We were founded in 1935 as Independence Federal Savings & Loan. Our name was changed in 1990 to Independence Federal Bank for Savings. We remain a federally chartered mutual thrift. A mutual bank is somewhat like a mutual insurance company. A mutual insurance company is actually owned by the policy owners. In the case of a mutual bank, the owners are technically the depositors.


Country House



Portfolio Lending

Independence Federal Bank for Savings is primarily a residential mortgage lender. We offer loans mainly for home purchase, but also for home improvement and to refinance an existing loan. We take pride in being a portfolio lender. That means we hold all of our loans in house to maturity and do not sell them into the secondary market.


Mon-Thur 8:30-4:30
Friday 8:30-5:00

305 1st St. West
Independence, IA 50644

Tel: 319.334.2545


Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts

Official Program Sponsor of Independence New Resident Housing Incentive Program