EXHIBIT 21

Exhibit 21

SUBSIDIARIES OF THE REGISTRANT

The following is a list of the material subsidiaries of TFS Financial Corporation:

Name	State of Incorporation
Third Federal Savings and Loan Association of Cleveland	Federal*
Third Capital, Inc.	Delaware*
Third Cap Associates, Inc.	Ohio**
Third Capital Mortgage Insurance Company	Vermont**
Broadway Holding Company	Delaware ***
Broadway Realty Holdings Co.	Delaware****
FBE, Inc.	Ohio ***

* Subsidiary of TFS Financial Corporation

** Subsidiary of Third Capital, Inc.

*** Subsidiary of Third Federal Savings and Loan Association of Cleveland

**** Subsidiary of Broadway Holding Company