EXHIBIT 10.7 EMPLOYMENT AGREEMENT BETWEEN CENTRAL FEDERAL SAVINGS AND LOAN ASSOCIATION OF WELLSVILLE AND DANIEL F. GALEOTI EXHIBIT 10.7 Mr. Galeoti's Employment Agreement is the same as the Employment Agreement in Exhibit 10.5, which is incorporated...

                                  EXHIBIT 10.7
            EMPLOYMENT AGREEMENT BETWEEN CENTRAL FEDERAL SAVINGS AND
              LOAN ASSOCIATION OF WELLSVILLE AND XXXXXX X. XXXXXXX







                                  EXHIBIT 10.7

         Xx. Xxxxxxx'x Employment Agreement is the same as the Employment
Agreement in Exhibit 10.5, which is incorporated herein by reference except as
to: (i) the name of the signatory, which is Xxxxxx X. Xxxxxxx; (ii) the position
in Section 1, which is Vice President of Mortgage Operations; (iii) the
signatory for the Company, which is Xxxxxxx X. Xxxxxxxx; (iv) the guarantor for
the Company, which is Xxxxxxx X. Xxxxxxxx; and (v) the amount of the base salary
in Section 3(a), which is $81,130.