We’re here to build with you.

Flexible funds for your business.

Commercial Lines of Credit are available for customers who hold commercial real estate first mortgages with Maspeth Federal—something to keep in mind when you make Commercial Real Estate Loan decisions in the future:

• Use available funds as needed for operational expenses like purchasing and upgrading equipment, improving cash flow (payroll) and building renovations
  
  
• Interest rates adjust monthly to the higher of the initial interest rate or the prime rate as reported in The New York Times
  
  
• Maximum line of credit up to $2,000,000 (not to exceed 65% CLTV)
  
  
• 5-year draw period (interest only)
  
  
• Access by writing a check ($2,000 minimum withdrawal required)
  
  
• No points or prepayment penalties
  
  
• Interest may be tax-deductible
  
  
• Converts into 15-year fixed self-liquidating mortgage after draw period
  
  
• Renewal may be available at the end of the term

Neighbor-to-neighbor banking 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 11th commemorative program, and many other events.

We now offer six full-service branches and a loan center that has financed tens of thousands of residential, commercial, and mixed-use properties. We look forward to meeting your financial needs with money-saving account benefits and state-of-the-art technology for many years to come.