Eureka Federal Savings was a San Carlos, California, based thrift, which operated primarily in the San Francisco Bay Area, with 35 branches at the thrift's height. Founded in 1890, it was one of the oldest savings and loan organizations in California. Being a savings and loan, it was known primary for interest bearing accounts, certificates of deposit, and home loans, before its eventual downfall.

Collapse

Like many other savings and loans of its time, Eureka Federal made risky investments in the 1980s, primarily in the Las Vegas, Nevada, casino market. Many of its investments soured, and the thrift was seized by the

Federal Savings and Loan Insurance Corporation The Federal Savings and Loan Insurance Corporation (FSLIC) was an institution that administered deposit insurance for savings and loan institutions in the United States. History Establishment The FSLIC was established by the National Housing Act ...

in 1988. It was sold to private investors, and became

EurekaBank EurekaBank was a Foster City, California, based bank, with primary operations in the San Francisco Bay Area. Formerly known as Eureka Federal Savings and Loan, based out of San Carlos, California, and known for a scandal in the 1980s involving Joh ...

, a Federal Savings Bank.

Sponsorships

Eureka Federal Savings was the sponsor of the one-time

Eureka Federal Savings Classic The Eureka Federal Savings Classic was a golf tournament on the Champions Tour played only in 1981. It was played in San Francisco, California at the Harding Park Golf Club TPC Harding Park, formerly Harding Park Golf Club and commonly known as H ...

, a pro golf tournament on the Champions Tour, held in San Francisco in 1981.

Popular culture

The Eureka Federal Savings name was revived, temporarily, for filming of the 2008 film

Milk Milk is a white liquid food produced by the mammary glands of mammals. It is the primary source of nutrition for young mammals (including breastfed human infants) before they are able to digestion, digest solid food. Immune factors and immune ...

. During filming on Castro Street, the U.S. Bank branch, the final owner of Eureka's assets, was temporarily rebranded as Eureka Federal Savings, for a certain scene in the movie.{{original research?, date=October 2022 Defunct banks of the United States Banks established in 1890 1890 establishments in California Banks disestablished in 1988 1988 disestablishments in California Savings and loan crisis