First Federal Savings and Loan Association of Lorain originations date back to 1921, when a financial institution called Lake Erie Savings and Loan Company was established. The mission of this newly formed company was to provide home ownership and a safe harbor for their customers life savings. In 1938, Lake Erie Savings and Loan Company applied for and was granted a federal charter. The financial institution then changed its name to reflect its new charter. The company has nearly 10 branches located along Ohio s north coast. It is a locally owned and managed company. The banks services include personal banking options, such as checking accounts, savings accounts, certificates of deposit and individual retirement accounts; investment services; and loans, which include consumer loans and mortgages. First Federal Savings and Loan Association of Lorain is headquartered in Lorain, Ohio. The Sandusky Office is closed on Saturdays.. BanksFinancingLoans