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Consumers Credit Union (IL)

Popular Accounts at this Credit Union

3.09%Reward CheckingFree Rewards Checking (Low)
1.05%5-year CD59 Month Jumbo CD
0.10%1-year CD10 Month CD

Overview / Commentary
1075 Tri State Pkwy Ste 850
Gurnee, IL 60031

Consumers Credit Union (IL) is headquartered in Gurnee and is the 7th largest credit union in the state of Illinois. It is also the 286th largest credit union in the nation. It was established in 1930 and as of June of 2016, it had grown to 268 employees and 84,950 members at 10 locations. Consumers Credit Union (IL) has an A health rating.

Field of Membership Restrictions

Consumers CU of Illinois is uniquely available to any and everyone, anywhere, open to any field of occupation, through a one-time, non-refundable $5 fee to our sponsor, the Consumers Cooperative Association.
See current membership details

Related Posts

Consumers Credit Union (IL) Free Rewards Checking Changes - 9/2/2016

Consumers Credit Union's (IL) Free Rewards Checking qualification requirements may have changed, but it's still one of the most competitive RCAs available nationwide.

Consumers Credit Union : new debit cards with EMV chips on their way within the next 8 weeks - 2/23/2016

In the afternoon mail, a letter from the credit union informed of this upcoming event.  The letter mentioned that If the information on your account does not reflect your current address, you may not receive your card.  The letter also suggested visiting myconsumers.org/emvdebit for more information, but this link sent me to the home page, and there was nothing I could see related to the EMV card. 

Consumers Credit Union (IL): Changes To VISA Account Terms Effective 1/1/16 - 11/28/2015

In the afternoon mail, a letter with enclosure notifying of a change in terms which will apply to VISA SIgnature Cash Rebate and VISA Signature Rewards cardholders alike, effective 1/1/16, as follows. Transactions made on or after 1/1/16:  VISA Signature Cash Rebate cardholders will earn a 3% cash rebate on a maximum of $6,000 in annual spend for grocery and convenience store purchases.  This equates to a maximum annual cash rebate of $180 for grocery and convenience store purchases.  Transactions made before 1/1/16:  Current cash rebate tiers will continue to apply to these transactions.  and the notice continues: Transactions made on or after 1/1/16:  VISA Signature Rewards cardholders will earn three times the points per dollar spent on a maximum of $6,000 in annual spend for grocery and convenience store p

View all posts from:

3/20/12 - Bad News About Consumers Credit Union July Rates
3/13/12 - What's It Going To Be After ????
11/22/11 - Consumers Credit Union Offers E-Delivery Of All Notices
10/29/11 - Consumers Credit Union $50/$50 Referral Promotion
10/27/11 - Consumers CU 4.09% Guaranteed Thru 6/30/2012
10/27/11 - Consumers Credit Union's Reward Checking Guarantees 4.09% Through June 30, 2012
9/1/11 - Consumers Credit Union Rate Drop For Over $10K Effective 10/1/2011
8/26/11 - Rewards Checking Refer A Friend
7/27/11 - Rates and Early Withdrawal Penalties of the Best Long-Term CDs
6/7/11 - Comparing CDs Based on Rates and Early Withdrawal Penalties
6/3/11 - Top CD Rates & Other Deals at Consumers Credit Union - Easy Membership
2/1/11 - Rewards Problem
12/19/10 - Competitive Reward Checking & CD Rates at Consumers Credit Union - Easy Membership
9/20/10 - Consumers Credit Union's Reward Checking Balance Cap To Fall To $10K
6/7/10 - Card Useage Change for Consumers CU
3/31/10 - Consumers Credit Union Cutting Reward Checking Rate in April
8/4/09 - 2.25% 7-Month Jumbo CD & Other Competitive CDs at Consumers Credit Union - Easy Membership
4/13/09 - 3.00% 22-Month CD & Other Competitive CD Rates at Consumers Credit Union in IL - Easy Membership
11/4/08 - 5.05% 59-Month / 4.00% 16-Month CD at Consumers Credit Union in IL - Easy Membership
8/14/07 - High-Yield Reward Checking Account at an Illinois CU - Easy Membership (Consumers)
6/15/07 - 5.55% 20-Month CD at an Illinois CU - Open To All (Consumers)
12/3/06 - 5.75% 20-Month CD at an Illinois CU - Open To All (Consumers)
4/24/06 - 5.50% 20-Month CD at an Illinois CU (Open To All)

Great Deal But Have To Stay On Top Of Requirements

They do what they say- rate doped by .50% but it is still at 4.59%

these days that is a great deal-

I have had no issues with them at all- if vendors are messing with debit / credit transactions to avoid paying the fee- tell them and take your business to another. Too bad the FED policy has everyone chasing every basis point they can find. Anyway I am very happy with them and have no complaints. They can't be making any money on me but I would let them compete for a loan in the future due to their rewards program.

My Review On Consumers Credit Union

Posted by: blueskies | May 9, 2015

I was looking through these reviews today wondering why the average rating was only 3 out of 5 stars. All I can say is, if you are going by these reviews in order to make your decision on opening an account with CU or not, please bear in mind the following observations of mine.

First, all credit unions have a share (savings) account with it's own account number. If you also have a checking account with them, it will have it's own account number. I have several credit unions I have accounts at and I have never had a problem with moving money (online transfers) in or out of my checking accounts with them. A quick example using Chase bank. It is nothing more than going into your Chase account, selecting transfers/external accounts and just simply being capable of entering the correct information (such as the correct account number of the account you want to be able to transfer money to and from), So, if you are setting up an external account with a credit union, it's simple, use the account number you are going to be transferring money in and out of. If it's checking, then use the checking account number. It's not fair to blame a banking institution for your failure in properly setting up your external accounts, they are only following your instructions.

As to the comment about teaser rates, everyone who uses the rewards checking accounts are fully aware of the rate changes and the cap amount. It has been like this since these accounts came into existence. Sure, it would be super great to open an account at 5% interest on up to $20,000.00 and never have to worry about it again except to do the required qualifications each month, but that's not the way it is. Just think about it, if it was that easy, everyone would be doing them. So, if you're not into keeping an eye on your account and knowing if the rate changes at the beginning of the cycle and become angry and feel cheated if it does, then this type account is not for you. I have never seen a rewards checking account have a GUARANTEED RATE before, so actually Consumers Credit Union is doing a very unique thing by guaranteeing these rates August 2015. That gives you plenty of notice to have another source set up to move your money to if the rates do change in August and they are unacceptable to you. Reminder, it's not a CD where you
are guaranteed a set rate for a set time, it is a checking account and like all checking accounts you can close at any given time.

As to the hold times on the telephone, I would say no different from anywhere else. I have found Monday mornings to be a bad time to call any bank, all banks are busier then. They will also ask you if you would prefer a call back, so you have that option. As for me, I select the option for accounts, usually hold time is less than a minute, more like 30 to 45 seconds.Every representative I have ever spoken to there has been extremely friendly and nice AND helpful. There was confusion on one of the 50/50 promotion referrals I did for someone and lady I spoke with was nice as she could be. I had minimum waiting time while she was checking on it and when she asked me if she could call me back while she did a little more research I said sure. Within minutes she called me back and said she had everything straightened out and we would see the money in our accounts in 2 days. In 2 days the money was deposited into our accounts. And how cool is that, I ask you.

As to the debit charges being swiped as credit, then processed as debit, I agree, this was offsetting to me, but not a game changing situation. As with any rewards checking account, it is always wise to get your requirements done early and not wait too close to the end of the monthly cycle. When this happened to me, it was early in the month. I saw where one of my debit charges had not counted towards the 12 required. I called and that is when I found out Walmart had changed their way of processing transactions (leave it to Walmart lol) Well, like I said, no game changer, it is easy enough to rectify that. For starters, don't make your debit transactions at Walmart (there's zillions of other places to make 12 transactions). Walmart has changed their credit/debit card readers so that they can send a debit card transaction (even if swiped as a credit and no pin used) through to the bank as a debit transaction. It is my understanding this can apply to charges under $50.00. So, easy to fix that, don't run your debit card through a Walmart card reader (even though you select credit) for an amount under $50.00 and expect it to show up on your bank account as credit charge. Simple as that. It IS not the bank's fault as to how it is processed, they process the transactions as how they are presented with them. CU has a status checking box in your account showing you where you stand with your requirements, so how much easier can it be? Do your requirements early in the month, look at your status box and when it says YES to all your requirements, you know you are good for the month on them. So, to sum it up, I've only had this happen once to me (debit run as a debit rather than a credit even though I did not enter my PIN). It was shortly after Walmart had changed out the card readers in my store and of course I wasn't aware they had changed their policies on how they processed the transactions. As I say, I do mine early in the month in order to avoid any problems, so I caught it early and it was no biggie. I immediately stopped using my debit card at Walmart
to qualify for the 12 debit transactions. Simple solution, right?

I do not attempt to make the requirements for the 5% and never have. I went into this with the intention of making the 4% because it is within my reach to do so and I am very happy with my 4% rate.

I know this is an extremely long review, but I think it is grossly unfair to give a bank a bad review based on your own shortcomings. It brings down the overall rating and makes a bad reflection and as I said, totally unfair since it has nothing to do with the performance of the bank, it is merely the ineptness of the reviewer to blame.

In conclusion, I personally find Consumers Credit Union a great credit union to do business with. I hope this review helps you out in making a decision about the credit union. I have been helped out by honest reviews before and happy people took the time and effort to make them, so I would like to return the favor.

Excellent 4.59%, Reporting Monitor Very Slow And Frustrating.

Posted by: kiwi | Aug 3, 2016

Excellent 4.59%, Reporting Monitor Very Slow. Hope they improve it soon. Lake Michigan CU has it added before I get home. CCU shouldn't take days. Make sure your charges count by making them 4-5 business days in advance of the closing date. We all need to complain about the slow reporting for the checking and credit card. It frustrates me very much. Maybe they would do something about it if all the account holders complain about it in writing and verbally to a president or VP.I hope someone in power at CCU reads this review posted on Deposit Accounts. Otherwise, they would have gotten 5 stars from me.

Where's The Love?

Consumer's has always been very polite and friendly whenever I've had a reason to call them in the past. It was a different situation this morning when I called asking about the growing problem of finding merchants who will honor the option to run the debit card through as a credit.

The girl I talked to was not very friendly and although never rude, let me know in no uncertain terms that the merchants offered me the option to run the card through as a credit. I told her again, I realized that, but the problem being they are not honoring that option and as far as Kroger (at least in my case) didn't even allow me the option with the new chip card.

She finally admitted they have had people calling them complaining how Walmart and McDonald's ran their charge through as a debit, When I said I'm sure you've heard complaints about Kroger as well by now, she had nothing to say except to stress we have no control over how the merchant chooses to present the charge. I said no, but you do have control over your policy and now that you are aware it is becoming increasingly more difficult for your customers to know just how their their charge is going to be presented to you, I am wondering if the credit union has considered changing their policy on this particular requirement (of having the debit charges run through as credit).

She said, no, It is the way we have always done it and there are no plans to change it. I asked, even when you know how difficult it is becoming for your customers? She said (again) the merchants offer you the option of running the card as a credit. We have no control over how they present it to us (as you can tell, by this the conversation had gone into the peat and repeat mode). and they can change how they do it at any time. You can call Visa and complain to them. I said, or CU could make the change and let us just swipe the card and let the charge be counted no matter how the merchant presented it to you. What response do i get? The charge MUST be presented as a credit in order for it to meet the required number of debit changes. Well, gee. How's that for customer service?

I told her that just because something had always been done one way, doesn't mean it can't be changed, especially when that one way has become increasingly more and more of a burden on their customers. I said, I'm not asking you do away with number of debits required or asking you to reduce the number required, I'm just asking if there has been any talk about changing the 'debit as credit' policy since it has been brought to your attention that 3 big, well known merchants in the country are not running these charges through as credit and who knows how many other merchants are doing (or soon will be doing) the same. I use this card at one grocery store that has not yet installed the chip readers, but I know that is soon coming to an end. So if they do like Kroger and require a pin, this is going to become a real challenge for me and definitely not even worth it. I have other reward checking accounts and I do not have one who has this silly requirement.

I'm giving the lowest rating due to the way I was talked to this morning. Rather than even pretend to be concerned (other than to say, I'm sorry but we have no control over the merchants) and even act like it might be possible for them to even consider a change might be needed due to this growing problem, I get the curt response of: we have no control over how the merchants present the charge, you can call Visa and complain to them, and lastly and to me the most absurd , this is the way we've always done it and this is the way we are going to continue doing it. lol Simply couldn't seem to comprehend that sometimes changes occur and with it comes the need to adapt.

I told her I am doing CU the favor by letting them use my money and yet they feel the need to be obstinate and unyielding to issues concerning their customers.

So, I know there is a better place for my money.



Health Grade Components

NCUA #68588
Year Chartered1930
Primary Regulator
Profit Margin
Return on Assets - YTD0.39%
Return on Equity - YTD4.53%
Annual Interest Income$17.5MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$926.7MM$681.4MM
LoansQ2 2016vs Q2 2015$605.8MM$476.5MM
DepositsQ2 2016vs Q2 2015$839.8MM$619.0MM
Equity CapitalQ2 2016vs Q2 2015$80.2MM$56.7MM
Loan Loss AllowanceQ2 2016vs Q2 2015$3.8MM$4.4MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$2.6MM$1.5MM
Real Estate OwnedQ2 2016vs Q2 2015$31.00K$419.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Consumers Credit Union (IL) Savings Account Rates

0.25%--Christmas Club Savings
0.25%--IRA Savings
0.25%--Roth IRA Savings
0.25%--SEP IRA Savings
0.25%--Education IRA Savings
0.05%--Membership Share Savings
0.05%-$5kSpecial Share Savings

Consumers Credit Union (IL) Money Market Rates

0.30%*$100k*-Money Market
OTHER TIERS: 0.10% $2k - $20k | 0.15% $20k - $40k | 0.20% $40k - $70k | 0.25% $70k - $100k
0.30%*$100k*-IRA Money Market
OTHER TIERS: 0.10% $2k - $20k | 0.15% $20k - $40k | 0.20% $40k - $70k | 0.25% $70k - $100k
0.30%*$100k*-Roth IRA Money Market
OTHER TIERS: 0.10% $2k - $20k | 0.15% $20k - $40k | 0.20% $40k - $70k | 0.25% $70k - $100k
0.30%*$100k*-SEP IRA Money Market
OTHER TIERS: 0.10% $2k - $20k | 0.15% $20k - $40k | 0.20% $40k - $70k | 0.25% $70k - $100k
0.30%*$100k*-Education IRA Money Market
OTHER TIERS: 0.10% $2k - $20k | 0.15% $20k - $40k | 0.20% $40k - $70k | 0.25% $70k - $100k

Consumers Credit Union (IL) Checking Account Rates

4.59%*-$20kFree Rewards Checking (High)
OTHER TIERS: 0.10% $20k+
3.59%*-$15kFree Rewards Checking (Medium)
OTHER TIERS: 0.20% $15k+
3.09%*-$10kFree Rewards Checking (Low)
OTHER TIERS: 0.10% $20k+ | 0.20% $10k - $20k

Consumers Credit Union (IL) CD Rates

1.85%$100k-5 Year Jumbo CD
1.65%$100k-4 Year Jumbo CD
1.60%$250-5 Year CD
1.40%$250-4 Year CD
1.05%$100k-59 Month Jumbo CD
1.00%$100k-18 Month Jumbo CD
0.85%$100k-45 Month Jumbo CD
0.80%$250-59 Month CD
0.75%$250-18 Month CD
0.70%$100k-3 Year Jumbo CD
0.60%$250-45 Month CD
0.60%$100k-30 Month Jumbo CD
0.55%$100k-2 Year Jumbo CD
0.50%$100k-22 Month Jumbo CD
0.45%$250-3 Year CD
0.45%$100k-20 Month Jumbo CD
0.40%$100k-1 Year Jumbo CD
0.40%$100k-15 Month Jumbo CD
0.40%$100k-16 Month Jumbo CD
0.35%$250-30 Month CD
0.35%$100k-7 Month Jumbo CD
0.35%$100k-8 Month Jumbo CD
0.35%$100k-9 Month Jumbo CD
0.35%$100k-10 Month Jumbo CD
0.35%$100k-11 Month Jumbo CD
0.30%$250-2 Year CD
0.25%$250-22 Month CD
0.20%$250-20 Month CD
0.15%$250-15 Month CD
0.15%$250-1 Year CD
0.15%$250-16 Month CD
0.10%$250-7 Month CD
0.10%$250-9 Month CD
0.10%$250-11 Month CD
0.10%$250-180 Day CD
0.10%$250-8 Month CD
0.10%$250-10 Month CD
0.05%$250-91 Day CD

Consumers Credit Union (IL) IRA Rates

1.85%$100k-5 Year Jumbo IRA
1.65%$100k-4 Year Jumbo IRA
1.60%$250-5 Year IRA
1.40%$250-4 Year IRA
1.05%$100k-59 Month Jumbo IRA
1.00%$100k-18 Month Jumbo IRA
0.85%$100k-45 Month Jumbo IRA
0.80%$250-59 Month IRA
0.75%$250-18 Month IRA
0.70%$100k-3 Year Jumbo IRA
0.60%$100k-30 Month Jumbo IRA
0.60%$250-45 Month IRA
0.55%$100k-2 Year Jumbo IRA
0.50%$100k-22 Month Jumbo IRA
0.45%$100k-20 Month Jumbo IRA
0.45%$250-3 Year IRA
0.40%$100k-1 Year Jumbo IRA
0.40%$100k-15 Month Jumbo IRA
0.40%$100k-16 Month Jumbo IRA
0.35%$100k-7 Month Jumbo IRA
0.35%$100k-8 Month Jumbo IRA
0.35%$100k-9 Month Jumbo IRA
0.35%$100k-10 Month Jumbo IRA
0.35%$100k-11 Month Jumbo IRA
0.35%$250-30 Month IRA
0.30%$250-2 Year IRA
0.25%$250-22 Month IRA
0.20%$250-20 Month IRA
0.15%$250-1 Year IRA
0.15%$250-15 Month IRA
0.15%$250-16 Month IRA
0.10%$250-180 Day IRA
0.10%$250-7 Month IRA
0.10%$250-8 Month IRA
0.10%$250-9 Month IRA
0.10%$250-10 Month IRA
0.10%$250-11 Month IRA
0.05%$250-91 Day IRA

Consumers Credit Union (IL) Locations
Branch Office2750 Washington StWaukegan, IL 60085-4959
Branch Office1210 S Lake StMundelein, IL 60060-3706
Branch Office2626 N Il Route 83Round Lake Beach, IL 60073-4983
Branch Office4946 Grand AveGurnee, IL 60031
Branch Office195 E Il Route 120Volo, IL 60073
Branch Office3737 N Lewis AveWaukegan, IL 60087-1502
Corporate Office1075 Tri State Pkwy Ste 850Gurnee, IL 60031-9182
Branch Office311 E Northwest HwyPalatine, IL 60067
Branch Office1334 Shermer RdNorthbrook, IL 60062-4608
Branch Office22 W Schaumburg RdSchaumburg, IL 60194-3502