Banking Rates & News

Chicago Metro Area

Including Chicago, Naperville, Schaumburg, Joliet, Aurora, Orland Park, Valparaiso, Hammond, Elgin, Oak Lawn, and 320 other towns.

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Banking in the Chicago Area

Chicago is the third largest city in America. It has a large, vibrant, diverse economy with multiple Fortune 500 companies and a massive finance sector. The Chicago Board of Trade is the second largest center for public market trading in the country. There are also an array of investment houses and a large number of high net worth individuals living in the city. Other large sectors include real estate, conventions, hospitality, manufacturing, logistics, transportation, technology, pharmaceuticals, education, health care and advertising. These sectors continue to build on one another to power the economy. For that reason, banking is thriving in Chicago with an array of services and financial options offered.

Chicago's nearby neighbors include Naperville, Aurora, Schaumburg, Joliet and Skokie. There are nearly 200 banks and 200 credit unions that are headquartered in Chicago. Some of the largest Chicago based banks include The Northern Trust Company, BMO Harris Bank and MB Financial Bank. Every major US bank has operations in Chicago including Wells Fargo, Bank of America, Citibank and JP Morgan. Many international banks even have a presence including HSBC, UBS, and Barclays. In total, there are about 4,060 branches from more than 270 banks and 240 credit unions in Chicago.

The city continues to grow and thrive. Even though the municipal government's finances are in jeopardy, the private sector is faring well. Banking will continue to excel as long as the rest of the city grows.

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Local Deals & News

State Bank Of India IL 5 Year CD, Another Bump. Quick Look.
Just like two weeks ago, State Bank Of India Illinois raised the APY on its' competitive 5year CD today (Thursday, 8-10-17). This time the increase was 10bps (from 2.38%) to
1.51% 15-Month CD Special In Chicago
Ad in yesterday’s Chicago Tribune. 15-month is a nice improvement from May’s 13-month special: 1.51% APY 15mo CD special 1.86% APY 48mo CD special $5,000 minimum deposit 2 Chicagoland locations
Navy Fed’s New Special Certificate: 3.00% APY 5-Month ($10K Max)
Deal Summary: 3% APY 5-month add-on CD, Maximum deposit $10k. Availability: Requires a connection to the military. Navy Federal Credit Union’s (Navy Fed) has come out with another high-rate add-on
3% 5 Month Taxable CD - $10K Max
my understanding is that this is for taxable accounts only. Very short term, but better than money market rates.
First Bank & Trust (IL) Ups 14-Month Jumbo CD Special (1.73% APY)
Deal Summary: 14-month Jumbo CD Special, 1.73% APY, $100k minimum; 14-month CD Special, 1.60% APY, $1k minimum deposit. Availability: Market area is Chicago’s metropolitan area (Chicagoland). I first reported on
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