Savings & Investments

Passbook Savings

Earn a market rate of interest on your savings with the security of a passbook! You can open your account with any balance of $500 or more, and there is no service fee when you maintain our low minimum balance requirement. If your balance falls below the minimum during any month, a small fee will be assessed for that month only.

The interest rate is set by the Bank periodically and may change with market conditions. Interest is compounded and paid to your account quarterly. You can make deposits to your account and you can withdraw funds in person at any time during banking hours.

If you want to earn interest while maintaining passbook-secured access to your money, use this convenient account!

Statement Savings

If you prefer the flexibility of banking without a passbook, consider our Statement Savings Account. It pays the rate of interest as our Passbook Saving Account, with a minimum opening balance of just $100.

Because the passbook is replaced by a 'savings register', you can make deposits and withdrawals at any time even if you don't have your register with you, and there is no monthly service fee when you maintain the required minimum balance. Should your balance fall below the minimum during any month, you will be charged a small service fee for that month only.

You can also make transfers from your Statement Savings Account using preauthorized, automatic, or telephone transfer. It's the easiest way to earn interest on your savings!

Global Premier Savings

The Global Premier Savings pays the highest interest rate of all the Savings accounts. Its minimum balance is $2,500, but the customer must maintain a balance of $15,000 or more every day of the cycle in order to obtain the annual percentage yield. This account does not provide any free services that are offered through the VIP savings account, but it pays a premium rate for those customers that want both high yield and flexibility to deposit and withdraw funds any time.

Money Market Account

For larger balances, you can earn a higher rate of interest with our Money Market Account. Your minimum opening deposit of $100 allows you to earn a higher rate than with our traditional savings accounts, and interest is paid monthly.

You can deposit or withdraw funds at any time, and avoid any monthly maintenance fee by maintaining our required minimum balance. If your balance falls below the minimum in any statement cycle, your account will be charged a maintenance fee for that statement period only. Withdrawals can be made in person or through transfers to another account or to a third party at no charge for up to six per statement cycle (or three to third parties).

Your interest rate and annual percentage yield are set by the Bank, and may change periodically with market conditions.

Certificates of Deposit

You can earn a guaranteed premium rate of interest on your funds with our Certificates of Deposit. They are available in terms from 30 days up to 10 years, and the minimum investment amount and interest rate vary with the term you choose.

Once you open your Certificate, your interest rate and annual percentage yield are guaranteed for the full term you've selected. There is no risk when you invest in a Certificate of Deposit, because each depositor is protected by the safety of FDIC insurance, up to $100,000. A substantial interest penalty applies to premature withdrawals from this time deposit account.

For current rates and terms on our high interest Certificate of Deposit, stop by the Bank or call us at 312-225-2323.

VIP Savings

When you maintain an established minimum savings account balance with the Bank, you qualify for important benefits that reward your relationship with us. With our VIP Savings you'll receive:

• Premium interest rate which increases with your account balance
• No-fee travelers checks, cashier's checks and money orders
• Interest discount on non-mortgage loan rates
• Free automatic transfer from savings to checking for overdraft protection (6 monthly)
• 15% Safe Deposit Box discount
• ¼% CD rate bonus (one-time use)
• Plus a variety of other free services.

VIP Savings gives you the benefits of our prime banking services at significant savings. Talk with one of our Account Executives for more information on how to qualify.

Individual Retirement Account

You may be able to build your retirement nest egg with tax-deferred savings in an Individual Retirement Account. All funds deposited in your IRA (either a savings account or a certificate of deposit) earn a competitive rate of interest, which compounds on a tax-deferred basis-if you qualify under government rules, you pay no taxes on the interest you earn until you withdraw the funds. This allows your retirement savings to grow much faster than would a taxable investment at a similar interest rate.

Depending on your income and participation in other retirement plans, some or all of the funds you deposit in an IRA may also qualify for a tax deduction in the year you make the investment. Talk with your tax advisor for details about your situation. *

The IRA is an excellent way to save for your future retirement. Ask one of our Account Executives how he/she can help you.

*Federal regulations require a penalty for making withdrawals before the age of 59 ½, and, for certificates of deposit, there is a substantial penalty for withdrawal of funds from the certificate prior to maturity.

Children's Savings Account

Any young person under the age of 16 can open our Children's Savings Account with a minimum deposit of just $10 and be on the way to learning the value of saving. There is no minimum balance requirement and no monthly maintenance fee!

All funds deposited in a Children's Savings Account earns a competitive rate of interest. Start your favorite young person on the road to good financial habits with this account.

Click here to view our checking and savings table.