BCU (formerly known as Baxter Credit Union) is currently offering three competitive CD Specials: 5-month (0.65%APY), 11-month (0.75% APY), and 18-month (1.00 APY). The minimum deposit is $500, with no stated balance cap.
|1.00%||$500||-||BCU||18 Month CD Special|
|0.75%||$500||-||BCU||11 Month CD Special|
|0.65%||$500||-||BCU||5 Month CD Special|
While BCU has offered higher rates on its CDs through its Rewards Rate program in the past, the Rewards CD Specials currently offer the same rates as the CD Specials.
As stated on the CD Penalties page, the Early Withdrawal Penalty (EWP) reads as follows,
3-12 month term – 30 days interest penalty
13-24 month term – 90 days interest penalty
The EWP applies to the amount being withdrawn. Partial withdrawals are permitted, as long as a minimum $500 balance is maintained.
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 more than 90 SEGs (including Baxter Healthcare) also qualify for membership. A complete list of the SEGs appears on the first page of the online Membership Application.
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 57 branches located in Arkansas (1), Southern California (6), Florida (2), Georgia (1), Illinois (8), Indiana (3), Kansas (1), Maryland (2), Massachusetts (1), Minnesota (8), Mississippi (1), New York (2), North Carolina (2), Ohio (2), Texas (5), Utah (1), Virginia (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 was a member of the Credit Union Service Centers (CUSC) network, but
BCU will be discontinuing our participation in the Shared Branch network as of July 1, 2021. Our members come first in every decision that we make, and with the prevalence of easy-to-use digital alternatives, concerns regarding member experience, fewer credit unions participating as well as declining member usage, we feel that now is the best time to continue to invest further in long-term solutions that provide account access anytime, anywhere for all members.
Credit Union Overview
BCU has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.22% (excellent) based on March 31, 2021 data. In the past year, BCU has increased its total non-brokered deposits by $1 billion, an excellent annual growth rate of 30.4%. 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 295,000 members and assets in excess of $4.9 billion.
How the CD Specials Compare
When compared to similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, BCU’s 18-month CD Special APY currently ranks first.
When compared to 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 ranks second.
The above information and rates are accurate as of 8/5/2021.
To find the most competitive CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.