Encurage Financial Network

Encurage Financial Network

Overview / Commentary
2942 W Peterson Ave
Chicago, IL 60659

Encurage Financial Network is headquartered in Chicago and is the 41st largest credit union in the state of Illinois. It is also the 1,272nd largest credit union in the nation. It was established in 1936 and as of June of 2023, it had grown to 23 employees and 13,440 members at 6 locations. Encurage Financial Network's money market rates are 7X the national average, and it has a C+ health rating.

Field of Membership Restrictions

Membership in Encurage Financial Network is open to those who live or work in Chicagoland (borders are Lake Michigan to the east, highway 294 to the west, Dempster Ave to the north, and Roosevelt Road to the south). Employees of several Select Employee Groups, including Advocate Healthcare, Alcatel-Lucent, and Worker’s Union Local 707 are also eligible to join, as are immediate family members of current Encurage Financial Network members.
See current membership details

Reviews (1)

Restricted To Illinois*******

Posted by: |

The rate looks good at 5% for a cap of $2,500 but I just found out that even if you make a donation it is only for residents of Illinois. This is not a Nationwide Credit Union.


Health Grade Components

NCUA #68450
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD0.12%
Return on Equity - YTD2.16%
Annual Interest Income$5.2MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$197.3MM$142.6MM
LoansQ2 2023vs Q2 2022$169.3MM$104.1MM
DepositsQ2 2023vs Q2 2022$164.7MM$112.1MM
Equity CapitalQ2 2023vs Q2 2022$10.3MM$10.4MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$1.1MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$2.3MM$569.00K
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not Encurage Financial Network; 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.

Encurage Financial Network Savings Account Rates

4.55%*-$25kKasasa Saver
OTHER TIERS: 0.45% $25k+
1.70%--Special Savings
1.50%--Christmas Club Account
0.35%*$25k*-Regular Shares
OTHER TIERS: 0.20% Up to $5k | 0.25% $5k - $25k

Encurage Financial Network Money Market Rates

3.05%*$100k*-Money Market Account
OTHER TIERS: 2.35% $2.5k - $25k | 2.55% $25k - $50k | 2.75% $50k - $100k

Encurage Financial Network Checking Account Rates

6.05%*-$15kKasasa Cash Checking
OTHER TIERS: 0.25% $15k+
3.00%*-$10kFirst Secure Checking
OTHER TIERS: 0.10% $10k+
0.10%--Everyday Checking

Encurage Financial Network CD Rates

5.05%$1k-48 Month Certificate
4.75%$1k-36 Month Certificate
4.25%$1k-24 Month Certificate
4.05%$1k-18 Month Certificate
3.95%$1k-12 Month Certificate
3.95%$25-12 Month Save to Win CD

Encurage Financial Network IRA Rates

5.05%$1k-48 Month IRA Certificate
4.75%$1k-36 Month IRA Certificate
4.25%$1k-24 Month IRA Certificate
4.05%$1k-18 Month IRA Certificate
3.95%$1k-12 Month IRA Certificate

Encurage Financial Network Locations
Branch Office6601 N RIDGE BLVD BLDG 1CHICAGO, IL 60626
Branch Office2942 W PETERSON AVECHICAGO, IL 60659
Branch Office5550 TOUHY AVE STE 102SKOKIE, IL 60077
Branch Office6149 N Wolcott AveChicago, IL 60660
Branch Office5401 Saint Charles RdBerkeley, IL 60163
Corporate Office8430 W Bryn Mawr Ave Suite 500Chicago, IL 60631

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