Illinois Service Federal Savings and Loan Association

Thirteen African-American men, and their many supporters, had a dream to establish a savings and loan association sensitive to the needs of Black residents of Chicago. Their persistence paid-off when in 1934, Illinois Service Federal was founded. The doors opened to a one-room office with deposits of $7,000. The first few depositors had balances ranging from four to fifty dollars. As assets grew, so did our ability to help the local communities grow and prosper. Illinois Service Federal Savings and Loan Association today serves over 14,000 customers and has assets of more than $133 million dollars.