FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * PAULETT TERENCE C   2. Issuer Name and Ticker or Trading Symbol TFS Financial CORP [TFSL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Risk Off of Subsidiary (Last) (First) (Middle) 7007 BROADWAY AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 06/02/2014 (Street) CLEVELAND, OH 44105 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 06/02/2014   M   50,000 A $ 11.74 (1) 50,000 D   Common Stock 06/02/2014   F   45,649 (2) D $ 13.47 4,351 D   Common Stock 06/02/2014   S   4,351 D $ 13.37 0 D   Common Stock 06/02/2014   M   13,900 A $ 9.43 (1) 13,900 D   Common Stock 06/02/2014   F   11,064 (2) D $ 13.47 2,836 D   Common Stock 06/02/2014   S   2,836 D $ 13.37 0 D   Common Stock               17,482 D (3)   Common Stock               5,725 I By 401(k) (4) Common Stock               5,328 I By ESOP (4)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$ 11.74	06/02/2014		M			50,000	(5)	08/10/2018	Common Stock	50,000	$ 0	0	D
Employee Stock Option (right to buy)	$ 9.43	06/02/2014		M			13,900	(6)	12/15/2022	Common Stock	13,900	$ 0	27,800	D
Employee Stock Option (right to buy)	$ 11.64							(7)	12/03/2023	Common Stock	28,700		28,700	D
Restricted Stock Units	(8)							(9)	(9)	Common Stock	3,867		3,867	D
Restricted Stock Units	(8)							(10)	(10)	Common Stock	20,000		20,000	D
Restricted Stock Units	(8)							(11)	(11)	Common Stock	4,200		4,200	D
Employee Stock Option (right to buy)	$ 8.61							(12)	12/14/2021	Common Stock	40,000		40,000	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
PAULETT TERENCE C 7007 BROADWAY AVENUE CLEVELAND, OH 44105			Chief Risk Off of Subsidiary

Signatures

/s/ Paul J. Huml, Pursuant to Power of Attorney		06/04/2014
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Corresponds to the exercise price of the stock options.
(2)	Represents shares of common stock delivered to the issuer in payment by the reporting person of the options exercise price and withholding tax. This transaction is exempt under Rule 16b-3(e).
(3)	Shares are held with shared voting power with spouse.
(4)	Reflects transactions not required to be reported under Section 16 of the Securities Exchange Act, as amended.
(5)	The reporting person received a grant of 50,000 stock options that vest in three equal annual installments beginning August 11, 2011. The reporting person exercised 50,000 of his stock options on June 2, 2014.
(6)	The reporting person received a grant of 41,700 stock options on December 28, 2012. These stock options vest in three equal installments beginning December 15, 2013. The reporting person exercised 13,900 of his stock options on June 2, 2014.
(7)	As reported on a Form 4 dated December 12, 2013, the reporting person received a grant of 28,700 stock options on December 3, 2013. These stock options vest in three equal installments beginning December 3, 2014.
(8)	Each restricted stock unit represents a contingent right to receive one share of TFS Financial Corporation common stock. Restricted stock units are entitled to dividend equivalent rights in the form of a cash payment in the amount of any cash dividend paid per share of common stock.
(9)	The reporting person received a grant of 5,800 restricted stock units ("RSU's") on December 28, 2012. These RSU's vest in three equal annual installments beginning December 15, 2013.
(10)	The reporting person received a grant of 20,000 restricted stock units on December 19, 2011, which vest 100% on December 15, 2014.
(11)	As reported on a Form 4 dated May 14, 2009, the reporting person received a grant of 4,200 restricted stock units that vest in four equal annual installments beginning on May 12, 2010. Vested shares may be distributed to the reporting person only after that person's termination of employment with TFS Financial Corporation.
(12)	The reporting person received a grant of 40,000 stock options on December 19, 2011, which vest 100% on December 15, 2014.

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