- Office of the State Treasurer
- Jefferson Terrace, 300 West Jefferson St. 2nd Floor
- Chicago, IL 60601
- Phone: (217) 782-2072
Purpose of the Program
The Treasurer’s Office provides low-cost liquidity to banks, credit unions and savings and loan institutions located in Illinois through the Access to Capital program. The goal is to provide an additional source of funding for Illinois financial institutions during the current economic and market conditions.
Who is Eligible
Eligible institutions include banks, savings and loans, and credit unions. The prospective financial institution must be approved as a state depository.
The prospective financial institution must meet rating criteria from IDC Financial, the Treasurer’s rating service.
If your financial institution is not currently an approved depository, contact the Banking Division at (217) 782-2072 for information on how to become approved.
Fax a letter on your institution’s letterhead to (217) 522-1217 and include the deposit request amount and your preferred maturity terms. The interest rate on the time deposit will be confirmed one business day prior to the deposit date.
Availability of Funds
Amounts and Terms:
Financial institutions can receive up to $25 million; the maximum deposit term is one year; if the total state deposits are in excess of $250,000, the financial institution will be required to pledge collateral.
Types of Assistance
Year Program was established