The Treasurer’s Office provides low-cost liquidity to banks, credit unions and savings and loan institutions located in Illinois through the Access to Capital program. The goal is to provide an additional source of funding for Illinois financial institutions during the current economic and market conditions.

Amounts and Terms:

• Financial institutions can receive up to $25 million.
• The maximum deposit term is one year.
• If the total state deposits are in excess of $250,000, the financial institution will be required to pledge collateral.  You can view a listing of our acceptable collateral here.

Interest Rates:

• Interest rates are indexed daily here. The final deposit rate is determined on the business day prior to issuing the deposit. Contact our banking division at (217) 782-2072 with interest rate questions.

Program Eligibility:

• The prospective financial institution must be approved as a state depository.
• The prospective financial institution must meet rating criteria from IDC Financial, the Treasurer’s rating service.

How to Apply:

• If your financial institution is not currently an approved depository, contact the Banking Division at (217) 782-2072 for information on how to become approved.
• Fax a letter on your institution’s letterhead to (217) 522-1217 and include the deposit request amount and your preferred maturity terms.  The interest rate on the time deposit will be confirmed one business day prior to the deposit date.

History:

• Access to Capital was established in late 1995 and has committed $957,184,000 to Illinois financial institutions.

If you have questions, please contact the banking division at (217) 782-2072.