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Overview / Commentary
100 West University Avenue
Champaign, IL 61820

Busey Bank is headquartered in Champaign and is the 7th largest bank in the state of Illinois. It is also the 168th largest bank in the nation. It was established in 1946 and as of December of 2017, it had grown to 1,085 employees at 65 locations. Busey Bank has an A+ health rating.

Reviews (2)

Busey Bank: No Nonesense

I have been using Busey Bank since I was 16 years old. It was very easy to set up a checking and savings account, get debit cards, and bank online. The customer service is very helpful in most locations. Because they are opening up new branches, there are new tellers being added to the team, so sometimes the wait times are longer than expected, usually because there is a team member being trained or not knowledgeable yet about the procedure you've request them to do. Other than that, I have had no complaints. The fees are very reasonable, and they offer overdraft protection on some accounts, which is very helpful for checking accounts. I would recommend Busey Bank to anyone who wants a simple, no hassle banking experience.

Customer Evaluation of Busey Bank

I have been banking with Busey bank for approximately 3 years. It is a local bank in the Champaign, IL area. They have a few branches in that area and would be considered a small local bank. I chose to bank with them because of the convenience of having a branch in my home town, and the requirements to open a checking account were less strict than other banks in the area. Also, the availability of drive-through ATMs was another factor that made me choose to bank with them.

My experience with the customer service at Busey bank exceeded all my previous experiences with other banks. The employees there are very friendly and they will eagerly solve any issues for you with a pleasant and helpful attitude. My experiences with online chat representatives has also been pleasant and satisfactory. In a situation where I needed the approval of the branch manager, I was also pleasantly surprised with his friendliness and eagerness to help.

Using the bank website is more than adequate for most standard banking activities. The website is robust and intuitive.

The only drawback of Busey bank is probably a lack of a totally free checking. To open and maintain a checking account, one needs at least a $100 deposit and must either maintain a $100 balance or have monthly recurring direct deposits to avoid a $5 monthly service charge. All-in-all, If you live in the Champaign area and don't need a totally free checking, Busey is my number one recommendation.


Health Grade Components

FDIC Certificate #16450
Year Established1946
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.97%
Return on Equity - YTD8.31%
Annual Interest Income$219.1MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$7.11B$5.38B
LoansQ4 2017vs Q4 2016$5.21B$4.09B
DepositsQ4 2017vs Q4 2016$5.68B$4.40B
Equity CapitalQ4 2017vs Q4 2016$871.7MM$602.2MM
Loan Loss AllowanceQ4 2017vs Q4 2016$53.4MM$47.8MM
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$22.8MM$21.6MM
Real Estate OwnedQ4 2017vs Q4 2016$1.1MM$2.5MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Busey Bank Savings Account Rates

0.50%*$25k*-Health Savings
OTHER TIERS: 0.03% Up to $1,500 | 0.15% $1,500 - $10k | 0.35% $10k - $25k
0.20%$50-IRA Savings
0.01%$100-Online Everyday Savings Account
0.01%--Everyday Savings
0.01%--Minor Savings

Busey Bank Money Market Rates

0.20%*$50k*-Pillar Money Market
OTHER TIERS: 0.01% Up to $2,500 | 0.05% $2,500 - $15k | 0.10% $15k - $50k
0.10%*$50k*-Online Money Market Account
OTHER TIERS: 0.01% Up to $2,500 | 0.03% $2,500 - $15k | 0.05% $15k - $50k
0.10%*$50k*-Money Market
OTHER TIERS: 0.01% Up to $2,500 | 0.03% $2,500 - $15k | 0.05% $15k - $50k

Busey Bank Checking Account Rates

0.10%*$100k*-Capstone Checking
OTHER TIERS: 0.01% $10k - $100k
0.10%*$15k*-Capital Checking
OTHER TIERS: 0.01% $1k - $15k
0.10%*$15k*-Online Capital Checking Account
OTHER TIERS: 0.01% $1k - $15k
0.01%$3k-Online Pillar Checking Account
0.01%$3k-Pillar Banking

Busey Bank CD Rates

2.50%$1k-48 Month CD
2.25%$2,500-3 Year Portfolio CD Package
2.10%$2,500-2 Year Portfolio CD Package
2.00%$2,500-1 Year Portfolio CD Package
1.00%$1k-60 Month CD
0.40%$1k-36 Month CD
0.30%$1k-24 Month Online CD
0.30%$1k-24 Month CD
0.25%$1k-18 Month Online CD
0.25%$1k-18 Month CD
0.20%$1k-12 Month Online CD
0.20%$1k-12 Month CD
0.10%$1k-6 Month Online CD
0.10%$1k-6 Month CD

Busey Bank IRA Rates

2.50%$500-48 Month IRA
1.00%$500-60 Month IRA
0.40%$500-36 Month IRA
0.30%$500-24 Month IRA
0.25%$500-18 Month IRA
0.20%$500-12 Month IRA
0.20%$50-18 Month Variable IRA
0.10%$500-6 Month IRA