Community Savings Bank

What Community Savings Bank does

Community Savings Bank is a traditional mutual savings bank headquartered at 4801 W. Belmont Avenue in Chicago, Illinois, serving local residents of the Portage Park, Hermosa, and Belmont Cragin neighborhoods through deposit accounts, mortgage and home equity lending, and bilingual (English, Spanish, Polish) relationship banking. Founded in 1944 and operating from the same location for over 75 years under continuous family-influenced leadership (Dane H. Cleven serves as President, Chairman, and CEO), the bank sells a full suite of deposit products (checking, savings, money market, CDs, IRAs, Christmas Club, Junior Savers, Home Buyers Certificate), lending products (conventional mortgages, Pay-O-Matic, CHIP, CHOP home equity, passbook loans), and ancillary services including safe deposit boxes, Direct to Mexico remittances, and wire transfers.

The bank's digital layer is delivered entirely through third-party technology, with Fiserv powering the CSB Chicago Mobile Banking application, online banking at web1.secureinternetbank.com, and core features including mobile deposit capture, Zelle peer-to-peer payments, TransferNow, eStatements, bill pay, Notifi alerts, and digital card management. Telephone banking is offered 24/7 through the Total Service Connection system with a Spanish-language option, and physical service channels include a main lobby, express lobby, walk-up windows, and extended-hour drive-through facilities at the Chicago headquarters. The bank's products are complemented by two wholly-owned non-bank subsidiaries (Community Safe Deposit Vault Company and Community Insurance Agency) and CRA-aligned community programs targeting low-to-moderate-income and first-time homebuyer households.

Revenue is generated primarily through net interest income from residential mortgage and home equity lending, plus transaction-based fee income from deposit account services, wire transfers, safe deposit boxes, and the tiered Direct to Mexico remittance service ($7-$28 per transaction). Distribution is purely direct: physical branches, in-house loan officers with NMLS identifiers, and a multilingual outreach function conducting home-buying seminars. The bank is currently converting from mutual to stock form of organization through parent holding company CSB Financial Inc. (NASDAQ:CSBF), with a stock offering under Registration Statement on Form S-1 (No. 333-294289) and prospectus dated May 14, 2026, and opened its first non-Chicago branch in downtown Cedar Rapids, Iowa on December 9, 2025.

Name

Community Savings Bank

Legal name

Community Savings Bank

Website

https://communitysavingsbank.bank

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking
• Retail banking
• Deposit accounts
• Consumer lending
• Digital banking

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Lending: Traditional banking revenue generated from mortgage lending, home equity loans, personal loans, and commercial lending activities. The bank offers various loan products including conventional mortgages, Pay-O-Matic loans, CHIP home equity programs, CHOP loans, and passbook loans.
2. Deposit Services and Fees: Revenue from deposit account services including checking accounts, savings accounts, money market accounts, certificates of deposit, IRAs, and Christmas Club accounts. Minimum balance requirements: savings accounts require $100 minimum, checking accounts require $400 minimum.
3. Service Charges and Other Fees: Fee income from services such as wire transfers, safe deposit boxes, direct deposit services, bill payment, and other banking services. The bank also offers Direct to Mexico money transfer services with fees ranging from $7 to $28 depending on transfer amount.
4. Digital Banking Services: Revenue generated from digital banking platform usage including mobile banking, online banking, Zelle transfers, and electronic statement delivery.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Community Savings Bank is a community bank headquartered in Chicago, Illinois that provides traditional retail banking services to consumers and local businesses. Its core offerings include deposit products, consumer and commercial lending products, and digital banking channels. The bank is currently undertaking a mutual-to-stock conversion and is controlled by CSB Financial, Inc.

Product overview

Community Savings Bank is a traditional community bank offering a comprehensive suite of deposit, lending, and digital banking products and services. The core banking products include checking and savings accounts, certificates of deposit (including IRAs), mortgages, and home equity products. Digital banking services are powered by Fiserv and include online banking, mobile banking (CSB Chicago Mobile Banking app), Zelle peer-to-peer payments, bill pay, mobile deposit capture, and financial calculators. The bank also provides additional services such as safe deposit boxes, direct deposit, telephone banking, and international money transfer (Direct to Mexico).

Differentiator

Problem solved

Functional benefit

Products and services

• Deposit Products Standard retail deposit products offered to consumers and local customers, serving individuals and small businesses in the Chicago community.
• Lending Products Consumer and commercial loan products provided to individuals and local businesses in the bank's Chicago service area.
• Digital Banking Online and digital banking channels that support the bank's deposit and lending services for consumer and small business customers.

Quantifiable outcome

• Community reinvestment activities supporting local neighborhoods through CRA compliance programs

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Portage Park Chamber of CommercecoreStrategic or Co-development PartnerActive community partnership for local events including the Portage Park Farmer's Market, vintage car shows, and community activities. Community Savings Bank participates as a vendor/supporter at chamber events.
• Hermosa Belmont Cragin Chamber of CommercecoreStrategic or Co-development PartnerCo-host of the annual Classic Car Show and Fall Festival event. Partnership for community engagement and local business collaboration.
• Little Sweet Peas VintageminorStrategic or Co-development PartnerLocal business partnership for community food drive initiative. Little Sweet Peas Vintage served as a drop-off location for the Portage Park Chamber of Commerce food drive in partnership with Community Savings Bank.
• Northwest CenterminorStrategic or Co-development PartnerCommunity organization that received turkey donations from Community Savings Bank for Thanksgiving distribution to families in need (6 turkeys distributed).
• U-Turn Covenant ChurchminorStrategic or Co-development PartnerLocal church organization that received turkey donations from Community Savings Bank for Thanksgiving distribution to families in need (10 turkeys distributed).
• FiservcoreTechnology or IntegrationTechnology provider powering the CSB Chicago Mobile Banking application. Fiserv provides the mobile banking infrastructure enabling real-time balances, transfers, bill payment, mobile deposits, and card management features.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• North Side Federal Credit Union: Chicago-based community credit union serving residents and employees in the Chicago metropolitan area, comparable in scale, deposit-product mix, and CRA-style community mission.
• Self-Help Federal Credit Union: Community development credit union serving underserved Chicago-area neighborhoods with bilingual service, comparable CRA-lending focus and first-time homebuyer programs.
• South Side Community Federal Credit Union: Community development credit union serving Chicago's south side with deposit accounts and first-time homebuyer lending, directly comparable in mission, scale, and community focus.

Broad incumbents

• BCU (Baxter Credit Union): Large Midwestern credit union offering full-service consumer banking including deposits, mortgages, and digital banking, overlapping with Community Savings Bank's product set on a much larger scale.
• Alliant Credit Union: Major US credit union headquartered in Chicago offering consumer deposits, mortgages, and digital banking nationally; comparable product set, larger scale, and similar Chicago operating base.
• Wintrust Community Banking Branches: Chicago-area community banking franchise of Wintrust Financial operating multiple neighborhood-focused branches offering deposits, mortgages, and small business banking, directly competitive with Community Savings Bank in the same Chicago neighborhoods.
• Libertyville Bank & Trust (Wintrust): Suburban Chicago community bank under Wintrust, comparable deposit-product suite and CRA community banking model serving Illinois households.

Regional players

• Great Lakes Credit Union: Illinois-based member-owned credit union offering deposit, mortgage, and community-focused banking products; comparable in geographic concentration in Illinois and member-owned structure.
• Bridgeview Bank Group: Chicagoland-based community banking group serving multicultural communities in the Chicago metro with deposit, mortgage, and personal banking products comparable to Community Savings Bank's offering.

Others

• Fiserv (technology peer for digital banking): Core technology provider for Community Savings Bank's mobile and online banking platform; included as an enabling infrastructure peer rather than a direct competitor, highlighting the bank's dependency on this vendor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/csb_chicago
• Facebookfacebook.com/CommunitySavingsBankChicago
• LinkedInlinkedin.com/company/community-savings-bank-chicago
• Instagraminstagram.com/csb.chicago

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Community Savings Bank