About Mutual Federal Bancorp
Mutual Federal Bancorp, Inc. operates as the holding company for Mutual Federal Savings and Loan Association of Chicago that provides various financial services in Chicago.
Lending Activities
As of December 31, 2008, the bank’s loan portfolio included one- to four-family residential mortgage loans, multifamily real estate loans, and consumer loans.
One- to Four-Family Residential Loans: The bank’s primary lending activity consists of the origination of one- to four-family residential mortgage loans that are secured primarily by properties located in Cook County.
Multi-Family Real Estate Loans: Multi-family real estate loans generally are secured by small apartment buildings with approximately 10 units and includes two- to four-family residential properties that would also include a commercial or income-producing element, such as a first floor store-front business. The bank’s multi-family real estate loans are secured by properties located with in its lending area.
Consumer Loans: The bank offers consumer loans, secured by deposits, to its customers.
Subsidiary Activities
The bank operates one subsidiary, EMEFES Service Corporation, which provides insurance brokerage services to its customers.
Investment portfolio
As of December 31, 2008, the bank’s investment portfolio included the U.S. agency and government-sponsored entity bonds, GNMA certificates, FNMA certificates, FHLMC certificates, Collateralized mortgage obligations, and FHLMC preferred stock.
Deposits
The bank offers various deposit products that include non-interest-bearing checking accounts, passbook savings, and fixed-term certificates of deposit accounts.
History
Mutual Federal Bancorp, Inc. was founded in 1905.