Mutual Bank - Bank History

Rupee Remittance to India

International Banking

Professional Rehab Loans

Personal Loans

Construction Loans

Commercial Loans

Not for Profit / Faith Based Loans

	About Us Home
	Bank History
	Mission Statement
	Board of Directors
	Community Links

The origin of Mutual Bank can be traced to June 6, 1962 when it was first established as a State Chartered Financial Institution. Mutual Bank is a progressive, well-capitalized institution with more than $1.5 billion in assets. Over the past five years, the bank has seen phenomenal growth and expansion. Mutual Bank's strengths lie in its diversely experienced banker's commitment to providing attentive, results-oriented services and its conveniently located banking centers and ATMs serving the Chicagoland area.

The following is a brief timeline of Mutual Bank:

June 6, 1962:	Established as a State Chartered Financial Institution and named First State Bank of Harvey.
Dec. 1962:	Celebrated its grand opening under the stewardship of a Board of Directors that included prominent local businessmen and community leaders.
Year 1979:	Decision to move the bank’s premises to its current location at 16540 S. Halsted St. Harvey, IL.
June 1979:	Bank name changed to “Mutual Trust and Savings Bank”
Nov. 3, 1994:	Name changed again to “Mutual Bank”
August 1998:	Bank purchased by Mr. Pethinaidu Veluchamy. Mr. Amrish Mahajan named as the CEO and President.
Dec.18, 2000:	Opened banking center at 6335 N. Western Avenue, Chicago, IL 60659.
Feb. 12, 2001:	Opened banking center at 801 E. Nerge Road, Roselle, IL 60172.
June 8, 2001:	Opened banking center at 298 W. North Avenue, Villa Park, IL 60181.
Feb. 7, 2004:	Mutual Bank and Security Bank of DuPage agreed to merge under the unified name of Mutual Bank. The transaction was carried out to ensure a stronger financial institution keeping in mind the best interests of shareholders, customers and communities served.
Mar 24, 2007:	Mutual Bank acquired two branches of Northfield Savings Bank at Staten Island, New York and Edison, New Jersey. The new branches are a further step in the Banks’ progress towards a new era of growth and providing greater convenience and accessibility to its customers.
Aug 7, 2007:	Opened banking center at 5711 Hillcroft, Suite A1, Houston, TX 77036.
Aug 29, 2007:	Opened Banking Center at 3999 West 75th Street, Aurora, IL 60504.


			More about what we offer individuals and families >>		More about what we offer large and small businesses >>