The Federal Savings Bank

Overview / Commentary
300 N. Elizabeth St, Fl. 3E
Chicago, IL 60607

The Federal Savings Bank is headquartered in Chicago and is the 51st largest bank in the state of Illinois. It is also the 805th largest bank in the nation. It was established in 2000 and as of June of 2020, it had grown to 1,293 employees at 2 locations. The Federal Savings Bank's money market rates are 36% higher than the national average, and it boasts an A+ health rating.

Reviews (4)

Incessant IRRRL Letters

Posted by: |

Once or twice a week, I get an IRRRL letter from these folks. They always have my name mispelt and always have a must act by date, different in every letter of course.

It's almost amusing that they have sent, I believe, over 50 such letters to me.

Waste Of Time

Posted by: |

I wasted an hour in an attempt to open a CD with this bank. They're incompetent and their website is for loans, not for purchasing CDs. If you want a CD they will mail you an application (SMH!).

Dishonest Don't Use

Posted by: |

Being sued by Citibank for fraudulently using social security numbers. Will not give receipts or contract like other banks. Very incompetent workers and have gang bangers stealing your info

The Federal Savings Bank Is A Scam!

Posted by: |


Dwayne Jacobs called us on 4/26/13 to offer us a 2.5% refi rate. We filled out the paperwork, but he never contacted us; we always had to contact him. We paid for and received the appraisal. He promised us a closing date of 5/31/13 or before, but had not been in contact with us to set things up. We contacted him on 5/23 only to learn that we had not locked in on the rate and there was nothing he could do about it. Now we are out the appraisal fee and the rates have gone up! This bank is a scam - do not use them!



Health Grade Components

FDIC Certificate #35518
Year Established2000
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD10.18%
Return on Equity - YTD73.64%
Annual Interest Income$11.3MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$1.16B$750.4MM
LoansQ2 2020vs Q2 2019$881.8MM$547.2MM
DepositsQ2 2020vs Q2 2019$960.7MM$628.1MM
Equity CapitalQ2 2020vs Q2 2019$133.1MM$93.9MM
Loan Loss AllowanceQ2 2020vs Q2 2019$1.9MM$1.0MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$5.0MM$3.9MM
Real Estate OwnedQ2 2020vs Q2 2019$194.00K$2.5MM
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Always verify rates and promotions with the bank or credit union. We are not The Federal Savings 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.

The Federal Savings Bank Savings Account Rates

0.25%$100-Statement Savings

The Federal Savings Bank Money Market Rates

0.60%*$100k*-Money Market
OTHER TIERS: 0.15% $1k - $10k | 0.20% $10k - $25k | 0.30% $25k - $50k | 0.40% $50k - $100k

The Federal Savings Bank Checking Account Rates

0.10%$100-Interest Checking

The Federal Savings Bank CD Rates

1.50%$10k-5 Year Promotional CD - Renewal Rate
1.40%$100k-5 Year Jumbo CD - New Money
1.35%$500-5 Year CD - New Money
1.20%$10k-3 Year Promotional CD - Renewal Rate
1.10%$100k-4 Year Jumbo CD - New Money
1.10%$10k-18 Month Promotional CD - Renewal Rate
1.05%$500-4 Year CD - New Money
0.95%$100k-3 Year Jumbo CD - New Money
0.90%$500-3 Year CD - New Money
0.85%$100k-2 Year Jumbo CD - New Money
0.80%$500-2 Year CD - New Money
0.80%$100k-18 Month Jumbo CD - New Money
0.75%$500-18 Month CD - New Money
0.70%$100k-1 Year Jumbo CD - New Money
0.65%$500-1 Year CD - New Money
0.40%$100k-6 Month Jumbo CD - New Money
0.35%$500-6 Month CD - New Money
0.25%$100k-3 Month Jumbo CD - New Money
0.20%$500-3 Month CD - New Money

The Federal Savings Bank Locations
The Federal Savings Bank300 North Elizabeth Street, Floor 3eChicago, IL 60607
Deerpath Branch664 N Western AveLake Forest, IL 60045

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