Evergreen Bank (IL) Adds 6-Month Money Market Rate Guarantee


Availability: Chicago metropolitan area

Yesterday, Chicagoland DA reader, miked, posted in the Forum about Evergreen Bank Group’s (EBG) Money Market Special that guarantees 1.05% APY on $25k+ balances for 180 days. New money is required to qualify for the promotional rate. Balances between $2,500 and $9,999 earn 0.35% APY, with balances between $10,000 and $24,999 earning 0.45% APY.

The Fine Print

  • Promotional rate requires new money.
  • Account balances falling below $2,500 will result in a 0.00% APY.
  • Minimum opening deposit is $2,500, with no stated balance cap.
  • If the ledger balance should fall below $2,500 during the statement cycle, a $15 fee will apply.
  • If the account is closed within 180 days of opening, a $150 closing fee will be assessed.
  • Following the initial 180 days, the account will convert to a Cornerstone Money Market.
0.55*%$25k-Evergreen Bank GroupCornerstone Money Market
OTHER TIERS: 0.20% $2,500 - $10k | 0.30% $10k - $25k
Accounts mentioned in this post. Rates as of May 28, 2017.

Thanks to DA reader, miked, for his continued monitoring of Chicagoland deals and offerings.


Headquartered in Oak Brook, Illinois, Evergreen Bank Group’s primary market area is the Chicago metropolitan area, aka “Chicagoland.”

The advertisement for the Money Market Special in the Chicago Tribune only mentions the new branch in the Grant Square Shopping Center (Hinsdale). CSR confirmed that the Money Market Special is also available at either of the two established suburban Chicago branches, which are located in Evergreen Park and Oak Brook.

The fine print includes a rather unusual statement:

Evergreen Bank Group reserves the right to limit the use of its Golf Simulator to bank customers.

EBG’s new Grant Square branch offers a coffee house, shoe shine service, community room, and a Golf Club, complete with Golf Simulator. Rather than thumbing through old magazines, you can work on your golf swing as you wait for any paper work to be completed.

Bank Overview

Evergreen Bank Group (FDIC Certificate # 35230) has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.50% (excellent) based on September 30, 2016 data. In the past year, EBG has increased its total non-brokered deposits by $42.92 million, an excellent annual growth rate of 7.14%. Please refer to our financial overview of Evergreen Bank Group for more details.

Evergreen Bank Group was established in 1999 as Evergreen Community Bank, and has become one of the Chicago area’s most profitable community bank, thanks to its unusual and highly successful national motorcycle lending business. A Business Wire August 2015 press release stated,

Evergreen Bank Group (“Evergreen”), with the support of Polaris Industries Inc. (“Polaris”,
NYSE: PII), announced that on September 1, 2016, Evergreen will launch a new lending
division, Performance Finance, exclusively focused on the financing of Polaris motorcycle
and Slingshot products. Evergreen will operate the Performance Finance division out of its
Reno, Nevada facility, in connection with a multi-year retail financing contract with Polaris.

How the Money Market Special Compares

When compared to the Money Market Accounts tracked by DepositAccounts.com that are available to Chicagoland residents, Evergreen Bank Group's Money Market Special APY currently ranks fourth, regardless of minimum deposit.

The above rates are accurate as of 1/13/2017.

To search for Money Market rates, both nationwide and state specific, please refer to the Money Market rates section of DepositAccounts.com.

Open An Evergreen Bank Group Kasasa Cash Account And Get $100

UPDATE: I received confirmation that applying for the Kasasa Cash $100 bonus can be done online.

Availability: llinois

In September, I wrote about Evergreen Bank Group’s (EBG) Kasasa Cash account that now earns 2.25% APY on qualifying balances up to $15k. This morning, Chicagoland DA reader, miked, let me know about a $100 cash bonus EBG is offering when opening a new Kasasa Cash account through the end of the year.

In addition to meeting the Kasasa Cash monthly qualification for the first 3 statement cycles...

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Evergreen Bank Group (IL) Offers State-Wide Kasasa Cash
Availability: llinois

Evergreen Bank Group (EBG) recently raised the rate on its Kasasa Cash account, with qualifying balances up to $15k now earning 2.25% APY. Qualifying balances over $15k earn 0.50% APY and non-qualifying balances earn 0.05% APY.

The Kasasa Cash account has been a part of EBG’s product line for more than three years, and the current APY is the first rate increase since its introductory rate of 2.05% APY.

Kasasa Cash Qualification Requirements

  • At least 12 debit card purchases.
  • Be enrolled in and receive eStatements.
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New Kasasa Accounts at Evergreen Bank Group near Chicago

Evergreen Bank Group has recently launched reward checking and savings accounts under the Kasasa brand. As is common for new Kasasa accounts, the rates and balance caps are a little disappointing. Nevertheless, they give those who live in the Chicago metro area another reward checking option. The reward checking account is called Kasasa Cash, and the linked savings account is called Kasasa Saver. The account details are listed in the bank’s Kasasa Cash page and Kasasa Saver page. A summary of the rates and features as listed at these bank’s...

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5.20% 12-Month / 5.35% 5-Month CD at an Illinois Bank (Evergreen Private).
Evergreen Private Bank is listing some very competitive CD rates for its Cornerstone CD Promotion. These include a 5.35% APY 5-month CD, 5.20% APY 12-month CD and a 5.10% APY 15-month CD. The minimum deposit is $10,000. New money or additional account relationships are required. There's a December date on the rate table, so hopefully these rates are still valid. I haven't contacted the bank to verify.

The bank also offers the CDARS Program which provides an easy way to purchase CDs that can be FDIC insured up to $50 million....

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5.55% 5-Month CD at an Illinois Bank Plus iPod nano or $200 Checking Account Bonus (Evergreen Private Bank)
Evergreen Private Bank has a promotion with several good deals. These include:
  • iPod nano or $200 credit for opening a Cornerstone Checking account with direct deposit. Must maintain balance above $0 or a $10 monthly fee is assessed. $150 fee applies if closed within 6 months.
  • 5.00% APY checking account with minimum $15K balance, 4.00% APY with $10K min and 3.00% with a $1K min. No interest for balances under $1K.
  • 5.75% APY money market account for balances over $25K for the first 3 months. After 3 months the rate falls to the...

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