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