Featured Savings Rates
Featured Accounts

Consumers Credit Union (IL)

Popular Accounts at this Credit Union

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

Overview / Commentary
847-623-3636
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 282nd largest credit union in the nation. It was established in 1930 and as of March of 2016, it had grown to 252 employees and 83,071 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.
See current membership details

Related Posts

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

Consumers Credit Union (IL): 2% And 2.5% Limited-Time Rebates On Their VISA Signature Cash Rebate Card in specific categories - 11/18/2015

In the afternoon mail yesterday, a letter from the credit union with the following: ... When you use your Consumers Credit Union VISA Signature Cash Rebate credit card now through December 31, 2015, you can earn a $10 rebate for $500 or a $25 rebate for $1,000 in travel and dining purchases.    Limit one rebate per credit card for a maximum rebate of $25. Caveats:  (1) This offer may/not be targeted, so YMMV. (2) The $10 and $25 rebates are respectively 2% and 2.5% rebates on these spending categories, which are not otherwise eligible for bonuses with this card (normally 3/2/1 on grocery/convenience store purchases, gas purchases and all other respectively).

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.

A Credit Union You Can Rely On

I have been a member of Consumers Credit Union in northeastern Illinois since my previous credit union merged with them in February. I occasionally need to make deposits to my checking account at a conveniently located branch where the staff is efficient. I seldom experience waiting. Practically everything you would need to do can be done on their web site. Although it is not a state of the art website, it is not difficult to navigate. They do have a program that pays an exceptional interest rate on checking if you meet the qualifications. However, I have never met those qualifications as it requires numerous non-PIN debit card transactions, and I just never happen to have those kinds of transactions. I have never had to pay any monthly fees for my checking account. I like the concept of credit unions because you are a member and not just a cog in some huge commercial banking institution, and Consumers Credit Union definitely meets those needs.

Nearly Impossible To Use Debit Card As A Credit Card

After 4 happy years with CCU I have just closed my account. All merchants in my part of Ft Worth have changed their card machines so that the debit card cannot be used as a credit card. It only can be used as a debit card and CCU refuses to change the requirement. I'll be moving my money to a credit union that lets me use their debit card as a debit card.

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Health
A

Health Grade Components

Overall
NCUA #68588
Year Chartered1930
Employees252
Primary Regulator
Profit Margin
Return on Assets - YTD-0.15%
Return on Equity - YTD-1.74%
Annual Interest Income$8.6MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$930.8MM$677.0MM
LoansQ1 2016vs Q1 2015$583.5MM$455.3MM
DepositsQ1 2016vs Q1 2015$844.4MM$614.4MM
Equity CapitalQ1 2016vs Q1 2015$79.8MM$56.6MM
Loan Loss AllowanceQ1 2016vs Q1 2015$3.8MM$4.3MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$2.1MM$1.1MM
Real Estate OwnedQ1 2016vs Q1 2015$0$873.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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
Locations


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