North Side Federal

What North Side Federal does

North Side Federal is a federally chartered savings association headquartered in Chicago, Illinois, operating as a mutual community bank for approximately eighty years since founding in the late 1930s. The institution serves both individual consumers and small-to-medium businesses in the Chicago market through a horizontal product portfolio spanning checking, savings and certificates of deposit, retirement accounts, personal mortgages, and business loans. As a mutual institution, it is owned by its depositors rather than public shareholders, and is regulated by the Office of the Comptroller of the Currency under federal savings association rules.

The bank's technology footprint is limited to conventional digital banking channels — a web-based online banking portal and a mobile banking application — alongside its physical branch presence for in-person service. Distribution is augmented by a partnership with the Allpoint Network, which extends surcharge-free ATM access to 55,000 machines worldwide. The core technology layer is described as a standard digital banking platform with no proprietary features, no APIs, and no disclosed integrations beyond the Allpoint arrangement.

Revenue is generated through two primary streams: net interest income from the lending book (mortgages, business loans, and consumer credit products) plus interest earned on deposits, and non-interest fee income from deposit accounts, debit cards, ATM surcharges on non-network machines, and ancillary account services such as check reordering. The bank does not publicly disclose pricing or rate information, directing customers to a dedicated rates and disclosures page. Go-to-market is community-led and direct-to-consumer, relying on the physical branch, local word-of-mouth, and a minimal social media presence on Facebook, Google+, and Yelp rather than digital acquisition channels.

Name

North Side Federal

Legal name

North Side Federal

Website

https://northsidefederal.com

Company type

Private

Founded year

1937

Operating status

Operating

Headcount range

11–50 employees

Short description

North Side Federal is a federally chartered mutual savings association in Chicago serving individual consumers and small-to-medium businesses with checking, savings, CDs, retirement accounts, mortgages, and business loans through a single branch plus online and mobile banking channels.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

Keywords

• Community banking services
• Savings accounts
• Mortgage lending
• Business loans
• Certificate of deposits

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Traditional bank revenue from interest charged on loans including personal mortgages, business loans, and other credit products. Interest earned on savings accounts and CDs also contributes to revenue.
2. Deposit and Service Fees: Fee income from checking accounts, debit cards, ATM usage (surcharge fees from non-network ATMs), and other account services including check reordering.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

North Side Federal is a federally chartered savings association providing personal and business banking products and services. Its portfolio spans personal checking, savings and CDs, retirement accounts, and home mortgages alongside business checking, savings and CDs, retirement accounts, and commercial loans. Account services include online banking, mobile banking, debit/ATM cards, and check reordering, supported by access to the Allpoint surcharge-free ATM network.

Product overview

North Side Federal is a traditional community bank offering a unified set of banking products and services. The portfolio consists of personal banking products (Checking, Savings and CDs, Retirement, Personal Mortgages) and business banking products (Checking, Savings and CDs, Retirement, Business Loans), supported by account services including Online Banking, Mobile Banking, and Debit/ATM Cards. The bank positions itself as a local alternative emphasizing community presence in Chicago with 80 years of service history.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Personal checking account services for individual retail banking customers.
• Personal Savings and CDs Savings accounts and Certificate of Deposit products for personal banking customers.
• Personal Retirement Retirement account products including IRAs for individual customers.
• Personal Mortgages Home mortgage loans for new purchase and refinance with local underwriting.
• Business Checking Business checking account services for commercial customers.
• Business Savings and CDs Savings accounts and Certificate of Deposit products for business customers.
• Business Retirement Retirement account products for business owners and their employees.
• Business Loans Commercial lending products for small and medium-sized businesses.
• Online Banking Web-based banking platform enabling account access, transactions, transfers, and bill pay via browser.
• Mobile Banking Mobile application banking service enabling account access and management from mobile devices.
• Debit and ATM Cards Debit card and ATM card services with access to surcharge-free ATMs through the Allpoint network.
• Check Reordering Service for ordering replacement or additional checks for account holders.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Allpoint NetworkcoreTechnology or IntegrationPartnership with Allpoint Network provides North Side Federal customers access to 55,000 surcharge-free ATMs worldwide. This network integration enhances the bank's digital banking offering and provides significant value to customers who travel or prefer ATM access over branch banking.

Scale indicators2 records

Recent moves1 record

Expansion highlights2 records

Broad incumbents

• Fifth Third Bank: Large regional bank with a substantial Chicago and Midwest branch footprint offering consumer and commercial banking. Comparable as a broad Midwest incumbent competing for personal and small-business customers, though operating at materially greater scale.
• BMO Harris Bank: Major U.S. subsidiary of BMO Financial Group with deep Chicago roots offering full-scale consumer and commercial banking. Comparable as a broad incumbent competing for the same Chicago personal and small-business customers, but with significantly larger scale and product breadth.
• JPMorgan Chase (Chicago): Largest U.S. bank with a significant Chicago retail, mortgage, and small-business presence. Comparable as the dominant broad incumbent competing for the same deposit, mortgage, and SMB relationships, but with materially greater scale and digital resources.

Direct peers

• Wintrust Financial Corporation: Chicago-area community banking holding company operating a network of community banks and specialty finance businesses. Closely comparable as a Chicago-rooted, relationship-driven banking franchise serving personal and small-business customers with local decision-making.
• First Bank Chicago: Independent Chicago community bank offering personal and business banking products. Comparable as a small, locally-headquartered community bank with overlapping personal and commercial deposit and lending services.
• Old Second Bancorp: Chicago-area community bank providing personal and commercial banking, mortgages, and treasury services. Directly comparable as a community-rooted Illinois bank serving similar personal and small-business customer segments.
• Bridgeview Bank Group: Independent Chicago community bank serving personal and business customers with deposit accounts, loans, and digital banking. Comparable as a similarly-sized, locally-headquartered Chicago community bank with overlapping product set.
• Byline Bancorp: Chicago-based community bank offering personal and business deposit, lending, and treasury products. Comparable in size, geography, and customer mix to North Side Federal, with a similar focus on small-business and consumer banking in the Chicago metro.
• Lakeside Bank: Independent Chicago community bank serving personal and small-business customers with deposit, loan, and digital services. Comparable as a similarly-sized community bank competing for the same Chicago personal and SMB customer base.
• BankFinancial Corporation: Chicago-area thrift holding company offering personal and business deposit, lending, and treasury products. Comparable as a small, Chicago-headquartered thrift/savings-oriented institution with a similar community-bank profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/813045662086836

Revenue estimate

Valuation estimate

Number of profiles

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 North Side Federal