CEFCU is headquartered in Peoria and is the 2nd largest credit union in the state of Illinois. It is also the 35th largest credit union in the nation. It was established in 1937 and as of June of 2022, it had grown to 964 employees and 375,835 members at 33 locations. CEFCU's CD rates are 18% higher than the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in CEFCU is open to those who live or work in the Illinois counties of Bond, Christian, Clinton, Fulton, Jersey, Knox, Livingston, Logan, Macon, Macoupin, Madison, Marshall, Mason, McLean, Monroe, Montgomery, Peoria, Putnam, Randolph, Saint Clair, Sangamon, Stark, Tazewell, Washington, or Woodford. Individuals who who live, work, or regularly worship in the California counties of Alameda, Contra Costa, or Santa Clara are also eligible to join. Membership is also open to employees or retirees of Caterpillar, Inc., its dealerships and subsidiaries, and to other partner companies.
See current membership details
Related Posts
2/14/12 - More Publicity on CEFCU's CD Early Withdrawal Penalty Change
1/20/12 - Another Credit Union Increases Early Withdrawal Penalty on Existing CDs
4/28/10 - Top Long-Term CD Rates at CEF Credit Union in IL & CA - Local Only
2/4/10 - Great Place To Put Your Money
12/2/09 - 3.50% 60-Month CD at CEF Credit Union in IL & CA - Local Only
3/10/09 - 3.10% 24-Month CD at CEFCU in California and Illinois
8/9/07 - 5.55% 5-Month CD at an Illinois Credit Union (CEFCU)
8/7/06 - 6.00% 7-Month CD at an Illinois CU (CEFCU)
Great experience at local credit union.
I recently paid off my car loan through CEFCU, my local credit union. Working with CEFCU was easy. My rates were better than any of the big banks and the customer servive was top notch. Not only were fees virtually nonexistant, but I received a dividend as a contributor to their profits. The online portal made it easy to check my loan balance and make payments. When I wanted to make payments in person, it was just as easy. They have several conveniently located locations in my area. The tellers are always courtious and I never seem to have to wait in line. I will definitely consider CEFCU as my first choice for my next car loan.
20 Year Member
I have been a member of CEFCU for over 20 years. I have a checking account and savings account established there. I feel like it took a longer time for CEFCU to advance with the technology required in today's banks, but they have finally come around to providing quality products that have current technology. The ability to also walk into any local branch and talk to a qualified individual about my banking needs is very refreshing in these times of only speaking through technology as well. I have established my teenage son his own accounts there as well to build him a solid banking history and establish good habits.
Cefcu Review
Cefcu has the worst customer service of any bank that we have ever dealt with. We had set up a Cefcu account about 2 years ago to see if we liked it as a secondary account before we transferred some direct deposits over blindly.... it has been nothing but a headache! I think our experiment is over!
For anyone looking for banking...stay away! PNC has been amazing to our family for the last 10 years! Looks like they will be getting another account from us.
Unhappy Customer
This bank is by far the most horrible bank ever. I only have this bank to pay my car loan and this bank has given me nothing but trouble. They are rude, unprofessional, and it is a pain to bank with them. As I try to continue on to pay my bill over the phone the representatives are rude, and impatient. I have been paying my car loan for over two years and they have been taking my car loan money out plus more. I didnt find out until today because I thought they were just taking the amount that I wanted them to take out. I dont recommend this bank, it has no benefits and they set your account up to make it where you overdraft your card. Not to mention they only let you use your card 3 times a month. How can I only use my card 3 times a month when its my money??? Dont bank at CEFCU they are horrible!!!
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68448 |
| Year Chartered | 1937 |
| Employees | 964 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.11% |
| Return on Equity - YTD | 13.22% |
| Annual Interest Income | $109.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $7.85B$7.58B |
| Loans | Q2 2022vs Q2 2021 | $5.16B$4.93B |
| Deposits | Q2 2022vs Q2 2021 | $7.00B$6.75B |
| Equity Capital | Q2 2022vs Q2 2021 | $666.9MM$632.4MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $32.5MM$32.5MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $25.3MM$16.9MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$2.5MM |
