Consumers Credit Union (IL)

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

Consumers Credit Union (IL) is headquartered in Gurnee and is the 5th largest credit union in the state of Illinois. It is also the 129th largest credit union in the nation. It was established in 1930 and as of December of 2021, it had grown to 469 employees and 191,063 members at 18 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 Adds Three Competitive 16-Month CDs - 12/6/2021

Consumers Credit Union (easy membership) has added competitive 16-month Super Jumbo CD ($250k), 16-month Jumbo CD ($100k), and 16-month CD ($250).

Consumers Credit Union Offers Excellent Rate On Smart Saver Account - 8/20/2021

Consumers Credit Union (easy membership) is currently offering an excellent rate on its Smart Savings account. Monthly deposits and checking relationship required.

View all posts from:

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
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)

Still Going Strong, I'm Upgrading My Rating.

Posted by: |

Since they removed a $ minimum for debit transactions, I'm upgrading my rating. The only downside to CCU is the low maximum of $10,000, other than that I've been very satisfied and I like their interface a lot.

My Review On Consumers Credit Union

Posted by: |

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.

New Requirements 10/01/2018 Factors For Me.

Posted by: |

Moving my money. Going with 4.07% up to $15,000, 12 charges no minimum.
Simple and I come out ahead.
I used $10,000 for my comparison.
CCU 5.09% NET is $365 - INCOME TAX on $509
CCU 4.09% NET is $325 - INCOME TAX on $409
CCU 3.09% NET is $285 - INCOME TAX on $309
OTHER 3.00% NET is $300 - INC TAX on $300
OTHER 4.07% NET is $407 - INC TAX on $407
I make and lose 1% between the 1% CCU and my Citi 2% credit card so I lose (1%) $120/yr on 5.09% account or $60/yr on 4.09% account. Lose (2%) $24/yr on the $1,200/yr purchase requirement.
I will keep CCU active in case they give a better deal in the future.

(Member For 2 Years) HORRIBLE

Posted by: |

I have to give one star to review (but wouldn't). I obtained 2 loans via CCU. One for a boat and trailer (a fairly expensive venture) and the other for a Chrysler Pacifica after a lease buyout. I have had nothing but issues, multiple calls over the last 2 years for a variety of issues. I sold the boat/trailer earlier this year and with pay-off they could not produce the titles for the new owner's bank. We spent months trying to resolve it with his bank finally sorting it out and re-ordering the titles (his bank was the one whom ended up assisting-NOT CCU). After selling the boat we moved to ND and registered our Pacifica but could not receive plates as CCU would not respond to the ND DOT verification. We waited and waited and nothing, had to get a second temporary plate and I called CCU a few times to ask for their assistance. Finally, I decided to just pay the vehicle off and stop doing any banking with CCU. It has been 4 weeks since pay off and I receive a letter that they do not have the title in their possession (although they clearly put themselves as lien holders on it previously). The letter removed their claim to the vehicle. ND DOT does not consider this as the correct form for registration and will only accept a physical title. I am now without a vehicle in 1 week because CCU has lost another title (3 now in total). I call in and ask for help and they say they will call me back but never do. I have no idea how to replace this title they have lost and it should be their responsibility as lien holders. I moved all of the funds from my accounts there today and will be closing them all once the transfer is complete. The call line just fills you full of fluff and promises someone will call you back in 24-48 but that never occurs (so don't fall for it). DO NOT USE THEM! BEWARE!I



Health Grade Components

NCUA #68588
Year Chartered1930
Primary Regulator
Profit Margin
Return on Assets - YTD0.63%
Return on Equity - YTD7.39%
Annual Interest Income$90.9MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$2.95B$2.62B
LoansQ4 2021vs Q4 2020$1.74B$1.64B
DepositsQ4 2021vs Q4 2020$2.55B$2.23B
Equity CapitalQ4 2021vs Q4 2020$247.6MM$223.6MM
Loan Loss AllowanceQ4 2021vs Q4 2020$10.5MM$9.1MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$12.9MM$10.8MM
Real Estate OwnedQ4 2021vs Q4 2020$250.00K$0
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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

1.50%$50-Smart Saver w/ Checking
0.25%--IRA Savings
0.25%--Holiday Club
0.25%--Smart Saver w/o Checking
0.05%-$5kSpecial Share Savings
0.05%$5-Business Membership Savings
0.05%-$25kHealth Savings Account
0.03%--Membership Share Savings

Consumers Credit Union (IL) Money Market Rates

0.75%*$100k*-Business Money Market
OTHER TIERS: 0.15% $500 - $25k | 0.25% $25k - $100k
0.25%*$100k*-Money Market
OTHER TIERS: 0.05% Up to $25k | 0.15% $25k - $100k
0.25%*$100k*-IRA Money Market
OTHER TIERS: 0.05% Up to $25k | 0.15% $25k - $100k

Consumers Credit Union (IL) Checking Account Rates

4.09%*-$10kRewards Checking - Tier A
OTHER TIERS: 0.10% $25k+ | 0.20% $10k - $25k
3.09%*-$10kRewards Checking - Tier B
OTHER TIERS: 0.10% $25k+ | 0.20% $10k - $25k
2.09%*-$10kRewards Checking - Tier C
OTHER TIERS: 0.10% $25k+ | 0.20% $10k - $25k
0.05%--Power Business Checking
0.05%$500-Community Checking

Consumers Credit Union (IL) CD Rates

1.90%$250k-22 Month Super-Jumbo CD
1.90%$250k-Business 22 Month Super-Jumbo CD
1.80%$100k-22 Month Jumbo CD
1.80%$100k-Business 22 Month Jumbo CD
1.70%$250-22 Month CD
1.70%$250$100kBusiness 22 Month CD
1.35%$250k-11 Month Super-Jumbo CD
1.35%$250k-Business 11 Month Super-Jumbo CD
1.25%$100k-11 Month Jumbo CD
1.25%$100k-Business 11 Month Jumbo CD
1.15%$250$100k11 Month CD
1.15%$250$100kBusiness 11 Month CD
0.90%$250k-5 Year Super-Jumbo CD
0.90%$250k-Business 5 Year Super-Jumbo CD
0.85%$250k-4 Year Super-Jumbo CD
0.85%$250k-Business 4 Year Super-Jumbo CD
0.80%$100k-5 Year Jumbo CD
0.80%$250k-3 Year Super-Jumbo CD
0.80%$250k-Business 3 Year Super-Jumbo CD
0.80%$100k-Business 5 Year Jumbo CD
0.75%$100k-4 Year Jumbo CD
0.75%$250k-30 Month Super-Jumbo CD
0.75%$250k-Business 30 Month Super-Jumbo CD
0.75%$100k-Business 4 Year Jumbo CD
0.70%$250$100k5 Year CD
0.70%$100k-3 Year Jumbo CD
0.70%$250k-2 Year Super-Jumbo CD
0.70%$250k-Business 2 Year Super-Jumbo CD
0.70%$100k-Business 3 Year Jumbo CD
0.70%$250$100kBusiness 5 Year CD
0.65%$250$100k4 Year CD
0.65%$100k-30 Month Jumbo CD
0.65%$250k-1 Year Super-Jumbo CD
0.65%$250k-18 Month Super-Jumbo CD
0.65%$250k-Business 1 Year Super-Jumbo CD
0.65%$250k-Business 18 Month Super-Jumbo CD
0.65%$100k-Business 30 Month Jumbo CD
0.65%$250$100kBusiness 4 Year CD
0.60%$250$100k3 Year CD
0.60%$100k-2 Year Jumbo CD
0.60%$100k-Business 2 Year Jumbo CD
0.60%$250$100kBusiness 3 Year CD
0.55%$250$100k30 Month CD
0.55%$100k-1 Year Jumbo CD
0.55%$100k-18 Month Jumbo CD
0.55%$100k-Business 1 Year Jumbo CD
0.55%$100k-Business 18 Month Jumbo CD
0.55%$250$100kBusiness 30 Month CD
0.50%$250$100k2 Year CD
0.50%$250$100kBusiness 2 Year CD
0.45%$250$100k18 Month CD
0.45%$250$100k1 Year CD
0.45%$250$100kBusiness 1 Year CD
0.45%$250$100kBusiness 18 Month CD
0.40%$250$100k6 Month CD
0.40%$100k-6 Month Jumbo CD
0.40%$250$100kBusiness 6 Month CD
0.40%$100k-Business 6 Month Jumbo CD
0.35%$250$100k91 Day CD
0.35%$100k-91 Day Jumbo CD
0.35%$250$100kBusiness 91 Day CD
0.35%$100k-Business 91 Day Jumbo CD

Consumers Credit Union (IL) IRA Rates

1.90%$250k-22 Month Super-Jumbo IRA
1.80%$100k-22 Month Jumbo IRA
1.70%$250-22 Month IRA
1.35%$250k-11 Month Super-Jumbo IRA
1.25%$100k-11 Month Jumbo IRA
1.15%$250-11 Month IRA
0.90%$250k-5 Year Super-Jumbo IRA
0.85%$250k-4 Year Super-Jumbo IRA
0.80%$100k-5 Year Jumbo IRA
0.80%$250k-3 Year Super-Jumbo IRA
0.75%$100k-4 Year Jumbo IRA
0.75%$250k-30 Month Super-Jumbo IRA
0.70%$100k-3 Year Jumbo IRA
0.70%$250$100k5 Year IRA
0.70%$250k-2 Year Super-Jumbo IRA
0.65%$100k-30 Month Jumbo IRA
0.65%$250$100k4 Year IRA
0.65%$250k-1 Year Super-Jumbo IRA
0.65%$250k-18 Month Super-Jumbo IRA
0.60%$100k-2 Year Jumbo IRA
0.60%$250$100k3 Year IRA
0.55%$100k-1 Year Jumbo IRA
0.55%$100k-18 Month Jumbo IRA
0.55%$250$100k30 Month IRA
0.50%$250$100k2 Year IRA
0.45%$250$100k1 Year IRA
0.45%$250$100k18 Month IRA
0.40%$250$100k6 Month IRA
0.40%$100k-6 Month Jumbo IRA
0.35%$250$100k91 Day IRA
0.35%$100k-91 Day Jumbo IRA


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