UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                       Washington, DC 20549

                           SCHEDULE 13G

             Under the Securities Exchange Act of 1934

                (Amendment No. ________________) *


                  FIRSTFED FINANCIAL CORPORATION

                         (Name of Issuer)


                   COMMON STOCK, $0.01 par value

                  (Title of Class of Securities)

                            337907 10 9
                          (CUSIP Number)

Check  the  following  box  if  a  fee  is  being  paid  with  this
statement[   ].  (A  fee  is  not   required   only  if  the   filing
person:   (1)  has  a   previous   statement   on  file   reporting
beneficial  ownership  of more  than five  percent  of the class of
securities  described  in Item 1; and (2) has  filed  no  amendment
subsequent thereto reporting  beneficial  ownership of five percent
or less of such class.)  (See Rule 13d-7).

* The  remainder  of this  cover  page  shall be  filled  out for a
reporting  person's  initial  filing on this form with  respect  to
the subject class of securities,  and for any subsequent  amendment
containing  information which would alter the disclosures  provided
in a prior cover page.

The  information  required  in the  remainder  of this  cover  page
shall not be deemed to be  "filed"  for the  purpose  of Section 18
of  the  Securities  Exchange  Act of  1934  ("Act")  or  otherwise
subject  to the  liabilities  of that  section of the Act but shall
be subject to all other  provisions  of the Act  (however,  see the
Notes).






                                                  Page 1 of 5 pages




CUSIP NO. 337907 10 9               13G                  Page 2 of
5 Pages

1.    NAME OF REPORTING PERSON

      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      First Federal Bank of California
      Employee  Stock  Ownership  Plan and Trust  dated  January 1,
      1985.

2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a) X

                                                         (b)
3.    SEC USE ONLY

4.    CITIZENSHIP OR PLACE OF ORGANIZATION

      Delaware (parent holding company)


NUMBER OF       5.   SOLE VOTING POWER
SHARES               108,164
BENEFICIALLY    6.   SHARED VOTING POWER
OWNED BY             786,838
EACH            7.   SOLE DISPOSITIVE POWER
REPORTING            895,003
PERSON          8.   SHARED DISPOSITIVE POWER
WITH                 - 0 -

9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     895,003

10.  CHECK  BOX IF  THE  AGGREGATE  AMOUNT  IN  ROW  (9)  EXCLUDES
     CERTAIN SHARES*

11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     5.19%

12.  TYPE OF REPORTING PERSON*

     EP
                                                  Page 2 of 5 Pages


                           SCHEDULE 13G

Item 1          (a) Name of Issuer:
                FirstFed Financial Corp.

Item 1          (b)   Address  of  Issuer's   Principal   Executive Offices:
                401 Wilshire Blvd., Santa Monica, CA. 90401

Item 2          (a) Name of Person Filing:

                First Federal Bank of California Employees Stock Ownership
                Plan and Trust dated 01/01/85

Item 2          (b)  Address of  Principal  Business  Office or, if none,
                     Residence:
                401 Wilshire Blvd., Santa Monica, CA. 90401

Item 2          (c) Citizenship:

                Delaware (Parent Holding Company)

Item 2          (d) Title of Class of Securities:
                Common Stock

Item 2          (e) CUSIP Number:
                337907 10 9

Item 3     If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
           check whether the person filing is a:


      (a)  [ ]  Broker or Dealer registered under Section 15 of the Act
      (b)  [ ]  Bank as defined in section 3(a)(6) of the Act
      (c)  [ ]  Insurance Company as defined in section 3(a)(19) of the Act
      (d)  [ ]  Investment Company registered under section 8 of the Investment
                Company Act
      (e)  [ ]  Investment Adviser registered under section 203 of the
                Investment Advisers Act of 1940
      (f)  [X]  Employee Benefit Plan, Pension Fund which is subject to the
                provisions of the Employee Retirement Income Security Act of
                1974 or Endowment Fund; see Rule 3d-1(b)(1)(ii)(F)
      (g)  [ ]  Parent Holding Company, in accordance with Rule 13d-1 (b)
                (ii) (G) (Note: See Item 7)
      (h)  [ ]  Group, in accordance with Rule 13d-1(b)(1)(ii)(H)

Item 4.  Ownership.

(a) Amount Beneficially Owned:

      895,003

(b) Percent of Class:
      5.19%
                                                        Page 3 of 5




                          SCHEDULE 13G

(c) Number of shares as to which such person has:
      (i)  sole  power  to  vote  or to  direct  the  vote.........108,164
      (ii) shared  power  to  vote  or to  direct  the  vote.......786,838
      (iii)sole power to dispose or to direct the  disposition of: 895,003
      (iv) shared  power to dispose  or to direct  the  disposition of NONE

Item 5.
      Ownership of Five Percent or Less of a Class.

      If this  statement  is being filed to report the fact that as
      of the date hereof the reporting  person has ceased to be the
      beneficial  owner of more than five  percent  of the class of
      securities, check the following.         [X]

Item 6.

      Ownership  of More than  Five  Percent  on Behalf of  Another Person.

      Not applicable

Item 7.

      Identification  and  Classification  of the Subsidiary  Which Acquired
      the Security Being Reported on By the Parent Holding Company

      Not applicable

Item 8.

      Identification and Classification of Members of the Group

      Not applicable

Item 9.

      Notice of Dissolution of Group

      Not applicable

Item 10.

      Certification

      By signing  below I certify that, to the best of my knowledge and belief,
the securities  referred to above were acquired in the ordinary course of
business  and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any transaction
having such purpose or effect.

    After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

February 5, 2001

      ANN E. LEDERER
Ann E. Lederer, Member, ESOP
Administrative Committee
(see attached Certification)
                                                        Page 4 of 5




                           SCHEDULE 13G

                            Certificate



     I, the undersigned  Secretary of FirstFed  Financial Corp., do hereby
certify that the  following is a true and correct excerpt from the Minutes
of a duly called meeting of the Board of Directors of said corporation held
on April 26, 2000, at which a quorum was present and acting throughout:

     "Upon a motion duly made, seconded and unanimously passed by the Board the
E.S.O.P. Administrative Committee was re-established to be composed of Retired
Bank Senior Vice President, Murray Tanner, and Bank Officers Ann E. Lederer
and Shannon Millard, all to serve until the Company's next annual meeting."

WITNESS  my hand  and the seal of the  corporation  this 5th day of
February, 2001.





      ANN E. LEDERER
Ann E. Lederer
Secretary
FirstFed Financial Corp.




















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