Chicago Municipal Employees Credit Union


Overview / Commentary
312-236-2326
18 S Michigan Ave Ste 1000
Chicago, IL 60603

Chicago Municipal Employees Credit Union is headquartered in Chicago and is the 67th largest credit union in the state of Illinois. It is also the 2,275th largest credit union in the nation. It was established in 1926 and as of December of 2023, it had grown to 14 employees and 11,213 members at 3 locations. Chicago Municipal Employees Credit Union's money market rates are 12X the national average, and it has a C+ health rating.

Field of Membership Restrictions

Chicago Municipal Employees Credit Union is open to all employees of the City of Chicago and its sister agencies. Individuals who live or work in a part of Cook County also qualify for membership. (Northern boundary is Central Avenue; western boundary is Cook County/Will County/DuPage County intersection, then following Cook County border straight north intersecting with Central Road; eastern boundary is Lake Michigan; and southern boundary is Cook County border.)
See current membership details

Reviews (1)

Customer Service Lacking

Not easy to deal here. Customer service reps not well trained or knowledgeable. In person service only 1 day per week at location in safe neighborhood, and you can't rely on someone being there. Need to call first. Phones don't get answered promptly. Calls do not get prompt response. Only reason to deal here is that at present they are 1 of only 2 institutions with decent rates. They have little knowledge of IRS regs re IRA accounts. When I asked for a Transfer form, they gave me a Rollover form and did not understand the difference.



Health
C+
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Chicago Municipal Employees Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #65932
Year Chartered1926
Employees14
Primary Regulator
Profit Margin
Return on Assets - YTD-0.68%
Return on Equity - YTD-7.61%
Annual Interest Income$2.8MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$61.1MM$58.6MM
LoansQ4 2023vs Q4 2022$38.3MM$32.9MM
DepositsQ4 2023vs Q4 2022$55.4MM$51.9MM
Equity CapitalQ4 2023vs Q4 2022$5.4MM$6.7MM
Loan Loss AllowanceQ4 2023vs Q4 2022$242K$339K
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$477K$332K
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Chicago Municipal Employees Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Chicago Municipal Employees Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.31%*$10k*-IRA Account
OTHER TIERS: 2.21% $500 - $10k
1.55%--Holiday Club Account
0.15%*$10k*-Regular Shares Account
OTHER TIERS: 0.10% $25 - $10k
0.15%$100-Premium Payroll
0.10%$100-Business Savings Account

Chicago Municipal Employees Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.25%$5k-Money Market Promo - New Money
5.25%$5k-Business Money Market Promo - New Money
3.05%*$50k*-Money Market Account
OTHER TIERS: 2.75% $2.5k - $10k | 2.95% $10k - $50k
0.35%$10k-Business Money Market

Chicago Municipal Employees Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$2k-Universal Checking
0.05%$1k-Basic Checking
0.05%--Business Checking

Chicago Municipal Employees Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.80%$5k-36 Month Share Certificate Special - New Money
5.80%$5k-Business 36 Month Share Certificate Special - New Money
5.60%$5k-18 Month Share Certificate Special - New Money
5.60%$5k-Business 18 Month Share Certificate Special - New Money
4.73%*$25k*-48 Month Share Certificate
OTHER TIERS: 4.53% $1k - $10k | 4.63% $10k - $25k
4.52%*$25k*-36 Month Share Certificate
OTHER TIERS: 4.32% $1k - $10k | 4.42% $10k - $25k
4.42%*$25k*-24 Month Share Certificate
OTHER TIERS: 4.02% $1k - $10k | 4.12% $10k - $25k
4.12%*$25k*-18 Month Share Certificate
OTHER TIERS: 3.81% $1k - $10k | 3.91% $10k - $25k
4.02%*$25k*-12 Month Share Certificate
OTHER TIERS: 3.71% $1k - $10k | 3.81% $10k - $25k
3.81%-$25k36 Month Financial Health Club Certificate
3.71%*$25k*-6 Month Share Certificate
OTHER TIERS: 3.41% $1k - $10k | 3.51% $10k - $25k
3.51%-$25k24 Month Financial Health Club Certificate
3.41%-$25k18 Month Financial Health Club Certificate
3.20%-$25k12 Month Financial Health Club Certificate
0.75%*$25k*-Business 36 Month Share Certificate
OTHER TIERS: 0.60% $1k - $10k | 0.70% $10k - $25k
0.70%*$25k*-Business 24 Month Share Certificate
OTHER TIERS: 0.55% $1k - $10k | 0.60% $10k - $25k
0.60%*$25k*-Business 12 Month Share Certificate
OTHER TIERS: 0.45% $1k - $10k | 0.50% $10k - $25k
0.50%*$25k*-Business 6 Month Share Certificate
OTHER TIERS: 0.20% $1k - $10k | 0.30% $10k - $25k
Locations


Chicago Municipal Employees Credit Union Locations
Branch Office18 S Michigan Ave Ste 1000Chicago, IL 60603
Branch Office6612 W North AveChicago, IL 60707
Branch Office3510 S Michigan Ave Suite 119Chicago, IL 60653

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