CommonWealth Credit Union

Overview / Commentary
563 William R Latham Sr Dr
Bourbonnais, IL 60914

CommonWealth Credit Union is headquartered in Bourbonnais and is the 54th largest credit union in the state of Illinois. It is also the 1,767th largest credit union in the nation. It was established in 1951 and as of December of 2019, it had grown to 23 employees and 10,824 members at 2 locations. CommonWealth Credit Union has a B+ health rating.

Field of Membership Restrictions

CommonWealth Credit Union offers membership to anyone who works or lives in Ford, Grundy, Iroquois, Kankakee, Kendall, Livingston or Will County, Illinois.
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Reviews (1)

Common Wealth Report Card

Common Wealth Credit union is the largest credit union in the state. One of the main reasons I'm attracted to this bank is simply because it started when i was a young man at the age of 18 and needed a new bank account. My last bank tried to rob me and then make me pay them back for doing it, so they black balled me and said i couldn't open a bank account anywhere in the country. So I went to Common Wealth Credit Union and explained the situation and in less than ten minutes there was a team member setting me up an account for both checking and savings. Now as a grown man I'm still with the same bank and wouldn't even consider changing banks because Commonwealth Credit Union offers fantastic services for all those with some type of banking needs. I had recently purchased a car and needed a loan from this credit union; the process was quick and simple, along with excellent customer service. Their rates are fantastic and I would highly recommend a friend to use this service if they need things such as loans. Furthermore, their online banking system saved me a ton of frustration as most other credit unions use a too complex online system. The interface is sleek and efficient. Lastly, their in-person customer service (at my local region) is great; they answer all questions efficiently and bank transactions are hassle-free. Great bank

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. CommonWealth Credit Union has a relatively low asset base.

Health Grade Components

NCUA #97095
Year Chartered1951
Primary Regulator
Profit Margin
Return on Assets - YTD0.73%
Return on Equity - YTD6.67%
Annual Interest Income$3.2MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$86.9MM$82.5MM
LoansQ4 2019vs Q4 2018$63.7MM$65.8MM
DepositsQ4 2019vs Q4 2018$75.3MM$73.4MM
Equity CapitalQ4 2019vs Q4 2018$9.4MM$8.9MM
Loan Loss AllowanceQ4 2019vs Q4 2018$176.00K$204.00K
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$424.00K$202.00K
Real Estate OwnedQ4 2019vs Q4 2018$0$0
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Always verify rates and promotions with the bank or credit union. We are not CommonWealth 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.

CommonWealth Credit Union Savings Account Rates

0.80%*-$15kStarphire Rewards Savings
OTHER TIERS: 0.30% $15k+
0.25%*$10k*-IRA Share Account
OTHER TIERS: 0.15% $25 - $10k
0.10%$25-Savings Account

CommonWealth Credit Union Money Market Rates

0.15%*$50k*-Money Market Account
OTHER TIERS: 0.05% $1.5k - $25k | 0.10% $25k - $50k

CommonWealth Credit Union Checking Account Rates

0.10%$5k-Checking Account

CommonWealth Credit Union CD Rates

0.85%$1k-60 Month CD
0.70%$1k-48 Month CD
0.55%$1k-36 Month CD
0.50%$1k-24 Month CD
0.45%$1k-12 Month CD
0.45%$1k-18 Month CD
0.25%$1k-6 Month CD

CommonWealth Credit Union IRA Rates

0.85%$1k-60 Month IRA
0.70%$1k-48 Month IRA
0.55%$1k-36 Month IRA
0.50%$1k-24 Month IRA
0.45%$1k-12 Month IRA
0.45%$1k-18 Month IRA
0.25%$1k-6 Month IRA

CommonWealth Credit Union Locations
Branch Office563 William R Latham Sr DrBourbonnais, IL 60914
Branch Office111 W Cherry StWatseka, IL 60970

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