Access to Capital Program
Overview
A key objective of the Office of the Illinois Treasurer is to invest State capital in a manner that supports community development efforts while simultaneously meeting its primary investment objectives of safety, liquidity, and return on investment. The Deposit of State Moneys Act (15 ILCS 520) authorizes the Treasurer’s Office to place deposits (in the form of a time deposit) in approved financial institutions in Illinois, including banks, credit unions, and savings and loan institutions. With that added liquidity from time deposits, they may be better positioned to lend to families, small businesses, and community development efforts across Illinois.
Read the Access to Capital services overview sheet.
Over the last five fiscal years (FY 2015–2020), the Treasurer’s Office placed $222 million in Access to Capital deposits with financial institutions statewide.
Become an Approved Depository
To participate in the Access to Capital Program, institutions must become an approved state depository.
- Become an Approved Program Depository
- List of Approved Program Depositories
- List of Participating Program Depositories
Approved Program Depositories can also participate in the Treasurer’s Community Development Linked Deposit Programs.
Submit an Application for Deposit
The Access to Capital Program allows the Office of the Illinois Treasurer to place time deposits with approved financial institutions across Illinois. Financial institutions may request terms ranging from 30 to 365 days to up to 2 years. Approved depositories seeking to utilize the Access to Capital Program are required to submit an Application for Deposit
Daily Rates
Community Reinvestment Act
The Office of the Illinois Treasurer wants to encourage an open and effective banking system that grows local communities and boosts Illinois’ economy. By law, the Office of the Illinois Treasurer is authorized to consider a financial institution’s record and current level of financial commitment to its local community when deciding whether to deposit State funds in that financial institution. CRA ratings of “satisfactory” or “outstanding” are required to allow the deposit of state funds. Exemptions for the Access to Capital – Community Uplift Program will be considered for qualified credit unions that do not receive a CRA rating.
Contact Us
Should you have any questions about this process, contact the Treasurer’s Time Deposit Section at 866-458-7327 or AccessToCapital@illinoistreasurer.gov.