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Explore Savings Products from Sterling Federal Bank

  • No fees from Raisin. $1 minimum deposit.
  • 24/7 online access to funds.
  • Dedicated to improving the quality of life for their neighbors.
  • - APY 3 month high-yield CD, - higher than national average.

All Savings Products from Sterling Federal Bank

Sorry, there are no products available at this time.
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About Sterling Federal Bank

Welcome to Sterling Federal Bank, a cornerstone of our community since 1885. Our journey began with a commitment to support those moving to our area, helping them build their first homes and establish a legacy of success. This dedication has helped shape our community into what it is today. For nearly 140 years, Sterling Federal Bank has demonstrated resilience and financial stability through significant historical events, including two World Wars, the Great Depression of the 1930s, and the Great Recession of 2008. Our customer base consists mainly of blue-collar workers, farmers, and small business owners—groups that form the backbone of the American economy and have unique financial needs.

At Sterling Federal Bank, we believe in more than just providing financial services. We are committed to enhancing the quality of life in the communities we serve. Our employees volunteer over 600 hours annually, and our donation programs offer financial support to local non- profits and community development. Sterling Federal Bank is not just a financial institution; we are a proud and active member of the community.

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Best Places to Work in Illinois

Sterling Federal Bank is named one of the Best Places to Work in Illinois for the 7th year in a row.

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Named Among Top Extraordinary Banks in the Nation

Sterling Federal Bank is committed to excellence in banking and serving our communities. Our communities benefit from our high level of monetary donations and the hundreds of hours of community service our employees give every year.

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We Are a Mutual Bank

Sterling Federal Bank was built on a simple idea: local people and their businesses are best served by a local bank, with local interests at heart. For that reason, Sterling Federal was established as a mutual institution, owned by its depositors, instead of by shareholders. More than a century later, we’re still a mutual institution.

Security Is Our Top Priority

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Raisin is focused on cybersecurity

At Raisin, we invest in a variety of technologies to protect our customer’s data, privacy and transactions. These include multi-factor authentication, encryption, and web application firewall advanced internet protection technologies. Raisin is a SOC 2 certified organization, which means we have met the requirements outlined by the American Institute of Certified Public Accountants (AICPA) to ensure that we have the controls in place to keep customers data secure and private.

Sterling Federal Bank, Powered by Raisin

Sterling Federal Bank uses the secure Raisin platform to offer savings products to savers nationwide. Customers open accounts at Raisin.com and can manage all aspects of their deposits held at Sterling Federal Bank through the platform, including making deposits and withdrawals, reviewing statements and any customer service needs. In simple terms, Raisin provides you exclusive access to a special selection of Sterling Federal Bank products. Best of all, Raisin is completely free!

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    Security: Raisin partners exclusively with federally regulated institutions which are required to implement comprehensive cybersecurity programs including risk assessments, security controls and incident response plans. Raisin itself invests in a suite of state-of-the-art cybersecurity measures including certifications and assessments, data monitoring and data encryption.

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    Choice: Choose from a diverse selection of savings products offering flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.

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    Convenience: One login to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.

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    Service: A supportive, accessible, knowledgeable and responsive customer service team sets Raisin apart.

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    Access: Enjoy 24/7 online access to your account and funds.

Open an Account in Minutes

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Select

the right product for your savings goals.

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Register

with an email address and password, then verify your identity and bank information.

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Fund

the savings products you add to your new Raisin login.

FAQs

Raisin is a free digital platform that gives savers unparalleled access to a variety of deposit products through the convenience of a single login, helping you unlock the growth potential of your cash savings.

With the Raisin platform, you can fund deposit products offered by federally regulated banks and credit unions with a wide range of maturities and APYs (annual percentage yield), allowing you to build a savings strategy to suit your earning and liquidity needs.

Raisin is not a bank or credit union. It provides the digital “storefront” where banks and credit unions can promote their deposit products.

Raisin is operated by Raisin Solutions US LLC, a 100% subsidiary of Raisin SE, a trailblazer for open banking in the deposits and investments space. In the U.S., Raisin helps banks and credit unions improve their deposit funding by offering national reach for their retail deposit products, and provides savers with better access, more choice and higher convenience when evaluating savings products from federally regulated banks and credit unions.

Your Raisin login gives you access to savings accounts and certificates of deposit offered by a variety of banks and credit unions. These products include:
  • High-yield Savings Account (HYSA). As its name indicates, this account type functions like a traditional savings account—with typically no restrictions on depositing and withdrawing funds—but earns interest at rates that are higher than the national average for standard savings accounts.
  • Money Market Deposit Account (MMDA). Also known as a money market account or MMA, this type of savings account offers a varying rate that allows you to earn interest on your funds with maximum flexibility for withdrawals. Like a HYSA, an MMDA offers features of a traditional savings account with typically higher returns.
  • No Penalty CD. Through the flexibility of a No Penalty CD, you can lock in a competitive rate for a fixed term with the option to make a full withdrawal without having to pay a penalty for the early termination. Terms and conditions may vary by product. Please see specific product terms for more details.
  • Fixed Term CD. With this longstanding savings vehicle, funds are held for a fixed term, and a competitive interest rate provides safe, predictable earnings. In contrast to No Penalty CDs, typically you are charged a fee if you do not complete the full term of the Fixed Term CD.

Interest (or dividend in the case of credit union savings products) is compounded daily and posted to your account monthly.

At Raisin, cybersecurity is our priority. Raisin is a SOC 2 certified platform, meaning it has been validated by outside auditors across five (5) key information security principles. We also use a variety of measures to protect our customers' data, privacy and transactions, including:

  • User authentication. The Raisin platform uses multi-factor authentication combined with leading authentication technology to validate our customers’ identities.
  • Data encryption. Your personal information is encrypted in-transit and at rest using advanced cryptographic security algorithms.
  • Site protection. Web application firewall advanced internet protection technologies are implemented to protect Raisin.com from malicious actors, botnets and denial of service attacks (DDOS).
  • Monitoring. An always-on information security monitoring platform detects and alerts us to information security events.
  • Assessments. Our platform undergoes vigorous security assessments and testing throughout the lifecycle of application development, from architecture planning to production phases.

Creating a Raisin login is easy, requires no credit check, and typically takes less than five minutes. Here’s how:

  1. View the offers on our savings marketplace and select a savings product offered by one of our partner banks and credit unions.
  2. Follow prompts to enter your email and create a password.
  3. Complete a simple online application and, after successful identity verification, link a bank account from which to fund your first deposit.
  4. Start earning interest as soon as your money is received by the bank or credit union offering the savings product you selected.

Any questions or concerns? Email us at support.us@raisin.com.

All deposits and withdrawals are completed within one to three (1-3) business days. After the initial deposit a withdrawals limitation for the first few business days may exist.

Business days are Monday through Friday excluding U.S. bank holidays.

For products offered by banks, all necessary registration is handled when you become a Raisin customer. One of the many benefits of our platform is that you can open a single account and earn competitive interest rates from banks in the Raisin network. When you select and fund a savings product offered by a credit union, there is an additional step of becoming a member. Raisin makes that process quick, easy and free. You still have one Raisin login and can view all your savings products in one convenient dashboard.

The current APY for your savings products can always be viewed on the Account Overview page when you are logged in to Raisin. This information also appears on monthly statements.

You cannot currently link your Raisin login to a third-party app, but we may offer this feature in the future. For now, you will not be able to link your selected savings product to a third-party app even if the bank or credit union offering that product does so outside of the Raisin platform.