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The Ithaca Journal from Ithaca, New York • Page 6

Location:
Ithaca, New York
Issue Date:
Page:
6
Extracted Article Text (OCR)

6 ITHACA JOURNAL Monday, Ian. 26, 1976 milLA11Wii FIRST FEDERAL'S GROWTH IN ASSETS SINCE 1935 1050 1000 950 HW A tt Its4 ))02E 1 1 900 A Billion Dollars 850 Strong because 800 Service to customers 1 750 has always been 1 700 our first consideration. I 650 600 4 550 4 2 500 450 400 6 350 71 i 300 250 I i 200 r-1 1 150 i i 74-1-1---- ioo t-t :71 4 ,4 50 ti' 4. it 1 i 1 7 0 mita It rlt 1,....2 a it Ylo wo ObJ IDA 11 STEM 1965 1970 1975 1945 1950 1955 1960 1935 1940 0 31, 1975) STATEMENT OF CONDITION (AS OF DECEMBER First Federal Savings reached one billion dollars in assets on October 17, first savings and loan association in New York State to attain this significant milestone. (cents omitted) 849,191,842.

54,227,031. 12,614,228. 1,341,964. 78,739,265. 3,485,028.

4,031.858. 25,226,948. 7,374,669. $1,036,232,833. Sibley's department store in downtown Rochester, as well as full branches in Wellsville, Binghamton, Endicott and Glens Falls.

First Federal Savings now has 38 offices across the state. Assets First Mortgage Loans Other Loans Real Estate Owned Loans to Facilitate the Sale of Real Estate Investments and Securities: U.S. Government and Agency Obligations 2,882,266. Other Investments and Securities 75,856,999. Prepayment to Federal Savings Loan Insurance Corp Cash Corporate Properties and Equipment (Less Depreciation) Deferred Charges and Other Assets TOTAL ASSETS LIABILITIES Savings AccountsDeposits Advances from Federal Home Loan Bank of New York Other Borrowed Money Securities Sold Under Agreement to Repurchase Loans in Process Other Liabilities Specific Reserves General Reserves 32,440,392.

Surplus 10,089,409. TOTAL LIABILITIES 1975 A Milestone Year It was-not only a year of growth, but also a year of expansion. On January 1, Owego Federal Savings and Loan began operations as the Owego Savings Division of First Federal, following our December 31, 1974 merger consummation. During 1975 First Federal completed mergers with four additional savings and loan associations. They were Horseheads Savings and Loan, Ithaca Savings and Loan, Central Savings and Loan in Albany and Fair City Savings and Loan in Syracuse.

Through the finalization of these various mergers, First Federal is now providing financial services to people from the Hudson River on the east to Lake Erie on the west. During the year new offices were opened in the following locations: Chili-Paul Plaza in Chili, a satellite office in First Federal introduced LIFE SAVINGS which permits qualified individuals to invest up to $1,500 each year into a savings program for their retirement. These contributions are 100 tax deductible. Various options are available for payment of the funds after retirement. A BONUS PLAN was also offered to customers.

It pays up to 1 percent over the current passbook rate of interest on savings. Added safety and convenience were offered to recipients of Social Security payments with First Federal's SOCIAL SECURITY DIRECT DEPOSIT Service. 822,190,078. 51,757,273. 18,348,911.

70,147,854. 7,886,097. 21,927,752. 1,445,067. 42,529,801.

$1,036,232,833. tank 1 The year 1975 was truly a milestone year in the history of your Association. The one billion dollars in assets is much Ay, 1 more than a large figure. More impor- ig i' 0 tandy, it is an affirmation of the loyalty and satisfaction of our customers. It is also a testimonial to the skill and dedica- tion of all First Federal board members, officers and employees.

Our size and strength means a renewal of First Federal Savings' commitment to all the communities of New York State serviced by H.W.D., the Hard Working Dollar. Entering our nation's bicentennial year, First Federal looks forward to continuing growth, offering a profitable place to save and an advanta, geous place to borrow money for a home or for home improvements. OUTLOOK Our customers will enjoy true statewide convenience when all offices are linked to our central computer. Thereafter, a Buffalo savings customer traveling in Albany will easily be able to transact business on his account- even while away from home. Another exciting event is anticipated when First Federal Plaza opens in downtown Rochester in the fall of 1976.

Consolidation and updating of our headquarters facilities will mean even greater efficiency and improved service throughout the state. zr IL. :4 FIRST FEDERAL PLAZA now under construction on the west bank of the Genesee River in downtown Rochester. The 21st floor will be a unique revolving restaurant accessible by several elevators. includina a oy several elevators, including a glass-enclosed exterior elevator.

This new headquarters of First Federal Savings is scheduled to open in the fall of 1976. William E. Schen President If a THE HARD )fiNORKING DOLLAR MORTGAGE LOAN SERVICES Conventional Mortgages FHA Mortgages VA Mortgages Home Improvement Loans Home Equipment Loans College Education Loans Passbook Loans Mobile Home Loans CENTRAL REGION 407 South Warren Street, Syracuse Shop City Mall, Syracuse CAPITAL REGION 302 Central Avenue, Albany 132 State Street, Albany 13 Maple Road, Voorheesville Mark Plaza, Quaker Road, Glens Falls CONVENIENCE SERVICES Mortgage Insurance Moneywheel Check Saver Service Travelers Checks Checkettes (Money Oiders) Notary Public Service Bond Sales Redemptions Safe Deposit Boxes Gift Checks Utility Payments 24-Hour Depository Free Parking SAVINGS SERVICES Armchair Savings Accounts Moneymaker Passbook Certificate Accounts Regular Savings Accounts Day-to-Day Savings Accounts Christmas Club Accounts Save-by-Mail ULM Bonus Plan Money Phone Accounts Payroll Savings Fiduciary Accounts Life Savings Trustim (IRA) Keogh Plans Social Security Direct Deposit Moneymaker Income Plans Moneymaker Accumulation Plans Corporate Savings Accounts WESTERN REGION 360 Pearl Street, Buffalo 1550 Walden Avenue, Buffalo 4574 Main Street, Buffalo Clarence Mall, Williamsville 238 Elmwood Avenue, Buffalo (Opens January 76) SOUTHERN TIER REGION 300 North Tioga Street, Ithaca 120 North Street, Dryden 220'Reynolds Road, Johnson City Downtown, Endicott 18 Lake Street, Owego 247 Main Street, Binghamton 133 North Main Street, Horseheads 102 North Main Street. Wellsville OFFICE LOCATIONS ROCHESTER REGION 320 East Main Street. Rochester 10 East Main Street.

Rochester 1940 Monroe Avenue, Rochester 920 West Main Street. Rochester 525 Titus Avenue, Rochester 1950 Empire Boulevard. Webster 3687 Dewey Avenue. Rochester 64 Main Street, Brockport 3195 Monroe Avenue. Rochester 1986 Chili Avenue, Rochester 1100 Jefferson Road.

Rochester 980 Ridge Road East, Webster 165 East Main Street, Palmyra 1552 Ridge Road West. Rochester 2315 lyell Avenue. Rochester 750 West Miller Street, Newark 1060 Ridge Road East, Rochester 2155 Penfield Road, Penfield 3228 Chill Avenue, Rochester Sibley's. 228 East Main Street. Rochester Wegrnan's Country Club Plaza, East Rochester (Opens Spring 16) SOUTHERN TIER REGION ROCHESTER REGION Southern Tier Region Officers James M.

arona, Senior Vice President and Region Manager OWEGO SAVINGS HORSEHEADS SAVINGS DIVISION DIVISION WESTERN REGION John E. Roberts, Senior Vice President and Region Manager CAPITAL REGION Henry Goebel, Senior Vice President and Region Manager CENTRAL REGION Bernard J. Corbishley, Senior Vice President and Region Manager William C. Hulbert, Vice President George M. Pribulick, Assistant Vice President Patricia A.

Stedge, Assistant Treastrer Herbert K. taunt, Vice President Charles P. Schneider, Assistant Vice President Allen E. Fuller, Mortgage Officer Monte Hughey, Branch Manager Directors Earnest W. Maurer, Vice Chairman of the Board William E.

Scheu, President George A. Klier Samuel P. Connor, Jr. John A. Stahlbrodt Rudolph J.

Velepec Theron Robinson Leo W. Waldert Leon L. Christ John E. Heselden Marvin J. Hoffman, M.D.

James M. Cirona William B. Burks ITHACA SAVINGS DIVISION Edgar E. Bredbenner, Assistant Vice President William J. Kiernan, Mortgage Officer Kathryn A.

Ronsvalle, Assistant Secretary Richard L. Steere Appraiser George J. Little, Assistant Treasurer David P. Rose, Branch Manager Willard J. Van Jew, Branch Manager Corporate Officers Earnest W.

Maurer, Vice Chairman of the Board William E. Scheu, President Theodore E. Hiebler, Senior Vice President Frank B. Mehlenbacher, Senior Vice President Secretary John J. Connolly, Senior Vice President Treasurer John R.

Waugh, Vice President William G. Leckinger, Vice President K. Richard Wheeler, Vice President Fred W. Smith, Vice President George J. Krehling, Vice President Southern Tier Region Advisory Board James M.

Cirona, Chairman William C. Hulbert, Vice Chairman Charles C. Baker Charles R. Bauman Gordon L. Black Ralph B.

Bowers Harold L. Colby Haines W. Cole Harris B. Dates Howard I. Dillingham Joseph Fermi D.D.S.

A. James Hall Clarence H. Hathaway Martin Jager Bernard Kahn Herbert K. Launt Thomas P. Lynch Thomas G.

Miller Norman S. Moore James F. O'Connor Harold Pratt Maxwell S. Riegel Milton R. Shaw Kenneth L.

Shull Arthur B. Stiles Ogden A. Tappan rcr HOME OF THE HAM WORK DOLLAR 11011TE OF THE HAM WORK -(1 DOLLAR reSIVEDERAL SAVINGS T7 TT Main Office: 320 East Main Street, Rochester, hl.Y.14604. 011111 FS 102 NORTH MAIN STRUT WELLSVILLE 247 MAIN STRI ET BINGHAMTON 18 LAKE STREET 300 NORTH TIOGA STREET 120 NORTH STREET 133 NORTH MAIN STREET OWEGO ITHACA ENDICOTT DRYDEN HORSEHEADS 220 REYNOLDS ROAD JOHNSON CITY 1.

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Pages Available:
783,537
Years Available:
1914-2024