The Federal Savings Bank

Name:The Federal Savings Bank
Full Service Brick and Mortar Office
Main Office of the Bank
Review:3 client reviews
Location:300 North Elizabeth Street, Floor 3e
Chicago, IL 60607

Cook County
 
Phone:913-428-4191
FDIC Cert:#35518
Established:2000-07-03


The Bank

Name:The Federal Savings Bank
Concentration:Mortgage Lending Specialization
Established:2000-07-03
FDIC Insurance:2000-07-03
Charter Class:Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
# of Branches:2, view all, view on map
Website:www.thefederalsavingsbank.com
Total Assets:$209,287,000
Total Deposits:$170,124,000
Total Equity Capital:$25,165,000
Total Domestic Office Deposits:$170,124,000
Net Income:$1,038,000
Quarterly Net Income:$1,013,000
Return on Assets:1%
Quarterly Return on Assets:2%
Return on Equity:6%
Quarterly Return on Equity:16%
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Client Review

3 client reviews of The Federal Savings Bank scored 2 out of 5.

Horrendous, exhausting, energy and resources-depleting experience
Overall Rating
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
by Aya1, Apr. 03, 2013

We're on our SIXTH month of submitting, resubmitting, and supplementing the submission of documents.  The quoted rate was great--six months ago.  Now the deadline has passed and our "no costs down" loan requires that we buy into a HIGHER rate.

Customer service is horrendous.  "Couple of days" means "within a week or two" and the projected closing is no way in sight.

The abusive emails from their VP actually lead me to believe he wants us to take our business elsewhere (which was implied within the email) so he can wash his hands off us.

AVOID!

* this reviewer has be with this bank for 6 months - 1 year
* this reviewer had 6 - 10 banks before.
* this review was made on The Federal Savings Bank, The Federal Savings Bank at Overland Park, KS
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Do not use this bank
Overall Rating
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
by Johnkim, Mar. 01, 2013

Informed that we did not qualify 3 days before closing. Loan officer was fired. Total lack of knowledge regarding our loan. We finally were able to qualify on our base pay after jumping through hoops that we would have gladly done had we been informed. Lived in a hotel incurring over 4 k in bills. Only stayed with them because we had no other choice. Most stressful experience of our lives

* this reviewer has be with this bank for <6 months
* this reviewer had 1 - 2 banks before.
* this review was made on The Federal Savings Bank, The Federal Savings Bank at Overland Park, KS
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VA Loan with FSB
Overall Rating
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
by Luigi, Jan. 04, 2013

The VA loan process was not bad with minimal issues and delays. The rate was great and the sale person was great. It took 2 months for our loan to be moved/re-sold over to chase and during those two month we made payments to FSB using the temporary stubs they provided. Now with Chase our loan amount does not seem to reflect our payments made to FSB. We contacted and left messages for the department that handels the loan transfer process at FSB and have yet to receive a call back.

* this reviewer has be with this bank for <6 months
* this reviewer had 3 - 5 banks before.
* this review was made on The Federal Savings Bank, The Federal Savings Bank at Overland Park, KS
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