Dedicated to Deposits: Deals, Data, and Discussion
Mutual Federal Bank1.47%$500-5 Year Certificate
Mutual Federal Bank0.95%$500-2 1/2 Year Certificate
Accounts mentioned in this post. Rates as of August 27, 2014

Top 5-Year CD Rate at Mutual Federal Bank in Chicago - Local Only


Mutual Federal Bank

Mutual Federal Bank is offering a competitive 5-year CD rate of 3.10% APY. The 30-month CD rate is also fairly competitive at 2.00% APY. Minimum deposit is $500. These rates are listed at the bank's CD rate page as of 8/13/2010.

This bank used to offer top Jumbo 6-month CD rates, but currently the 6-month rate is low.

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 a little above average: 3 stars (performing) at, 3½ stars (good) at BauerFinancial and an overall health score of 4 out of 5 at (see our financial overview of Mutual Federal Bank). These ratings are based on 3/31/10 financial data. The bank has been a FDIC member since 1935 (FDIC Certificate # 28302).

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  Tags: Illinois, Mutual Federal Bank, CD rates

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Comment #1 by Anonymous posted on
Per the CSR, the withdrawal penalty on the 5 yr is only 180 days interest, so, for people in the Chicago area the 3.10% APY makes this a good deal relative to the national long term rates.