Featured Savings Rates
Featured Accounts

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
0.15%18-month CD16 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 264th largest credit union in the nation. It was established in 1930 and as of December of 2016, it had grown to 279 employees and 88,599 members at 10 locations. Consumers Credit Union (IL) has a B+ health rating.

Field of Membership Restrictions

Membership in Consumers Credit Union is open to anyone through paying a one-time $5 fee to Consumers Cooperative Association.
See current membership details

Related Posts

Consumers Credit Union 16-Month Jumbo CD Rate Increases - 12/8/2016

Consumers Credit Union (easy membership) has raised the rate on its 16-month CD (1.60% APY, $500 min) and 16-month Jumbo CD (1.85% APY, $100k min).

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.

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
11/22/09 - High-Yield Reward Checking Account at an Illinois CU - Easy Membership (Consumers)
11/21/09 - 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
4/4/09 - 5.05% 59-Month / 4.00% 16-Month CD at Consumers Credit Union in IL - Easy Membership
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 Experience And Tips

Posted by: Mel Dixon | Feb 25, 2017

I've been with Consumers Credit Union for several year and everything has been outstanding except for disputing credit card charges which requires more effort than other credit card companies and they are more supportive of the big guy than their customer. The checking and savings accounts have been flawless and I have had no issue earning top rate every month.

Here is a great tip for making sure you get your credit transactions on your debit card. Set up subscribe-n-save purchases with Amazon that occur monthly for items costing under $25 each and set them to charge your CCU debit card. Amazon will process each one separately as separate charges on your card. You do need to go into your Amazon account and set it to charge your debit card as a credit card because the default is to process the charges as credits. Trader Joe's and Sprouts are other good ways to meet the transaction requirement as many stores don't get you a choice with the new chip cards other than to process as a credit

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.

Consumers Credit Union Visa Needs Help!

After experiencing fraud on my credit card, and CCU investigating, they left one small fraud charge on my bill. It has taken several calls, several episodes of holding 10, 15 minutes and now finally a 45 minute wait on hold to finally get to speak to someone in management who still could not reverse the charge, but kindly said she would walk down the hall to fraud management and ask them to get this handled. It still remains to be seen if it gets handled correctly. I had to call at least 3 or 4 times and was told fraud management is extremely busy and would call back and they never have. CCU has been fine in all other areas, but beware if you are a victim of fraud with their Visa card and you may experience poor customer satisfaction, too, as they seem to be short-staffed in their fraud department. Never had these problems with Discover or American Express or any other Visa or Master Card credit cards I've used in the last 45 years!


Posted by: LJWQ44 | Apr 19, 2017

I banked with CU for nearly 5 years. The shared branches was extremely convenient as there has always been one near my location in both WI and NV. I never stepped foot in any of their branches in IL. My favorite thing was the high APY. Refunded ATM fees were my next favorite thing. They'd have to reissue my card for a 2nd time every time b/c they would always issue me one with my name spelled incorrectly. Fraud alerts were spotty and unreliable, but at least they have them. BofA beat them on the interest rate for my vehicle. Moving to another time zone proved to be a big issue of convenience for me. So I temporarily switched my DD to another bank local to me. An unscrupulous merchant continued to charge my CU account w/o permission . When I spoke to customer service about it, they were totally disinterested in helping me. I would clear up the NSF fees only for it to happen again and after 2 weeks of this, they simply closed my account with no notice! I was given 3 completely different answers from different reps about the recourse I could take, but in the end there was none and they made no effort. Customer service definitely could be better and I have NEVER heard of an account closed b/c of 2 weeks overdrawn status.



Health Grade Components

NCUA #68588
Year Chartered1930
Primary Regulator
Profit Margin
Return on Assets - YTD0.57%
Return on Equity - YTD6.97%
Annual Interest Income$36.4MM
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$1.05B$902.0MM
LoansQ4 2016vs Q4 2015$662.7MM$573.7MM
DepositsQ4 2016vs Q4 2015$925.5MM$817.1MM
Equity CapitalQ4 2016vs Q4 2015$81.0MM$78.4MM
Loan Loss AllowanceQ4 2016vs Q4 2015$4.2MM$3.9MM
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$3.8MM$1.5MM
Real Estate OwnedQ4 2016vs Q4 2015$144.00K$106.00K
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Always verify rates and promotions with the bank or credit union. We are not Consumers Credit Union (IL); 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.

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% $25k+ | 0.20% $20k - $25k
3.59%*-$15kFree Rewards Checking (Medium)
OTHER TIERS: 0.10% $25k+ | 0.20% $15k - $25k
3.09%*-$10kFree Rewards Checking (Low)
OTHER TIERS: 0.10% $25k+ | 0.20% $10k - $25k

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

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