Great Lakes Credit Union

Popular Accounts at this Credit Union

3.33%3-year CD33 Month CD Special - New Money Only
3.00%Reward CheckingFREE Checking - qualifying rate
1.95%5-year CD5 Year Share Certificate

Overview / Commentary
2111 Waukegan Rd
Bannockburn, IL 60015

Great Lakes Credit Union is headquartered in Bannockburn and is the 11th largest credit union in the state of Illinois. It is also the 370th largest credit union in the nation. It was established in 1938 and as of June of 2018, it had grown to 200 employees and 82,319 members at 14 locations. Great Lakes Credit Union's CD rates are 28% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Great Lakes Credit Union is open to anyone by choosing the "Not Listed-Let us help!" option in the online application. Membership is also open to the following groups: (1) those who live or work in the Illinois counties of Cook (west of Route 83), Dupage, Kane, Kendal, Lake, McHenry, Will, and Kenosha County, Wisconsin, (2) Federal government employees, including active and retired military members, (3) employees of Select Employer Groups. Membership requirements are listed in the credit union's online application.
See current membership details

Related Posts

Great Lakes Credit Union Adds Nationally Available 33-Month CD, 3.33% APY - 9/7/2018

Great Lakes Credit Union (easy membership) has added a 33-month Special CD, which earns 3.33% APY. Minimum deposit is $1k of new money, and is capped at $250k.

Increasing # Of Debits But No Rate Change - 3/1/2018

Got an email today that GLCU is increasing the # of debits as well as dollar spend to earn the 3% but everything else remains the same. Previously, 10 debits totaling $100 or more was required in addition to the $500 direct deposit and one bill pay/mobile login requirement. Effective April 1, the new requirements are: $500 direct deposit 15 signature-based (up from 10) (no PIN) debit card purchases totaling $150 or more eStatements Pay one bill per month via bill pay* or login to mobile banking once per month*

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Smooth And Quick Process To Open An Account

Posted by: 767 | May 13, 2013

Have been very satisfied with the quick and easy application process. New account information, debit card and even blank checks were received in a timely manner. Even received a personal thank you card for opening the account. Easy to set up ACH transfers. Status of interest requirements is clearly displayed after logging in. Just hope they keep the rate up.

GLCU gets the job done

Posted by: Firescanda | Sep 7, 2017

I had an account with GLCU for about six years. They were previously tied to my high school so I joined as a senior in high school. It was my first checking account, debit card and credit card experience. They had a branch inside my high school which made it convenient. They were always friendly when I came into the branch. They were willing to help and answer my questions. They did not charge high fees. My only problem with their customer service was that they closed early most days. When I got to be an adult that didn't live in the immediate area I had a hard time if I need to get business done inside the bank because I couldn't make it there during their business hours. However they helped me over the phone if I have any questions related to my account. I used direct deposit into my checking account and had direct bill pay for a loan. I never had an issue with either of these services. I would recommend them to anyone that needs a checking account.

Rates & Requirements Changing

Posted by: rquiring | Sep 30, 2013

I just visited GLCU today in order to open a third account. In attempting to do so, I learned that the interest rate is dropping to 3% Oct. 1, 2013 and also that in order to be eligible for the 3% interest each month - one must spend at least $100 per account. I had a good experience with GLCU, but with this change I have already opened a different account somewhere else. Hope this helps others.

Avoid This Credit Union

Posted by: McGail Ann | Sep 7, 2017

I was unable to make any of my loan payments online because of archaic system. When you call in you literally have to answer around 10 questions before you can make a payment. I paid off my car loan in June and am still waiting for the title that they supposedly mailed. Worst experience ever.



Health Grade Components

NCUA #60238
Year Chartered1938
Primary Regulator
Profit Margin
Return on Assets - YTD0.12%
Return on Equity - YTD1.37%
Annual Interest Income$14.9MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$819.8MM$800.3MM
LoansQ2 2018vs Q2 2017$616.0MM$603.3MM
DepositsQ2 2018vs Q2 2017$665.9MM$659.9MM
Equity CapitalQ2 2018vs Q2 2017$72.2MM$71.7MM
Loan Loss AllowanceQ2 2018vs Q2 2017$6.8MM$6.2MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$6.3MM$6.8MM
Real Estate OwnedQ2 2018vs Q2 2017$303.00K$595.00K
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Always verify rates and promotions with the bank or credit union. We are not Great Lakes Credit Union; 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.

Great Lakes Credit Union Savings Account Rates

2.00%*$100*$2kHealth Savings Account
OTHER TIERS: 1.00% $2k+
1.00%*$5$1kSanta Saver
OTHER TIERS: 0.20% $1k+
0.20%$100-Share Savings
0.20%$1k-Business Savings
0.20%$100-IRA Share Savings
0.20%$5-Kirby Kids Savings
0.20%$5-Young Adult Savings Account

Great Lakes Credit Union Money Market Rates

0.50%*$50k*-Money Market
OTHER TIERS: 0.30% $2.5k - $25k | 0.40% $25k - $50k
0.50%*$50k*-Business Money Market
OTHER TIERS: 0.30% $2.5k - $25k | 0.40% $25k - $50k
0.50%*$50k*-IRA Money Market
OTHER TIERS: 0.30% $2.5k - $25k | 0.40% $25k - $50k

Great Lakes Credit Union Checking Account Rates

3.00%*-$10kFREE Checking - qualifying rate
OTHER TIERS: 0.20% $10k+
3.00%*-$10kYoung Adult FREE Checking - qualifying rate
OTHER TIERS: 0.20% $10k+

Great Lakes Credit Union CD Rates

3.33%$1k$250k33 Month CD Special - New Money Only
2.05%$1k-5 Year President's Club Share Certificate
1.95%$1k-5 Year Share Certificate
1.70%$1k-4 Year President's Club Share Certificate
1.60%$1k-4 Year Share Certificate
1.40%$1k-3 Year President's Club Share Certificate
1.30%$1k-3 Year Share Certificate
1.30%$1k-2 Year President's Club Share Certificate
1.25%$1k-1 Year President's Club Share Certificate
1.20%$1k-2 Year Share Certificate
1.15%$200-1 Year Right Start Share Certificate
1.15%$1k-1 Year Share Certificate

Great Lakes Credit Union IRA Rates

1.95%$1k-5 Year IRA Certificate
1.60%$1k-4 Year IRA Certificate
1.30%$1k-3 Year IRA Certificate
1.20%$1k-2 Year IRA Certificate
1.15%$1k-1 Year IRA Certificate


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