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.
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
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.
| Overall | |
|---|---|
| NCUA # | 68450 |
| Year Chartered | 1936 |
| Employees | 23 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.12% |
| Return on Equity - YTD | 2.16% |
| Annual Interest Income | $5.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $197.3MM$142.6MM |
| Loans | Q2 2023vs Q2 2022 | $169.3MM$104.1MM |
| Deposits | Q2 2023vs Q2 2022 | $164.7MM$112.1MM |
| Equity Capital | Q2 2023vs Q2 2022 | $10.3MM$10.4MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$1.1MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $2.3MM$569.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
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.
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 3.05%* | $100k* | - | Money Market Account | ||
| OTHER TIERS: 2.35% → $2.5k - $25k | 2.55% → $25k - $50k | 2.75% → $50k - $100k | |||||
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 6.05%* | - | $15k | Kasasa Cash Checking | ||
| OTHER TIERS: 0.25% → $15k+ | |||||
| 3.00%* | - | $10k | First Secure Checking | ||
| OTHER TIERS: 0.10% → $10k+ | |||||
| 0.10% | - | - | Everyday Checking | ||
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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 Office | 6601 N RIDGE BLVD BLDG 1 | CHICAGO, IL 60626 |
| Branch Office | 2942 W PETERSON AVE | CHICAGO, IL 60659 |
| Branch Office | 5550 TOUHY AVE STE 102 | SKOKIE, IL 60077 |
| Branch Office | 6149 N Wolcott Ave | Chicago, IL 60660 |
| Branch Office | 5401 Saint Charles Rd | Berkeley, IL 60163 |
| Corporate Office | 8430 W Bryn Mawr Ave Suite 500 | Chicago, IL 60631 |