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THIRD FEDERAL INCREASES COMMITMENT TO CLEVELAND NEIGHBORHOODS TO $20 MILLION IN CLEVELAND BUY PROGRAM

 THIRD FEDERAL INCREASES COMMITMENT TO CLEVELAND NEIGHBORHOODS TO
 $20 MILLION IN CLEVELAND BUY PROGRAM
 CLEVELAND, March 23 /PRNewswire/ -- Third Federal Savings and Loan Association announced today that it will commit an additional $10 million to its Cleveland Buy Program. Nearly $10.2 million in reduced cost first mortgage loans has already been provided in the city of Cleveland by Third Federal under this special program. To date, the purchase of 378 single and two family homes in the city have been financed through the effort.
 "We are proud to add another $10 million to our commitment to support Cleveland's neighborhoods," said Third Federal Chairman and Chief Executive Officer Marc A. Stefanski, "owner occupied homes are an anchor in any community, and the Cleveland Buy Program is specifically designed to address that need in the city."
 Third Federal's Cleveland Buy Program encourages the purchase of low and moderately priced homes in the city of Cleveland. The program provides for discount rate conventional mortgages and reduced closing costs for the purchase of homes in the city of Cleveland with a sales price of $50,000 or less. There is no minimum loan amount. Single and two family houses are covered by the program, however the purchaser must occupy the home.
 More information on the Cleveland Buy Program is available by calling Third Federal Savings main office, 216-441-6000. Third Federal Savings and Loan Association is an equal housing lender.
 Third Federal Savings was founded in 1938 and is headquartered at 7007 Broadway Ave. on Cleveland's south side. The association maintains seven offices in the city of Cleveland and a total of 21 offices throughout Northeastern Ohio. Third Federal is the largest conventional residential first mortgage lender in Ohio and is recognized nationally for its financial strength, stability and safety.
 -0- 3/23/92
 /CONTACT: Third Federal Savings, 216-441-6000/ CO: Third Federal Savings and Loan Association ST: Ohio IN: FIN SU:


LC -- CL004 -- 0424 03/23/92 09:20 EST
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Publication:PR Newswire
Date:Mar 23, 1992
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