The Federal Savings Bank

Overview / Commentary
4120 W Diversey Ave
Chicago, IL 60639

The Federal Savings Bank is headquartered in CHICAGO and is the 56th largest bank in the state of Illinois. It is also the 1,113th largest bank in the nation. It was established in 2000 and as of March of 2023, it had grown to 1,170 employees at 2 locations. The Federal Savings Bank's CD rates are 6X the national average, and it has a B health rating.

Related Posts

Great Rate, Not-So-Great Customer Service - 9/23/2023

I was interested in the 12mo Promo CD, 5.80% APY and called to get more details. It's not a good sign when your call is instantly put on hold. About 30 seconds later I heard the "no one is available to take your call, please leave a message." I called back several times over 2 hours but never got through to a live person. I finally left a message, but no return call so far.

12 Month CD Paying 5.80% APY - 9/22/2023

12 month CD paying 5.80% APY not listed in CD rate section

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Reviews (3)

Fantastic Service - Repeat Customer

I had a fantastic experience with The Federal Savings Bank, back in April I started a refinance, and then just a few months back I started a construction loan with them. Both times, rates, and fees were lower, and the customer service has been excellent. Outside of a few delays from my builder, this was outside of the banks control. I appreciate their transparency, competitive nature, and their great staff who kept us up to date all the way through. Thanks for two smooth transactions.

Great Refinance Experience...No Hassle

We refinanced our home with The Federal Savings Bank...What a Great Experience. No runarounds just the truth. Had been referred by a friend and glad we went with them. They were upfront with everything in the beginning and said what they would do and did what they said. They worked really hard, most everything was online, very easy. Great Rate with no hassle and a short start to finish. We closed, payoff in two days, we took out a little for home repairs that was deposited in two days, and can't say enough how much I highly recommend. No Scams here or High cost for pulling out a little for repairs.

Waste Of Time

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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!).

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. The Federal Savings Bank has a negative return on equity.

Health Grade Components

FDIC Certificate #35518
Year Established2000
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-2.42%
Return on Equity - YTD-13.27%
Annual Interest Income$9.7MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$879.9MM$800.0MM
LoansQ1 2023vs Q1 2022$649.5MM$473.7MM
DepositsQ1 2023vs Q1 2022$492.4MM$575.7MM
Equity CapitalQ1 2023vs Q1 2022$149.1MM$162.8MM
Loan Loss AllowanceQ1 2023vs Q1 2022$4.8MM$1.9MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$7.9MM$3.8MM
Real Estate OwnedQ1 2023vs Q1 2022$0$1.8MM
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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 Federal Savings Bank Savings Account Rates

0.25%$100-Statement Savings

The Federal Savings Bank Money Market Rates

2.50%$2k-Virtual Money Market

The Federal Savings Bank Checking Account Rates

0.10%$100-Interest Checking

The Federal Savings Bank CD Rates

5.65%$5k-12 Month Promotional CD - New Money
5.55%$5k-18 Month Promotional CD - New Money
5.25%$5k-2 Year Promotional CD - New Money
5.00%$5k-3 Year Promotional CD - New Money

The Federal Savings Bank Locations
The Federal Savings Bank4000 W Diversey AveChicago, IL 60639
Deerpath Branch664 N Western AveLake Forest, IL 60045

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