Dedicated to Deposits: Deals, Data, and Discussion

Top 6-Month Jumbo CD at Mutual Federal Bank in Chicago - Local Only


Mutual Federal Bank

Update: This 6-month CD rates have fallen.

Mutual Federal Bank continues to offer very competitive 6-month CD rates. Its Jumbo 6-month CD has a 1.75% APY. This requires a $100,000 minimum deposit. Its 6-month CD rate for a $1,000 minimum is also competitive with a 1.50% APY. Other notable non-Jumbo rates include a 1.75% APY for 12 months, 1.65% APY for 9 months and 1.25% APY for 3 months. These rates are listed at the bank's CD rate tables as of 3/30/2010.

It appears that a branch visit is required to open an account. It's a small bank with one office located at 2212 West Cermak Road, Chicago, IL.

The bank's ratings for safety and soundness are average: 3 stars (performing) at (based on 9/30/09 data) and 3½ stars (good) at BauerFinancial (based on 12/31/09 data). The bank has been a FDIC member since 1935 (FDIC Certificate # 28302).

  Tags: Illinois, Mutual Federal Bank, CD rates

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Comment #1 by Tim (anonymous) posted on
This is an excellent bank that has been around forever.  It has very friendly bankers.