Our Mission & History

Family first since 1947

Our bank owes its start to Alexander E. Frontera, a prominent businessman active in New York City government. Just after World War II, he opened a bank in Maspeth, Queens, that quickly became a pillar of the local community. First, Frontera brought together a board of business leaders to guide the bank. Then he encouraged people living in this vibrant neighborhood to open accounts to save for their family’s future and take out mortgages to achieve the dream of home ownership.

Over time, Maspeth Federal Savings established itself as a trusted financial institution, admired for its prudent fiscal management and deep commitment to the community. Known for treating both employees and customers like family, it grew to five locations in Queens and one on Long Island. Since 1947, MFS has contributed millions to community groups and charitable institutions, including sponsorship of free concerts, movie nights and carnivals. Each year, MFS brings the community together for the Maspeth Memorial Day Parade, a September 11^th commemorative program, and many other events.

Today, our early roots have grown to $2.2 billion in assets, with robust digital and mobile banking services. We now offer six full-service branches and a loan center that has financed tens of thousands of residential, commercial, and mixed-use properties. Even more remarkable, we’ve remained independent throughout our history.

We look forward to meeting your financial needs with money-saving account benefits and state-of-the-art technology for many years to come. On behalf of the Board of Directors and our entire staff, thank you for helping us grow.

Read About Our History