The Federal Savings Bank is headquartered in Chicago and is the 57th largest bank in the state of Illinois. It is also the 1,032nd largest bank in the nation. It was established in 2000 and as of June of 2019, it had grown to 1,041 employees at 2 locations. The Federal Savings Bank's money market rates are 36% higher than the national average, and it has an A health rating.
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Waste Of Time
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
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!
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!
Data as of Q2 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35518 |
| Year Established | 2000 |
| Employees | 1041 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 7.6% |
| Return on Equity - YTD | 46.97% |
| Annual Interest Income | $10.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $750.4MM$298.5MM |
| Loans | Q2 2019vs Q2 2018 | $547.2MM$251.7MM |
| Deposits | Q2 2019vs Q2 2018 | $628.1MM$213.6MM |
| Equity Capital | Q2 2019vs Q2 2018 | $93.9MM$70.2MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $1.0MM$980.00K |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $3.9MM$4.9MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $2.5MM$216.00K |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.25% | $100 | - | Statement Savings |
The Federal Savings Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.10% | $100 | - | Interest Checking |
The Federal Savings Bank CD Rates
| The Federal Savings Bank Locations | ||
|---|---|---|
| The Federal Savings Bank | 300 North Elizabeth Street, Floor 3e | Chicago, IL 60607 |
| Deerpath Branch | 664 N Western Ave | Lake Forest, IL 60045 |