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Overview / Commentary
773-254-3422
2869 South Archer Avenue
Chicago, IL 60608

Washington Federal Bank for Savings is headquartered in Chicago and is the 282nd largest bank in the state of Illinois. It is also the 4,079th largest bank in the nation. It was established in 1913 and as of March of 2014, it had grown to 16 employees at 2 locations. Washington Federal Bank for Savings' savings rates are 92% higher than the national average, and it boasts a A+ health rating.

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Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

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 March 31, 2014 Washington Federal Bank for Savings had $0 in non-current loans and owned real-estate with $14.64 million in equity and loan loss allowances on hand to cover it. This gives Washington Federal Bank for Savings a Texas Ratio of 0.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
A

In the past year, Washington Federal Bank for Savings has increased its total deposits by $4.09 million, resulting in 3.69% 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 Washington Federal Bank for Savings has shown is excellent.

Capitalization

GRADE:
A

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. Washington Federal Bank for Savings has $129.93 million in assets with $14.64 million in equity, resulting in a capitalization level of 11.27%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #30570
Year Established1913
Employees16
Primary RegulatorOCC
Assets and Liabilities
Assets$129.93 million
Loans$110.03 million
Deposits$115.05 million
Equity Capital$14.10 million
Loan Loss Allowance$547,000
Real Estate Owned$0
Historic Data - March 2013
Assets$123.92 million
Equity Capital$12.20 million
Loan Loss Allowance$522,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.01%
Return on Assets1.63%
Return on Equity15.03%
Interest Income$1.77 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Washington Federal Bank for Savings, we are a rate comparison website and can not provide official rates or promotions.

Washington Federal Bank for Savings Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.00%--Holiday Club
0.50%$50-Statement Savings
0.50%$50-Passbook Savings
0.50%$200-IRA Savings
0.50%$200-Roth IRA Savings
0.50%$200-CESA Savings

Washington Federal Bank for Savings Money Market Rates

DetailsAPYMINMAXPRODUCT
0.75%$1k-Money Market

Washington Federal Bank for Savings Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.35%$500-NOW Checking
0.35%--Lifestyle Checking

Washington Federal Bank for Savings CD Rates

DetailsAPYMINMAXPRODUCT
1.45%$1k-60 Month CD
1.25%$1k-48 Month CD
0.75%$1k-36 Month CD
0.70%$1k-11 Month CD
0.50%$1k-30 Month CD
0.45%$1k-24 Month CD
0.40%$1k-18 Month CD
0.30%$1k-12 Month CD
0.15%$1k-6 Month CD
0.10%$1k-91 Day CD

Washington Federal Bank for Savings IRA Rates

DetailsAPYMINMAXPRODUCT
1.45%$200-60 Month IRA
1.25%$200-48 Month IRA
0.75%$200-36 Month IRA
0.50%$200-30 Month IRA
0.45%$200-24 Month IRA
0.40%$200-18 Month IRA
0.30%$200-12 Month IRA
Locations


Washington Federal Bank for Savings Locations
West Taylor Branch1410 West Taylor StreetChicago, IL 60607
Washington Federal Bank For Savings2869 South Archer AveChicago, IL 60608