Consumers Credit Union (IL) is headquartered in lake Forest and is the 5th largest credit union in the state of Illinois. It is also the 127th largest credit union in the nation. It was established in 1930 and as of June of 2024, it had grown to 484 employees and 226,273 members at 14 locations. Consumers Credit Union (IL)'s money market rates are 3X the national average, and it 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
8/20 - Consumers Credit Union Offers Excellent Rate On Smart Saver Account
3/5 - Consumers Credit Union (IL) Ups 20-Month CD Rates
5/7 - Consumers Credit Union Rewards Checking Rate Cuts and Minor Changes
4/18 - Consumer Credit Union Rewards Checking Drop From 3.09% To 2.09% Starting 5/1
9/6/18 - Increases Rates, Lowers Maximum
9/4/18 - Rates Are Being Cut Radically...
8/30/18 - Consumers Credit Union Dropping Their Reward Checking To $10K Cap From $20K
8/30/18 - Rewards Checkng Account Changing
12/8/16 - Consumers Credit Union 16-Month Jumbo CD Rate Increases
9/2/16 - Consumers Credit Union (IL) Free Rewards Checking Changes
2/23/16 - Consumers Credit Union : new debit cards with EMV chips on their way within the next 8 weeks
11/28/15 - Consumers Credit Union (IL): Changes To VISA Account Terms Effective 1/1/16
11/18/15 - Consumers Credit Union (IL): 2% And 2.5% Limited-Time Rebates On Their VISA Signature Cash Rebate Card in specific categories
9/21/15 - Consumers Credit Union Does Not Count Paypal Purchases
3/17/15 - Consumers Credit Union (up to 5.09%APY RCA) guarantee extended through at least 12/31/15
1/7/15 - Reminder of the Great Reward Checking Deal at Consumers Credit Union
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
6/7/10 - Card Useage Change for Consumers CU
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)
Avoid Like The Plague -- They'll Lose Your Money
Their customer service is useless, and I can no longer login to my account. After waiting on hold for a half hour, they told me there's no one there who can help me. I asked if there was anyone else I could speak with, but was told no, I need to call the main number (again). It appears the money I had deposited with them is lost.
They Provide Quality Customer Service
I highly recommend CCU as a Credit Union to go through.
Nevermind
Where do I even start. Called costumer service to open a savings account and possibly a checking account. Right of the away, very dismissive on the phone and directed me to the website. I asked if I could walk in and just opened and account at a location. And I was told I needed an appointment. Anyhow, I went online and opened an account, and the account was under review for 2 weeks. Finally called and was told that I needed to upload a picture of myself holding my ID. And that the scanned ID was not good enough, I needed an actual picture taken. The way I see it, I paid 15 bucks and found out the type of bank this is. Will not be doing any sort of business with them.
Getting Worse
Understand, this credit union is nothing but silos. One department can't reach the next, or communicate in real time to resolve issues.
The interest they're paying on Rewards Checking/Saving with the minimums and requirements is barely average given the Fed's rate hikes and others rate increases.. An ACH out took 9 business days, another ACH in, when paying their VISA, took 7 business days to credit. Getting my vehicle title after paying off loan was a hassle, and you guessed it, it's never CCU's fault...Used to offer promotions and now rarely gives any reason to use them...
Just a disappointing financial intituion, racing to the bottom, and getting worse
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68588 |
| Year Chartered | 1930 |
| Employees | 484 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.28% |
| Return on Equity - YTD | 3.94% |
| Annual Interest Income | $102.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $3.52B$3.32B |
| Loans | Q2 2024vs Q2 2023 | $2.48B$2.41B |
| Deposits | Q2 2024vs Q2 2023 | $2.82B$2.68B |
| Equity Capital | Q2 2024vs Q2 2023 | $252.4MM$219.7MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $32.6MM$14.9MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $29.1MM$25.7MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
