Corus Bank is a highly reputable and stable bank incorporated in Minnesota in 1958 with its headquarters in Chicago, Illinois. Corus Bank has its main focus on commercial real estate lending and deposit gathering.
Corus Bank’s eleven branches in Chicago offer a wide range of deposit products to customers. They have six types of deposit accounts, which are checking accounts, money market accounts, savings accounts, certificates of deposits, individual, and retirement accounts.
Their checking accounts are either totally free, low minimum interest accounts, no minimum interest, economy interest, direct deposit free interest, tiered interest and ultimate interest checking accounts. All these checking accounts are offered along with free internet banking, free bill payment, and free ATM cards.
The money market accounts that are available are the ultimate money market and classic money market accounts. While the minimum balance in the Classic account is $2500, it is $10000 in the ultimate money market account. Both the accounts are eligible for monthly compounded interest that is credited at the end of the statement cycle. The account statement is provided monthly and checks are provided free.
Corus Bank’s statement savings account enables you to put the savings in a FDIC insured account, giving you the security required. The passbook savings account is a great way to begin savings. A passbook register will be given, which shows all the transactions. Passbook savings account is available even for children aged 17 and below, which needs to be signed by a parent. The minimum deposit for both the accounts is $50 to open an account and the minimum daily balance is $300. Interest rate is variable and compounded daily and credited quarterly. Account statement is provided quarterly for the statement savings account only. ATM card is also available only for the statement savings account and that too if it is linked to a checking account.
The certificates of deposit (CD) with their best CD rates make a significant difference in the earning potential when compared to the other type of accounts. Not only does the bank provide the best CD rates, which are far higher, but the terms are flexible and these features make the CDs most convenient. The savings are secure and earning guaranteed as the CDs are FDIC insured. The best part about investing in these other than the fact that this bank provides one of the best CD rates, is that unlike stock, bonds, and mutual funds, there will be no rate fluctuation and hence the value will be intact even at the end of the term.
Also available are Jumbo certificate of deposits for huge amounts such as $100000 and more. The term of the CDs is between 3 to 5 years and the minimum balance required is $10000. The rate of interest is fixed and interest compounded and credited monthly. Best CD rates are available for those with higher deposits and this interest may be added to the CD.
Corus Bank has its share of benefits for seniors, in the form of individual retirement accounts (IRAs) with several tax advantages. These accounts allow the individual to plan ahead for their retirement, which is essential.
You can do your banking from home or when traveling with the help of the highly advanced features of their internet banking. To make your online banking experience secure, Corus Bank uses high data encryption and a secure password. A combination of free ATM access and free internet banking makes banking a luxury.
A little variant from the norm is the check card, which looks no different from a credit card or ATM card but works like cash or check. This wonderful innovative payment method can be used to pay directly from the checking account, for any purchases made.
Other services from the Corus Bank include teller phones, to keep in touch with the checking and savings accounts and telephone banking. The bank also provides safety deposit boxes at very low rates, which enable customers to store important documents, jewelry, or anything valuable. Highest security measures are followed and no person other than the account holder will have access to these safety deposit boxes.
Corus Bank provides numerous loan facilities to meet borrowers’ needs. It is an active nationwide lender that specializes in condominium construction, conversion, and inventory loans. It also provides financing for hotels, offices, and apartments. It provides commercial real estate loans too.
Corus Bank takes pride in serving thousands of satisfied customers. Customer service is excellent and customers find it a pleasure to talk with real people with names at this bank, making it personalized banking at its best. All the questions or problems are promptly handled.
Corus Bank thinks ahead into the future and introduces innovative methods to attract customers and at the same time, ensures that the services provided by them far exceed the expectations of its customers.
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