BE 100S QUICK LOOK: Illinois Service Federal (ISF Bank)

BE 100S QUICK LOOK: Illinois Service Federal (ISF Bank) Is America’s Largest Black-Owned Bank

Illinois Service Federal
ISF Bank board meeting. (Facebook)

The “BE 100s” is Black Enterprise‘s annual listing of the nation’s largest and most successful black-owned businesses. “Quick Looks” provides snapshot information on these companies. These business are current and/or former BE 100s companies. 

Illinois Service Federal (ISF Bank) 

Founded in 1934, Chicago-based Illinois Service Federal Savings (ISF Bank) is the oldest and second largest black-owned bank in the state. The bank opened its first office in a one-room storefront with deposits of $7,000. More than 75 years later, the bank serves more than 14,000 customers and has assets of more than $143 million dollars.  The firm specializes in mortgage, personal, automotive, small business, and home equity loans.

As of 2017, Illinois Service Federal Savings & Loan Association listed 11th out of 15 of the largest black-owned banks in the nation. The company has 24 employees and total assets of $105.7 M.

Check out the entire list of the 2017 BE 100s. 

Editor’s Note: This article was updated in April 2017.