Total Deposits Under $250,000
Overview
The Treasurer’s Office is in charge of investing state and local taxpayer dollars. Through the Community Development Link Deposit, the Treasurer’s Office deposits funds via time deposits (amounts over the FDIC limit will require collateral) in Approved Program Depositories (banks and credit unions statewide).
To participate in the Community Development Linked Deposit and become an Approved Program Depository, you must complete all appropriate documentation and forms listed below. In addition, note that our office will conduct a safety and soundness review of your institution. A representative from the Treasurer’s Office will contact you after your forms have been received and reviewed.
Financial Institution aggregate total less than $250,000.
Complete the following documentation:
- ACH Instruction Sheet (PDF, opens in new tab)
- Community Reinvestment Form (CRA) (PDF, opens in new tab)
- Deposit Agreement (with Certificate of Incumbency and State Certifications) (PDF, opens in new tab)
- Financial Institution Information Sheet (PDF, opens in new tab)
- Questionnaire for Financial Institutions (PDF, opens in new tab)
Daily Rates and Portfolio Information
For your convenience, interest rates for these programs are updated daily on our website. You can also view monthly updates on the State Investment Portfolio.
Strengthen Lending with Stable Deposits
Time deposits provide eligible financial institutions with a stable source of funding that can support lending in Illinois communities.
Call the Time Deposit Section at 217-782-0764 or email Banking-TimeDeposit@illinoistreasurer.gov.