<PAGE> 1

 As  filed  with  the  Securities  and  Exchange  Commission  on  June 11, 1998
                                                    Registration No. 333-
                                                                         -------
================================================================================
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                    FORM S-8
                            REGISTRATION STATEMENT
                       UNDER THE SECURITIES ACT OF 1933

                               EFC BANCORP, INC.
 (exact name of registrant as specified in its certificate of incorporation)

           DELAWARE                        6036                   36-4193304
(state or other jurisdiction of     (Primary Standard           (IRS Employer
incorporation or organization)  Classification Code Number)  Identification No.)
                                
                              1695 LARKIN AVENUE
                            ELGIN, ILLINOIS 60123
                                (847) 741-3900
             (Address, including zip code, and telephone number,
      including area code, of registrant's principal executive offices)

                         ELGIN FINANCIAL CENTER S.B.
                         401(K) EMPLOYEE BENEFIT PLAN
                           (Full Title of the Plan)
                         ----------------------------

BARRETT J. O'CONNOR                       COPIES TO:
PRESIDENT AND CHIEF EXECUTIVE OFFICER     LORI M. BERESFORD, ESQUIRE
ELGIN FINANCIAL CENTER, S.B.              KENT M. KRUDYS, ESQUIRE
1695 LARKIN AVENUE                        MULDOON, MURPHY & FAUCETTE
ELGIN, ILLINOIS 60123                     5101 WISCONSIN AVENUE, N.W.
(847) 741-3900                            WASHINGTON, D.C.  20016
                                          (202) 362-0840
(Name, address, including zip code, and telephone
number, including area code, of agent for service)

APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO PUBLIC:  As soon as
                practicable after this Registration Statement
                           becomes effective.
If any of the  securities  being  registered on this Form are to be offered on a
delayed or continuous  basis  pursuant to Rule 415  under the  Securities Act of
1933, check the following box. / X /
                               ----

================================================================================
Title of each Class    Amount        Proposed        Estimated      Registration
of Securities to       to be      Purchase Price     Aggregate          Fee
 be Registered       Registered    Per Shares(1)  Offering Price(2)
--------------------------------------------------------------------------------
   Common Stock
  $.01 par Value      246,095         $13.53         $3,329,665       $982.25
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
   Participation
     Interests          (3)                          $3,329,677         (4)
================================================================================
(1) The  average of the high and low prices of the Common  Stock of EFC Bancorp,
    Inc. on the American Stock Exchange on June 4, 1998, in accordance with Rule
    457(c) under the Securities Act of 1933, as amended (the "Securities Act").
(2) Estimated solely for the purpose of calculating the registration fee.
(3) In  addition, pursuant  to  Rule  416(c)  under  the  Securities  Act,  this
    registration  statement also covers an  indeterminate amount of interests to
    be offered or sold pursuant to the employee benefit plan described herein.
(4) The  securities of EFC  Bancorp, Inc. (the "Company" or the "Registrant") to
    be  purchased by the Elgin Financial  Center,  S.B. 401(k) Employee  Benefit
    Plan  are included  in  the amount  shown  for  Common  Stock.  Accordingly,
    pursuant  to  Rule   457(h)(2),  no   separate  fee   is  required  for  the
    participation   interests.   In   accordance  with  Rule  457( h)  under the
    Securities Act, the registration fee has been calculated on the basis of the
    number  of shares of  Common Stock  that may  be purchased  with the current
    assets of such Plan.

THIS  REGISTRATION  STATEMENT SHALL BECOME EFFECTIVE  IMMEDIATELY UPON FILING IN
ACCORDANCE  WITH SECTION 8(A) OF THE  SECURITIES  ACT OF 1933, AS AMENDED,  (THE
"SECURITIES ACT") AND 17 C.F.R. SS.230.462.

Number of Pages 11
Exhibit Index begins on Page 9


<PAGE> 2


EFC BANCORP, INC.

PART I     INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS

ITEMS 1 & 2. The  documents  containing  the  information  for  Elgin  Financial
Center,  S.B. 401(k) Employee Benefit Plan ("401(k) Plan") required by Part I of
the  Registration  Statement  will be sent or given to the  participants  in the
401(k) Plan as specified by Rule  428(b)(1).  Such  documents are not filed with
the  Securities  and Exchange  Commission  (the "SEC")  either as a part of this
Registration  Statement or as a prospectus or prospectus  supplement pursuant to
Rule 424 in reliance on Rule 428.

PART II   INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.  INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

The following  documents  filed or to be filed with the SEC are  incorporated by
reference in this Registration Statement:

      (a)  The  Prospectus  filed  with  the  SEC by the  Registrant  (File  No.
333-38637)  and declared  effective on February  12,  1998,  which  includes the
consolidated  balance sheets of Elgin Financial  Center,  S.B. and  Subsidiaries
(the "Bank")  (the Company did not acquire the Bank until April 3, 1998),  as of
December 31, 1996, and 1995, and as of September 30, 1997  (unaudited),  and the
related consolidated statements of operation,  changes in retained earnings, and
cash flows for each of the years in the  three-year  period  ended  December 31,
1996 and the nine months ended September 30, 1997 (unaudited), together with the
related  notes and the report of KPMG Peat  Marwick LLP,  independent  certified
public accountants.

      (b) The Form 10-K  report  filed by the  Company for the fiscal year ended
December 31, 1997 (File No. 1-13605) filed with the SEC on March 31, 1998.

      (c) The Form 10-Q report filed by the Company for the quarter  ended March
31, 1998 (File No. 1- 13605), as filed with the SEC on May 15, 1998.

      (d) The description of Registrant's Common Stock contained in Registrant's
Form 8-A (File No. 1-13605),  as filed with the SEC pursuant to Section 12(g) of
the  Securities  Exchange  Act of 1934 (the  "Exchange  Act"),  and rule  12b-15
promulgated  thereunder,  on November 14, 1997, and declared  effective February
12, 1998 as  incorporated  by  reference  from the  Company's  Form S-1 declared
effective on February 12, 1998.

      (e) All  documents  filed  by the  Company  and  the  401(k)  Plan,  where
applicable,  pursuant to Section  13(a) and (c), 14 or 15(d) of the Exchange Act
after the date  hereof  and prior to the  filing of a  post-effective  amendment
which deregisters all securities then remaining unsold.

       ANY STATEMENT CONTAINED IN THIS REGISTRATION  STATEMENT, OR IN A DOCUMENT
INCORPORATED OR DEEMED TO BE INCORPORATED BY REFERENCE  HEREIN,  SHALL BE DEEMED
TO BE MODIFIED OR SUPERSEDED FOR PURPOSES OF THIS REGISTRATION  STATEMENT TO THE
EXTENT THAT A STATEMENT  CONTAINED  HEREIN, OR IN ANY OTHER  SUBSEQUENTLY  FILED
DOCUMENT WHICH ALSO IS  INCORPORATED  OR DEEMED TO BE  INCORPORATED BY REFERENCE
HEREIN, MODIFIES OR SUPERSEDES SUCH STATEMENT. ANY SUCH STATEMENT SO MODIFIED OR
SUPERSEDED  SHALL  NOT BE  DEEMED,  EXCEPT  AS SO  MODIFIED  OR  SUPERSEDED,  TO
CONSTITUTE A PART OF THIS REGISTRATION STATEMENT.


                                         2

<PAGE> 3


ITEM 4.  DESCRIPTION OF SECURITIES

      The  Common  Stock to be  offered  pursuant  to the  401(k)  Plan has been
registered  pursuant  to  Section  12  of  the  Exchange  Act.  Accordingly,   a
description of the Common Stock is not required herein.

ITEM 5.  INTERESTS OF NAMED EXPERTS AND COUNSEL

      None.

ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS AND PLAN ADMINISTRATOR.

      Directors and officers of the Registrant are indemnified and held harmless
against liability to the fullest extent  permissible by the general  corporation
law of Delaware as it currently exists or as it may be amended provided any such
amendment  provides broader  indemnification  provisions than currently  exists.
This  indemnification  applies to the Plan  Administrator(s)  who administer the
401(k) Plan.

      In accordance  with the General  Corporation  Law of the State of Delaware
(being  Chapter 1 of Title 8 of the  Delaware  Code),  Articles 10 and 11 of the
Registrant's Certificate of Incorporation provide as follows:

TENTH:

            A. Each  person  who was or is made a party or is  threatened  to be
      made  a  party  to or  is  otherwise  involved  in  any  action,  suit  or
      proceeding,  whether  civil,  criminal,  administrative  or  investigative
      (hereinafter a  "proceeding"),  by reason of the fact that he or she is or
      was a Director  or an Officer of the  Corporation  or is or was serving at
      the request of the Corporation as a Director,  Officer,  employee or agent
      of another corporation or of a partnership,  joint venture, trust or other
      enterprise,  including  service with  respect to an employee  benefit plan
      (hereinafter  an  "indemnitee"),  whether the basis of such  proceeding is
      alleged action in an official capacity as a Director, Officer, employee or
      agent or in any other  capacity  while  serving  as a  Director,  Officer,
      employee  or  agent,  shall  be  indemnified  and  held  harmless  by  the
      Corporation  to the fullest  extent  authorized  by the  Delaware  General
      Corporation  Law, as the same exists or may  hereafter be amended (but, in
      the case of any such  amendment,  only to the extent  that such  amendment
      permits the  Corporation to provide  broader  indemnification  rights than
      such law permitted the  Corporation  to provide prior to such  amendment),
      against  all  expense,  liability  and loss  (including  attorneys'  fees,
      judgments,  fines,  ERISA excise  taxes or  penalties  and amounts paid in
      settlement)   reasonably  incurred  or  suffered  by  such  indemnitee  in
      connection  therewith;  provided,  however,  that,  except as  provided in
      Section  C hereof  with  respect  to  proceedings  to  enforce  rights  to
      indemnification,  the  Corporation  shall indemnify any such indemnitee in
      connection  with  a  proceeding  (or  part  thereof)   initiated  by  such
      indemnitee only if such proceeding (or part thereof) was authorized by the
      Board of Directors of the Corporation.

            B. The  right to  indemnification  conferred  in  Section  A of this
      Article  TENTH shall include the right to be paid by the  Corporation  the
      expenses incurred in defending any such proceeding in advance of its final
      disposition   (hereinafter  and  "advancement  of  expenses");   provided,
      however,  that,  if the Delaware  General  Corporation  Law  requires,  an
      advancement  of expenses  incurred by an indemnitee in his or her capacity
      as a Director or Officer (and not in any other  capacity in which  service
      was or is  rendered by such  indemnitee,  including,  without  limitation,
      services to an employee  benefit plan) shall be made only upon delivery to
      the Corporation of an undertaking (hereinafter an "undertaking"), by or on
      behalf of such  indemnitee,  to repay all  amounts so advanced if it shall
      ultimately be determined by final judicial decision from which there is no
      further right to appeal  (hereinafter  a "final  adjudication")  that such
      indemnitee is not entitled to be indemnified  for such expenses under this
      Section or otherwise. The rights to indemnification and to the advancement
      of expenses  conferred in Sections A and B of this Article  TENTH shall be
      contract rights and such rights shall continue as to an indemnitee who has
      ceased to be a Director, Officer, employee or agent and shall inure to the
      benefit of the indemnitee's heirs, executors and administrators.


                                         3

<PAGE> 4


            C. If a claim under Section A or B of this Article TENTH is not paid
      in full by the  Corporation  within  sixty days after a written  claim has
      been  received  by the  Corporation,  except in the case of a claim for an
      advancement  of  expenses,  in which case the  applicable  period shall be
      twenty days, the indemnitee may at any time thereafter  bring suit against
      the  Corporation to recover the unpaid amount of the claim.  If successful
      in  whole  or in  part  in any  such  suit,  or in a suit  brought  by the
      Corporation to recover an advancement of expenses pursuant to the terms of
      an  undertaking,  the  indemnitee  shall be  entitled  to be paid also the
      expenses of prosecuting or defending such suit. In (i) any suit brought by
      the indemnitee to enforce a right to indemnification hereunder (but not in
      a suit brought by the  indemnitee to enforce a right to an  advancement of
      expenses)  it  shall  be a  defense  that,  and  (ii)  in any  suit by the
      Corporation to recover an advancement of expenses pursuant to the terms of
      an undertaking the Corporation  shall be entitled to recover such expenses
      upon a final  adjudication that, the indemnitee has not met any applicable
      standard for indemnification set forth in the Delaware General Corporation
      Law.  Neither  the  failure  of the  Corporation  (including  its Board of
      Directors,  independent legal counsel, or its stockholders) to have made a
      determination prior to the commencement of such suit that  indemnification
      of the  indemnitee is proper in the  circumstances  because the indemnitee
      has met the  applicable  standard  of  conduct  set forth in the  Delaware
      General  Corporation  Law, nor an actual  determination by the Corporation
      (including  its Board of  Directors,  independent  legal  counsel,  or its
      stockholders) that the indemnitee has not met such applicable  standard of
      conduct,  shall create a presumption  that the  indemnitee has not met the
      applicable  standard of conduct or, in the case of such a suit  brought by
      the  indemnitee,  be a defense  to such suit.  In any suit  brought by the
      indemnitee to enforce a right to  indemnification  or to an advancement of
      expenses  hereunder,  or by the  Corporation  to recover an advancement of
      expenses  pursuant to the terms of an  undertaking,  the burden of proving
      that  the  indemnitee  is  not  entitled  to be  indemnified,  or to  such
      advancement of expenses, under this Article TENTH or otherwise shall be on
      the Corporation.

            D. The rights to indemnification  and to the advancement of expenses
      conferred in this Article  TENTH shall not be exclusive of any other right
      which any person may have or  hereafter  acquire  under any  statute,  the
      Corporation's  Certificate of Incorporation,  Bylaws,  agreement,  vote of
      stockholders or Disinterested Directors or otherwise.

            E. The  Corporation  may  maintain  insurance,  at its  expense,  to
      protect  itself  and any  Director,  Officer,  employee  or  agent  of the
      Corporation   or   subsidiary   or  Affiliate   or  another   corporation,
      partnership, joint venture, trust or other enterprise against any expense,
      liability or loss,  whether or not the Corporation would have the power to
      indemnify  such person  against such expense,  liability or loss under the
      Delaware General Corporation Law.

            F. The Corporation  may, to the extent  authorized from time to time
      by the Board of  Directors,  grant  rights to  indemnification  and to the
      advancement of expenses to any employee or agent of the Corporation to the
      fullest extent of the provisions of this Article TENTH with respect to the
      indemnification  and  advancement of expenses of Directors and Officers of
      the Corporation.

      ELEVENTH: A Director of this Corporation shall not be personally liable to
the Corporation or its stockholders for monetary damages for breach of fiduciary
duty as a Director,  except for liability:  (i) for any breach of the Director's
duty of  loyalty  to the  Corporation  or its  stockholders;  (ii)  for  acts or
omissions not in good faith or which involve intentional misconduct or a knowing
violation of law;  (iii) under Section 174 of the Delaware  General  Corporation
Law; or (iv) for any  transaction  from which the  Director  derived an improper
personal  benefit.  If  the  Delaware  General  Corporation  Law is  amended  to
authorize   corporate  action  further  eliminating  or  limiting  the  personal
liability of  Directors,  then the  liability  of a Director of the  Corporation
shall be eliminated or limited to the fullest  extent  permitted by the Delaware
General Corporation Law, as so amended.



                                         4

<PAGE> 5


      Any repeal or modification of the foregoing  paragraph by the stockholders
of the  Corporation  shall not  adversely  affect any right or  protection  of a
Director of the Corporation existing at the time of such repeal or modification.

      The  Registrant  is also  permitted to maintain  directors'  and officers'
liability  insurance  covering  its  directors  and  officers and has obtained a
directors' and officers'  liability and corporation  reimbursement  policy which
(subject to certain limits and  deductibles)  (i) insures officers and directors
of the Registrant  against loss arising from certain claims made against them by
reason  of  their  being  such  directors  or  officers,  and (ii)  insures  the
Registrant  against  loss  which  it  may be  required  or  permitted  to pay as
indemnification due its directors or officers for certain claims.

      Insofar as  indemnification  for liabilities  arising under the Securities
Act of 1933 (the  "Securities  Act") may be permitted to directors,  officers or
persons controlling the Registrant, the Registrant has been informed that in the
opinion of the Commission that such  indemnification is against public policy as
expressed in the Securities Act and is therefore unenforceable.

ITEM 7.   EXEMPTION FROM REGISTRATION CLAIMED.

      Not applicable.

ITEM 8.   LIST OF EXHIBITS.

      The following  exhibits are filed with or  incorporated  by reference into
this  Registration  Statement on Form S-8  (numbering  corresponds  generally to
Exhibit Table in Item 601 of Regulation S-K):

      4        Stock Certificate of EFC Bancorp, Inc.1

      8        Tax Opinion not required.  The Registrant has submitted or hereby
               undertakes to submit the 401(k) Plan and any amendment thereto to
               the Internal  Revenue  Service ("IRS") in a timely manner and has
               made or will  make all  changes  required  by the IRS in order to
               qualify the Plan.

      23.1     Consent of KPMG Peat Marwick LLP.

      24 Power of Attorney is located on the signature pages.
--------------------------
1 Incorporated herein by reference from the Exhibit of the same number contained
  in the Registration Statement on Form S-1 (SEC No. 333-38637), as amended, and
  declared effective on February 12, 1998.



                                         5

<PAGE> 6



ITEM 9.   UNDERTAKINGS

      The undersigned Registrant hereby undertakes:

      (1)   To file, during any period in which it offers or sells securities, a
            post-effective amendment to this Registration Statement to:

            (i)   Include  any  Prospectus  required  by Section 10(a)(3) of the
                  Securities Act;

            (ii)  Reflect  in   the   Prospectus  any  facts  or  events  which,
                  individually or together, represent a fundamental change in
                  the information in the Registration Statement. Notwithstanding
                  the   foregoing,  any   increase  or  decrease  in  volume  of
                  securities  offered (if  the total dollar value of  securities
                  offered  would not  exceed  that which was registered) and any
                  deviation from   the low  or high end of the estimated maximum
                  offering  range may  be reflected  in the  form  of prospectus
                  filed  with  the  SEC  pursuant  to  Rule  424(b)  if,  in the
                  aggregate, the changes in volume and  price represent  no more
                  than a  20  percent  change in the  maximum aggregate offering
                  price set forth in the "Calculation of Registration Fee" table
                  in the effective registration statement; and

            (iii) Include any additional or changed material  information on the
                  plan  of   distribution   not  previously   disclosed  in  the
                  Registration   Statement  or  any  material   change  to  such
                  information   in  the   Registration   Statement   unless  the
                  information  required by (i) and (ii) is contained in periodic
                  reports  filed by the  Registrant  pursuant  to  Section 13 or
                  15(d) of the Exchange Act that are  incorporated  by reference
                  into this Registration Statement;

      (2)   For  determining  liability  under the Securities Act, to treat each
            post-effective  amendment  as a new  Registration  Statement  of the
            securities offered,  and the offering of the securities at that time
            to be the initial bona fide offering thereof.

      (3)   To file a post-effective  amendment to remove from  registration any
            of the securities that remain unsold at the end of the Offering.

      (4)   That, for purposes of determining any liability under the Securities
            Act,  each filing of the  Registrant's  or the Plan's  annual report
            pursuant  to  Section  13(a) or 15(d)  of the  Exchange  Act that is
            incorporated  by reference in the  Registration  Statement  shall be
            deemed to be a new Registration Statement relating to the securities
            offered  therein,  and the offering of such  securities at that time
            shall be deemed to be the initial bona fide offering thereof.

      Insofar as  indemnification  for liabilities  arising under the Securities
Act of 1933 may be permitted to trustees,  officers and  controlling  persons of
the  Registrant  pursuant  to  the  foregoing  provisions,   or  otherwise,  the
Registrant has been advised that in the opinion of the SEC such  indemnification
is  against   public  policy  as  expressed  in  the  Act  and  is,   therefore,
unenforceable.  In the  event  that a claim  for  indemnification  against  such
liabilities  (other than the payment by the  Registrant of expenses  incurred or
paid by a  trustee,  officer  or  controlling  person of the  Registrant  in the
successful  defense of any  action,  suit or  proceeding)  is  asserted  by such
trustee,  officer or controlling  person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been  settled by  controlling  precedent,  submit to a court of  appropriate
jurisdiction the question whether such  indemnification  by it is against public
policy as  expressed  in the Act will be governed by the final  adjudication  of
such issue.


                                         6

<PAGE> 7



CONFORMED
                                     SIGNATURES

      Pursuant to the  requirements  of the Securities Act of 1933, EFC Bancorp,
Inc.  certifies that is has  reasonable  grounds to believe that it meets all of
the  requirements  for filing on Form S-8 and has duly caused this  Registration
Statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized, in Elgin, Illinois on June 11, 1998.


                                      EFC BANCORP, INC.


                                      By:/s/ Barrett J. O'Connor
                                         ---------------------------------------
                                         Barrett J. O'Connor
                                         President and Chief Executive Officer


      Pursuant  to  the  requirements  of  the  Securities  Act  of  1933,  this
Registration  Statement  has  been  signed  by  the  following  persons  in  the
capacities and on the dates indicated.

      KNOW ALL MEN BY THESE PRESENT,  that each person whose  signature  appears
below (other than Mr. O'Connor) constitutes and appoints Barrett J. O'Connor and
Mr. O'Connor  appoints James J. Kovac,  as the true and lawful  attorney-in-fact
and agent with full power of substitution and resubstitution, for him and in his
name,  place and stead,  in any and all capacities to sign any or all amendments
to the Form S-8 Registration Statement,  and to file the same, with all exhibits
thereto, and other documents in connection  therewith,  with the U.S. Securities
and Exchange Commission,  respectively,  granting unto said attorney-in-fact and
agent full power and  authority  to do and perform each and every act and things
requisite  and  necessary  to be done as fully to all intents and purposes as he
might or could do in  person,  hereby  ratifying  and  confirming  all that said
attorney-in-fact and agent or his substitute or substitutes,  may lawfully do or
cause to be done by virtue hereof.

    Name                        Title                             Date
    ----                        -----                             ----

/s/ Barrett J. O'Connor         Chief Executive Officer           June 11, 1998
------------------------        (principal executive officer)
Barrett J. O'Connor   


/s/ James J. Kovac              Senior Vice President, Chief      June 11, 1998
------------------------        Financial Officer and Director
James J. Kovac                  (principal accounting
                                and financial officer)


/s/ John J. Brittain            Director and Chairman of the      June 11, 1998
------------------------        Board
John J. Brittain


/s/ Leo M. Flanagan, Jr.        Director and Vice Chairman of     June 11, 1998
------------------------        the Board
Leo M. Flanagan, Jr.


/s/ Vincent C. Norton           Director                          June 11, 1998
------------------------
Vincent C. Norton


/s/ Thomas I Anderson           Director                          June 11, 1998
------------------------
Thomas I. Anderson



                                        7

<PAGE> 8



/s/ Ralph W. Helm, Jr.          Director                         June 11, 1998
------------------------
Ralph W. Helm, Jr.


/s/ Peter A. Traeger            Director                         June 11, 1998
------------------------
Peter A. Traeger


/s/ Scott H. Budd               Director                         June 11, 1998
-----------------------
Scott H. Budd


THE ELGIN FINANCIAL CENTER, S.B. 401(K) EMPLOYEE BENEFIT PLAN.

    Pursuant to the requirements of the Securities Act of 1933, the trustees (or
other persons who administer the Elgin  Financial  Center,  S.B. 401(k) Employee
Benefit Plan) have duly caused this  Registration  Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the Elgin, Illinois, on
June 11, 1998.


            ELGIN FINANCIAL CENTER, S.B. 401(K) EMPLOYEE BENEFIT PLAN

               By:   /s/ Barrett J. O'Connor
                     ------------------------------------------------------
                     Barrett J. O'Connor, President and Chief Executive Officer
                     Elgin Financial Center, SB

               For:  Elgin Financial Center, SB 401(k) Employee Benefit Plan
                     Plan Administrator




                                        8

<PAGE> 9



                                  EXHIBIT INDEX
                                  -------------

                                                                   Sequentially
                                                                     Numbered
 Exhibit   Description            Method of                            Page
  No.                             Filing                             Location
--------   -------------------   ----------------------------      ------------

   4       Stock Certificate of   Incorporated herein by  
           EFC Bancorp, Inc.      reference from the Exhibits            -- 
                                  of the Registrant's Registration
                                  Statement on Form S-1 filed
                                  with  the SEC  and  declared
                                  effective on February 12, 1998.

  23.1     Consent KPMG           Filed herewith.                        11
           Peat Marwick LLP.

  24       Power of Attorney      Located on the signature page.          8


























                                        9
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{"company-data": {"conformed-name": "EFC BANCORP INC", "cik": "0001047947", "assigned-sic": "6036", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-56647", "film-number": "98646785"}, "business-address": {"street1": "1695 LARKIN AVE", "city": "ELGIN", "state": "IL", "zip": "60123", "phone": "8477413900"}}
1

 As  filed  with  the  Securities  and  Exchange  Commission  on  June 11, 1998
                                                    Registration No. 333-
                                                                         -------
================================================================================
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                    FORM S-8
                            REGISTRATION STATEMENT
                       UNDER THE SECURITIES ACT OF 1933

                               EFC BANCORP, INC.
 (exact name of registrant as specified in its certificate of incorporation)

           DELAWARE                        6036                   36-4193304
(state or other jurisdiction of     (Primary Standard           (IRS Employer
incorporation or organization)  Classification Code Number)  Identification No.)
                                
                              1695 LARKIN AVENUE
                            ELGIN, ILLINOIS 60123
                                (847) 741-3900
             (Address, including zip code, and telephone number,
      including area code, of registrant's principal executive offices)

                         ELGIN FINANCIAL CENTER S.B.
                         401(K) EMPLOYEE BENEFIT PLAN
                           (Full Title of the Plan)
                         ----------------------------

BARRETT J. O'CONNOR                       COPIES TO:
PRESIDENT AND CHIEF EXECUTIVE OFFICER     LORI M. BERESFORD, ESQUIRE
ELGIN FINANCIAL CENTER, S.B.              KENT M. KRUDYS, ESQUIRE
1695 LARKIN AVENUE                        MULDOON, MURPHY & FAUCETTE
ELGIN, ILLINOIS 60123                     5101 WISCONSIN AVENUE, N.W.
(847) 741-3900                            WASHINGTON, D.C.  20016
                                          (202) 362-0840
(Name, address, including zip code, and telephone
number, including area code, of agent for service)

APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO PUBLIC:  As soon as
                practicable after this Registration Statement
                           becomes effective.
If any of the  securities  being  registered on this Form are to be offered on a
delayed or continuous  basis  pursuant to Rule 415  under the  Securities Act of
1933, check the following box. / X /
                               ----

================================================================================
Title of each Class    Amount        Proposed        Estimated      Registration
of Securities to       to be      Purchase Price     Aggregate          Fee
 be Registered       Registered    Per Shares(1)  Offering Price(2)
--------------------------------------------------------------------------------
   Common Stock
  $.01 par Value      246,095         $13.53         $3,329,665       $982.25
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
   Participation
     Interests          (3)                          $3,329,677         (4)
================================================================================
(1) The  average of the high and low prices of the Common  Stock of EFC Bancorp,
    Inc. on the American Stock Exchange on June 4, 1998, in accordance with Rule
    457(c) under the Securities Act of 1933, as amended (the "Securities Act").
(2) Estimated solely for the purpose of calculating the registration fee.
(3) In  addition, pursuant  to  Rule  416(c)  under  the  Securities  Act,  this
    registration  statement also covers an  indeterminate amount of interests to
    be offered or sold pursuant to the employee benefit plan described herein.
(4) The  securities of EFC  Bancorp, Inc. (the "Company" or the "Registrant") to
    be  purchased by the Elgin Financial  Center,  S.B. 401(k) Employee  Benefit
    Plan  are included  in  the amount  shown  for  Common  Stock.  Accordingly,
    pursuant  to  Rule   457(h)(2),  no   separate  fee   is  required  for  the
    participation   interests.   In   accordance  with  Rule  457( h)  under the
    Securities Act, the registration fee has been calculated on the basis of the
    number  of shares of  Common Stock  that may  be purchased  with the current
    assets of such Plan.

THIS  REGISTRATION  STATEMENT SHALL BECOME EFFECTIVE  IMMEDIATELY UPON FILING IN
ACCORDANCE  WITH SECTION 8(A) OF THE  SECURITIES  ACT OF 1933, AS AMENDED,  (THE
"SECURITIES ACT") AND 17 C.F.R. SS.230.462.

Number of Pages 11
Exhibit Index begins on Page 9
2

EFC BANCORP, INC.

PART I     INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS

ITEMS 1 & 2. The  documents  containing  the  information  for  Elgin  Financial
Center,  S.B. 401(k) Employee Benefit Plan ("401(k) Plan") required by Part I of
the  Registration  Statement  will be sent or given to the  participants  in the
401(k) Plan as specified by Rule  428(b)(1).  Such  documents are not filed with
the  Securities  and Exchange  Commission  (the "SEC")  either as a part of this
Registration  Statement or as a prospectus or prospectus  supplement pursuant to
Rule 424 in reliance on Rule 428.

PART II   INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.  INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

The following  documents  filed or to be filed with the SEC are  incorporated by
reference in this Registration Statement:

      (a)  The  Prospectus  filed  with  the  SEC by the  Registrant  (File  No.
333-38637)  and declared  effective on February  12,  1998,  which  includes the
consolidated  balance sheets of Elgin Financial  Center,  S.B. and  Subsidiaries
(the "Bank")  (the Company did not acquire the Bank until April 3, 1998),  as of
December 31, 1996, and 1995, and as of September 30, 1997  (unaudited),  and the
related consolidated statements of operation,  changes in retained earnings, and
cash flows for each of the years in the  three-year  period  ended  December 31,
1996 and the nine months ended September 30, 1997 (unaudited), together with the
related  notes and the report of KPMG Peat  Marwick LLP,  independent  certified
public accountants.

      (b) The Form 10-K  report  filed by the  Company for the fiscal year ended
December 31, 1997 (File No. 1-13605) filed with the SEC on March 31, 1998.

      (c) The Form 10-Q report filed by the Company for the quarter  ended March
31, 1998 (File No. 1- 13605), as filed with the SEC on May 15, 1998.

      (d) The description of Registrant's Common Stock contained in Registrant's
Form 8-A (File No. 1-13605),  as filed with the SEC pursuant to Section 12(g) of
the  Securities  Exchange  Act of 1934 (the  "Exchange  Act"),  and rule  12b-15
promulgated  thereunder,  on November 14, 1997, and declared  effective February
12, 1998 as  incorporated  by  reference  from the  Company's  Form S-1 declared
effective on February 12, 1998.

      (e) All  documents  filed  by the  Company  and  the  401(k)  Plan,  where
applicable,  pursuant to Section  13(a) and (c), 14 or 15(d) of the Exchange Act
after the date  hereof  and prior to the  filing of a  post-effective  amendment
which deregisters all securities then remaining unsold.

       ANY STATEMENT CONTAINED IN THIS REGISTRATION  STATEMENT, OR IN A DOCUMENT
INCORPORATED OR DEEMED TO BE INCORPORATED BY REFERENCE  HEREIN,  SHALL BE DEEMED
TO BE MODIFIED OR SUPERSEDED FOR PURPOSES OF THIS REGISTRATION  STATEMENT TO THE
EXTENT THAT A STATEMENT  CONTAINED  HEREIN, OR IN ANY OTHER  SUBSEQUENTLY  FILED
DOCUMENT WHICH ALSO IS  INCORPORATED  OR DEEMED TO BE  INCORPORATED BY REFERENCE
HEREIN, MODIFIES OR SUPERSEDES SUCH STATEMENT. ANY SUCH STATEMENT SO MODIFIED OR
SUPERSEDED  SHALL  NOT BE  DEEMED,  EXCEPT  AS SO  MODIFIED  OR  SUPERSEDED,  TO
CONSTITUTE A PART OF THIS REGISTRATION STATEMENT.

                                         2
3

ITEM 4.  DESCRIPTION OF SECURITIES

      The  Common  Stock to be  offered  pursuant  to the  401(k)  Plan has been
registered  pursuant  to  Section  12  of  the  Exchange  Act.  Accordingly,   a
description of the Common Stock is not required herein.

ITEM 5.  INTERESTS OF NAMED EXPERTS AND COUNSEL

      None.

ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS AND PLAN ADMINISTRATOR.

      Directors and officers of the Registrant are indemnified and held harmless
against liability to the fullest extent  permissible by the general  corporation
law of Delaware as it currently exists or as it may be amended provided any such
amendment  provides broader  indemnification  provisions than currently  exists.
This  indemnification  applies to the Plan  Administrator(s)  who administer the
401(k) Plan.

      In accordance  with the General  Corporation  Law of the State of Delaware
(being  Chapter 1 of Title 8 of the  Delaware  Code),  Articles 10 and 11 of the
Registrant's Certificate of Incorporation provide as follows:

TENTH:

            A. Each  person  who was or is made a party or is  threatened  to be
      made  a  party  to or  is  otherwise  involved  in  any  action,  suit  or
      proceeding,  whether  civil,  criminal,  administrative  or  investigative
      (hereinafter a  "proceeding"),  by reason of the fact that he or she is or
      was a Director  or an Officer of the  Corporation  or is or was serving at
      the request of the Corporation as a Director,  Officer,  employee or agent
      of another corporation or of a partnership,  joint venture, trust or other
      enterprise,  including  service with  respect to an employee  benefit plan
      (hereinafter  an  "indemnitee"),  whether the basis of such  proceeding is
      alleged action in an official capacity as a Director, Officer, employee or
      agent or in any other  capacity  while  serving  as a  Director,  Officer,
      employee  or  agent,  shall  be  indemnified  and  held  harmless  by  the
      Corporation  to the fullest  extent  authorized  by the  Delaware  General
      Corporation  Law, as the same exists or may  hereafter be amended (but, in
      the case of any such  amendment,  only to the extent  that such  amendment
      permits the  Corporation to provide  broader  indemnification  rights than
      such law permitted the  Corporation  to provide prior to such  amendment),
      against  all  expense,  liability  and loss  (including  attorneys'  fees,
      judgments,  fines,  ERISA excise  taxes or  penalties  and amounts paid in
      settlement)   reasonably  incurred  or  suffered  by  such  indemnitee  in
      connection  therewith;  provided,  however,  that,  except as  provided in
      Section  C hereof  with  respect  to  proceedings  to  enforce  rights  to
      indemnification,  the  Corporation  shall indemnify any such indemnitee in
      connection  with  a  proceeding  (or  part  thereof)   initiated  by  such
      indemnitee only if such proceeding (or part thereof) was authorized by the
      Board of Directors of the Corporation.

            B. The  right to  indemnification  conferred  in  Section  A of this
      Article  TENTH shall include the right to be paid by the  Corporation  the
      expenses incurred in defending any such proceeding in advance of its final
      disposition   (hereinafter  and  "advancement  of  expenses");   provided,
      however,  that,  if the Delaware  General  Corporation  Law  requires,  an
      advancement  of expenses  incurred by an indemnitee in his or her capacity
      as a Director or Officer (and not in any other  capacity in which  service
      was or is  rendered by such  indemnitee,  including,  without  limitation,
      services to an employee  benefit plan) shall be made only upon delivery to
      the Corporation of an undertaking (hereinafter an "undertaking"), by or on
      behalf of such  indemnitee,  to repay all  amounts so advanced if it shall
      ultimately be determined by final judicial decision from which there is no
      further right to appeal  (hereinafter  a "final  adjudication")  that such
      indemnitee is not entitled to be indemnified  for such expenses under this
      Section or otherwise. The rights to indemnification and to the advancement
      of expenses  conferred in Sections A and B of this Article  TENTH shall be
      contract rights and such rights shall continue as to an indemnitee who has
      ceased to be a Director, Officer, employee or agent and shall inure to the
      benefit of the indemnitee's heirs, executors and administrators.

                                         3
4

            C. If a claim under Section A or B of this Article TENTH is not paid
      in full by the  Corporation  within  sixty days after a written  claim has
      been  received  by the  Corporation,  except in the case of a claim for an
      advancement  of  expenses,  in which case the  applicable  period shall be
      twenty days, the indemnitee may at any time thereafter  bring suit against
      the  Corporation to recover the unpaid amount of the claim.  If successful
      in  whole  or in  part  in any  such  suit,  or in a suit  brought  by the
      Corporation to recover an advancement of expenses pursuant to the terms of
      an  undertaking,  the  indemnitee  shall be  entitled  to be paid also the
      expenses of prosecuting or defending such suit. In (i) any suit brought by
      the indemnitee to enforce a right to indemnification hereunder (but not in
      a suit brought by the  indemnitee to enforce a right to an  advancement of
      expenses)  it  shall  be a  defense  that,  and  (ii)  in any  suit by the
      Corporation to recover an advancement of expenses pursuant to the terms of
      an undertaking the Corporation  shall be entitled to recover such expenses
      upon a final  adjudication that, the indemnitee has not met any applicable
      standard for indemnification set forth in the Delaware General Corporation
      Law.  Neither  the  failure  of the  Corporation  (including  its Board of
      Directors,  independent legal counsel, or its stockholders) to have made a
      determination prior to the commencement of such suit that  indemnification
      of the  indemnitee is proper in the  circumstances  because the indemnitee
      has met the  applicable  standard  of  conduct  set forth in the  Delaware
      General  Corporation  Law, nor an actual  determination by the Corporation
      (including  its Board of  Directors,  independent  legal  counsel,  or its
      stockholders) that the indemnitee has not met such applicable  standard of
      conduct,  shall create a presumption  that the  indemnitee has not met the
      applicable  standard of conduct or, in the case of such a suit  brought by
      the  indemnitee,  be a defense  to such suit.  In any suit  brought by the
      indemnitee to enforce a right to  indemnification  or to an advancement of
      expenses  hereunder,  or by the  Corporation  to recover an advancement of
      expenses  pursuant to the terms of an  undertaking,  the burden of proving
      that  the  indemnitee  is  not  entitled  to be  indemnified,  or to  such
      advancement of expenses, under this Article TENTH or otherwise shall be on
      the Corporation.

            D. The rights to indemnification  and to the advancement of expenses
      conferred in this Article  TENTH shall not be exclusive of any other right
      which any person may have or  hereafter  acquire  under any  statute,  the
      Corporation's  Certificate of Incorporation,  Bylaws,  agreement,  vote of
      stockholders or Disinterested Directors or otherwise.

            E. The  Corporation  may  maintain  insurance,  at its  expense,  to
      protect  itself  and any  Director,  Officer,  employee  or  agent  of the
      Corporation   or   subsidiary   or  Affiliate   or  another   corporation,
      partnership, joint venture, trust or other enterprise against any expense,
      liability or loss,  whether or not the Corporation would have the power to
      indemnify  such person  against such expense,  liability or loss under the
      Delaware General Corporation Law.

            F. The Corporation  may, to the extent  authorized from time to time
      by the Board of  Directors,  grant  rights to  indemnification  and to the
      advancement of expenses to any employee or agent of the Corporation to the
      fullest extent of the provisions of this Article TENTH with respect to the
      indemnification  and  advancement of expenses of Directors and Officers of
      the Corporation.

      ELEVENTH: A Director of this Corporation shall not be personally liable to
the Corporation or its stockholders for monetary damages for breach of fiduciary
duty as a Director,  except for liability:  (i) for any breach of the Director's
duty of  loyalty  to the  Corporation  or its  stockholders;  (ii)  for  acts or
omissions not in good faith or which involve intentional misconduct or a knowing
violation of law;  (iii) under Section 174 of the Delaware  General  Corporation
Law; or (iv) for any  transaction  from which the  Director  derived an improper
personal  benefit.  If  the  Delaware  General  Corporation  Law is  amended  to
authorize   corporate  action  further  eliminating  or  limiting  the  personal
liability of  Directors,  then the  liability  of a Director of the  Corporation
shall be eliminated or limited to the fullest  extent  permitted by the Delaware
General Corporation Law, as so amended.

                                         4
5

      Any repeal or modification of the foregoing  paragraph by the stockholders
of the  Corporation  shall not  adversely  affect any right or  protection  of a
Director of the Corporation existing at the time of such repeal or modification.

      The  Registrant  is also  permitted to maintain  directors'  and officers'
liability  insurance  covering  its  directors  and  officers and has obtained a
directors' and officers'  liability and corporation  reimbursement  policy which
(subject to certain limits and  deductibles)  (i) insures officers and directors
of the Registrant  against loss arising from certain claims made against them by
reason  of  their  being  such  directors  or  officers,  and (ii)  insures  the
Registrant  against  loss  which  it  may be  required  or  permitted  to pay as
indemnification due its directors or officers for certain claims.

      Insofar as  indemnification  for liabilities  arising under the Securities
Act of 1933 (the  "Securities  Act") may be permitted to directors,  officers or
persons controlling the Registrant, the Registrant has been informed that in the
opinion of the Commission that such  indemnification is against public policy as
expressed in the Securities Act and is therefore unenforceable.

ITEM 7.   EXEMPTION FROM REGISTRATION CLAIMED.

      Not applicable.

ITEM 8.   LIST OF EXHIBITS.

      The following  exhibits are filed with or  incorporated  by reference into
this  Registration  Statement on Form S-8  (numbering  corresponds  generally to
Exhibit Table in Item 601 of Regulation S-K):

      4        Stock Certificate of EFC Bancorp, Inc.1

      8        Tax Opinion not required.  The Registrant has submitted or hereby
               undertakes to submit the 401(k) Plan and any amendment thereto to
               the Internal  Revenue  Service ("IRS") in a timely manner and has
               made or will  make all  changes  required  by the IRS in order to
               qualify the Plan.

      23.1     Consent of KPMG Peat Marwick LLP.

      24 Power of Attorney is located on the signature pages.
--------------------------
1 Incorporated herein by reference from the Exhibit of the same number contained
  in the Registration Statement on Form S-1 (SEC No. 333-38637), as amended, and
  declared effective on February 12, 1998.

                                         5
6

ITEM 9.   UNDERTAKINGS

      The undersigned Registrant hereby undertakes:

      (1)   To file, during any period in which it offers or sells securities, a
            post-effective amendment to this Registration Statement to:

            (i)   Include  any  Prospectus  required  by Section 10(a)(3) of the
                  Securities Act;

            (ii)  Reflect  in   the   Prospectus  any  facts  or  events  which,
                  individually or together, represent a fundamental change in
                  the information in the Registration Statement. Notwithstanding
                  the   foregoing,  any   increase  or  decrease  in  volume  of
                  securities  offered (if  the total dollar value of  securities
                  offered  would not  exceed  that which was registered) and any
                  deviation from   the low  or high end of the estimated maximum
                  offering  range may  be reflected  in the  form  of prospectus
                  filed  with  the  SEC  pursuant  to  Rule  424(b)  if,  in the
                  aggregate, the changes in volume and  price represent  no more
                  than a  20  percent  change in the  maximum aggregate offering
                  price set forth in the "Calculation of Registration Fee" table
                  in the effective registration statement; and

            (iii) Include any additional or changed material  information on the
                  plan  of   distribution   not  previously   disclosed  in  the
                  Registration   Statement  or  any  material   change  to  such
                  information   in  the   Registration   Statement   unless  the
                  information  required by (i) and (ii) is contained in periodic
                  reports  filed by the  Registrant  pursuant  to  Section 13 or
                  15(d) of the Exchange Act that are  incorporated  by reference
                  into this Registration Statement;

      (2)   For  determining  liability  under the Securities Act, to treat each
            post-effective  amendment  as a new  Registration  Statement  of the
            securities offered,  and the offering of the securities at that time
            to be the initial bona fide offering thereof.

      (3)   To file a post-effective  amendment to remove from  registration any
            of the securities that remain unsold at the end of the Offering.

      (4)   That, for purposes of determining any liability under the Securities
            Act,  each filing of the  Registrant's  or the Plan's  annual report
            pursuant  to  Section  13(a) or 15(d)  of the  Exchange  Act that is
            incorporated  by reference in the  Registration  Statement  shall be
            deemed to be a new Registration Statement relating to the securities
            offered  therein,  and the offering of such  securities at that time
            shall be deemed to be the initial bona fide offering thereof.

      Insofar as  indemnification  for liabilities  arising under the Securities
Act of 1933 may be permitted to trustees,  officers and  controlling  persons of
the  Registrant  pursuant  to  the  foregoing  provisions,   or  otherwise,  the
Registrant has been advised that in the opinion of the SEC such  indemnification
is  against   public  policy  as  expressed  in  the  Act  and  is,   therefore,
unenforceable.  In the  event  that a claim  for  indemnification  against  such
liabilities  (other than the payment by the  Registrant of expenses  incurred or
paid by a  trustee,  officer  or  controlling  person of the  Registrant  in the
successful  defense of any  action,  suit or  proceeding)  is  asserted  by such
trustee,  officer or controlling  person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been  settled by  controlling  precedent,  submit to a court of  appropriate
jurisdiction the question whether such  indemnification  by it is against public
policy as  expressed  in the Act will be governed by the final  adjudication  of
such issue.

                                         6
7

CONFORMED
                                     SIGNATURES

      Pursuant to the  requirements  of the Securities Act of 1933, EFC Bancorp,
Inc.  certifies that is has  reasonable  grounds to believe that it meets all of
the  requirements  for filing on Form S-8 and has duly caused this  Registration
Statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized, in Elgin, Illinois on June 11, 1998.

                                      EFC BANCORP, INC.

                                      By:/s/ Barrett J. O'Connor
                                         ---------------------------------------
                                         Barrett J. O'Connor
                                         President and Chief Executive Officer

      Pursuant  to  the  requirements  of  the  Securities  Act  of  1933,  this
Registration  Statement  has  been  signed  by  the  following  persons  in  the
capacities and on the dates indicated.

      KNOW ALL MEN BY THESE PRESENT,  that each person whose  signature  appears
below (other than Mr. O'Connor) constitutes and appoints Barrett J. O'Connor and
Mr. O'Connor  appoints James J. Kovac,  as the true and lawful  attorney-in-fact
and agent with full power of substitution and resubstitution, for him and in his
name,  place and stead,  in any and all capacities to sign any or all amendments
to the Form S-8 Registration Statement,  and to file the same, with all exhibits
thereto, and other documents in connection  therewith,  with the U.S. Securities
and Exchange Commission,  respectively,  granting unto said attorney-in-fact and
agent full power and  authority  to do and perform each and every act and things
requisite  and  necessary  to be done as fully to all intents and purposes as he
might or could do in  person,  hereby  ratifying  and  confirming  all that said
attorney-in-fact and agent or his substitute or substitutes,  may lawfully do or
cause to be done by virtue hereof.

    Name                        Title                             Date
    ----                        -----                             ----

/s/ Barrett J. O'Connor         Chief Executive Officer           June 11, 1998
------------------------        (principal executive officer)
Barrett J. O'Connor   

/s/ James J. Kovac              Senior Vice President, Chief      June 11, 1998
------------------------        Financial Officer and Director
James J. Kovac                  (principal accounting
                                and financial officer)

/s/ John J. Brittain            Director and Chairman of the      June 11, 1998
------------------------        Board
John J. Brittain

/s/ Leo M. Flanagan, Jr.        Director and Vice Chairman of     June 11, 1998
------------------------        the Board
Leo M. Flanagan, Jr.

/s/ Vincent C. Norton           Director                          June 11, 1998
------------------------
Vincent C. Norton

/s/ Thomas I Anderson           Director                          June 11, 1998
------------------------
Thomas I. Anderson

                                        7
8

/s/ Ralph W. Helm, Jr.          Director                         June 11, 1998
------------------------
Ralph W. Helm, Jr.

/s/ Peter A. Traeger            Director                         June 11, 1998
------------------------
Peter A. Traeger

/s/ Scott H. Budd               Director                         June 11, 1998
-----------------------
Scott H. Budd

THE ELGIN FINANCIAL CENTER, S.B. 401(K) EMPLOYEE BENEFIT PLAN.

    Pursuant to the requirements of the Securities Act of 1933, the trustees (or
other persons who administer the Elgin  Financial  Center,  S.B. 401(k) Employee
Benefit Plan) have duly caused this  Registration  Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the Elgin, Illinois, on
June 11, 1998.

            ELGIN FINANCIAL CENTER, S.B. 401(K) EMPLOYEE BENEFIT PLAN

               By:   /s/ Barrett J. O'Connor
                     ------------------------------------------------------
                     Barrett J. O'Connor, President and Chief Executive Officer
                     Elgin Financial Center, SB

               For:  Elgin Financial Center, SB 401(k) Employee Benefit Plan
                     Plan Administrator

                                        8
9

                                  EXHIBIT INDEX
                                  -------------

                                                                   Sequentially
                                                                     Numbered
 Exhibit   Description            Method of                            Page
  No.                             Filing                             Location
--------   -------------------   ----------------------------      ------------

   4       Stock Certificate of   Incorporated herein by  
           EFC Bancorp, Inc.      reference from the Exhibits            -- 
                                  of the Registrant's Registration
                                  Statement on Form S-1 filed
                                  with  the SEC  and  declared
                                  effective on February 12, 1998.

  23.1     Consent KPMG           Filed herewith.                        11
           Peat Marwick LLP.

  24       Power of Attorney      Located on the signature page.          8

                                        9