Evergreen Bank Group (IL) Adds 17-Month CD Special

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Deal Summary: 17-month CD Special, 1.70% APY, $10k minimum deposit, new money.

Availability: Chicago metropolitan area

Yesterday, a long-time DA reader notified me about a Chicago Tribune advertisement for an Evergreen Bank Group (EBG) 17-month CD Special (1.70% APY). This limited-time offer requires new money, with a minimum deposit of $10k and the “maximum deposit amount accepted is $249,999.”

The 17-month CD Special is not listed on the Bank’s website, so I called to confirm that the Chicago Tribune ad was accurate. CSR mentioned that in addition to the 17-month, EBG was offering several other CD Specials that are not on their website:

    12-month CD Special, 1.35% APY

    18-month CD Special, 1.75% APY

    24-month CD Special, 1.85% APY

    48-month CD Special, 2.05% APY

Like the 17-month, the other CD Specials require new money, with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for the 17- and 18-month CD Specials is “only three months compounded interest.”

Thanks to the DA reader who sent me this latest deal at Evergreen Bank Group. Keep reading the Chicago Tribune!

Kasasa Cash

Evergreen Bank Group’s Kasasa Cash account currently 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.

Qualifying Requirements

  • Have at least 12 debit card purchases.
  • Enroll in and receive eStatements.

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.

Kasasa Saver

The Kasasa Saver account links to the Kasasa Cash account, with automatic transfer of Kasasa Cash earnings on a monthly basis. Qualifying balances earn 1.05% APY up to $15k, with qualifying balances of $15k+ earning 0.50% APY; non-qualifying balances earn 0.05% APY.

Availability

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

The advertisement for the CD Special in the Chicago Tribune only lists the Hinsdale and Oak Brook branches. CSR confirmed that the CD Special(s) can be opened at of the three suburban Chicago branches, which are located in Evergreen Park, Hinsdale, and Oak Brook.

Bank Overview

Evergreen Bank Group has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.38% (excellent) based on March 31, 2017 data. In the past year, EBG has increased its total non-brokered deposits by $49.43 million, an excellent annual growth rate of 9.34%. 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 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 CD Special Compares

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-and 17-month CD Special APYs currently rank first and second, respectively.

The above rates are accurate as of 7/13/2017.

To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table, or our new Rates Map page.

Related Pages: Chicago CD rates, 1-year CD rates

Comments
Huh?
Huh?   |     |   Comment #1
One of those strange internet banks that only offer savings accounts. Plus, their rates were absolute garbage at the beginning of this year.
Huh?
Huh?   |     |   Comment #2
Ignore my post, it's for another bank. I guess I shouldn't start drinking this early in the morning. Although Corn Chex and bear are a great combination!
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