Mutual Federal Bank

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

Mutual Federal Bank is headquartered in Chicago and is the 297th largest bank in the state of Illinois. It is also the 4,081st largest bank in the nation. It was established in 1905 and as of June of 2021, it had grown to 48 employees at 1 location. Mutual Federal Bank's money market rates are 14% 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

Posted by: |

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 - YTD0.11%
Return on Equity - YTD0.67%
Annual Interest Income$1.6MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$99.9MM$84.6MM
LoansQ2 2021vs Q2 2020$60.5MM$74.0MM
DepositsQ2 2021vs Q2 2020$73.6MM$59.3MM
Equity CapitalQ2 2021vs Q2 2020$15.3MM$14.2MM
Loan Loss AllowanceQ2 2021vs Q2 2020$924.00K$871.00K
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$1.3MM$1.5MM
Real Estate OwnedQ2 2021vs Q2 2020$765.00K$788.00K
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Always verify rates and promotions with the bank or credit union. We are not Mutual Federal Bank; we are a rate comparison website and cannot provide official rates or promotions.

* 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

0.35%$25-GreatKids Savings
0.15%--Statement Savings
0.15%--Passbook Savings

Mutual Federal Bank Money Market Rates

0.50%*$2.5k*-Money Market Account
OTHER TIERS: 0.25% Up to $2.5k
0.50%*$2.5k*-Business Money Market Account
OTHER TIERS: 0.25% Up to $2.5k

Mutual Federal Bank Checking Account Rates

0.15%--Interest Checking

Mutual Federal Bank CD Rates

0.65%$500$249k1 Year Certificate
0.65%$500$249k2 1/2 Year Certificate
0.65%$500$249k5 Year Certificate
0.65%$500$249k18 Month Certificate
0.65%$500$249k2 Year Certificate
0.65%$500$249k3 Year Certificate
0.65%$500$249k4 Year Certificate
0.35%$500$249k9 Month Certificate
0.20%$500$249k6 Month Certificate
0.15%$500$249k3 Month Certificate

Mutual Federal Bank IRA Rates

0.65%$500$249k1 Year IRA
0.65%$500$249k1 1/2 Year IRA
0.65%$500$249k2 Year IRA
0.65%$500$249k2 1/2 Year IRA
0.65%$500$249k3 Year IRA
0.65%$500$249k4 Year IRA
0.65%$500$249k5 Year IRA
0.65%$500$249k1 Year Roth IRA
0.65%$500$249k1 1/2 Year Roth IRA
0.65%$500$249k2 1/2 Year Roth IRA
0.65%$500$249k3 Year Roth IRA
0.65%$500$249k4 Year Roth IRA
0.65%$500$249k5 Year Roth IRA
0.65%$500$249k2 Year Roth IRA
0.35%$500$249k9 Month IRA
0.35%$500$249k9 Month Roth IRA
0.20%$500$249k6 Month IRA
0.20%$500$249k6 Month Roth IRA
0.15%$500$249k3 Month IRA
0.15%$500$249k3 Month Roth IRA

Mutual Federal Bank Locations
Mutual Federal Bank2212 West Cermak RoadChicago, IL 60608

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