First East Side Savings Bank Rates & Review

First East Side Savings Bank Review

First East Side Savings Bank provides personal banking, business banking and home mortgage services. While the name of the bank reflects its Chicago origins, the bank is now headquartered in Florida.

The bank was founded in Chicago in 1920. In the 1980s, according to the bank's website, the bank developed a loan origination program in southeastern Florida, and in April 2003, the Bank opened a branch facility in Florida to serve its growing clientele there. In 2007, the Bank sold its branch location in Chicago and relocated its headquarters to Tamarac, Florida.

Personal banking

Personal banking customers can choose from a variety of checking account options. Reward Checking earns interest free of monthly maintenance fees for customers who fulfill certain requirements, including a regular direct deposit or automatic withdrawal, plus a minimum number of debit card transactions per month.

For this account, First East Side Savings Bank provides free online banking and bill pay, electronic statements, and refunds for other banks' ATM fees up to certain limits. A savings account, a money market account, CDs, and IRAs are available.

Business banking

First East Side Savings Bank provides a variety of business checking and savings account. 1st Choice Plus Business Checking is for companies with moderate transaction activity. This account provides free processed items per month up to a certain limit, free online banking with bill pay, a personal checking account, electronic statements, remote deposit and a discount on the merchant services set-up fee.

Loans and credit lines

This bank provides fixed-rate and adjustable-rate home mortgages along with home equity lines of credit.

Deposit insurance

First East Side Savings Bank is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.