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2212 W. Cermak Rd.
Chicago, IL 60608

Mutual Federal Bank is headquartered in Chicago and is the 380th largest bank in the state of Illinois. It is also the 5,191st largest bank in the nation. It was established in 1905 and as of June of 2014, it had grown to 20 employees at 1 location. Mutual Federal Bank's money market rates are 14% higher than the national average, and it has a B health rating.

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Reviews (2)

Super Nice And Helpful

The new Naperville branch (under the name "Great American Bank") was more then helpful with answering all my questions.  The banker I dealt with (Eric) was super nice and extremely helpful with everything.  With their above average rates and free checks for accounts; I will be returning to open new accounts as soon as I have more CD's come due.

Mutual Federal

This is a great bank that treats it's customers with class and kindness.


Data for Q2 2014

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Mutual Federal Bank has a relatively low asset base.

Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of June 30, 2014 Mutual Federal Bank had $4.34 million in non-current loans and owned real-estate with $13.9 million in equity and loan loss allowances on hand to cover it. This gives Mutual Federal Bank a Texas Ratio of 31.21% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Mutual Federal Bank experienced no significant changes from 33.79% as of June 30, 2013 to 31.21% as of June 30, 2014, resulting in a positive change of 7.63%.This indicates that the balance sheet and financial strength for Mutual Federal Bank has had no significant changes in recent periods.

Deposit Growth


In the past year, Mutual Federal Bank has increased its total deposits by $4.26 million, resulting in 6.9% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Mutual Federal Bank has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Mutual Federal Bank has $79.03 million in assets with $13.9 million in equity, resulting in a capitalization level of 17.59%, which is excellent.

Institution Statistics

FDIC Certificate #28302
Year Established1905
Primary RegulatorOCC
Assets and Liabilities
Assets$79.03 million
Loans$62.84 million
Deposits$65.90 million
Equity Capital$12.83 million
Loan Loss Allowance$1.07 million
Unbacked Noncurrent Loans$4.24 million
Real Estate Owned$105,000
Historic Data - June 2013
Assets$74.53 million
Equity Capital$12.60 million
Loan Loss Allowance$1.26 million
Unbacked Noncurrent Loans$4.24 million
Real Estate Owned$542,000
Profit Margin - Quarterly
Return on Assets0.31%
Return on Equity1.88%
Interest Income$1.68 million

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Mutual Federal Bank Savings Account Rates

0.35%$25-GreatKids Savings
0.15%--Statement Savings
0.15%--Passbook Savings

Mutual Federal Bank Money Market Rates

0.50%$2,500-Money Market Account

Mutual Federal Bank Checking Account Rates

0.15%--Interest Checking

Mutual Federal Bank CD Rates

1.47%$500-5 Year Certificate
1.37%$500-4 Year Certificate
1.27%$500-3 Year Certificate
0.95%$500-2 1/2 Year Certificate
0.81%$500-2 Year Certificate
0.65%$500-18 Month Certificate
0.55%$500-1 Year Certificate
0.35%$900-9 Month Certificate
0.20%$1k-6 Month Certificate
0.15%$1k-3 Month Certificate

Mutual Federal Bank IRA Rates

1.47%$500-5 Year IRA
1.47%$500-5 Year Roth IRA
1.37%$500-4 Year IRA
1.37%$500-4 Year Roth IRA
1.27%$500-3 Year IRA
1.27%$500-3 Year Roth IRA
0.95%$500-2 1/2 Year IRA
0.95%$500-2 1/2 Year Roth IRA
0.81%$500-2 Year IRA
0.81%$500-2 year Roth IRA
0.65%$500-1 1/2 Year IRA
0.65%$500-1 1/2 Year Roth IRA
0.55%$500-1 Year IRA
0.55%$500-1 Year Roth IRA
0.35%$900-9 Month IRA
0.35%$900-9 Month Roth IRA
0.20%$1k-6 Month IRA
0.20%$1k-6 Month Roth IRA
0.15%$1k-3 Month IRA
0.15%$1k-3 Month Roth IRA

Mutual Federal Bank Locations
Mutual Federal Bank2212 West Cermak RoadChicago, IL 60608