Devon Bank originally opened as the Devon North Town State Bank on September 15, 1945, just before the end of World War II. Our founders were local merchants who believed that the community known then as North Town, on Chicago’s north side, would benefit from a community bank.
Today, 70 years later, Devon Bank remains an independent community bank with deep roots in our communities and with the dedicated customer commitment envisioned by our founders. Primarily owned and operated by the Loundy family since 1953, Devon Bank has grown gracefully, along with our customers and our communities.
Devon Bank’s mission has always been to be the bank that the neighborhood needs—to tailor its service offerings to the particular demands of the community. This means that with our headquarters in one of the most diverse neighborhoods in the country, the Devon Bank staff on average speaks collectively more than 30 languages. It means that the Bank has provided mortgage seminars in Romanian. It means that the Bank has presented financial literacy classes in Assyrian. It means the Bank has developed the premier Islamic finance program in the country and expanded it out geographically to help serve a broader un-met need. It means the Bank has developed gap-bridging student loan programs for the Jewish Federation. The Bank has helped resettle Russian refugees. The Bank has provided support to churches, synagogues, mosques, a Buddhist temple, social service agencies, community groups, medical providers, and providers of subsidized housing, developers, builders, visionaries, and those that just want to sell groceries to the locals.
The caring community bank envisioned by our founders is embodied by both our business and philanthropic commitments. Whether an individual needs a business loan, a home mortgage, car loan, or an organization like a religious or a social service group wants to finance a new facility, we go that extra mile to help them find a way to achieve their financial objectives.
We know that time is money. Since we are locally owned, all decisions are made locally, so customers get swift answers and action at all our locations. In some cases, we even bring the banking right to you—we have opened branches in a number of senior residence facilities, and we offer remote deposit capture for customers with checks to deposit that do not want to come in to the bank or go to an ATM to make a deposit.
We take pride in supporting the non-profit sector of our communities. Whether it is donating funds, staff time, or our facilities, we are proud to help by furthering the work of schools, service groups, scouts, civic groups, religious institutions and other organizations working to improve our communities. We were the proud recipients of an “Outstanding” rating (the highest possible) in four of the last six examinations from the Federal Deposit Insurance Corporation (FDIC) for our compliance with the Community Reinvestment Act (CRA). CRA ratings measure how well a bank meets the credit and other financial needs of its communities.
Devon Bank is a full service community bank offering business and personal banking, commercial, automobile, real estate and mortgage loans, trust and international services. We also offer a broad range of electronic banking services from online banking and bill pay to ATM/Debit Cards and Touch Tone Teller. In addition to a high level of professional service, our service is personalized to the individual needs of our customers and our communities. There’s no one size fits all when it comes to banking services from Devon Bank.