First Midwest Bank

Introduction

First Midwest bank is a leading banking service provider, which offers essential banking services like loan, credit card, investment services etc. First Midwest bank also provides an array of unique banking services and major of these are savings, checking and Certificate of Deposits.

Operative divisions

First Midwest bank separates it’s business banking operations into two functional sections including personal banking and business banking and both the two sections provide some common facilities like savings, checking and CDs(Certificate of Deposits). Beside these common facilities some of other beneficial facilities provided by this bank are Internet banking and calculator facility.

Personal banking section: This section is designed to provide some beneficial facilities regarding personal banking service, including some special service for the individuals. Some of the frequently used facilities provided by this section are savings account, checking account and Certificate of Deposits. Customers normally need to take the advantage of savings account facility, when they desire to save their money for future use and select the checking accounts specifically for the use of their families.

• Savings facility: Savings accounts of First Midwest bank are money market savings, regular savings, platinum plus savings, IRA savings and CDs(Certificate of Deposits). Customers require to maintain a minimum balance of $2,500, $100,000, $25, $50 and $500.00 for the savings account money market, platinum plus, regular, IRA service and CDs respectively. Customers can use ATMs for all these savings accounts, except for the IRA savings account.
• Checking facility: First Midwest bank provides an array of prominent checking facilities including free checking, check plus, classic account, gold checking, platinum checking etc. No interest are given to free checking and check plus options and the interest rates are variable in nature for the rest of the options. Customers require to maintain a daily balance of $1200, $2500, $10,000 and $1200 for classic account, gold checking account, platinum checking account respectively. Customers do not require to maintain any minimum opening balance for free checking account. All the checking accounts provides ATM and check card facility, except check plus.
• Certificate of Deposits(CDs): First Midwest bank provides this special facility to enable customers saving their money in terms of certificate of deposits. Some of the prominent CD facility types are 17 month CD $5000, 10 month CD $2500, etc. CD facilities are available for 3 months to 30 months period. Interest rate for 17 month CD $5000 is 5.18% and for 10 month CD $2500 is 5.24%.

Business banking section: This operative section of First Midwest bank specifically deals with services like agricultural loan, SBA loan, commercial loan, and checking accounts.

• Agricultural loan: This loan type provides the financial assistance and support to the agricultural business sector.
• SBA Loans: This is a special loan types specifically designed to serve the corporate sector
• Commercial Loans: This loan type is related with services like equipment financing, capital acquisition etc. Some experience business experts of First Midwest bank are always ready to assist the customers regarding commercial loans.
• Checking Accounts: Customers can save their money relating to business for the near future by acquiring any business checking account of First Midwest bank.

Internet banking: This is the most effective facility of First Midwest Bank. Internet banking enables customers to access their business account information with convenience and flexibility.