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HistoryVintage

Cumberland Federal Bank was originally chartered in 1934 as Cumberland Federal Savings and Loan Association. The simple and honorable purpose of the  savings and loan was to pay fair returns on savings investments and to provide funds for home loans.

Throughout its history, the heritage of Cumberland Federal Bank has been characterized by our exceptional desire to help the community and its residents. This stated desire is reflected in the bank’s motto, “Friends Serving Friends,” which is supported by its pledge to “provide continually improved financial services accompanied by strong support for our hometown.” This support is evidenced by significant community volunteerism by the Bank’s board and staff and by a business plan that, for many years, has sought to donate 5% of net income to local charitable concerns.

It is important to note that during this federally chartered, mutual bank’s 80-year history, its Board of Directors continually has been composed of highly respected community leaders.

An interest in the welfare of this community led the bank to its unselfish assumption of a critically important responsibility, the establishment of Cumberland Federal Foundation. In 2006, Cumberland Federal Bank announced the establishment of Cumberland Federal Foundation with a $500,000.00 endowment that would give birth to “a lasting legacy of charitable contributions.” The mission of Cumberland Federal Foundation is to originate and/or support projects of major and lasting benefit to the Cumberland community.

 

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