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Burling Real Economy Impact Report

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Burling Impact · Community · Optimize Your Banking

 

93% of Our Small Business Loans are Made in Chicago

As a small business, Burling Bank focuses on working with other small businesses in Chicago, from housing developers to yoga studio owners to local fintech companies.

As illustrated below, Burling Bank makes a majority of its small business loans to small businesses that call Chicago home.

 
 

Burling Makes 93% of its Total Small Business Loans in Chicago* 

Meanwhile, Big Banks in Chicago make the majority of their small business loans to businesses located outside of Chicago.

Big Banks in Chicago on Average Make 3% of their Total Small Business Loans in Chicago**

When you bank your deposits with Burling, your money is used to fund small business loans in Chicago.


*The number of small business loans originated by Burling Bank in the Chicago MSA as a percentage of all small business loans originated by the bank nationwide, as reported on Burling Bank's 2016 CRA Performance Evaluation, the most recent available for this bank.

**The number of small business loans originated by all "Big Banks in Chicago" in the Chicago MSA as a percentage of all small business loans originated by these banks nationwide, as reported on each bank's 2016 CRA Disclosure Report, the most recent available for these banks. "Big Banks in Chicago" includes banks with more than $50 billion in total assets and with a branch in the Chicago metro area. 


 

80% of Your Money on Deposit in Burling Finances Communities

Different banks put depositors' money to work in different ways. 80% of your money on deposit in Burling Bank is put to work to finance the Real Economy, or the neighborhood economy, primarily in the form of loans to business, housing, and public works.

Translated, this means that $80 of every $100 you have on deposit with Burling Bank finances communities. 

Dollar for dollar, Burling Bank puts $31 more financing into communities for every $100 on deposit than Big Banks with a branch in the Chicago metro area.

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

 

Percent of Total Dollars in Bank Invested in the Real Economy*

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*"Total Dollars in Bank Invested in the Real Economy" include the sum of business loans, housing loans and securities, construction loans, municipal loans and securities, farm loans, and consumer loans as a percentage of total bank assets as reported on the Financial Institutions Examination Council (FFIEC) Call Report and the FDIC Summary of Deposits Survey. "Big Bank Industry Average in Chicago" includes banks with more than $50 billion in total assets and with a branch in the Chicago metro area. Average weighted by bank size. Data updated Q4 2017.

 
 

 

Burling Impact · Community · Optimize Your Banking

What We Finance

 

Your money on deposit in Burling funds loans and other Chicago community financing.

See featured organizations we've financed, below.

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See map here.
 
 
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Progress + Preservation

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Brad Suster, owner of Luxe Property Management LLC, is a is Chicago real estate developer who has been called the Anti-Demolition Man, as written in the Chicago Reader:

Unlike many developers, Suster doesn't sell most of his landmark-quality properties after renovation. He holds on to them, even if the rents are too low for him to break even, intending to sit on them for ten or twenty years, "if not forever." He strives to maintain the integrity of the original features. Miguel Salgado, captain of one of Suster's work crews, has often found himself trying to persuade him of the impossibility of preserving certain damaged vintage elements. Once the two argued about a badly mangled front door. Salgado said it was beyond salvation but Suster wouldn't hear of buying "some new door."

"This is beautiful!" Suster implored. "Please, fix it--whatever it takes."
 
 

Yoga in Iconic Chicago Buildings

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Bottom Line Yoga offers yoga, meditation and corporate wellness classes around the work day for professionals interested in a yoga experience that is uniquely Chicago. The studio has been voted among the top 10 Chicago yoga studios by Timeout and Yelp and is always interested in connecting with professionals seeking to achieve balance in their work and purpose.

"We're a purpose-driven Chicago company and value working with purpose-driven partners and clients," says owner Lauren Goggins.
 
 

Midwest Hub for Financial Technology

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FinTEx is a nonprofit hub committed to growing financial technology in the Midwest. Burling Bank is a founding member of FinTEx and its center of excellence, Currency.

According to Michael Busch, Burling Bank CEO:
"It’s important to let startups know that there are banks in Chicago that want to encourage what they are doing, and to work with them. A startup may just need a deposit account. They may need a lending facility. They may need introductions to private equity investors. A bank like Burling Bank can provide these introductions and be a valued partner with startups."

Listen to Burling Bank CEO Michael Busch and FinTEx Cofounder Lisa Curran talk financial technology growth in Chicago. 

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Premium Seafood in West Town

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"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

Vintage Pinball in Logan Square

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Logan Arcade in Logan Square chose to partner with Burling in opening the best-maintained and most extensive 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

 

A Better Loan Experience for Small Businesses

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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

 
 

 

Burling Impact · Community · Optimize Your Banking

Manage Your Accounts Efficiently & Effectively

Download Burling's Mobile App

 

Transfer funds between Burling accounts. View account activity, electronic bill pay & payment history. Deposit checks. Locate Burling's network of surcharge-free ATMs.

Download the free Burling app for Apple or Android

 

Set Up Direct Deposits and/or Paperless e-Statements

Direct Deposit is a fast, easy, and reliable way to have payments from your employer or other payees electronically deposited into any Burling Bank checking or savings account with immediate funds availability. 

Paperless e-Statements, in addition to being green, let you access your statements virtually anytime, from anywhere. 

 
 

 
 

Access Burling's 24-Hour Bank by Phone System

Available every single day of the year, at no charge. Check your account balance, transfer funds between your accounts, determine if a check has cleared, verify deposits and withdrawals.

866-412-4632

 

Locate Surcharge-Free ATMs

Use your Burling debit card to access cash at over 60,000 ATM locations nationwide.

Find ATMs:

STARsf ATM Locator (Please filter results for surcharge-free locations)

MoneyPass® ATM Locator

Jeanie ATM Locator (+7,500 ATMs across 50 states)

 
 
 

For Your Business, For Your Life, For Your Convenience

Most of your banking with Burling can be done with the simple click of a mouse or tap of your finger.

Speak with a Burling team member for help in managing your account for convenience.

Call bank now: 312-408-8400

 

Online Banking

Manage electronic bill pay & expedited payment. Transfer funds between accounts. Send money person to person with Pop Money. Set up notification alerts via email and SMS text message. Export account data to QuickBooks, Quicken, and Microsoft Money. Access check images. View account activity and payment history. Report questions or problems online. Order stop payments. Reorder checks. Send secure correspondence.

Free Electronic Bill Pay

Initiate recurring, occasional, or one-time bill payments. View payment history reports. Monitor pending transactions.

Expedited Payment

Expedite payment for same-day or overnight.

Person to Person Payment

Send and receive money by simply emailing or texting.

Commercial Remote Deposit Capture

Centralized deposit processing and reporting. Reduced transportation costs. Immediate transaction confirmation. Improved funds availability. Reduced return item risk with faster check clearing. Client support services.

 
 

 

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Burling Bank

141 W. Jackson Blvd. Chicago, IL 60604

Hours: M-F, 8 AM - 4 PM

Email Burling

Call Burling: 312-408-8400

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