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Overview / Commentary
340 N Milwaukee Ave
Vernon Hills, IL 60061-1533

Baxter Credit Union is headquartered in Vernon Hills and is the 4th largest credit union in the state of Illinois. It is also the 81st largest credit union in the nation. It was established in 1980 and as of March of 2014, it had grown to 390 employees and 185,878 members. Baxter Credit Union's savings rates are 5X the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

Membership is open to those who live or work in the Illinois counties of Cook (north of Route 58), Dupage, Kane, Lake and McHenry, in the Village of Schaumburg, and in the Wisconsin County of Kenosha. You can also be eligible based on employer groups and family members. Membership requires a minimum balance of $5 in the savings account. - See Details

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Reviews (7)

Student Loan Process

When I called in to check the status of my student loan they had somehow switched my co-signer to someone that I intended it to be and one associate, Xaviee, even accused me of changing the information myself even though I don't have access to the internal database. The associates I spoke with were so rude to me, I was shocked. They pulled my credit twice without my permission and directly against my wishes. They did not document any conversation they had with me in their internal system so whenever I called, no one knew what was going on with my file. Even the managers didn't follow up with what was promised. They left me helpless just a few weeks before school started because they made a clerical error and refused to admit it!! 

More Ways To Meet The Monthly Requirements

We chose to open a Powerchecking account at BCU a little over 2 years ago. Though it didn't have the highest interest rate, we chose it over other high-yield checking accounts because of a single feature: whereas most other accounts only count debit card transactions toward the monthly minimum, BCU counts bill payments and ACH transfers as well.  Since we use online bill payment a lot, it's been a good fit.

Staffers were responsive to our questions during and shortly after account setup, and we haven't needed to communicate with BCU much since then.


I dont know about working there, I do know after having dealt with them that you apparently have to be one brain cell short of brain death to work there.

This is the worst virtual bank on the planet.....Hands Down!

Despite what they might tell you, you CANT do all of your transactions at a shared branch.

I wanted to withdraw a sum of funds from my account for an auto purchase today and was going to go to a shared branch DCU (another lackluster pseudo bank) to get my money, I called them before hand to confirm because of my previous experience with the frauds at BCU. Luckily I did (if you can call it lucky) because you can not perform all transactions at a shared branch, not even a simple withdrawal of your own funds. 

DCU said they needed to call BCU to verify funds despite being electronically connected, I called BCU and they said why cant they verify funds electronically and as you can imagine the wheel went round and round.

Needless to say I have transferred all of my funds out of BCU to a real banking institution and will be closing my accounts as soon as I know my money is safe and sound.

Dont be misled, this is not a consumer friendly bank and they make it difficult to get your money if you do not have a BCU branch in your neighborhood to go to. 

Dont take my word for it, there are many BCU horror stories out there so bank with caution.

PS....Why would anyone want to work at BCU? Looking for a banking job, go to a real bank not these jokers.

Great CU For All Services!

I've been 100% happy with BCU. They gave me a great rate on my car loan, I'm happily using their credit card as my primary card, and they have great banking services. If there's not a local branch near you, they have thousands of "shared" branches with other CUs around the country that you can use just as if it was your own BCU branch. They have "Deposit Anywhere", a service that allows me to deposit checks from my computer (with a scanner) or from my smartphone's camera. They have excellent savings and CD rates! I get a call a couple times a year from their reps just 'checking in' to make sure everything's alright and that I've not been having any issues with my service; it's really very nice for them to contact me like that!

I really couldn't be happier with my experiences.

I love my credit union

I like how my credit union seems to function. Puts it's members first before it's profits. BCU has a check deposit system on the phone, a mobile app that lets me view my balance anywhere. Though I don't use one of their physical buildings anywhere near me, the ability to do all my banking online is a very valuable asset.

Watch Out For Fees

The credit union was very responsive to me and has been always been prompt with loan approvals and has competitive rates. The only mistake I made was that I opened their high rate savings account which has a lot of restrictions, especially on withdrawals. Since I did not read the disclosure I did not know that if I made more than 3 withdrawals in a year they would charge me $35.00 each time. My fault. They also have an early direct deposit feature which is nice. They post them a day in advance of your actual pay date. If you open any of their promotional accounts make sure you fully understand the fees. I would recommend them.

Switched From Bank Of America

I recently switched from BofA and also refinanced my auto loan from TD Bank.  I received a good rate on the car plus a $150 rebate for refinancing the car.  The refinance took about three weeks.  I also applied for and was approved for a credit card with no annual fee and a decent rate.  My only complaint is the credit line is lower than I would have liked. The card took about three weeks as well.  I have no problems using online and mobile banking and have used the shared branches without problems.  The employees have always been polite.  The online credit score from credit karma is a nice feature and allows you to see what loan products from BCU you might qualify for.  Overall they did everything they said they would and at better rates. 


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Baxter Credit Union had $10.39 million in non-current loans and owned real-estate with $205.41 million in equity and loan loss allowances on hand to cover it. This gives Baxter Credit Union a Texas Ratio of 5.06% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Baxter Credit Union decreased dramatically from 7.82% as of March 31, 2013 to 5.06% as of March 31, 2014, resulting in a positive change of 35.33%.This indicates that the balance sheet and financial strength for Baxter Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Baxter Credit Union has increased its total deposits by $109.73 million, resulting in 6.45% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Baxter Credit Union has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Baxter Credit Union has $2.01 billion in assets with $205.41 million in equity, resulting in a capitalization level of 10.21%, which is above average.

Institution Statistics

NCUA #68187
Year Chartered1980
Primary Regulator
Assets and Liabilities
Assets$2.01 billion
Loans$1.67 billion
Deposits$1.81 billion
Equity Capital$183.86 million
Loan Loss Allowance$21.56 million
Unbacked Noncurrent Loans$10.16 million
Real Estate Owned$230,000
Historic Data - March 2013
Assets$1.87 billion
Equity Capital$160.25 million
Loan Loss Allowance$26.85 million
Unbacked Noncurrent Loans$10.16 million
Real Estate Owned$1.79 million
Profit Margin - Quarterly
Return on Assets1.14%
Return on Equity12.52%
Interest Income$19.62 million

Always verify rates and promotions with the bank or credit union. We are not Baxter Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Baxter Credit Union Savings Account Rates

2.50%$25$25kRainy Day Savings after first 12 months
1.50%--Health Savings Account
1.25%$25$6,500Rainy Day Savings first consecutive 12 months
0.05%--Regular Savings
0.05%--Holiday Club
0.05%--Vacation Club
0.05%--Stepping Stones Savings Club

Baxter Credit Union Money Market Rates

0.35%$500k-Money Market
0.35%$1k-IRA Money Market
0.35%$1k-Roth IRA Money Market
0.35%$1k-CESA Money Market

Baxter Credit Union Checking Account Rates

2.00%-$25kPower Interest Checking - Qualifying
0.50%--Premier Business Checking
0.40%$25k-Preferred Interest Checking

Baxter Credit Union CD Rates

1.85%$500-60 Month Rewards CD
1.60%$500-60 Month CD
1.45%$500-48 Month Rewards CD
1.40%$50$25kSpecial 36 Month Kid's Certificate
1.20%$500-48 Month CD
1.15%$500-36 Month Rewards CD
0.90%$500-36 Month CD
0.90%$500-24 Month Rewards CD
0.65%$500-24 Month CD
0.45%$500-12 Month Rewards CD
0.35%$500-12 Month CD
0.30%$500-6 Month Rewards CD
0.20%$500-6 Month CD
0.20%$500-3 Month Rewards CD
0.10%$500-3 Month CD

Baxter Credit Union IRA Rates

1.85%$500-60 Month Rewards IRA Certificate
1.60%$500-60 Month IRA Certificate
1.45%$500-48 Month Rewards IRA Certificate
1.20%$500-48 Month IRA Certificate
1.15%$500-36 Month Rewards IRA Certificate
0.90%$500-36 Month IRA Certificate
0.90%$500-24 Month Rewards IRA Certificate
0.65%$500-24 Month IRA Certificate
0.45%$500-12 Month Rewards IRA Certificate
0.35%$500-12 Month IRA Certificate

Baxter Credit Union has 38 locations. Click to view all Baxter Credit Union locations.