Consumers Credit Union (MI) Debuts 19-Month CD


Availability: 19-month Grand Opening CD, 3.00% APY, $1k min/$250k max deposit, new money.

Availability: Residents of Michigan’s Lower Peninsula.

Consumers Credit Union (Consumers CU) has a new branch location in Grand Rapids. Chances are there are trick-or-treat goodies being given away at the new office, but the real treat is the 3.00% APY 19-month Grand Opening CD. The minimum deposit is $1k of new money, with a maximum deposit $250k per household.

The penalty for early withdrawal of a CD with a term of 1 year or less is 90 days loss
of interest, and a CD with a term of greater than 1 year is 180 days loss of interest.

Note: this Consumers CU is located in Michigan and should not be confused with the Consumers Credit Union headquartered in Gurnee, Illinois. The Illinois-based Consumers Credit Union is probably more familiar to DA readers, because of its easy membership requirements and its Free Rewards Checking account.


Over two years ago, Consumers Credit Union expanded their field of membership (FOM), which previously only included eleven west Michigan counties. Now U.S. Citizens, 18 years or older with a valid Social Security number, who live, work, worship, or are enrolled in a post-high school educational institution in Michigan’s Lower Peninsula are eligible to join.

Immediate family members of current Consumers CU members, or individuals who live in the same household as current members, also qualify.

Since I last wrote about Consumers CU, an online membership application has been added to the website. Unfortunately, the Grand Opening CD cannot be opened online. The promotion page has its own Contact Me form to start the application process.

Consumers CU also has 17 full-service branches located in Coldwater, Grand Rapids (3), Grandville, Holland (2), Kalamazoo (6), Lawton, Mattawan, Portage (2), and South Haven. And don’t forget about the new Grand Rapids branch (Breton Village).

Consumers CU is a member of the CO-OP Network that gives Credit Union members access to more than 30,000 free ATMs nationwide.

Credit Union Overview

Consumers Credit Union has an overall health grade of "A" at, with a Texas Ratio of 3.07% (excellent) based on June 30, 2018 data. In the past year, Consumers CU increased its total non-brokered deposits by $74.84 million, an excellent growth rate of 10.28%. Please refer to our financial overview of Consumers Credit Union (NCUA Charter # 62172) for more details.

Headquartered in Kalamazoo, Consumers Credit Union is Michigan’s 12th largest credit union, with more 89,200 members $1.04 billion in assets. After five years of planning, CCU opened its new corporate headquarters in early 2018. According to CCU’s Chief Marketing Officer, the 92,000 square foot corporate campus,

brings our non-retail member service professionals together in one building -- operations, lending, IT, marketing, training, member service center, digital service representatives, card services, mortgage operations, executives.

How the Grand Opening CD Special Compares

When compared to 290 similar length-of-term CDs tracked by, requiring a similar minimum deposit and available within the FOM, Consumers Credit Union’s 19-month Grand Opening CD Special APY currently ranks second.

The above rates are accurate as of 10/29/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table.

Related Pages: Grand Rapids CD rates, 1-year CD rates

Consumers CU (MI) Adds One-Time Penalty-Free Withdrawal 21-Month CD
Availability: 21-month Back To Savings CD, 1.75% APY, $1k minimum deposit, $250k maximum deposit, one-time penalty-free withdrawal.

Availability: Residents of Michigan’s Lower Peninsula.

Consumers Credit Union (Consumers CU) has added a promotional 21-month "Back to Savings" CD (1.75% APY). While not exactly a “wow-worthy” rate, the beauty of this CD is its one-time penalty-free withdrawal, available anytime throughout the term. The minimum deposit is $1k, with a balance cap of $250k.

If additional withdrawals are made following the one-time penalty-free withdrawal, they are subject to the...

Continue Reading
Consumers CU (MI) Features "Watch Your Deposits Grow" MMA Special
Availability: Residents of Michigan’s Lower Peninsula.

In June 2015, Michigan’s Consumers Credit Union (Consumers CU) added a promotional "Save with Consumers Money Market" (1.25% APY). While that promotion is no longer available, Consumers CU is now featuring a new Money Market Special: "Watch Your Deposits Grow" (1.25% APY).

The minimum deposit is $2.5k, with a balance cap of $500k. While there is no mention on the Credit Union’s website about new money, a phone call confirmed that, like the previous Money Market Special, the "Watch Your Deposits...

Continue Reading
Consumers Credit Union (MI) Adds Top Rate Money Market Account
Availability: 11 western Michigan counties

Consumers Credit Union (Michigan) has introduced a new promotional "Save with Consumers Money Market" (1.25% APY) account to its product line. A minimum opening deposit of $2.5K is required and there is a maximum balance cap of $250K.

There is a limit of one promotional account per household, and according to the fine print,

Consumers Credit Union has a history of very low rates on Money Market accounts, with its standard Money Market account currently earning only 0.40% APY on balances of $250K+. There...

Continue Reading
Consumers CU (MI) "No Hoops" 19-month CD Special Has Top Rate
Availability: 11 western Michigan counties

March Madness is not far away, but Consumers Credit Union (Michigan) is currently offering a "No Hoops" 19-month CD Special (1.50% APY). The 19-month CD Special requires new money, with a minimum opening deposit of $1K and a balance cap of $250K.

Consumers Credit Union’s website markets the No Hoops 19-month CD Special this way:

This is limited time offer that has a $250K maximum investment per household. According to a very helpful and cheerful CSR, the Early Withdrawal Penalty is 180 days interest....

Continue Reading
Consumers Credit Union's (MI) Top Rate Gift of Savings 19-month CD

Just in time for the holidays, Consumers Credit Union (Michigan) is offering a "Gift of Savings" 19-month CD (1.50% APY). The CD requires new money, with a minimum opening deposit of $1K and a balance cap of $250K. This is limited time offer and has a $250K maximum investment per household.

Consumers Credit Union’s website describes the Gift of Savings 19-month CD this way:


Consumers Credit Union (MI) is a community-chartered credit union serving the residents of Western Michigan. Anyone who lives, works, worships,...

Continue Reading

More Past Offers

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.