American Enterprise Bank

American Enterprise Bank is a locally owned, community focused bank in Illinois.  They went into business back in 1995, and have grown to have $250 million in assets since that time.  They are a full service bank that provides savings, checking, and loans, among many other services.

American Enterprise Bank’s mission statement is as follows: “American Enterprise Bank’s mission is to provide high quality financial products and services which are responsive to, and meet the needs of, its retail and commercial trade area, maintaining at all times the highest ethical standards and adhering strongly to safe and sound banking principals. The Bank strives to provide a strong contribution to the growth and economic stability of the communities, which it serves.”

Loans Funded By American Enterprise Bank

• First Mortgage—A first mortgage is any mortgage you obtain when you don’t have any other active mortgage loans in your name.
• Home Purchase—A Home Purchase Loan is a broad concept.  It is any loan that is used to purchase a residential property.  Some of the more common Home Purchase Mortgages include the Fixed Rate Mortgage, Adjustable Rate Mortgage, and Interest Only Mortgage.
• Refinance—A Refinance is a helpful mortgage tool.  A Refinance is a brand new mortgage that pays off and replaces your existing mortgage.  It always comes with a lower interest rate and/or more favorable terms.
• Second Mortgage Loan—There are many types of second mortgages.  The most popular second mortgage is the Home Equity Loan.
• Home Equity Loan—A Home Equity Loan allows you to use the equity you have built in your home to your financial advantage.  People use the Home Equity Loan to consolidate debt, make home improvements, or pay for college, among other things.
• Fixed Rate Mortgage—The Fixed Rate Mortgage is the most reliable mortgage product.  It comes with a consistent monthly payment plan and an interest rate that you lock in at closing.
• Adjustable Rate Mortgage—The Adjustable Rate Mortgage allows you to take advantage of dips in the market.  Your interest rate adjusts according to the market, usually on an annual basis.

More About American Enterprise Bank

American Enterprise Bank has three branch locations in Buffalo Grove, Schaumburg, and Highland Park.  They are also part of the STAR ATM network.  Members of American Enterprise Bank can use STAR ATM’s with no surcharge fees.  They also offer online banking for your convenience. 

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