- I Need to…
Will County Treasurer Steve Weber is committed to the concept of Local Direct Investment by keeping as much money on deposit with local banks as possible. By providing local banks with deposits, the county provides a stable source of money that banks can then lend to individuals, local businesses, industry and entrepreneurs.
Deposits as of December 1, 2011
The following table is a snapshot of the money we deposit in local banks. These deposits include checking accounts, CDs and other time deposits, and investment trust accounts.
|First American Bank||Elk Grove Village, IL||$ 12,051,000|
|First Community Bank||Joliet, IL||$ 9,500,055|
|First Midwest Bank||Itasca, IL||$ 133,957,960|
|First United Bank||Crete, IL||$ 4,001,510|
|MB Financial Bank||Chicago, IL||$ 51,403,670|
|The Private Bank & Trust||Chicago, IL||$ 29,102,942|
|State Bank of Illinois||West Chicago, IL||$ 1,400,050|
A Note on Depository Limits
The amount of money we keep in a bank has little to do with a bank’s health or safety. Illinois law sets limits on the amount of money a public body, such as Will County, can deposit with a bank or credit union. Basically, the larger the bank, the more we can deposit. As a result, smaller community banks have less money than larger regional banks.
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