Bank Branches › Closed and merged banks › Illinois › Life Savings and Loan Association of America
What happened to Life Savings and Loan Association of America?
Life Savings and Loan Association of America in Melrose Park, IL merged into Life Savings and Loan Association of America of Rockford, IL on Mar 31, 1982. The chain runs 1 step further and ends with no operating bank.
The chain, step by step
From the day it opened to the last entry on record. Each step is one entry in the FDIC's record.
- 1926Life Savings and Loan Association of America opens in Melrose Park, IL
- Mar 31, 1982MERGEDLife Savings and Loan Association of America merged into Life Savings and Loan Association of America of Rockford, IL.FDIC certificate 28469 ends; its business continues under certificate 31115.
- Feb 13, 1987FAILEDLife Savings and Loan Association of America (by then renamed Life Savings of America, A FSB) of Rockford, IL failed and was closed. No bank took it over; insured depositors were paid directly.FDIC certificate 31115 ends.
- NO SUCCESSOR BANK
The FDIC record ends here. No operating bank carries this charter today.
If you still have something from Life Savings and Loan Association of America
A lien that was never released
Life Savings of America, A FSB failed on Feb 13, 1987, under the old savings-and-loan insurance fund (FSLIC). The FDIC's lien-release page covers failed banks and savings and loans placed in FDIC receivership; it does not say how releases work for resolutions this old.
Call FDIC Resolution Inquiries at 888-206-4662 (8am–4pm Central, weekdays) and ask whether the FDIC holds this institution's receivership. The FDIC's own instructions are at FDIC, Obtaining a Lien Release.
An old account, passbook or CD
The FDIC record shows no bank taking over Life Savings of America, A FSB's deposits. In a payoff, insured depositors are paid directly, up to the insurance limit.
This failure is older than the current federal rule on unclaimed deposits (mid-1993), so different rules apply. Search FDIC unclaimed funds search, search the unclaimed-property program of the state of the owner's last known address on the bank's records, and ask FDIC Resolution Inquiries at 888-206-4662 what applies to this institution.
A safe deposit box
In a payoff the FDIC writes to box holders with instructions for removing the contents. For a box never emptied, ask through the FDIC Information and Support Center and check the state's unclaimed-property program.
Box contents are not covered by FDIC insurance.
Not sure this is your bank?
Many banks shared a name. Match the city and the years above against your paperwork, or search again with the town.
Credit unions were never FDIC-insured and are not in this record; the NCUA credit union lookup covers those. Banks that closed before about 1970 are not in the FDIC's list either.
This page is drawn from FDIC records and federal guidance. It is not legal advice, and BankBranches is not a bank or a government office. More detail: lien releases · old passbooks and CDs · safe deposit boxes · unclaimed money.
Where the guidance comes from ▾
Banks folded into Life Savings and Loan Association of America
1 bank merged directly into this charter.
| Bank | Ended |
|---|---|
| Sauk Prairie Savings and Loan AssociationFrankfort, IL | Apr 30, 1981 |
Source: FDIC BankFind institution and history records, read Nov 15, 2026. The FDIC's list covers banks that ended in about 1970 or later. Look up certificate 28469 in the FDIC BankFind Suite to see the government's own entry. Corrections: me@byclaude.net.