Compass Federal Savings Bank was granted a Charter creating the "First Federal Savings and Loan of Wilmerding" on September 28, 1934 by the Federal Home Loan Bank Board. An organizational meeting was held on October 15, 1934 at the Wilmerding YMCA to officially receive the Charter, adopt by-laws, and elects the original 15 members of the Board of Directors. First Federal Savings and Loan of Wilmerding made its first mortgage loan on June 1, 1935 in the amount of $5,500.

Throughout the 1960's as First Federal was growing out of its existing building at 204 Westinghouse Avenue, redevelopment was in high gear in Wilmerding. The decision was made to build a new office at 111 Westinghouse Avenue in the new Wilmerding Plaza. The new office with updated equipment and facilities was designed to help continue the steady growth of the Savings and Loan.

On January 21, 1976 at the Annual Members meeting the name of the First Federal Savings and Loan of Wilmerding was changed to Compass Federal Savings and Loan Association. The name change was to signify that Compass is growing out beyond the boundaries of Wilmerding.

At special Members meeting on November 16, 1994, the name and charter was changed from Compass Federal Savings and Loan Association to Compass Federal Savings Bank. With the new savings bank charter, Compass plans to continue to build on the products and services available to our customers for the new millennium and beyond.

As noted on our website, effective July 1, 2006 Compass Federal Savings Bank changed it's name to Compass Savings Bank. Nothing has changed other than the name, we are still FDIC Insured.