SCHEDULE 14-A INFORMATION

Proxy
Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934

|Filed by the Registrant /x/                   
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|Filed by a Party other than the Registrant / /
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|EFC BANCORP, INC.                                                   
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|(Name of Registrant as Specified In Its Charter)                    
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|(Name of Person(s) Filing Proxy Statement, if other than Registrant)
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|Payment of Filing Fee (Check the appropriate box):                  
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EFC BANCORP, INC.
1695 Larkin Avenue
Elgin, Illinois 60123
(847) 741-3900

March 20, 2001

Dear
Shareholder:

You
are cordially invited to attend the Annual Meeting of Shareholders of EFC Bancorp, Inc. The meeting will be held at the Ramada Inn of Elgin, 345 West River Road, Elgin,
Illinois on Tuesday, April 24, 2001, at 2:00 p.m., Central time.

The
Notice of Annual Meeting and Proxy Statement appearing on the following pages describe the formal business to be transacted at the annual meeting. During the meeting, we will also
report on the operations of the Company. Directors and officers of the Company, as well as a representative of KPMG LLP, the Company's independent auditors, will be present to respond to appropriate
questions of shareholders.

It
is important that your shares are represented at this meeting, whether or not you attend the meeting in person and regardless of the number of shares you own. To make sure your
shares are represented, we urge you to complete and mail the enclosed proxy card. If you attend the meeting, you may vote in person even if you have previously mailed a proxy card.

We
look forward to seeing you at the meeting.

| |  | Sincerely,                                                 
| |  | -----------------------------------------------------------
| |  | /s/ John J. Brittain
John J. Brittain Chairman of the Board

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EFC BANCORP, INC.
1695 Larkin Avenue
Elgin, Illinois 60123

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NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

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On
Tuesday, April 24, 2001, EFC Bancorp, Inc. (the ACompany"), will hold its Annual Meeting of Shareholders at the Ramada Inn of Elgin, 345 West River Road, Elgin,
Illinois. The meeting will begin at 2:00 p.m., Central time. At the meeting, the shareholders will consider and act on the following:



Note:The Board of Directors is not aware of any other business to come before the meeting.

Shareholders
of record at the close of business on March 9, 2001 are entitled to receive notice of the meeting and to vote at the meeting and any adjournment or postponement of
the meeting.

Please
complete and sign the enclosed form of proxy, which is solicited by the Board of Directors, and mail it promptly in the enclosed envelope. The proxy will not be used if you
attend the meeting and vote in person.

A
list of shareholders entitled to vote at the meeting will be available at EFC Bancorp, Inc., 1695 Larkin Avenue, Elgin, Illinois 60123, for a period of 10 days prior
to the meeting and will also be available at the meeting itself.

|                               |  | BY ORDER OF THE BOARD OF DIRECTORS                 
|------------------------------ |  | ---------------------------------------------------
|                               |  | /s/ Ursula Wilson
Ursula Wilson Corporate Secretary
|Elgin, Illinois
March 20, 2001 |  |                                                    

IMPORTANT: The prompt return of proxies will save the Company the expense of further requests for proxies in order to ensure a quorum. A self-addressed envelope is
enclosed for your convenience. No postage is required if mailed in the United States.

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EFC BANCORP, INC.

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PROXY STATEMENT  ANNUAL MEETING OF SHAREHOLDERS  April 24, 2001

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This
proxy statement is being furnished in connection with the solicitation of proxies by the Board of Directors of EFC Bancorp, Inc. ("EFC" or the "Company") to be used at the
Annual Meeting of Shareholders of the Company. The Company is the holding company for Elgin Financial Savings Bank (the "Bank"). The annual meeting will be held on Tuesday, April 24, 2001 at
2:00 p.m. Central time at the Ramada Inn of Elgin, 345 West River Road, Elgin, Illinois. The 2000 Annual Report to Shareholders, including the consolidated financial statements of the Company
for the year ended December 31, 2000, accompanies this proxy statement which is first being mailed to shareholders on or about March 20, 2001.

Voting And Proxy Procedure    Who Can Vote at the Meeting

You are entitled to vote your EFC common stock if the records of the Company show that you held your shares as of the close of business on March 9,
2001. As of the close of business on that date, a total of 4,765,669 shares of EFC common stock were outstanding. Each share of common stock has one vote. However, as provided in the Company's
Certificate of Incorporation, recordholders of common stock that is beneficially owned, either directly or indirectly by a person beneficially owning in excess of 10% of the Company's outstanding
stock are not entitled to any vote in respect of the shares held in excess of the 10% limit.

Attending the Meeting

Your admission ticket to the annual meeting is included with this proxy statement. If you plan to attend the meeting, please bring your admission ticket with
you as youmusthave it in order to attend the meeting.

Vote Required

The annual meeting will be held if a majority of the outstanding shares of common stock entitled to vote is represented at the meeting. If you return valid
proxy instructions or attend the meeting in person, your shares will be counted for purposes of determining whether there is a quorum, even if you abstain from voting. Broker non-votes
also will be counted for purposes for determining the existence of a quorum. A broker non-vote occurs when a broker, bank or other nominee holding shares for a beneficial owner does not
vote on a particular proposal because the nominee does not have discretionary voting power with respect to that item and has not received voting instructions from the beneficial owner.

In
voting on the election of directors, you may vote in favor of all nominees, withhold votes as to all nominees, or withhold votes as to specific nominees. There is no cumulative
voting for the election of directors. Directors must be elected by a plurality of the votes cast at the annual meeting. This means that the nominees receiving the greatest number of votes will be
elected. Votes that are withheld and broker non-

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votes will have no effect on the outcome of the election. In voting on the ratification of the appointment of KPMG LLP as independent auditors, you may vote in favor of the proposal, vote against the
proposal or abstain from voting. This matter will be decided by the affirmative vote of a majority of the votes cast at the annual meeting and abstentions and broker non-votes will have no
effect on the voting.

Voting by Proxy

This proxy statement is being sent to you by the Board of Directors of the Company for the purpose of requesting that you allow your shares of EFC common stock
to be represented at the annual meeting by the persons named in the enclosed proxy card. All shares of EFC common stock represented at the meeting by
properly executed proxies will be voted in accordance with the instructions indicated on the proxy card. If you sign, date and return a proxy card without giving voting instructions, your shares will
be voted as recommended by the Company's Board of Directors. The Board of Directors recommends a vote "FOR" each of the nominees for director and
"FOR" ratification of KPMG LLP as independent auditors.

If
any matters not described in this proxy statement are properly presented at the annual meeting, the persons named in the proxy card will use their own judgment to determine how to
vote your shares. This includes a motion to adjourn or postpone the meeting in order to solicit additional proxies. If the annual meeting is postponed or adjourned, your Company common stock may be
voted by the persons named in the proxy card on the new meeting date as well, unless you have revoked your proxy. The Company does not know of any other matters to be presented at the meeting.

You
may revoke your proxy at any time before the vote is taken at the meeting. To revoke your proxy you must either advise the Secretary of the Company in writing before your common
stock has been voted at the annual meeting, deliver a later dated proxy, or attend the meeting and vote your shares in person. Attendance at the annual meeting will not in itself revoke your proxy.

If
your EFC common stock is held in street name, you will receive instructions from your broker, bank or other nominee that you must follow in order to have your shares voted. Your
broker or bank may allow you to deliver your voting instructions via the telephone or the Internet. Please see the instruction form that is provided by your broker, bank or other nominee and
accompanies this proxy statement. If you wish to change your voting instructions after you have returned your voting instruction form to your broker or bank, you must contact your broker or bank.

EFC
Bancorp will pay the cost of solicitation of proxies on behalf of its management. Proxies may be solicited personally or by telephone by directors, officers or other employees of
EFC Bancorp and the Bank without additional compensation. EFC Bancorp will also request persons, firms and corporations holding shares in their names, or in the name of their nominees, which are
beneficially owned by others, to send proxy materials to, and obtain proxies from, such beneficial owners, and will reimburse such persons for their reasonable expenses in doing so.

Proxies
solicited are to be returned to the Company's transfer agent, LaSalle Bank, N.A. The Board of Directors has designated LaSalle to act as inspectors of election and tabulate
the votes at the annual meeting. LaSalle is not otherwise employed by, or a director of, the Company or any of its affiliates. After the final adjournment of the annual meeting, the proxies will be
returned to the Company.

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Participants in the Bank's ESOP or 401(k) Plan

If you participate in the Bank's Employee Stock Ownership Plan or if you hold shares through the Bank's 401(k) Plan, you will have received with this proxy
statement a voting instruction form for each plan that reflects all shares that you may vote under the plans. Under the terms of the ESOP, all shares held by the ESOP are voted by the ESOP trustee,
but each participant in the ESOP may direct the trustee how to vote the shares of Company common stock allocated to his or her account. Unallocated shares of common stock held by the ESOP and
allocated shares for which voting instructions are not timely received will be voted by the ESOP trustee in the same proportion as shares for which the trustee received voting instructions, subject to
the exercise of its fiduciary duties. Under the terms of the 401(k) Plan, a participant is entitled to direct the trustee as to the shares in the EFC Bancorp Stock Fund credited to his or her account.
The trustee will vote all shares for which no directions are given or for which instructions were not timely received in the same proportion as shares for which the trustee received voting
instructions. The deadline for returning your voting instructions to each plan's trustee is April 17, 2001.

Stock Ownership

The following table provides information as of March 9, 2001 with respect to persons known by EFC Bancorp to be the beneficial owners of more than 5% of
its outstanding common stock. A person may be considered
to beneficially own any shares of common stock over which he or she has, directly or indirectly, sole or shared voting or investing power.

|Name and Address                                                                                    |  | Number of Shares Owned |     | Percent
of Common Stock
Outstanding |  
|--------------------------------------------------------------------------------------------------- |  | ---------------------- | --- | ----------------------------------- | -
|Elgin Financial Center,
S.B. Employee Stock
Ownership Plan
1695 Larkin Avenue
Elgin, Illinois 60123 |  | 599,314                | (1) | 12.58                               | %
|Elgin Financial Foundation
1695 Larkin Avenue
Elgin, Illinois 60123                                 |  | 463,421                | (2) | 9.72                                | %

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The
following table provides information about the shares of EFC common stock that may be considered to be owned by each director, nominee for director or named executive officer of
the Company and by all directors and executive officers of the Company as a group as of March 9, 2001. A person may be considered to own any shares of common stock over which he or she has,
directly or indirectly, sole or shared voting or investment power. Unless otherwise indicated, each of the named individuals has sole voting power and sole investment power with respect to the shares
shown.

|Name                                                         |                                                    | Number of Shares
Owned (excluding
options) |           | Number of
Shares That
May Be
Acquired
Within 60 Days
by Exercising
Options |  | Percent of
Common Stock
Outstanding(8) |  
|------------------------------------------------------------ | -------------------------------------------------- | ------------------------------------------ | --------- | -------------------------------------------------------------------------- |  | -------------------------------------- | -
|                                                             | Directors                                          |                                            |           |                                                                            |  |                                        |  
|Thomas I. Anderson                                           |                                                    | 44,000                                     | (1)(2)    | 9,000                                                                      |  | 1.06                                   | %
|John J. Brittain                                             |                                                    | 66,448                                     | (1)(3)(4) | 30,000                                                                     |  | 1.94                                   |  
|Barrett J. O'Connor                                          |                                                    | 68,538                                     | (1)(3)    | 40,000                                                                     |  | 2.18                                   |  
|James J. Kovac                                               |                                                    | 102,124                                    | (1)(3)(5) | 32,000                                                                     |  | 2.69                                   |  
|Vincent C. Norton                                            |                                                    | 28,368                                     | (1)(3)    | 12,000                                                                     |  | *                                      |  
|Ralph W. Helm.                                               |                                                    | 60,200                                     | (1)(6)    | 9,000                                                                      |  | 1.39                                   |  
|Leo M. Flanagan, Jr                                          |                                                    | 46,482                                     | (1)(3)(7) | 20,000                                                                     |  | 1.33                                   |  
|Peter A. Traeger                                             |                                                    | 31,000                                     | (1)       | 9,000                                                                      |  | *                                      |  
|James A. Alpeter                                             |                                                    | 7,000                                      | (1)       | 1,000                                                                      |  | *                                      |  
|                                                             | Named Executive Officer Who Is Not Also a Director |                                            |           |                                                                            |  |                                        |  
|R. Scott Reining                                             |                                                    | 5,279                                      | (1)(3)    | 2,100                                                                      |  | *                                      |  
|All directors and executive officers as a
group (16 persons) |                                                    | 599,456                                    |           | 216,100                                                                    |  | 16.37                                  |  

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Proposals to Be Voted on at The Meeting    Proposal 1. Election of Directors

EFC Bancorp's Board of Directors consists of nine members, of which four are independent and five are members of management. The Board is divided into three
classes, with approximately one-third of the directors elected each year. Each of the nine members of the Board of Directors also presently serves as a director of the Bank. Directors are
elected for staggered terms of three years each, with a term of office of one of the three classes expiring each year. Directors serve until their successors are elected and qualified. The nominees
proposed for election at the annual meeting are James J. Kovac, Vincent C. Norton, and Ralph W. Helm.

If
any nominee is unable to serve or declines to serve for any reason, it is intended that proxies will be voted for the election of the balance of those nominees named and for such
other persons as may be designated by the present Board of Directors. The Board of Directors has no reason to believe that any of the persons named will be unable or unwilling to serve. Neither
Mr. Norton nor Mr. Helm are being proposed for election pursuant to any agreement or understanding between either of them and the Company. The Company and the Bank have entered into an
employment agreement with Mr. Kovac (more fully described on page 9). While the Company is not required to nominate Mr. Kovac for election to the Board, the terms of his
employment agreement could be triggered if he is not elected to the Board.

The Board of Directors recommends that you vote "FOR" the election of all nominees named in this proxy statement.

Information with Respect to Nominees,  Continuing Directors and Certain Executive Officers

Information regarding the nominees for election at the annual meeting, as well as information regarding the directors continuing in office, is provided below.
Unless otherwise stated, each individual has held his current occupation for the last five years. The age indicated in each individual's biography is as of December 31, 2000. There are no
family relationships among the directors or executive officers. The indicated period for service as a director includes service as a director of the Bank.

Nominees for Election of Director

James J. Kovacis the Executive Vice President and Chief Financial Officer of the Company and Executive Vice
President, Chief Financial Officer and Treasurer of the Bank. Age 51. Director since 1986.

Vincent C. Nortonis the Senior Vice President-Loan Originations of the Bank. Age 67. Director since 1974.

Ralph W. Helmis the President of Ralph Helm Inc., a retail seller and servicer of outdoor power equipment. Age 68. Director
since 1991.

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Directors Continuing in Office

The following directors have terms ending in 2002:

Leo M. Flanagan, Jr.is the Vice Chairman of the Boards of Directors of the Company and the Bank. Mr. Flanagan is a partner in
the law firm of Brittain & Ketcham, P.C., which serves as the Company's and Bank's legal counsel. Age 58. Director since 1980.

Peter A. Traegeris the President and Chief Executive Officer of Artistic Carton Company, a manufacturer of recycled paperboard and
folding cartons. Age 42. Director since 1994.

James A. Alpeteris the owner and President of Andrews Packaging Company, a company that distributes industrial packaging products. Age
60. Director since 1999.

The
following directors have terms ending in 2003:

Thomas I. Andersonis the retired President of W.J. Dennis & Company, a packager and distributor of weatherstripping and related
products. Age 64. Director since 1986.

John J. Brittainis Chairman of the Boards of the Company and the Bank. Mr. Brittain is a partner in the law firm of
Brittain & Ketcham, P.C. which serves as the Company's and Bank's legal counsel. Age 69. Director since 1962.

Barrett J. O'Connoris the President and Chief Executive Officer of the Company and the Bank. Age 60. Director since 1984.

Named Executive Officer Who Is Not Also A Director

R. Scott Reiningis the Senior Vice President and Chief Commercial Lending Officer of the Bank.
Mr. Reining has been employed by the Bank since 1999. Age 45.

Meetings and Committees of the Board of Directors

The business of the Company and the Bank is conducted through meetings and activities of their Boards of Directors and their committees. The Board of Directors
of the Company meets at least on a quarterly basis and may have additional meetings as needed. During the fiscal year ended December 31, 2000, the Board of Directors of the Company held 12
meetings and the Board of Directors of the Bank held 16 meetings. No director attended fewer than 75% of the total meetings of the Board of Directors and committees on which such director served. The
Board of Directors of the Company maintains committees, the nature and composition of which are described below.

Audit Committee.The Audit Committee consists of Messrs. Alpeter, Anderson, Helm and
Traeger. The purpose of the Audit Committee is to assist the Board of Directors in fulfilling its oversight responsibilities by reviewing the financial reporting of the Company, performing risk
assessment, assessing processes relating to the Company's internal control environment, evaluating the internal and independent audit process, monitoring the independence and performance of the
Company's independent and internal auditors and ensuring controls are in place to help the Board oversee compliance with significant applicable legal, ethical and regulatory requirements. The Audit
Committee will also facilitate communication among

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the independent/internal auditors, management and the Board of Directors. The committee met four times in 2000.

Compensation Committee.The Compensation Committee consists of Messrs. Alpeter,
Anderson, Helm and Traeger. This committee is responsible for making recommendations to the full Board of Directors on all matters regarding compensation and fringe benefits. The committee met twice
in 2000.

Nominating Committee.The Nominating Committee consists of Messrs. Alpeter, Anderson and
Flanagan. The Nominating Committee considers and recommends the nominees for director to stand for election at the Company's Annual Meeting of Shareholders. The Company's Bylaws provide for
shareholder nominations of directors. These provisions require such nominations to be made pursuant to timely written notice to the Secretary of the Company. The shareholders' notice of nominations
must contain all information relating to the nominee which is required to be disclosed by the Company's Bylaws and by the Securities Exchange Act of 1934. See "Shareholder Proposals." The Nominating
Committee met on January 17, 2001.

Directors' Compensation

Fee Agreement.All directors of the Bank receive a fee of $2,000 for each regular and special
Board meeting which they attend. All outside directors of the Bank receive a fee of $200 to $300 (depending on the committee) for each committee meeting attended, except that no fees are paid for
attending a meeting of the Executive, Compensation or CRA Committees. All directors of the Company receive a $5,000 annual retainer, payable semi-annually.

Advisory Directors.The Bank maintains a board of advisory directors which consists of former
directors of the Bank. Pursuant to the Bank's Bylaws, directors must retire in the year they reach age 70 and any director who retires because of such age limitation is eligible to be appointed as an
advisory director. Advisory directors have no vote and receive meeting fees as determined by resolution of the directors of the Bank, currently $1,000 for each board meeting attended.

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Executive Compensation  Summary Compensation Table

The following information is furnished for the Chief Executive Officer and all other executive officers of EFC Bancorp and Elgin Financial Savings Bank who
received salary and bonus of $100,000 or more during the year ended December 31, 2000. These persons are sometimes referred to in the proxy statement as the "named executive officers."

|                                                                                                                                                                |  |                |     |   |                         |  |   | Long-Term Compensation |  |  
|--------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------------- | --- | - | ----------------------- |  | - | ---------------------- |  | -
|
|
|Barrett J. O'Connor
President and Chief Executive Officer of the Company and the Bank                                                                           |  | 2000
1999
1998 |     | $ | 215,000
206,000
200,000 |  | $ | 40,000
40,000
35,000   |  | $
|James J. Kovac
Executive Vice President and Chief Financial Officer of the Company; Executive Vice President, Chief Financial Officer and Treasurer of the Bank |  | 2000
1999
1998 |     | $ | 183,667
175,000
170,000 |  | $ | 35,000
35,000
40,000   |  | $
|John J. Brittain
Chairman of the Board of the Company and the Bank                                                                                              |  | 2000
1999
1998 |     | $ | 152,000
144,000
141,000 |  | $ | 30,000
30,000
25,000   |  | $
|Vincent C. Norton
Senior Vice PresidentLoan Originations of the Bank                                                                                           |  | 2000
1999
1998 |     | $ | 107,333
106,000
105,000 |  | $ | 18,500
18,500
18,000   |  | $
|R. Scott Reining
Senior Vice President, Chief Commercial Lending Officer of the Bank                                                                            |  | 2000
1999      | (4) | $ | 105,000
53,030          |  | $ | 15,000
10,000          |  | $

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Employment Agreements

The Company and Bank currently maintain three-year employment agreements with Messrs. O'Connor and Kovac. The terms of the Company
employment agreements are extended on a daily basis unless written notice of non-renewal is given by the Board of Directors and the terms of the Bank employment agreements are renewable on
an annual basis. The employment agreements provide that the executive's base salary will be reviewed at least annually. The base salaries which are currently effective for the employment agreements
for Messrs. O'Connor and Kovac are $190,000 and $158,000, respectively. In addition to the base salary, the employment agreements provide for, among other things, participation in stock
benefits plans and other fringe benefits applicable to executive personnel.

The
employment agreements provide for termination by the Company and Bank for cause, as described in the employment agreements, at any time. If the Company or Bank chooses to
terminate the executive's employment for reasons other than for cause, or if the executive resigns from the Company or Bank after specified circumstances that would constitute constructive
termination, the executive or, if the executive dies, his beneficiary, would be entitled to receive an amount equal to the base salary and bonus payments that would have been paid to the executive for
the remaining term of the employment agreement and the contributions that would have been made on the executive's behalf to any employee benefit plans of the Company and Bank during the remaining term
of the employment agreement. The Company and Bank would also continue the executive's life, health, medical, dental and disability
coverage for the remaining term of the employment agreement. Upon termination of the executive for reasons other than a change in control, the executive must comply with a one year
non-competition agreement.

Under
the employment agreements, if voluntary or involuntary termination follows a change in control of the Company or Bank (as described in the agreements), the executive or, if the
executive dies, his beneficiary, would be generally entitled to a severance payment equal to three times the average of the five preceding taxable years' annual compensation. The Company and Bank
would also continue the executive's life, health, and disability coverage for thirty-six months. Even though both the Company and Bank employment agreements provide for a severance payment
if a change in control occurs, the executive would not receive duplicative payments or benefits under the agreements. The executive would also be entitled to receive an additional tax indemnification
payment if payments under the employment agreements or otherwise triggered liability under the Internal Revenue Code for the excise tax applicable to "excess parachute payments." Under applicable law,
the excise tax is triggered by change in control-related payments that equal or exceed three times the executive's average annual compensation over the five years preceding the change in control. The
excise tax equals 20% of the amount of the payment in excess of one times the executive's average compensation over the preceding five-year period.

Change in Control Agreements

The Bank has entered into three-year change in control agreements with Messrs. Brittain and Norton. The Company has also entered into a
three-year change in control agreement with Mr. Brittain. The terms of the agreements are extended on a daily basis unless written notice of non-renewal is given by the
Board of Directors. The agreements provide that in the event that involuntary termination or voluntary termination subsequent to a constructive involuntary termination follows a change in control of
the Company or the Bank, the officer would be entitled to receive a severance payment equal to three times the officer's average annual compensation for the five most recent taxable years. The
executive would also be entitled to receive the additional tax indemnification payment described above, and the executive's life, medical and disability insurance would be continued for
thirty-six months following termination.

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Management Supplemental Executive Retirement Plan

The Bank currently maintains a Management Supplemental Executive Retirement Plan ("Management SERP") to provide certain officers and highly compensated
employees, designated by the Board of
Directors, with additional retirement benefits. The Management SERP benefit is intended to make up benefits lost under the ESOP allocation procedures to participants who retire prior to the complete
repayment of the ESOP loan. At the retirement of a participant, the benefits under the SERP are determined by first: (1) projecting the number of shares that would have been allocated to the
participant under the ESOP if they had been employed throughout the period of the ESOP loan (measured from the participant's first date of ESOP participation); and (2) reducing that number by
the number of shares actually allocated to the participant's account under the ESOP; and second, by multiplying the number of shares that represent the difference between these figures by the average
fair market value of the common stock over the preceding five years. Benefits under the Management SERP vest in 20% annual increments over a five-year period commencing as of the date of a
participant's participation in the Management SERP. The vested portion of the Management SERP participant's benefits are payable upon the retirement of the participant upon or after the attainment of
age 65.

Stock Option Plan

The EFC Bancorp, Inc. 2000 Stock Option Plan authorizes the issuance of non-qualified stock options to key officers and certain employees of
the Company and its subsidiaries. Subject to the general limits prescribed by the Stock Option Plan, the Compensation Committee has the authority to determine the individuals to whom stock options are
awarded, the terms of the options and the number of shares subject to each option. Although the Compensation Committee's decisions are discretionary and no specific formula is used in the decision
making, the number of options granted is based generally upon position level and performance. Through the award of stock options, the objective of aligning the long-range interests of the
executive officers with those of the shareholders is met by providing the executive officers with the opportunity to build a meaningful ownership stake in the Company. In 2000, options to purchase
9,500 shares of the Company's common stock were granted under the Stock Option Plan to R. Scott Reining. Mr. Reining's options become exercisable in five equal annual installments beginning on
July 18, 2001, have an exercise price of $9.50 and expire on July 18, 2010.

Stock Option Grants

The following table lists all grants of options under the Stock Option Plan to Mr. Reining for 2000 and contains certain information about the potential
value of those options based upon certain assumptions as to the appreciation of the Company's stock over the life of the option.

Option Grants in Last Fiscal Year

|                 |  |       |     |      |   |   |      |  |          | Potential Realizable Value at Assumed Annual Rates of Stock Price Appreciation for Options(2)
|---------------- |  | ----- | --- | ---- | - | - | ---- |  | -------- | ---------------------------------------------------------------------------------------------
|
|
|
|
|
|R. Scott Reining |  | 9,500 | (1) | 21.3 | % | $ | 9.50 |  | 07/18/10 |                                                                                              

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Fiscal Year-End Option Values

The following table provides certain information with respect to the number of shares of common stock represented by outstanding options held by
Messrs. O'Connor, Kovac, Brittain, Norton and Reining as
of December 31, 2000. Also reported are the values for "in-the-money" options which represent the positive spread between the exercise price of any such existing stock
options and the year-end price of the common stock.

|                       |  | Number of Securities Underlying Unexercised Options at Fiscal Year-End(#) |     | Value of Unexercised In-the-Money Options at Fiscal Year-End | 
|---------------------- |  | ------------------------------------------------------------------------- | --- | ------------------------------------------------------------ | 
|
|Barrett J. O'Connor(1) |  | 40,000                                                                    |     | 60,000                                                       | 
|James J. Kovac(1)      |  | 32,000                                                                    |     | 48,000                                                       | 
|John J. Brittain(1)    |  | 30,000                                                                    |     | 45,000                                                       | 
|Vincent C. Norton(1)   |  | 12,000                                                                    |     | 18,000                                                       | 
|R. Scott Reining       |  | 2,100                                                                     | (2) | 17,900                                                       | 

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The reports of the Compensation and Audit Committees and the stock performance graph shall not be deemed incorporated by reference by any general statement
incorporating by reference this proxy statement into any filing under the Securities Act of 1933 (the "Securities Act") or the Securities Exchange Act of 1934 (the "Exchange Act"), except as to the
extent that the Company specifically incorporates this information by reference, and shall not otherwise be deemed filed under such Acts.

Compensation Committee Report on Executive Compensation

Under rules established by the SEC, the Company is required to provide certain data and information in regard to the compensation and benefits provided to the
Company's chief executive officer and the other executive officers of the Company. The disclosure requirements for these executive officers include the use of tables and a report explaining the
rationale and considerations that led to fundamental compensation decisions affecting those individuals. In fulfillment of this requirement, the Company's Compensation Committee, at the direction of
the Board of Directors, has prepared the following report for inclusion in this proxy statement.

Compensation Policies.The policies and objectives of the Compensation Committee are designed
to assist the Company in attracting and retaining qualified executives, to recognize individual contributions toward achieving strategic business initiatives and reward them for their achievement and
to closely align the financial interests of the executive officers with those of its shareholders. In furtherance of these objectives, the Company and Bank maintain a compensation program for
executive officers which consists of both cash and equity based compensation.

11

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The Compensation Committee, all of whom are independent Board members, determine the compensation for the Chairman of the Board, Chief Executive Officer and Chief Financial Officer,
generally based upon a review of their performance during the prior year and competitive data for that position. For compensation of executive officers, other than themselves, the Chief Executive
Officer and the Chief Financial Officer make recommendations to the Compensation Committee for the compensation of all executive officers of the Bank. In this process, the officers are evaluated as to
their performance during the year and compared to the Bank's performance and thrift industry compensation surveys for comparable positions at other thrift institutions. The Compensation Committee
generally follows management's recommendations.

The
compensation package available to executive officers is composed of the following components:



Base Salaries.Salary levels are intended to be consistent and competitive with the practices
of other comparable financial institutions and each executive's level of responsibility. The Compensation Committee utilized the "2000 America's Community Bankers Compensation Survey" in determining
the compensation paid to executive officers performing similar duties for depository institutions and their holding companies with particular focus on the level of compensation paid by comparable
institutions in the $300 million to $500 million and the $500 million to $1 billion asset size in the East North Central Region which includes Illinois, Indiana, Michigan,
Ohio and Wisconsin.

Although
the Compensation Committee's recommendations are discretionary and no specific formula is used for decision making, salary increases are aimed at reflecting the overall
performance of the Company and the performance of the individual executive officer.

Annual Cash Incentive Awards.As discussed under"Base
Salaries,"cash incentive awards are intended to be consistent with comparative practices of other comparable financial institutions and each executive officer's level of
responsibility, as reported in the "2000 America's Community Bankers Compensation Survey." Such awards are based on the Committee's subjective determinations of the executive officer's performance
during the year.

Long Term Incentive Compensation.The Company maintains the EFC Bancorp, Inc. 1998
Stock-Based Incentive Plan and the Stock Option Plan under which executive officers may receive grants and awards of common stock and options to purchase common stock of the Company. The Compensation
Committee believes that stock ownership is a significant incentive in building shareholder value and aligning the interests of employees with shareholders. The value of this component of compensation
increases as the common stock of the Company appreciates in value.

12

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Chief Executive Officer Compensation.The base salary of Barrett J. O'Connor as the Chief
Executive Officer for fiscal year 2000 was $183,000. This salary is in line with similar-sized public thrifts in Illinois as reported by the "SNL Executive Compensation Review." The Compensation
Committee authorized a 2000 cash incentive award to Barrett J. O'Connor in the amount of 21.9% of his 2000 base salary.

Submitted by the Compensation Committee of EFC Bancorp's Board of Directors
Peter A. Traeger, Chairman
James A. Alpeter
Thomas I. Anderson
Ralph W. Helm

Report Of the Audit Committee

The Audit Committee of the Board of Directors is responsible for assisting the Board in fulfilling its responsibility to the shareholders relating to corporate
accounting, reporting practices and the quality and integrity of the financial reports of the Company. Additionally, the Audit Committee selects the independent auditors and reviews their independence
and their annual audit. The Audit Committee is comprised of four directors, each of whom is independent under the AMEX listing standards. The Audit Committee acts under a written charter adopted by
the Board of Directors, a copy of which is attached to this proxy statement as Appendix A.

Management
is responsible for the Company's internal controls and financial reporting process. The independent accountants are responsible for performing an independent audit of the
Company's consolidated financial statements in accordance with generally accepted auditing standards and to issue a report thereon. The Audit Committee's responsibility is to monitor and oversee these
processes.

In
connection with these responsibilities, the Audit Committee met with management and the independent accountants to review and discuss the December 31, 2000 financial
statements. The Audit Committee also discussed with the independent accountants the matters required by Statement on Auditing Standards No. 61 (Communication with Audit Committees). The Audit
Committee also received written disclosures from the independent accountants required by Independence Standards
Board Standard No. 1 (Independence Discussions with Audit Committees), and the Audit Committee discussed with the independent accountants that firm's independence.

Based
on such review and discussions, the Audit Committee recommended that the Board of Directors include the audited consolidated financial statements in the Company's Annual Report
on Form 10-K for the year ended December 31, 2000 for filing with the Securities and Exchange Commission.

Thomas I. Anderson, Chairman  James A. Alpeter  Ralph W. Helm  Peter A. Traeger

13

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Stock Performance Graph.The following graph shows a comparison of shareholder return on the
Company's common stock based on the market price of common stock assuming the reinvestment of dividends, with the cumulative total returns for the companies on the American Stock Exchange Index and
the MG Index for Savings and Loans for the period beginning on April 6, 1998, the day the Company's common stock began trading, through December 31, 2000. The graph was derived from a
limited period of time and, as a result, may not be indicative of possible future performance of the Company's common stock. The data was supplied by Media General Financial Services, a data service
provider for publicly traded financial institutions.

Comparative Total Returns  EFC Bancorp, Inc., The AMEX Market Index and  The MG Index For Savings and Loans

LOGO

14

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Compliance with Section 16(a) of the Exchange Act

Section 16(a) of the Securities Exchange Act of 1934 requires the Company's executive officers and directors, and persons who own more than 10% of any
registered class of the Company's equity securities, to file reports of ownership and changes in ownership with the SEC. Executive officers, directors and greater than 10% shareholders are required by
regulation to furnish the Company with copies of all Section 16(a) reports they file.

Based
solely on its review of the copies of the reports of ownership furnished to the Company, or written representations that no forms were necessary, the Company believes that
during the past fiscal year its officers and directors have complied with all applicable filing requirements; however, the Elgin
Financial Foundation filed an initial Form 3 more than ten days following the date it became a greater-than-10% shareholder.

Transactions with Management

The Bank offers directors, officers and full-time employees of the Bank who satisfy certain criteria and the general underwriting standards of the
Bank, adjustable-rate mortgage loans with interest rates which may be up to 1% below the rates offered to the Bank's other customers. This program is called the Employee Mortgage Rate
("EMR"). The EMR is limited to the purchase or refinance of a director's, officer's or employee's owner-occupied primary residence. Loan application fees are waived for all EMR loans. The EMR normally
ceases upon termination of employment. Upon termination of the EMR, the interest rate reverts to the contract rate in effect at the time that the loan was originated. All other terms and conditions
contained in the original mortgage and note continue to remain in effect. With the exception of EMR loans, the Bank currently makes loans to its executive officers, directors and employees on the same
terms and conditions offered to the general public. Set forth below is certain information with respect to the EMR loans made by the Bank to executive officers or directors of the Bank or the Company
and their affiliates which in the aggregate exceeded $60,000 at any time since January 1, 2000.

|Name              |  | Position                            |  | Date
of Loan |  | Maturity
Date
of Loan |  | Largest
Amount
Outstanding
Since
January 1,
2000 |         | Balance
as of
February 28,
2001 |   | Interest
Rate as of
February 28,
2001 | 
|----------------- |  | ----------------------------------- |  | ------------ |  | --------------------- |  | ------------------------------------------------ | ------- | ------------------------------- | - | ------------------------------------- | 
|Alpeter, James    |  | Director                            |  | 04/30/99     |  | 05/01/29              |  | $                                                | 285,942 |                                 | $ |                                      | 
|Alpeter, James    |  | Director                            |  | 01/02/01     |  | 02/01/31              |  |                                                  | 380,000 |                                 |   | 360,000                               | 
|Anderson, Thomas  |  | Director                            |  | 11/18/00     |  | 01/01/31              |  |                                                  | 320,000 |                                 |   | 317,605                               | 
|Brittain, John    |  | Chairman                            |  | 02/03/98     |  | 03/01/03              |  |                                                  | 72,748  |                                 |   | 41,672                                | 
|Flanagan, Leo     |  | Vice Chairman                       |  | 03/09/98     |  | 04/01/13              |  |                                                  | 143,498 |                                 |   | 132,522                               | 
|Gosse, Jerry      |  | Compliance Off.                     |  | 03/20/97     |  | 03/01/27              |  |                                                  | 135,000 |                                 |   | 132,535                               | 
|Helm, Ralph       |  | Director                            |  | 08/21/99     |  | 09/01/29              |  |                                                  | 415,912 |                                 |   | 410,063                               | 
|Kovac, James      |  | C.F.O/Executive Vice Pres./Director |  | 04/19/00     |  | 05/01/30              |  |                                                  | 144,000 |                                 |   | 141,791                               | 
|Norton, Vincent   |  | Senior Vice Pres./Director          |  | 02/02/98     |  | 03/01/13              |  |                                                  | 104,410 |                                 |   | 97,440                                | 
|O'Connor, Barrett |  | C.E.O./ Director                    |  | 02/20/98     |  | 03/01/13              |  |                                                  | 132,640 |                                 |   | 135,677                               | 
|Schneff, James    |  | Senior Vice President               |  | 04/19/00     |  | 05/01/20              |  |                                                  | 165,600 |                                 |   | 161,703                               | 
|Traeger, Peter    |  | Director                            |  | 06/10/99     |  | 07/01/29              |  |                                                  | 426,867 |                                 |   | 419,075                               | 

John J. Brittain and Leo M. Flanagan, Jr. are partners in the law firm of Brittain & Ketcham, P.C., which acts as counsel to the Company
and the Bank. During 2000, the Company and the Bank made payments to the firm for legal services totaling $17,386.

15

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Proposal 2. Ratification of the Appointment of  Independent Auditors

The Company's independent auditors for the year ended December 31, 2000 were KPMG LLP. The Company's Board of Directors has reappointed KPMG LLP to
continue as independent auditors for the Company for the fiscal year ending December 31, 2001, subject to ratification of such appointment by the shareholders.

Representatives
of KPMG LLP will be present at the annual meeting. They will be given an opportunity to make a statement if they desire to do so and will be available to respond to
appropriate questions from shareholders present at the annual meeting.

The Board of Directors recommends that you vote "FOR" ratification of the appointment of KPMG LLP as the independent auditors of the
Company.

Audit Fees

The aggregate fees that KPMG LLP billed EFC Bancorp for professional services rendered for the annual audit of the Company's financial statements and for the
review of the condensed financial statements included in the Company's quarterly reports on Forms 10-Q for the fiscal year 2000 totaled $69,300.

All Other Fees

The aggregate fees KPMG LLP billed EFC Bancorp for all other non-audit services, including fees for tax-related services, during fiscal
year 2000 totaled $94,575. The Audit Committee believes that the non-audit fees paid to KPMG LLP are compatible with maintaining KPMG LLP's independence.

16

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Additional Information    Shareholder Proposals

To be considered for inclusion in the Company's proxy statement and form of proxy relating to the 2002 Annual Meeting of Shareholders, a shareholder proposal
must be received by the Secretary of the Company at the address set forth on the Notice of Annual Meeting of Shareholders not later than November 21, 2001. If such Annual Meeting is held on a
date more than 30 calendar days from April 24, 2002, a shareholder proposal must be received by a reasonable time before the proxy solicitation for such Annual Meeting is made. Any such
proposal will be subject to 17 C.F.R. §240.14a-8 of the Rules and Regulations under the Exchange Act.

Notice of Business to be Conducted at an Annual Meeting

The Bylaws of the Company set forth the procedures by which a shareholder may properly bring business before a meeting of shareholders. Pursuant to the Bylaws,
only business brought by or at the direction of the Board of Directors may be conducted at a special meeting. The Bylaws of the Company provide an advance notice procedure for a shareholder to
properly bring business before an annual meeting. The shareholder must give written advance notice to the Secretary of the Company not less than 90 days before the date originally fixed for
such meeting;provided, however, that in the event that less than 100 days' notice or prior public disclosure of the date of the meeting is given
or made to shareholders, notice by the shareholder to be timely must be received not later than the close of business on the tenth day following the date on which the Company's notice to shareholders
of the annual meeting date was mailed or such public disclosure was made. In order for a shareholder to bring business before the Company's 2002 Annual Meeting of Shareholders, the Company would have
to receive notice of such business no later than January 25, 2002, assuming the 2002 annual meeting is held on April 24, 2002 and that the Company provides at least 100 days'
notice of the meeting. The advance notice by shareholders must include the shareholder's name and address as they appear on the Company's record of shareholders, a brief description of the proposed
business, the reason for conducting such business at the annual meeting, the class and number of shares of the Company's capital stock that are beneficially owned by such shareholder and any material
interest of such shareholder in the proposed business. In the case of nominations to the Board of Directors, certain information regarding the nominee must be provided. Nothing in this paragraph shall
be deemed to require the Company to include in its proxy statement or the proxy relating to any annual meeting any shareholder proposal which does not meet all of the requirements for inclusion
established by the SEC in effect at the time such proposal is received.

Other Matters Which May Properly Come Before the Meeting

The Board of Directors knows of no business which will be presented for consideration at the annual meeting other than as stated in the Notice of Annual
Meeting of Shareholders. If, however, other matters are properly brought before the annual meeting, it is the intention of the persons named in the accompanying proxy to vote the shares represented
thereby on such matters in accordance with their best judgment.

17

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Miscellaneous

The Company's Annual Report to Shareholders has been mailed to all persons who were shareholders as of the close of business on March 9, 2001. Any
shareholder who has not received a copy of the annual report may obtain a copy by writing to the Secretary of the Company. The annual report is not to be treated as part of the proxy solicitation
material or as having been incorporated herein by reference.

A copy of the Company's Form 10-K for the fiscal year dated December 31, 2000, as filed with the SEC, will be furnished without
charge to all persons who were shareholders as of the close of business on March 9, 2001 upon written request to Jerry L. Gosse, EFC Bancorp, Inc., 1695 Larkin Avenue, Elgin, Illinois
60123.

| | BY ORDER OF THE BOARD OF DIRECTORS
| | ----------------------------------
| | /s/ Ursula Wilson                 
| | Ursula Wilson Corporate Secretary 

Elgin, Illinois
March 20, 2001

You are cordially invited to attend the meeting in person. Whether or not you plan to  attend the meeting, you are requested to sign, date and promptly return the  accompanying proxy card in the enclosed
postage-paid envelope.

18

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APPENDIX A

EFC Bancorp, Inc.  Audit Committee Charter

I.  PURPOSE

There shall be a committee of the Board of Directors to be known as the Audit Committee ("Committee"). The primary function of the Committee is to assist the
Board of Directors in fulfilling its oversight responsibilities by reviewing the financial reporting of the Company, performing risk assessment, assessing processes relating to the Company's internal
control environment, evaluating the internal and independent audit process, monitoring the independence and performance of the Company's independent and internal auditors and ensuring controls are in
place to help the Board oversee compliance with significant applicable legal, ethical and regulatory requirements. The Committee will also facilitate communication among the independent/internal
auditors, management and the Board of Directors.

II.  COMPOSITION AND MEETINGS

The Committee shall be comprised of at least three directors who are independent of management of EFC Bancorp, Inc. and are free of any relationship
that, in the opinion of the board of directors, would interfere with their exercise of independent judgment as a committee member.

The
members of the Committee shall be appointed by the full Board at the annual organizational meeting. All members of the Committee shall have a basic understanding of finance and
accounting, be able to read and understand fundamental financial statements and at least one member of the Committee shall have past employment experience in finance or accounting, requisite
professional certification in accounting or other comparable experience or background that results in this individual's accounting or related financial expertise. The Committee shall meet four times
annually or
more frequently as circumstances dictate. At least a majority of the Committee shall be present for action to be taken.

A-1

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An agenda, consistent with this Charter, shall be prepared by the Chairman of the Committee for each scheduled meeting. The Committee, if deemed necessary, will meet privately in
executive session at least annually with management, internal and independent auditors and as a committee to discuss any matters that the Committee or each of these groups believe should be discussed.
The Committee, with input from management will develop an agenda and procedures for review of the Company's quarterly data, its year end audit, the procedures results of the internal audit and the
review of the independence of its accountants. The Committee will review and reassess the adequacy of the Charter at least annually. This Charter will be submitted to the Board of Directors for
approval and have the document published in the Company's Proxy Statement at least every three years in accordance with the Securities and Exchange Commission regulations.

III. RESPONSIBILITIES AND DUTIES

The Committee shall report periodically, as deemed necessary, but at least semi-annually to the full Board. The Committee shall provide assistance
to the directors in fulfilling their responsibility relating to the following areas:





A-2

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A-3

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In
carrying out their responsibilities, the Committee believes its policies and procedures should remain flexible in order that it can best react to changing conditions and
environment and to assure the directors that the accounting practices of the Company are in accordance with all requirements and are of the highest quality.

While
the Committee has the responsibility and powers set forth in this Charter, it is not the duty of the Committee to plan or conduct audits or to determine that the Company's
financial statements are complete and accurate and in accordance with generally accepted accounting principles. This is the responsibility of management and the independent auditors. Nor is it the
duty of the Committee to conduct investigations, to resolve disagreements, if any, between management and the independent auditor or to assure compliance with laws and regulations.

A-4

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March 20,
2001

Dear
401(k) Plan Participant:

On
behalf of the Board of Directors, I am forwarding you the attached vote authorization form for the purpose of conveying your voting instructions to HSBC Bank USA (the "Employer Stock Fund Trustee")
on the proposals presented at the Annual Meeting of Shareholders of EFC Bancorp, Inc. (the "Company") on April 24, 2001. Also enclosed is a Notice and Proxy Statement for the Company's
Annual Meeting of Shareholders and the EFC Bancorp, Inc. Annual Report to Shareholders.

As
a 401(k) Plan participant investing in the Employer Stock Fund you are entitled to direct the Employer Stock Fund Trustee as to the voting of shares of Company common stock credited to your
account. The Employer Stock Fund Trustee will vote all shares for which no directions are given or for which timely instructions were not received in a manner calculated to most accurately reflect the
voting instructions the Employer Stock Fund Trustee receives from 401(k) Plan participants.

At
this time, in order to direct the voting of your shares of Company common stock held in the Employer Stock Fund, you must complete and sign the enclosed vote authorization form and return it to the
Employer Stock Fund Trustee in the accompanying postage-paid envelope no later than April 17, 2001. Your vote will not be revealed, directly or indirectly, to any officer, employee
or director of the Company or Elgin Financial Savings Bank. The votes will be tallied by the Employer Stock Fund Trustee and the Employer Stock Fund Trustee will use the voting instructions it
receives to vote the shares of Company common stock held in the Employer Stock Fund Trust.



---

NAME
SHARES

VOTE AUTHORIZATION FORM

I,
the undersigned, understand that HSBC Bank USA, the Employer Stock Fund Trustee, is the holder of record and custodian of all shares attributed to me of EFC Bancorp, Inc.
common stock under the Elgin Financial Savings Bank 401(k) Plan. I understand that my voting instructions are solicited on behalf of the Company's Board of Directors for the Annual Meeting of
Shareholders to be held on April 24, 2001.

Accordingly,
you are to vote my shares as follows:

|1. |  |    |  | The election as directors of all nominees listed (except as marked to the contrary below).                                                    
|-- |  | -- |  | ----------------------------------------------------------------------------------------------------------------------------------------------
|   |  |    |  | FOR
/ /                                                                                                                                       
|   |  |    |  | James J. Kovac                                                                                                                                
|   |  |    |  | INSTRUCTION: To withhold your vote for any individual nominee, mark "For All Except" and write that nominee's name on the line provided below.
|   |  |    |  |                                                                                                                                               
|   |  | 2. |  | The ratification of the appointment of KPMG LLP as independent auditors of EFC Bancorp, Inc. for the year ending December 31, 2001.           
|   |  |    |  | FOR
/ /                                                                                                                                       

THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR" EACH OF THE PROPOSALS PRESENTED.

I understand that my voting instructions are solicited on behalf of HSBC Bank USA, the Employer Stock Fund Trustee, for the Company's Annual Meeting of
Shareholders to be held on April 24, 2001.

|Date |  | Signature
|---- |  | ---------

Please date, sign and return this form in the enclosed postage-paid envelope no later than April 17, 2001.

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March 20,
2001

Dear
ESOP Participant:

On
behalf of the Board of Directors, I am forwarding to you the attached vote authorization form for the purpose of conveying your voting instructions to HSBC Bank USA (the "ESOP
Trustee") on the proposals presented at the Annual Meeting of Shareholders of EFC Bancorp, Inc. (the "Company") on April 24, 2001. Also enclosed is a Notice and Proxy Statement for the
Company's Annual Meeting of Shareholders and the EFC Bancorp, Inc. Annual Report to Shareholders.

As
of the Record Date, March 9, 2001, the ESOP Trust held 599,314 shares of Company common stock, 119,862 shares of which have been allocated to participants' accounts. These
allocated shares of Company common stock will be voted as directed by the participants; provided timely instructions from the participants are received by the ESOP Trustee. The unallocated shares of
Company common stock in the ESOP Trust and the allocated shares of Company common stock for which no instructions are provided, or for which no timely instructions are received by the ESOP Trustee
will be voted by the ESOP Trustee in a manner calculated to most accurately reflect the instructions the ESOP Trustee has received from participants regarding the shares of Company common stock
allocated to their accounts, so long as such vote is in accordance with the Employee Retirement Income Security Act of 1974, as amended.

At
this time, in order to direct the voting of shares of Company common stock allocated to your account under the ESOP, please complete and sign the enclosed vote authorization form
and return it in the enclosed postage-paid envelope no later than April 17, 2001. Your vote will not be revealed, directly or indirectly, to any officer, employee or director of the
Company or Elgin Financial Savings Bank. The votes will be tallied by the ESOP Trustee and the ESOP Trustee will use the voting instructions it receives to vote the shares of Company common stock in
the ESOP Trust.

| |  | Sincerely,                                                              
| |  | ------------------------------------------------------------------------
| |  | /s/ John J. Brittain
John J. Brittain Chairman of the Board of Directors

---

|Name |  | Shares
|---- |  | ------

VOTE AUTHORIZATION FORM

I, the undersigned, understand that HSBC Bank USA, the ESOP Trustee, is the holder of record and custodian of all shares attributed to me of EFC
Bancorp, Inc. (the "Company") common stock under the Elgin Financial Savings Bank Employee Stock Ownership Plan. Further, I understand that my voting instructions are solicited on behalf of the
Company's Board of Directors for the Annual Meeting of Shareholders to be held on April 24, 2001.

Accordingly,
you are to vote my shares as follows:

|1. |  | The election as directors of all nominees listed (except as marked to the contrary below).
|-- |  | ------------------------------------------------------------------------------------------
|   |  |                                                                                           
|   |  |                                                                                           
|   |  |                                                                                           
|   |  | 2.                                                                                        
|   |  |                                                                                           

THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR" EACH OF THE PROPOSALS PRESENTED.

The ESOP Trustee is hereby authorized to vote any shares attributed to me in its trust capacity as indicated above.

|Date |  | Signature
|---- |  | ---------

Please date, sign and return this form in the enclosed postage-paid envelope no later than April 17, 2001.

---

March 20,
2001

Dear
Stock Award Recipient:

On
behalf of the Board of Directors, please find enclosed a vote authorization form, for the purpose of conveying your voting instructions to First Bankers Trust Company, N.A. (the
"Incentive Plan Trustee") on the proposals presented at the Annual Meeting of Shareholders of EFC Bancorp, Inc. (the "Company") on April 24, 2001.  Also enclosed is a
Notice of Proxy Statement for the Company's Annual Meeting of Shareholders and the EFC Bancorp, Inc. Annual Report to Shareholders.

As
of the Record Date, March 9, 2001, 66,520 shares of Company common stock were held in the Incentive Plan Trust and awarded to participants under the Incentive Plan.
  The Incentive Plan Trustee will vote those shares of Company common stock in accordance with instructions received from Stock Award recipients.

At
this time, in order to direct the voting of Company common stock awarded to you under the Incentive Plan, please complete and sign the enclosed vote authorization form and return
it in the accompanying postage-paid envelope no later than April 17, 2001. Your vote will not be revealed, directly or indirectly, to any officer, employee or director of the
Company or Elgin Financial Savings Bank. The votes will be tallied by the Incentive Plan Trustee and the Incentive Plan Trustee will use the voting instructions it receives to vote the shares of
Company common stock held in the Incentive Plan Trust.

| |  | Sincerely,                                                              
| |  | ------------------------------------------------------------------------
| |  | /s/ John J. Brittain
John J. Brittain Chairman of the Board of Directors

---

|Name |  | Shares
|---- |  | ------

VOTE AUTHORIZATION FORM

I, the undersigned, understand that First Bankers Trust Company, N.A., the Incentive Plan Trustee, is the holder of record and custodian of all shares
attributed to me of EFC Bancorp, Inc. common stock under the Incentive Plan. I understand that my voting instructions are solicited on behalf of the Company's Board of Directors for the Annual
Meeting of Shareholders to be held on April 24, 2001.

Accordingly,
you are to vote my shares as follows:

|1. |  | The election as directors of all nominees listed (except as marked to the contrary below).
|-- |  | ------------------------------------------------------------------------------------------
|   |  |                                                                                           
|   |  |                                                                                           
|   |  |                                                                                           
|   |  | 2.                                                                                        
|   |  |                                                                                           

THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR" EACH OF THE PROPOSALS PRESENTED.

I understand that my voting instructions are solicited on behalf of First Bankers Trust Company, N.A., the Incentive Plan Trustee, for the Company's Annual
Meeting of Shareholders to be held on April 24, 2001.

|Date |  | Signature
|---- |  | ---------

Please date, sign and return this form in the enclosed postage-paid envelope no later than April 17, 2001.

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