Who Owns Maspeth Federal Savings Bank: If you are looking for a bank that cares about you and your community, you might want to consider Maspeth Federal Savings Bank. Maspeth Federal Savings Bank is a local bank that has been serving the Maspeth, NY, area since 1947. The bank is owned by Maspeth Bancorp Inc., which is publicly traded under the ticker symbol “MPSB” on the OTCQX market.
The bank offers a variety of financial services, such as checking and savings accounts, mortgages, loans, online and mobile banking, and more. The bank also supports the community with various events, sponsorships, and donations. In this article, we will explore who owns Maspeth Federal Savings Bank, what makes it different from other banks, and how it can help you achieve your financial goals.
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Who Owns Maspeth Federal Savings Bank
Maspeth Federal Savings Bank is owned by Maspeth Bancorp Inc., a holding company that was formed in 1998. Maspeth Bancorp Inc. is a publicly traded company that has over 5,000 shareholders. The company’s stock is listed on the OTCQX market, which is a platform for companies that meet high financial standards and provide timely disclosure to investors. The company’s board of directors consists of 11 members elected by the shareholders.
The board oversees the management and strategic direction of the company and the bank. The current chairman of the board is Franklin Frontera, the son of the founder of the bank, Alexander E. Frontera. The current president and CEO of the company and the bank is Thomas Rudzewick, who succeeded his father, Kenneth Rudzewick, in 2023.
What Makes Maspeth Federal Savings Bank Different
1st
Maspeth Federal Savings Bank is different from other banks in several ways. First of all, the bank is a mutual savings bank, which means that it is owned by its depositors, not by outside investors. This gives the bank more flexibility and independence to serve the needs of its customers and the community. The bank does not have to pay dividends to shareholders or meet the expectations of Wall Street analysts. Instead, the bank can focus on providing competitive rates, low fees, personalized service, and innovative products.
2nd
Secondly, the bank is a community bank, which means that it operates in a limited geographic area and knows its customers and their needs. The bank has six full-service branches and a loan center in Queens and Long Island, NY. The bank’s employees live and work in the same neighborhoods as their customers and are involved in local organizations and causes. The bank also supports the community with various events, such as free concerts, movie nights, carnivals, parades, and educational workshops. The bank also contributes millions of dollars to local groups and charitable institutions, such as schools, churches, hospitals, and veterans.
3rd
Thirdly, the bank is a family bank, which means that it treats its customers and employees like family. The bank has a long history of being founded and led by family members, who share the same vision and values. The bank has a loyal and dedicated staff, many of whom have been working for the bank for decades. The bank also has a loyal and satisfied customer base, many of whom have been banking with the bank for generations. The bank prides itself on being friendly, courteous, respectful, and helpful to its customers and employees.
Services and Products
Maspeth Federal Savings Bank stands out for its diverse range of services, catering to both individuals and businesses:
Personal Banking Services
- Tailored savings and checking accounts to meet individual needs.
- Competitive personal loans and mortgage services.
Business Banking Solutions
- Business accounts and commercial loan options.
- Specialized services designed for small and medium-sized enterprises.
Community Involvement
Beyond financial services, Maspeth Federal Savings Bank is deeply committed to the community:
Local Initiatives and Programs
- Sponsorship of local events and charities.
- Financial literacy programs benefit residents.
Impact on Local Economy
- Support for small businesses through loans and advisory services.
- Contribution to local employment and economic stability.
Technological Advancements
Embracing innovation to enhance customer experience in the digital age:
Digital Banking Services
- Online and mobile banking platforms for convenient access.
- Advanced security features ensure safe online transactions.
Future Technological Developments
- Plans for integrating more advanced tech solutions.
- A focus on maintaining a balance between technology and a personal touch.
Financial Performance
Understanding the bank’s financial health is crucial:
Recent Financial Reports
- Analysis of financial statements and performance indicators.
- Comparison with regional and national banking trends.
Strategic Financial Planning
- Future financial goals and strategies.
- Adaptation to changing economic environments.
Regulatory Compliance and Governance
Adherence to regulations and ethical governance:
Compliance with Banking Regulations
- Measures taken to comply with federal and state banking laws.
- Transparency in operations and reporting.
Governance Structure
- Overview of governance policies.
- The role of the board and management in ensuring ethical practices.
How Maspeth Federal Savings Bank Can Help You Achieve Your Financial Goals
Maspeth Federal Savings Bank can help you achieve your financial goals by offering a wide range of financial services and products. Whether you need a checking or savings account, a mortgage or loan, or online or mobile banking, the bank has something for you. Here are some of the benefits of banking with Maspeth Federal Savings Bank:
- Checking and Savings Accounts: The bank offers various checking and savings accounts to suit your needs and preferences. You can choose from free checking, interest checking, money market, savings, certificates of deposit, individual retirement accounts, and more. The bank also offers overdraft protection, direct deposit, debit cards, and ATM access. The bank’s checking and savings accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor.
- Mortgages and Loans: The bank offers various mortgages and loans to help you buy, refinance, or improve your home or property. You can choose from fixed-rate, adjustable-rate, jumbo, FHA, VA, and construction loans. The bank also offers home equity loans and lines of credit, personal loans, auto loans, and commercial loans. The bank’s loan center has a team of experienced and knowledgeable loan officers who can guide you through the application and approval process. The bank also offers online mortgage applications, pre-qualifications, and calculators.
- Online and Mobile Banking: The bank offers online and mobile banking to help you manage your finances anytime, anywhere. You can access your accounts, view your balances and transactions, transfer funds, pay bills, deposit checks, and more. You can also use digital payments, such as Zelle, Apple Pay, Google Pay, and Samsung Pay, to send and receive money, make purchases, and more. The bank’s online and mobile banking are secure, convenient, and easy to use.
FAQs: Who Owns Maspeth Federal Savings Bank
Here are some frequently asked questions about Who Owns Maspeth Federal Savings Bank:
Q: How can I open an account with Maspeth Federal Savings Bank?
A: You can open an account with Maspeth Federal Savings Bank by visiting one of their branches, calling them at 718-335-1300, or applying online at their website.
Q: How can I contact Maspeth Federal Savings Bank?
A: You can contact Maspeth Federal Savings Bank by visiting one of their branches, calling them at 718-335-1300, emailing them at info@maspethfederal.com, or filling out a contact form on their website.
Q: What are the hours of operation of Maspeth Federal Savings Bank?
A: The hours of operation of Maspeth Federal Savings Bank vary by branch and service. You can find the hours of operation of each branch and service on their website.
Q: What are the routing number and SWIFT code of Maspeth Federal Savings Bank?
A: The routing number of Maspeth Federal Savings Bank is 226070584. The SWIFT code of Maspeth Federal Savings Bank is MASUUS31.
Who Owns Maspeth Federal Savings Bank: Conclusion
Who Owns Maspeth Federal Savings Bank? Maspeth Federal Savings Bank is a community bank that is owned by Maspeth Bancorp Inc., a publicly traded company. The bank has a long history of serving the Maspeth, NY, area with various financial services and products. The bank also supports the community with various events and donations. The bank is different from other banks in that it is a mutual savings bank, a community bank, and a family bank.
The bank can help you achieve your financial goals by offering competitive rates, low fees, personalized service, and innovative products. If you are looking for a bank that cares about you and your community, you might want to consider Maspeth Federal Savings Bank. To learn more about the bank, visit their website, call them at 718-335-1300, or visit one of their branches. Thank you for reading this article and have a great day.