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Mutual Federal Bank

Popular Accounts at this Bank

2.12%5-year CD5 Year Certificate
1.71%1-year CD1 Year Certificate
1.82%3-year CD2 1/2 Year Certificate

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

Mutual Federal Bank is headquartered in Chicago and is the 321st largest bank in the state of Illinois. It is also the 4,436th largest bank in the nation. It was established in 1905 and as of September of 2017, it had grown to 48 employees at 1 location. Mutual Federal Bank's CD rates are 90% higher than the national average, and it has a B+ health rating.

Related Posts

Mutual Federal Bank (IL) Raises 1-Year CD Rate - 8/18/2017

Mutual Federal Bank (Chicago) has raised the rate on its 1-year Certificate (1.62% APY). The minimum deposit is $500, with a balance cap of $249k. Also as an IRA.

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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: Anonymous | Oct 20, 2010

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 - YTD0.26%
Return on Equity - YTD1.61%
Annual Interest Income$2.8MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$92.4MM$79.0MM
LoansQ3 2017vs Q3 2016$75.9MM$62.9MM
DepositsQ3 2017vs Q3 2016$69.0MM$65.1MM
Equity CapitalQ3 2017vs Q3 2016$13.7MM$13.4MM
Loan Loss AllowanceQ3 2017vs Q3 2016$880.00K$825.00K
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$1.8MM$2.3MM
Real Estate OwnedQ3 2017vs Q3 2016$221.00K$100.00K
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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

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

Mutual Federal Bank Money Market Rates

0.50%*$2,500*-Money Market Account
OTHER TIERS: 0.25% Up to $2,500

Mutual Federal Bank Checking Account Rates

0.15%--Interest Checking

Mutual Federal Bank CD Rates

2.12%$500$249k5 Year Certificate
2.02%$500$249k4 Year Certificate
1.97%$500$249k3 Year Certificate
1.82%$500$249k2 1/2 Year Certificate
1.77%$500$249k2 Year Certificate
1.73%$500$249k18 Month Certificate
1.71%$500$249k1 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

2.12%$500$249k5 Year IRA
2.12%$500$249k5 Year Roth IRA
2.02%$500$249k4 Year IRA
2.02%$500$249k4 Year Roth IRA
1.97%$500$249k3 Year IRA
1.97%$500$249k3 Year Roth IRA
1.82%$500$249k2 1/2 Year IRA
1.82%$500$249k2 1/2 Year Roth IRA
1.77%$500$249k2 Year IRA
1.77%$500$249k2 Year Roth IRA
1.73%$500$249k1 1/2 Year IRA
1.73%$500$249k1 1/2 Year Roth IRA
1.71%$500$249k1 Year IRA
1.71%$500$249k1 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