The Illinois League of Financial Institutions has elected Russel F. Schroeder as chairman for a one-year term.

Mr. Schroeder is president of Iroquois Federal Savings and Loan Association in Watseka.

He succeeded Kenne P. Bristol, president and chief executive officer of Liberty Federal Bank in Hinsdale, as the trade association's chairman

C. Steven Sjogren was chosen to be chairman-elect. He is president of Mercantile Bank of Illinois in Rockford, a unit of Mercantile Bancorp in St. Louis.

Patrick J. Agnew, president and chief operating officer of St. Paul Bancorp in Chicago, was named vice chairman of the Illinois League. The trade group is based in Springfield.

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