BCU (formerly known as Baxter Credit Union) has added an 11-month CD Special earning 2.25% APY. The minimum deposit is $500, with no stated balance cap.
While BCU does offer higher rates (between 10 and 25 bps) on its CDs through its Rewards Rate program, the 11-month CD Special is excluded.
According to CSR, the Early Withdrawal Penalty for CDs with terms of 12 months or less is 30 days dividends on the amount being withdrawn. Partial withdrawals are permitted, as long as a minimum $500 balance is maintained.
Note: The Certificate Disclosure contains some vague (and outdated) information about a No Penalty Certificate, which may be confusing. BCU previously offered a 13-month No Penalty Certificate and the wording in the Disclosure applied to the now-expired 13-month CD. Bottom line, the 11-month CD Special is not a No Penalty Certificate.
Headquartered in Vernon Hills, Illinois, BCU’s field of membership (FOM) is open to those who live or work in the Illinois counties of DuPage, Kane, Lake, or McHenry, or Kenosha County, Wisconsin. In addition, those who live or work in portions of Cook County (north of 95th Street in Chicago) are eligible for membership.
Employees of 88 SEGs (including Baxter Healthcare) also qualify for membership.
Immediate or extended qualifying family of an existing BCU member related by blood, marriage, fostering or adoption are eligible to join. “Eligible family members include: spouses, parents, children, siblings, domestic partners, grandchildren, grandparents, aunts, uncles, nieces, nephews, and cousins.”
Joining BCU can be done online or at any of full-service 44 branches located in Arkansas (1), California (7), Florida (1), Illinois (8), Indiana (3), Kansas (1), Maryland (1), Massachusetts (2), Minnesota (11), Mississippi (1), North Carolina (2), Ohio (3), Texas (1), Utah (1), and Wisconsin (2). There are also eight branches in Puerto Rico.
While checking and savings accounts can be opened online, opening a CD can only be done in-branch or by calling 800.388.7000.
We will fund the [Share Account] $1.00 minimum deposit as a way to say “Welcome”!
BCU is a member of the Credit Union Service Centers (CUSC) network, giving members,
the ability to perform many transactions and obtain many of the same services at
other Shared Branch locations, just as you would within our own Service Centers.
Credit Union Overview
BCU has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.35% (excellent) based on June 30, 2019 data. In the past year, BCU has increased its total non-brokered deposits by $307.58 million, an excellent annual growth rate of 11.24%. Please refer to our financial overview of BCU (NCUA Charter # 68187) for more details.
Founded as Baxter Credit Union in 1981, BCU was established by Baxter executives for the convenience and financial well-being of their employees. (Baxter is a global, diversified healthcare company with annual sales of over $10 billion). BCU is currently Illinois’ fourth largest credit union, with more than 260,800 members and assets in excess of $6.3 billion.
How the CD Special Compares
When compared to 360 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, BCU’s 11-month CD Special APY currently shares the top spot with CD APYs offered by five other financial institutions.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.25% APY||11-Month CD Special||BCU|
|2.22% APY||14-Month CD Special||Financial Resources Federal Credit Union|
|2.20% APY||12-Month CD||USALLIANCE Financial|
The above rates are accurate as of 12/4/2019.
To find the most competitive CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.