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Third Federal Foundation

Third Federal Foundation

Third Federal Savings and Loan and its foundation, along with various community, private, and civic partners, have worked to build an integrated continuum of support for education, youth development (in and out of school), and revitalization in the Slavic Village neighborhood of Cleveland, Ohio, and other communities in which it operates.

Third Federal Savings was founded in 1938 with a clear mission: to help families achieve the dream of homeownership and financial security. Although much has changed about the company and the community since then, its mission remains the same. In 1998, the company built a new corporate campus. The physical location, combined with the creation of hundreds of new jobs in this low-income neighborhood, has created a cascading effect on the community. Furthermore, the company’s role as a resident and major stakeholder in the neighborhood has allowed it to advance a number of innovative community initiatives. 

Funded and supported by the Third Federal Foundation, Broadway-P16 is a network of nonprofit, civic, and community-based organizations working in partnership with the Cleveland Metropolitan School District. These partner organizations create comprehensive, place-based collaborative investment with the goal of facilitating healthy, productive, and safe learning environments for the children and youth of the Slavic Village neighborhood.

A host of innovative programs have been developed to facilitate reading and STEM (science, technology, engineering, and math) skills, increased school attendance and graduation rates, and college readiness. Specifically, the partnership focuses on:

  • School-to-community connections
  • Establishing and sustaining a community culture of learning
  • Business partnerships
  • Health advocacy
  • Advancing basic resident needs
  • Entrepreneurship
Click here to view more information about P-16

Third Federal is proud to be recognized for its investment in and support of the communities it serves.

  • Corporate Partner-of-the-Year, Vibrant City Awards (2015). In recognition of a corporation, company, or private sector champion that has displayed dedication and provided financial support to make a community vision become reality.

  • Community Reinvestment Award, Honorable Mention, Excellence in Cross-Sector Collaboration (2014). Given jointly by the Federal Reserve Bank of San Francisco, the FDIC, and the OCC in recognition for its leadership in the Broadway P-16 initiative and Trailside Slavic Village initiatives.
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  • Commitment to Action, Clinton Global Initiative (2015). In recognition for taking action to increase the financial security of the growing senior population in Cuyahoga County.

  • Corporate Citizenship Award for City of Cleveland. Awarded for leadership in P-16 from the Ohio Arts Council.

  • 10th Anniversary Celebration (2017). To celebrate the anniversary milestone, Third Federal Foundation pledged to donate $500,000 to United Way of Greater Cleveland in support of the organization’s annual campaign and their work to improve the lives of those living in Slavic Village.

  • Hometown Hero Community Leader Award, FBI Cleveland Citizens Academy (2018). Given to Kurt Karakul, Executive Director of the Third Federal Foundation, in recognition of the advocacy and commitment to education that Kurt and the Foundation have exhibited through the Broadway P-16 program in the Slavic Village community

  • WVIZ, Ideas Sunday (2019). Foundation featured as a partner working to help bring Say Yes to Education to Cleveland with an emphasis on the success the P-16 program has had in strengthening wrap around services for education in Slavic Village.

    Click here to view the "Say Yes To Education" feature on WVIZ