Fox Valley Area and Your Money

By
Real Estate Agent with Charles Rutenberg Realty of Illinois

Fox Valley Area Banks and Your Money

Is it too late to put the money back under my mattress?   Your best bet is to still shop around when looking for good deals on money markets, checking accounts and mortgage rates.  Your corner bank may have a better rate, but may not be around when you need them.

I found a useful tool on the internet recently when I was curious as to how local banks in the Fox Valley area shape up compared to the rest of the country. 

http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx

A few local banks I thought of included Harris, First American Bank, Elgin State Bank and West Suburban Bank.  All the banks I found were ranked on BankRate's star system, Safe and Sound, with 5 stars being the Superior rank, 4-Sound, 3-Performing, 2-Below peer group and 1-Lowest rated.

Here's what I found in Illinois:

Elgin State Bank on Randall Rd and Hopps St, has 3 stars/Performing.

Harris got 5 stars/Superior for Central National and 3 stars/Performing for Harris National Association.

First American Bank ranked at 2 stars/Below Peer Group for its Illinois location at 60110.

And Western Suburban Bank rated at 3 stars/Performing but they are apparently doing better than the larger First American Bank franchise.

There are just over 40 banks in Illinois that ranked 5 stars according to BankRate, so there are plenty more local banks that are not top notch, according to this system.   I'd do some extra homework on BankRate and find out who the best and leave the rest.

 www.ElginFoxValley.com
Jennifer Kinzle, E-Pro Realtor
Keller Williams Fox Valley
Twitter @jkinzle

 

Posted by

Jennifer Kinzle
Charles Rutenberg Realty, e-Pro 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Illinois
Groups:
Realtors®
Keller Williams 'Rainers
Posts to Localism
Chicagoland and Northern Illinois Real Estate
Tags:
money
rates
banks
lenders
local
mortgage

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
111,723

Jennifer Kinzle

Top Rated Kane County Agent!
Ask me a question
*
*
*
*
Spam prevention