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International Bank of Chicago (IBC) wants to ensure that all of its customers have convenient and reliable access to a wide range of banking products, as well as the opportunity to reach their financial objectives- whether it is to start a business, purchase a home or open a checking or savings account.

Indeed, many of the residents and business owners with whom IBC does business have had limited access to full service financial institutions, and have conducted a majority of their financial transactions at currency exchanges, pay-day loan centers and money shops, often paying exorbitant check cashing fees and interest rates.

The communities that IBC serves have high minority, immigrant and refugee populations, and many of the residents and business owners face a variety of challenges including poor credit histories, a lack of financial resources and insufficient knowledge of financial issues. International Bank of Chicago has attempted to respond to the many needs of these individuals by providing safe and affordable financial products, offering valuable financial seminars, helping to prevent predatory lending and re-investing capital into the community in order to build sustainable and self-sufficient.


 
Regular Checking Minimum Opening Deposit of $500 Required
No Monthly Service Charge with $500 Minimum Balance
Free Direct Deposit
Free First Order of Paper Checks
Master Debit Card Available

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NOW Accounts Minimum Opening Deposit of $1,000 Required
No Monthly Service Charge with $1,000 Minimum Balance
Free Direct Deposit
Free First Order of Paper Checks
Master Debit Card Available

*Corporations or other profit organizations cannot have NOW accounts

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IBC Account Minimum Opening Deposit of $5,000 Required
No Monthly Service Charge with $5,000 Minimum Balance
Free Direct Deposit
Free First Order of Paper Checks
Master Debit Card Available

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Savings Account Minimum Opening Deposit of $200 Required
No Monthly Service Charge with $200 minimum balance
Free Direct Deposit
Limited to 6 Withdrawals per month

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Money Market Minimum Opening Deposit of $2,500 Required
No Monthly Service Charge with $2,500 Minimum Balance
Free Direct Deposit
Free First Order of Paper Checks

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Business Checking Minimum Opening Deposit of $1,000 Required
Free First Order of Paper Checks (50 Checks/40 Deposit Slips)
Lock Box Service Available

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ETA Accounts
These are low cost electronic transfer accounts. IBC customers can have their Social Security checks, veteran’s benefits and other federal monies automatically deposited into their checking or savings accounts.
Read More

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Certificate of Deposit Minimum Opening Deposit of $10,000 Required
More information about Terms and Interest Rates can be found in the Rates Page

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SBA Loans
The Small Business Administration (SBA), established in 1953 under President Eisenhower, works with private lenders as well as a variety of regional nonprofit groups, to make business loans for various small business uses. Since its inception, the SBA has helped make billions in loans, more than any other single lender in the country during that time. Our SBA business borrowers benefit in that generally: (1) qualifying standards are more flexible than other types of conventional loans; (2) less of your own money is needed to get an SBA loan; and (3) longer loan terms ( 7 to 25 years, avoiding untimely large balloon payments or calls). Currently, there are two main programs which the International Bank of Chicago offers.

Contacts:
Stone Park Branch Nino Pellettieri Tel.(708) 410-2899 Fax (708) 410-2686
Stone Park Branch John Benik Tel.(708) 410-2899 Fax (708) 410-2686

Read More About SBA 7(a) Term Loan
Read More About SBA 504 Term Loan
Read More About SBA Checklist

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Loan Programs
International Bank of Chicago offers many different types of loans to its residential and commercial customers. These include SBA and state loans to small, minority-owned start-up businesses, as well as consumer, construction, first-time home buyer, commercial drafts, commercial loans and commercial real estate loans.

Contacts:
Main Office: Many Quach and Alice Chu Tel.(773) 769-2899 Fax (773) 769-2686
Stone Park Branch George Anderson Tel.(708) 410-2899 Fax (708) 410-2686

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