In 1906, a group of citizens and local businessmen met in Brooklyn and formed the Arundel Perpetual Building and Loan Association, now Arundel Federal Savings Bank, to assist neighbors in financing their homes. Over 100 years later, the staff at Arundel Federal still operates under the original mission: to serve the community and help their neighbors.
Arundel Federal is a mutual savings bank with all of the bells and whistles of a larger corporate bank, but it focuses business within the state.
“We only accept deposits from Maryland residents and make loans for Maryland residents, which helps our communities grow and become stronger,” said marketing manager Jeanne Slaughter. “This is where we live too, so it's important for us to reinvest.”
Mortgage loans have always been Arundel Federal’s “bread and butter,” but within the last few years, commercial real estate and business checking programs have been established.
Currently there are branches in Annapolis, Brooklyn, Severna Park, Gambrills, Pasadena and Glen Burnie. The six branch managers have worked for Arundel Federal for an average of 25 years.
“We have a great staff,” said President and Chief Executive Officer Thomas Herpel, who has been with Arundel Federal for 29 years. “A lot of the employees here have been here longer than me. We have one employee that's been here for 45 years. She started here when she was 18.”
Though Slaughter has been with Arundel Federal for only four years, she understands why people stay for so long.
“The best part of the job is the community outreach,” Slaughter said. “It's the most fun and it's the most fulfilling.”
The staff at Arundel Federal strives to be active in the community. All of the branch managers serve on various boards and have a budget for community service each year.
“We are committed to the health and well-being of the communities that we serve,” Slaughter said. “Various management serve on the local board and all of our six branch managers are very involved in the surrounding communities.”
For 12 years, Arundel Federal has hosted a food drive at each of the six branches and the administrative office. This year, the food drive began on October 1 and will end on November 9. Each branch manager selected an organization to receive donations. Among the organizations receiving donations are SPAN, the Pasadena Business Association and the Anne Arundel County Food Bank.
Arundel Federal also hosts a toy drive during the holiday season. For the last 17 years, the community, staff and bankers have dropped off toys for families in need. Most years, enough toys are collected to empty the collection boxes multiple times and make two trips in the company van. Herpel hopes that this year’s drive will be even more successful.
“We just figured it's even more important now with COVID to bring in the toys and get them to people who need it,” said Herpel.
Arundel Federal’s relationship with the community is especially important, as the community dictates the bank’s success.
“A strong community makes for a strong bank,” Herpel said. “If the community is having issues, that will roll into the banks.”
While the community has been struggling with the effects of COVID-19, Arundel Federal has followed through with the promise to assist the community. The bank's new Free Mortgage Checkup was established to help community members assess their mortgages or current rent to make their living situation more manageable during the pandemic. Each branch is also encouraging bankers to utilize the drive-thru at each location and bank online as much as possible to keep themselves and fellow bankers safe at this time, though the branches are open to the public once again.
Herpel said that the company will continue to expand and appeal to a younger demographic with online and mobile banking, but will always be the same presence in the community that it has been for over 100 years.
“As long as we remain active in our community, the bank will continue to grow,” Herpel said.
To learn more about Arundel Federal Savings Bank, visit www.arundelfederal.com or call 410-768-7800.