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The Latest · Burling Impact · Burling Community · Deposit with Burling

Burling Bank Impact

Mighty Report. March 2018. Five minute read.


 
 
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The Latest

Your Money Isn't Sitting in Your Bank, It's in Motion

Your money isn't just sitting in a bank. It's in motion, financing different markets, including communities, or the Real Economy.

To help you better understand how your bank money is in motion, Burling Bank has partnered with Chicago and women-led startup, Mighty, to power this impact reporting.

The mission of Mighty, based at the University of Chicago Polsky Center for Entrepreneurship and Innovation, and featured in Fast Company and American Banker, is to help individuals and businesses - like you - know the unique neighborhood footprint your money on deposit in the bank is making.

Mighty analyzes publicly reported bank data about how banks put their clients' money to work for neighborhoods. Mighty then works with banks to deliver bite-sized content to facilitate increased transparency and connections for the public about their money in the bank and the communities they're impacting.

Burling Bank is proud to partner with Mighty to facilitate this experience for its customers.


 
 
 

 
 
 
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Burling Impact

80% of Your Money on Deposit in Burling Finances Community

Different banks put depositors' money to work in different ways. 80% of your money on deposit in Burling Bank is put to work for the Real Economy, or communities.

Translated, this means that $80 of your every $100 on deposit in Burling Bank finances communities (or $8,000 of every $10,000, or $80,000 of every $100,000, and so forth). 

Community financing includes loans and investments for the development of business, housing, construction, public works, and consumer activities. 

Dollar for dollar, Burling Bank puts $29 more financing into communities for every $100 on deposit than the average big bank with a branch in the Chicago metro area.

You can see how different banks compare in their community financing focus, below.

Burling Puts More of Your Money to Work for Communities vs Other Banks in Chicago

Data detail: "Average Bank in Chicago" includes banks with a branch in the Chicago metro area. "Average Big Bank in Chicago" includes banks > $50 billion in total assets with a branch in the Chicago metro area. Bank averages weighted by bank size. Values shown as a percent of total bank dollars. Loan, investment, deposit, and branch data updated Q4 2017. Data source: Financial Institutions Examination Council (FFIEC), FDIC Summary of Deposits Survey.


 
 
 
 

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Burling Community

See What We Finance

 
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Premium Seafood in West Town

"We started Wabash Seafood in 1989 to fill a gap in the city's wholesale seafood market, which was dominated by large corporate distributors at the time. Today we distribute quality seafood to the top chefs in the city. Burling understands small business ethos, the importance of small business relationships, and the importance of setting standards of excellence when making your name in small business."

- Owners John and Deanna Rebello

 
 
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Vintage Pinball in Logan Square

Logan Arcade in Logan Square chose to partner with Burling in opening the best-maintained and largest public collection of vintage pinball and video games in Chicago.

"At Logan Arcade you can find beer, pinball and video games, and local appreciation. We're proud to bank local."

- Logan Arcade owner Jim Zespy

 
 
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A Better Loan Experience for Small Businesses

Akouba is a software company that aims to provide the best user experience in online loan applications for small businesses interested to work with banks and credit unions. Burling has partnered with Akouba to help small business loan applicants complete a Burling loan application online in an average of 10 minutes.

"In Burling we found a partner that is not only focused on small business relationships, as we are, but also understands the future of fintech and is making investments in technologies that serve small business marketplaces."

- Akouba Founder + CEO Chris Rentner


 
 
 
 
 

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Deposit With Burling

Thank You for Being a Valued Client of Burling Bank

 
 


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Burling Bank. 141 W. Jackson Blvd. Chicago, IL 60604. Hours: M-F 8 am - 4 pm.