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[Luse Lehman Gorman Pomerenk & Schick letterhead]
Exhibit 5
(202) 274-2000
January 15, 2001
The Board of Directors
Chesterfield Financial Corp.
10801 South Western Avenue
Chicago, Illinois 60643
Re: Chesterfield Financial Corp.
Common Stock Par Value $.01 Per Share
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Ladies and Gentlemen:
You have requested the opinion of this firm as to certain matters in
connection with the offer and sale (the "Offering") of Chesterfield Financial
Corp. (the "Company") Common Stock, par value $.01 per share ("Common Stock").
We have reviewed the Company's Certificate of Incorporation, Registration
Statement on Form S-1 (the "Form S-1"), as well as applicable statutes and
regulations governing the Company and the offer and sale of the Common Stock.
We are of the opinion that upon the declaration of effectiveness of the
Form S-1, the Common Stock, when sold, will be legally issued, fully paid and
non-assessable.
This Opinion has been prepared solely for the use of the Company in
connection with the Form S-1. We hereby consent to our firm being referenced
under the caption "Legal and Tax Matters."
Very truly yours,
/s/ LUSE LEHMAN GORMAN POMERENK & SCHICK
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LUSE LEHMAN GORMAN POMERENK & SCHICK
A PROFESSIONAL CORPORATION
