Why you should be banking with First Federal Bank

a local, community bank providing exceptional service in North Carolina

In today’s world, we’re constantly being bombarded with reports of new technologies, new companies, and even new industries which are radically changing the way we’re used to operating. This is definitely true in banking, where the introduction of online banking, mobile banking, and cryptocurrency have caused a profound shift in the way people are keeping their assets. There is certainly an allure to all of the conveniences and perks the mega-banks promise their customers, even if most of these promises are too good to be true. This has contributed to an already existing trend of consolidation, with larger banks accumulating more accounts and assets while absorbing smaller, local banks.



While new banking technologies are fantastic for alternative lending and banking, small local banks have been doing the work of developing their communities for decades. Housing and small business loans are still the most consistent way low- and moderate-income people build not just wealth, but generational wealth. That’s why it’s more important than ever to not dismiss the impact traditional lending institutions truly have on our neighborhoods and towns.


First Federal Bank in Dunn, NC, is a great of example of a long-standing local bank which may not be flashy or exciting, but which consistently provides excellent services and loans to their customers. They started originally as a mortgage company in 1958, in the long tradition of Savings and Loan associations which made home-ownership possible for so many Americans in the 20th century. Even today, they still devote a huge portion of their assets to housing loans, with it making up nearly 60% of all the loans they make. Additionally, 60% of their housing loans are made in low- and moderate-income census tracts.


First Federal became a full-service community bank in 2003, and now owns additional branches in Angier, Erwin, Benson, Fuquay-Varina, and Clayton. Although they’ve expanded their reach significantly in the region, they still retain their local, community bank values, evident in both their lending and mission statement. They also put 15% of their assets towards small business lending, so you can be sure that your deposits are being used for quality, wealth-building loans. That’s probably why we’ve featured them before as one of the best banking options with a branch in the Research Triangle area.


While more traditional, brick-and-mortar banks may seem like a boring choice among all the options available now for banking, these institutions are still the ones most likely to put your deposits to work in your community. First Federal Bank in Dunn is a fantastic example of a classic community bank which simply provides exceptional service and lending to their customers.


First Federal offers online and mobile banking, so we’d recommend them to anyone looking for their deposits to be used for wealth-building loans in low- and moderate-income neighborhoods in North Carolina. Check out their website to move your money there today.