How To Obtain a Savings Bank/Savings and Loan Charter

How to obtain a savings bank charter:

Not fewer than 5 nor more than 20 persons may organize a savings bank. The institution must have capital sufficient to be able to obtain federal deposit insurance coverage. The filing fee is $1,000. For additional information phone 217-785-2900.

How to obtain a savings and loan charter:

Any 5 or more adult individuals, residents of this State, may apply for permit to organize an association. The institution must have capital sufficient to be able to obtain federal deposit insurance coverage. The filing fee is $1,000. For additional information phone 217-785-2900.