About The Book

From the depths of the Great Depression, Ben and Gerome Stefanski were driven by a mission to help people achieve the American Dream of homeownership and financial security when they founded Third Federal in 1938.

In 1987, Marc Stefanski succeeded his father Ben as chairman and CEO.

Under Marc's leadership, Third Federal has grown beyond the Slavic Village neighborhood of its founding to serve generations of loyal customers across the United States.

While driven by the original mission, he added his own values of love, trust, respect, a commitment to excellence, and fun to the Third Federal business model and to its culture.

Enduring through many economic challenges—the Great Depression, the savings & loan crisis of the 1980s, the housing bubble of the 2000s, and the COVID-19 pandemic, Third Federal has remained strong, stable, and safe.

The story of Third Federal invites reflection on how we live in both our personal and professional lives.

This is the story of how a business builds a culture—and how the values behind that culture have touched so many lives.

About The Author

MARC A. STEFANSKI is chairman and CEO of Third Federal Savings & Loan, headquartered in Cleveland. The company was founded by his parents, Ben and Gerome Stefanski, in 1938. Under Marc's leadership, the company has grown from $2 billion to $17 billion in 2024.

Marc, the youngest of five children, grew up in Shaker Heights, Ohio. Along with his family, his first loves were music and sports, forming his own rock back in eighth grade, a version of which continues today.

Marc has five adult children—Ashley, Kyle, Brad, Alex, and Melissa—with his first wife, Rhonda, who passed away from pancreatic cancer. Marc has two step-children, Scarlett and Briggs, with his wife Vanessa. They have seven grandchildren.

While dedicating his life to his family and Third Federal, Marc believe in empowering people and in a value system of love trust, respect, a commitment to excellence, and fun.

Product Details

  • Publisher: Forbes Books (January 14, 2025)
  • Length: 208 pages
  • ISBN13: 9798887500089

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Raves and Reviews

“The story of Marc Stefanski, like the story of Third Federal, is about values-driven leadership. His story demonstrates that putting people first in decision making is good for business, good for colleagues and customers, and good for the communities served by Third Federal. His book contains valuable lessons for leaders in all kinds of organizations.”

Barbara R. Snyder
President, Association of American Universities; President Emerita, Case Western Reserve University

“In many ways, Marc Stefanski is Jimmy Stewart’s George Bailey. Marc cares deeply about people—his associates, his customers, his community, and his family. Additionally, the culture he has worked so hard to create reflects this. I’m proud to say I have worked with Marc on projects that demonstrate his seriousness of purpose and decency. Through People First: The Third Federal Way, he reminds us of the power of simple, people-first values. This book is a must read both because of the story it tells and the author who wrote it.”

Gene Ludwig
Former US Comptroller of the Currency; Founder and CEO, Ludwig Advisors

“Marc has always been a great listener and cool under pressure. It’s evident from reading the stories in this book how his family and his values shaped him into a tremendous leader and led him to become one of the most admired executives in the banking industry. Marc’s core values helped guide his good decision making at Third Federal, which over time transformed the bank into a true success story.”

Jimmy Dunne
Vice Chairman and Senior Managing Partner, Piper Sandler

“What a privilege to say Marc Stefanski’s People First: The Third Federal Way is an engaging book. His insights into leadership, while connecting these principles to personal relationships is an outstanding model to be followed in all aspects of life. There's no doubt that reading this book will enrich your life, whether from a business perspective or a personal perspective.”

Richie Furay
Inductee, Rock and Roll Hall of Fame; American Music Luminary

“I met Marc Stefanski in 2009 when I joined the ‘small, Midwestern college’ that he had attended many years earlier. In one instant, I finally saw Jim Collins' Good to Great concept of Level 5 Leadership centered on "personal humility" and "professional will" in full display at Third Federal. With profound gratitude, I have been fortunate to experience and feel Marc’s authentic family and business core values of love, trust, respect, excellence, and fun over the years that have followed. This book is about living a life and leading others in a way that truly matters.”

Dr. Robert H. Huntington
President, Heidelberg University

“Marc’s personal values translate into everything he does, and have helped him to become a transformative leader and an engaged family man. He is truly a person of empathy and integrity, understanding the importance of balance and purpose, and of giving those around him a voice in decision-making. Marc is an outstanding CEO, but an even better man.”

Joe Ehrmann
President, InSideOut Initiative; Former Defensive Lineman, NFL

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