the equity in that property to use. Because First Federal Savings is the only Midcoast bank that maintains ownership and servicing of all their mortgages in-house, they can consider mortgages that other banks can’t. Their lenders are known for their experience and availability, always happy to answer questions and provide guidance to homeowners of all experience levels.
Mortgage Loans
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Time deposits that pay at a fixed rate for a specified period, usually providing higher returns than a savings account but with the protection of FDIC insurance. First Federal Savings offers CDs because the interest they pay is more likely to remain local. It either stays in the account and helps the customer build their savings, or is spent at local small businesses and helps the local economy thrive. First Federal’s most popular product right now is a one-year CD offered at 3.5%, with .25 loyalty points, the customer’s rate will be locked in at 3.75% for 12 months, yielding an annual percentage of 3.82%.
Certificate of Deposit, or CD
Across Midcoast Maine, First Federal Savings and Loan Association of Bath stands as more than just a bank—it's a community pillar. This federally chartered thrift institution is an active member of the communities it serves, spanning Bath, Boothbay Harbor, Damariscotta, Wiscasset, the neighboring towns, peninsulas and even islands. They are owned, run, and staffed by Midcoast Maine people who share a common understanding of the region, as well as goals and aspirations for each other and for the communities at large. First Federal Savings doesn’t just help families and individuals invest in their own futures—they also invest in the communities.
Whether offering sound financial guidance or reinvesting in local nonprofits, First Federal Savings believes in the power of community, seeing first hand the power of partnership and collaboration across the coastal region. For nearly 90 years, the company and its employees have been available and routinely served the people who live and work in those communities, giving back—both time and money—to local nonprofit and civic organizations. They reinvest in their communities not only because the company has a vested interest in seeing the individuals and businesses around them succeed, but also because First Federal Savings’ customers are their neighbors, friends, family members, and loved ones.
*Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investment services are offered. Investments are: Not FDIC Insured, May Lose Value, Not Bank Guaranteed, Not a Bank Deposit, Not Insured by Any Federal Government Agency.”
Laurie Simmons, AVP, Branch Manager, working in Boothbay Harbor in the early 90s. First Federal Saving's employees bring over 30 years of knowledge of the local community.
Nick Giles and Laurie Simmons, AVP, Branch Manager, at the Boothbay Harbor Office in 2025.
What is it that drives your decision about where you keep your savings?
It’s not uncommon for people to overlook the benefits beyond just interest rates. Nick Giles, a high school student and small business owner in Boothbay Harbor, chooses First Federal Savings not just for financial reasons but for the personal connection. According to Nick, First Federal knows him, his family, and what he needs. The staff's familiarity is so profound that they remember his account number even when he doesn't. Growing up, Nick fondly recalls visiting the bank with his parents and grandparents, reinforcing the deep-rooted trust and connection he feels with the institution. For him, feeling that a bank "has your back" is invaluable, making First Federal Savings his preferred choice.
At First Federal Savings, a healthy customer relationship is just as important as a healthy balance sheet. They pride themselves on building trust with customers to ensure top-of-the-line service. Employees know customers by name, understand their personal and professional goals, and make themselves available to help guide and support them, all to make sure they are completely satisfied. First Federal Savings is always available when a customer needs to talk, looking out for the best interests of their customers and communities.
Visit www.firstfederalbath.com to learn more about First Federal Savings’ community service and financial products and services, or visit your local branch today.
Equal Housing Lender | Member FDIC | NMLS# 412684