Mutual Federal Bank

Overview / Commentary
2212 W. Cermak Rd.
Chicago, IL 60608

Mutual Federal Bank is headquartered in CHICAGO and is the 280th largest bank in the state of Illinois. It is also the 3,882nd largest bank in the nation. It was established in 1905 and as of December of 2023, it had grown to 15 employees at 1 location. Mutual Federal Bank's money market rates are 70% higher than the national average, and it has a B+ health rating.

Reviews (2)

Super Nice And Helpful

The new Naperville branch (under the name "Great American Bank") was more then helpful with answering all my questions.  The banker I dealt with (Eric) was super nice and extremely helpful with everything.  With their above average rates and free checks for accounts; I will be returning to open new accounts as soon as I have more CD's come due.

Mutual Federal

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This is a great bank that treats it's customers with class and kindness.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Mutual Federal Bank has a relatively low asset base.

Health Grade Components

FDIC Certificate #28302
Year Established1905
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.02%
Return on Equity - YTD0.14%
Annual Interest Income$5.3MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$99.7MM$116.9MM
LoansQ4 2023vs Q4 2022$84.6MM$100.5MM
DepositsQ4 2023vs Q4 2022$69.4MM$70.5MM
Equity CapitalQ4 2023vs Q4 2022$15.3MM$15.6MM
Loan Loss AllowanceQ4 2023vs Q4 2022$1.3MM$1MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$645K$518K
Real Estate OwnedQ4 2023vs Q4 2022$0$785K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Mutual Federal Bank Savings Account Rates

0.25%--Passbook Savings

Mutual Federal Bank Money Market Rates

0.75%*$2.5k*-Money Market Account
OTHER TIERS: 0.25% Up to $2.5k

Mutual Federal Bank CD Rates

3.53%$1k-9 Month Certificate Special
0.65%$500$249k6 Month Certificate
0.65%$500$249k1 Year Certificate
0.65%$500$249k5 Year Certificate
0.65%$500$249k2 Year Certificate
0.65%$500$249k3 Year Certificate

Mutual Federal Bank Locations
Mutual Federal Bank2212 W Cermak RdChicago, IL 60608

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