Newton Federal Bank was originally organized as Newton County Building and Loan Association under the Laws of the State of Georgia on November 14, 1928. W.C. MeGahee was the founder.
A Federal Charter was granted on January 13, 1947, and the Association became Newton Federal Savings and Loan Association with assets of $125,543.00. The Association was established to encourage thrift and home ownership.
In December 2000, the Eastside branch located at 8258 Highway 278 was opened to serve customers in Covington and Newton County areas. In addition, the Association's services have expanded from first mortgage loans and passbook savings to include checking accounts, construction loans, equity credit lines, consumer loans, share loans (loans secured by savings accounts), certificates of deposit, travelers' checks, ATM's, debit cards, telephone banking and Internet banking.
As of January 1, 2004 Newton Federal Savings & Loan Association changed its name to Newton Federal Bank. In October 2006, the Southside branch was opened at 10131 Carlin Ave. giving Newton Federal Bank three locations to meet the needs of our area.