McHenry Savings Bank
About McHenry Savings Bank
McHenry Savings Bank is a company based in Chicago (United States) founded in 1955 was acquired by Michigan State University Federal Credit Union in August 2023.. McHenry Savings Bank has raised $23 million across 1 funding round from investors including Michigan State University Federal Credit Union. McHenry Savings Bank offers products and services including Checking Accounts, Savings Accounts, Loans, and Investment Services. McHenry Savings Bank operates in a competitive market with competitors including Truist, First Republic Bank, Equity Bank, Investec and UniCredit, among others.
- Headquarter Chicago, United States
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Msu Federal Credit Union
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$23 M (USD)
in 1 rounds
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Latest Funding Round
$23 M (USD), Series B
Feb 01, 2018
- Investors
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Employee Count
Employee Count
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Acquired by
Michigan State University Federal Credit Union
(Aug 28, 2023)
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Products & Services of McHenry Savings Bank
McHenry Savings Bank offers a comprehensive portfolio of products and services, including Checking Accounts, Savings Accounts, Loans, and Investment Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Accounts for daily transactions and deposits with fee rebates
Interest-bearing accounts for personal savings and growth
Personal and commercial loans for vehicles and real estate
Options for certificates and retirement planning assistance
Funding Insights of McHenry Savings Bank
McHenry Savings Bank has successfully raised a total of $23M through 1 strategic funding round. The most recent funding activity was a Series B round of $23 million completed in February 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series B — $23.0M
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First Round
First Round
(01 Feb 2018)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2018 | Amount | Series B - McHenry Savings Bank | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in McHenry Savings Bank
McHenry Savings Bank has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Michigan State University Federal Credit Union. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Operates as a credit union providing financial products to community members.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by McHenry Savings Bank
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - McHenry Savings Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Mchenry Savings Bank Comparisons
Competitors of McHenry Savings Bank
McHenry Savings Bank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Truist, First Republic Bank, Equity Bank, Investec and UniCredit, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Wealth advisory and banking services are offered to clients.
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Commercial bank
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| domain | founded_year | HQ Location |
Commercial banking services are provided to businesses and individuals.
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Global banking, investment, and wealth management services are offered worldwide.
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Commercial bank
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| domain | founded_year | HQ Location |
Commercial banking and wealth management services are offered globally.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Mchenry Savings Bank
Frequently Asked Questions about McHenry Savings Bank
When was McHenry Savings Bank founded?
McHenry Savings Bank was founded in 1955 and raised its 1st funding round 63 years after it was founded.
Where is McHenry Savings Bank located?
McHenry Savings Bank is headquartered in Chicago, United States. It is registered at Chicago, Illinois, United States.
Is McHenry Savings Bank a funded company?
McHenry Savings Bank is a funded company, having raised a total of $23M across 1 funding round to date. The company's 1st funding round was a Series B of $23M, raised on Feb 01, 2018.
What does McHenry Savings Bank do?
McHenry Savings Bank was established in 1955 as a commercial bank headquartered in Chicago, United States. Operations focus on retail and business banking within the financial sector. Deposits, loans, and basic financial services are offered to individual and corporate clients. The bank maintains a localized presence in the region, supporting community-based economic activities through standard banking practices.
Who are the top competitors of McHenry Savings Bank?
What products or services does McHenry Savings Bank offer?
McHenry Savings Bank offers Checking Accounts, Savings Accounts, Loans, and Investment Services.
Who are McHenry Savings Bank's investors?
McHenry Savings Bank has 1 investor. Key investors include Michigan State University Federal Credit Union.