Consumers Credit Union (IL)


Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
3.09%Reward CheckingFree Rewards Checking (Low)
2.00%5-year CD5 Year CD
0.75%1-year CD1 Year 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 6th largest credit union in the state of Illinois. It is also the 242nd largest credit union in the nation. It was established in 1930 and as of June of 2018, it had grown to 342 employees and 114,804 members at 12 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

Increases Rates, Lowers Maximum - 9/6/2018

Consumers Credit Union has made their rewards checking account less attractive. They lowered the balance (from $20K to $10K) to achieve the maximum rate and increased the rate to 5.09%. They now require at least $100 of debit card transactions per month.

Rates Are Being Cut Radically... - 9/4/2018

...starting October 1st 2018 Tier C 3.09% on 10k cap and 12 debit purchases totaling $100 or more. ACH debits and bill pay don't count towards qualifications. Tier B Meet Tier C 4.09% on 10k cap (formally 15k cap) spend 500$ on CC Tier A Meet Tier C 5.09% on 10k cap (formally 20k cap) spend 1000$ on CC

Consumers Credit Union Dropping Their Reward Checking To $10K Cap From $20K - 8/30/2018

Received the information in the mail this afternoon. Change is effective 10/1/18

View all posts from:

11/4/14 - Consumer Credit Union Increased From $10,000 To $20,000 --- Rate 4.09% To 5.09%
3/4/14 - Unique Changes Made to Consumers Credit Union’s Free Rewards Checking
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
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)

New Requirements 10/01/2018 Not Worth The Effort.

Posted by: kiwi | Sep 14, 2018

Have $20,000 in, Going, Going, Gone. I had already pulled out $10,000 with their last change. Too bad. I have been with them many years. I'll just keep min and active just in case they get better in the future.
I'm putting it in an index 500 fund and letting it ride. I'll get a much higher long term return. I agree with "Went from WOW to Why Bother".

Went From Wow To Why Bother.

Posted by: kib | Sep 9, 2018

CCU just changed their reward policies, as indicated by several other reviews. I have to admit I don't know how they offered a rate / "hoops" so much better than other banks to begin with, but their new policies put them squarely in the middle of the pack, or worse. It's a big increase in money going into an account I don't use for bill paying, and more forced spending, at a significant reduction in potential earnings. $100 / 12 transactions on my debit card when I'm already trying to meet a big minimum on my credit card is just obnoxious. Frankly, it will be a relief not to jump through these hoops any more, I'll just invest my money in something else.

So Far, So Good.

Posted by: Jim Avila | Sep 4, 2017

I've had the rewards checking for a year now and haven't had issues. Sure the credit card transactions take some time to clear, but whatever. Just make sure you have them in on time. If you want to earn the reward, do the work!

I've read the rate has gone down from 5.49%. I never was around to get this, but either way, 4.5% is still good. Thats over $70 a month on a 20k balance. Over $800 a year in free money...cant beat that.

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

VIEW MORE REVIEWS

Health
B+

Health Grade Components

Overall
NCUA #68588
Year Chartered1930
Employees342
Primary Regulator
Profit Margin
Return on Assets - YTD0.62%
Return on Equity - YTD7.48%
Annual Interest Income$26.6MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$1.22B$1.10B
LoansQ2 2018vs Q2 2017$891.7MM$703.6MM
DepositsQ2 2018vs Q2 2017$1.08B$977.2MM
Equity CapitalQ2 2018vs Q2 2017$102.7MM$83.9MM
Loan Loss AllowanceQ2 2018vs Q2 2017$5.2MM$4.4MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$5.3MM$4.3MM
Real Estate OwnedQ2 2018vs Q2 2017$0$309.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Increases Rates, Lowers Maximum

beth   |  
Consumers Credit Union has made their rewards checking account less attractive. They lowered the balance (from $20K to $10K) to achieve the maximum rate and increased the rate to 5.09%. They now require at least $100 of debit card transactions per month.

Rates Are Being Cut Radically...

lbzee   |  
...starting October 1st 2018

Tier C
3.09% on 10k cap and 12 debit purchases totaling $100 or more. ACH debits and bill pay don't count towards qualifications.

Tier B
Meet Tier C
4.09% on 10k cap (formally 15k cap) spend 500$ on CC

Tier A
Meet Tier C
5.09% on 10k cap (formally 20k cap) spend 1000$ on CC

Consumers Credit Union Dropping Their Reward Checking To $10K Cap From $20K

Anon1234   |  
Received the information in the mail this afternoon. Change is effective 10/1/18

Rewards Checkng Account Changing

monnomdeplume   |  
Got letter from CCU today. Changes effective 10/1/18.

Will need:
Complete at least 12 debit card purchases totaling $100
Direct Deposit or ACH credit of $500 or more posts to your account monthly
Receive eDocuments

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
0.05%--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

Consumers Credit Union (IL) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.90%$100k-45 Month Jumbo CD Special
2.80%$250-45 Month CD Special
2.60%$100k-15 Month Jumbo CD Special
2.50%$250-15 Month CD Special
2.10%$100k-5 Year Jumbo CD
2.00%$250$100k5 Year CD
1.95%$100k-7 Month Jumbo CD (New Money)
1.85%$250-7 Month CD (New Money)
1.85%$100k-4 Year Jumbo CD
1.75%$250$100k4 Year CD
1.70%$100k-3 Year Jumbo CD
1.60%$250$100k3 Year CD
1.55%$100k-30 Month Jumbo CD
1.45%$250$100k30 Month CD
1.40%$100k-2 Year Jumbo CD
1.30%$250$100k2 Year CD
1.25%$100k-18 Month Jumbo CD
1.15%$250$100k18 Month CD
0.85%$100k-1 Year Jumbo CD
0.75%$250$100k1 Year CD
0.50%$250$100k6 Month CD
0.50%$100k-6 Month Jumbo CD
0.25%$250$100k91 Day CD
0.25%$100k-91 Day Jumbo CD

Consumers Credit Union (IL) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.90%$100k-45 Month Jumbo IRA Special
2.80%$250-45 Month IRA Special
2.60%$100k-15 Month Jumbo IRA Special
2.50%$250-15 Month IRA Special
2.10%$100k-5 Year Jumbo IRA
2.00%$250$100k5 Year IRA
1.95%$100k-7 Month Jumbo IRA - New Money
1.85%$250-7 Month IRA - New Money
1.85%$100k-4 Year Jumbo IRA
1.75%$250$100k4 Year IRA
1.70%$100k-3 Year Jumbo IRA
1.60%$250$100k3 Year IRA
1.55%$100k-30 Month Jumbo IRA
1.45%$250$100k30 Month IRA
1.40%$100k-2 Year Jumbo IRA
1.30%$250$100k2 Year IRA
1.25%$100k-18 Month Jumbo IRA
1.15%$250$100k18 Month IRA
0.85%$100k-1 Year Jumbo IRA
0.75%$250$100k1 Year IRA
0.50%$250$100k6 Month IRA
0.50%$100k-6 Month Jumbo IRA
0.25%$250$100k91 Day IRA
0.25%$100k-91 Day Jumbo IRA
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