BCU is headquartered in Vernon Hills and is the 4th largest credit union in the state of Illinois. It is also the 60th largest credit union in the nation. It was established in 1980 and as of December of 2020, it had grown to 700 employees and 293,194 members at 65 locations. BCU's money market rates are 25% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in BCU is open to the following: (1) those who live or work in McHenry, Lake, Kane, DuPage, or Cook County north of 95th Street South in Chicago; (2) those who live or work in Kenosha County in Wisconsin; (3) employees of Boston Scientific, Centegra Health Care, Rust-Oleum Corporation and other area Select Employer Groups.
See current membership details
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Great Credit Union!!
Everything about this credit union is great! They offer early direct deposit so I have access to my paycheck early. Great savings rates. Enjoy their credit card, and a very easy process I went thru to get a credit line increase. Everyone is always very friendly when I have called in, and the mobile deposit process is a breeze. There are not any branches around me, however, I like the fact that I can make ATM deposits at PNC bank, or I can visit any shared branch credit union. BCU called me also and told me they were able to save me a large amount of money if I switched over my auto loan from Wells Fargo. I gave them the chance, and my monthly payment went down $90.00 a month without an extension in my loan term. On top of this when my loan closed they gave me $100.00 as a thank you for bringing my loan over. BCU has earned my membership for life!
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.
Not Worth It
I have been with this bank since I believe a week before Valentines day. When I received my debit card I tried using it at the grocery store. Well I had an issue with the card not working. The funds were there but my card was not being accepted. I called the bank while in the store, response time is pretty good and all in all after trying to figure out the issue I just wasn't able to use my card. So I was suppose to be overnighted a card. The next day comes and I have an email delivery confirmation but no card. It was sent to the wrong address! So I call again only to be told I now have to wait 7-10 days for a card. I'm on my 11th day and have not gotten a card it's been 3 almost 4 weeks that I've had the account and the card issue. I call again only to be told that I have to wait at least 1 business day to talk to someone about getting me a card. Yeah not worth it.
Excellent Service - Skip The Big Banks
I love being a member of BCU because it feels a lot more personal than banking with a huge institution. Even the things that could be considered downsides, like fewer ATMs, are mitigated by the fact that the credit union does not charge huge fees for many other services. Additionally, different credit unions usually have an agreement with one another, so if you can find a credit union ATM, you usually won't be charged a fee, even it it's not YOUR credit union. My only beef with BCU is that cashier's checks used to be free, but they started charging a $3 fee for them a year or two ago. Now, it's not that big a deal, because I only need cashier's checks once or twice a year, but I liked that they were free. I feel like $3 for a piece of paper is a little outrageous. That being said, the "big bank" I used to use charged $10, so I suppose $3 isn't too bad in comparison!
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68187 |
| Year Chartered | 1980 |
| Employees | 700 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.77% |
| Return on Equity - YTD | 8.22% |
| Annual Interest Income | $166.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $4.48B$3.92B |
| Loans | Q4 2020vs Q4 2019 | $3.86B$3.47B |
| Deposits | Q4 2020vs Q4 2019 | $3.83B$3.10B |
| Equity Capital | Q4 2020vs Q4 2019 | $415.4MM$368.0MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $36.1MM$23.1MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $12.7MM$17.0MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $61.00K$606.00K |
