On Friday, January 17, 2025, Pulaski Savings Bank was closed by the Illinois Department of Financial and Professional Regulation. The Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. Millennium Bank, Des Plaines, IL assumed all deposit accounts and substantially all the assets.
If You Had a Deposit Account
The full balance of all deposit accounts has been transferred to Millennium Bank.
You may continue to use your checks and ATM/Debit card. Direct deposits such as paychecks and social security benefits will continue as usual. Please refer to the Banking Services section below for more details.
EDIE — Electronic Deposit Insurance Estimator
Calculate insurance coverage of deposit accounts
Facts for Depositors
General information explaining the role of FDIC
If You Had a Loan
You should continue to make payments, including escrow payments, as usual; the terms of your loan will not change.
If your loan is currently in process or you had a line of credit, contact your loan officer directly.
If you are making escrow payments and receive notification that any portion of your taxes or insurance was not paid, contact your loan officer immediately.
If you received notice that the FDIC retained your loan, and you have questions, please visit the FDIC Information and Support Center.
Obtaining a Lien Release
Process on getting a release of lien
Borrower’s Guide to an FDIC Insured Bank Failure
Overview of how FDIC processes loans
Facts for Borrowers
General information explaining the role of FDIC
If You Are Owed Money for a Service or Product Provided
You may be eligible to file a claim against Pulaski Savings Bank.
If you have not been paid for services rendered prior to January 17, 2025, please refer to the Filing Claims section below.
Facts for Creditors
General information explaining the role of FDIC
Beware of Scams
If you are concerned about becoming a victim of fraud, be advised that you will not receive any communication from the FDIC requesting any private information. Be watchful for and resistant to any scams to obtain information from you by individuals or entities stating they are acting on behalf of Pulaski Savings Bank, Millennium Bank, or the FDIC. The FDIC, however, will encourage you to correspond with us via the Failed Bank Customer Service Center (FBCSC), a secure web portal.
About Millennium Bank
All deposit accounts have been transferred to Millennium Bank, Des Plaines, IL ("assuming institution") and will be available immediately. The former Pulaski Savings Bank location(s) will reopen as branch(es) of Millennium Bank during regular business hours.
All transferred deposits will be separately insured from any accounts you may already have at Millennium Bank for at least six months after the failure of Pulaski Savings Bank. Checks that were drawn on Pulaski Savings Bank that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.
Millennium Bank will review deposit rates. You will be notified of any changes. You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Millennium Bank as long as the deposit(s) are not pledged as collateral for loan(s).
Contacting Millennium Bank
Millennium Bank
2077 Miner St
Des Plaines, IL 60016
Millennium Bank (www.mb.bank)
Brokered Accounts
All deposit accounts have been transferred to Millennium Bank. If you are a customer who has a Pulaski Savings Bank deposit through a broker, you must contact your broker with any questions.
Automatic Payments/Bill Pay/Online Banking
These services will continue as usual. Your routing number and account number will remain the same until you are notified in writing by Millennium Bank.
ATM and Debit Cards
Your ATM/Debit card will continue to work as usual.
Checks
Your checks will be processed as usual. All outstanding checks will be paid against your available balance(s). Millennium Bank will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, please contact your branch office.
Direct Deposit
All direct deposits, such as, social security, payroll, veterans' benefits, disability, unemployment or any payment you receive electronically will continue as usual.
Overdraft Lines of Credit
These lines have been transferred to Millennium Bank. Please contact Millennium Bank if you have additional questions regarding your accounts.
Safe Deposit Boxes
You will have access to your safe deposit boxes during normal business hours. Any changes will be communicated by Millennium Bank.
Tax Reporting — 1098 and/or 1099
Millennium Bank will be responsible for mailing your 1099 tax information. Your 1098 reporting will be done by the FDIC or the servicer of your loan. You will be notified of any changes in ownership or servicing of your loan.
Creditors
If you or your company provided a service or product, leased space, furniture, or equipment to Pulaski Savings Bank on or before January 17, 2025, and have not been paid, you may have a claim against Pulaski Savings Bank.
All creditors having claims against Pulaski Savings Bank must submit their Proof of Claim form, along with the supporting documentation, to the Receiver through one of the following methods: online, by email, or by mail. You can complete the Proof of Claim form and provide supporting documentation online through the Failed Bank Customer Service Center (FBCSC). To file a claim via email or mail, please go to Deposit Claims & Asset Sales to obtain a Proof of Claim form. Please complete the Proof of Claim form along with supporting documentation and submit via email, or by mail.
Online (Electronic Filing):
Failed Bank Customer Service Center (FBCSC)
Email:
Mail:
FDIC as Receiver for Pulaski Savings Bank
Attention: Non-Deposit Claims
600 North Pearl Street
Suite 700
Dallas, TX 75201
NOTE TO CLASS CLAIMANTS: By law, the Receiver will not accept a claim filed on behalf of a proposed class of individuals or entities or a class of individuals or entities certified by a court. EACH individual or entity must file a separate claim with the Receiver.
Priority of Claims
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
- Depositors
- General Unsecured Creditors
- Subordinated Debt
- Stockholders
Contact Information
Questions About This Closing
Contact the FDIC Customer Service Department at 1-866-314-1744.
Hours of Operation - Central Time
| Day | Time |
|---|---|
| Friday, January 17, 2025 | Until 9:00 p.m. |
| Saturday, January 18, 2025 | 9:00 a.m. - 7:00 p.m. |
| Sunday, January 19, 2025 | 10:00 a.m. - 6:00 p.m. |
| Monday, January 20, 2025 | 10:00 a.m. - 7:00 p.m. |
| Tuesday, January 21, 2025 | 9:00 a.m. - 7:00 p.m. |
| Thereafter: | 9:00 a.m. - 5:00 p.m. |