On Thursday, a long-time DA reader who keeps me informed about Chicago area bank deals, sent me a Chicago Tribune advertisement of three CD Specials offered by Evergreen Bank Group (EBG). These limited-time offers require new money, with a minimum deposit of $10k and a maximum deposit of $249,999.
|2.05%||$10k||$250k||Evergreen Bank Group||24 Month CD Special - New Money|
|1.85%||$10k||$250k||Evergreen Bank Group||18 Month CD Special - New Money|
|1.35%||$10k||$250k||Evergreen Bank Group||6 Month CD Special - New Money|
The 18-month and 24-month CD Specials are the most competitive, but the 6-month rate isn’t too shabby.
It took a little hunting, but I did find the CD Specials on the Bank’s website, and was able to confirm everything mentioned in the Chicago Tribune ad.
According to CSR, the Early Withdrawal Penalty for any of CD Specials is “just three months compounded interest.”
Thanks to the DA reader who sent me these latest CD Specials offered by Evergreen Bank Group. Keep reading the Chicago Tribune!
Evergreen Bank Group’s Kasasa Cash account continues to earns 2.25% APY on qualifying balances up to $15k. Qualifying balances of $15k+ earn 0.50% APY, with non-qualifying balances earning 0.05% APY. The Kasasa Cash account can be opened by any resident of Illinois through online application.
|2.25*%||-||$15k||Evergreen Bank Group||Kasasa Cash|
|OTHER TIERS: 0.76% → $15k+|
- Have at least 12 debit card purchases.
- Enroll in and receive eStatements.
The APY only ranks eighth when compared to other Reward Checking Accounts available in Illinois with minimum qualifying balances of at least $15k. But not having a Direct Deposit requirement makes this Kasasa Cash account that more attractive.
The Kasasa Cash account has no monthly service or minimum balance requirement, but does require a minimum $100 opening deposit. Unlimited domestic ATM fees will be reimbursed each month, if the qualifying requirements are met. Individual ATM fees of $5 or higher require a receipt for reimbursement. There is a limit of one Kasasa Cash account per Social Security number.
Headquartered in Oak Brook, Illinois, Evergreen Bank Group’s primary market area is the Chicago metropolitan area, better known as “Chicagoland.”
Any of the CD Specials can be opened at of the three suburban Chicago branches, which are located in Evergreen Park, Hinsdale, and Oak Brook.
Someday I would like to visit the Hinsdale (Grant Square) branch and try out the indoor golf simulator.
Evergreen Bank Group has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.29% (excellent) based on June 30, 2017 data. In the past year, EBG has increased its total non-brokered deposits by $66.98 million, an excellent annual growth rate of 12.93%. Please refer to our financial overview of Evergreen Bank Group (FDIC Certificate # 35230) for more details.
Evergreen Bank Group was established in 1999 as Evergreen Community Bank and is currently Illinois’ 57the largest bank, with assets in excess of $817 million. Thanks to its unusual and highly successful national motorcycle lending business, EBG has become one of the Chicago area’s most profitable community bank. 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 CD Specials Compare
When compared to the 269 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, Evergreen Bank Group's 18-month CD Special APY currently ranks first.
When compared to the 341 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, Evergreen Bank Group's 24-month CD Special APY currently ranks first.
The above rates are accurate as of 9/30/2017.