President's Letter

Dear Friends,

This fall Community will celebrate its 80th anniversary of serving area residents since our doors opened in 1944. When the bank first opened it was in a store front just north of Belmont Avenue. It moved to its current location on the corner in 1953. All services continue to be provided from the main office and drive thru. Community is managed locally, and all decisions are made by local management. Community remains independent and mutually owned.

The bank opened to help area residents own homes and save for the future. Those goals remain the same today. Community offers a variety of deposit accounts which pay competitive rates. Personal service from the bank’s experienced and knowledgeable staff, many of whom are bilingual in English and Spanish or English and Polish, helps provide extra value. Many no-fee services are offered, which makes banking here affordable.

Community also makes mortgage loans. As a portfolio lender, the bank owns all of the loans it makes, which is helpful for borrowers when questions arise. Though interest rates are higher than during the pandemic, they are relatively low by historical standards. If you are in the market for buying a home or borrowing against the equity in your home, give our loan department a call. Community also makes mortgage loans on multifamily residences owned as investments.

Banking has changed in the last 80 years. Community has kept up with the times by offering safe mobile and online electronic banking through our app and website. Traditional telephone banking and several surcharge-free ATM networks are more benefits of being a Community customer. In-person banking services, including passbook savings accounts–which are a rarity in today’s banking world–are also still available. 
You have the choice to bank how you’d like.

Community is very well capitalized and all deposits are insured by the FDIC according to its rules and regulations. Savings at Community are sound, secure, and stable.

Community will celebrate its 80th anniversary during the bank’s annual Customer Appreciation Days. Customer Appreciation Days will be held on October 18 and 19 at the main office. I hope you have an opportunity to stop in.

If you bank with Community, we appreciate your patronage. If you don’t we invite you to give Community an opportunity to serve as Your Personal Neighborhood Bank.

Sincerely,

Dane H. Cleven, President and Chairman

Community Savings Bank, Chicago