Featured Savings Rates
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Great Lakes Credit Union

Popular Accounts at this Credit Union

3.00%Reward CheckingUltimate Checking
1.50%5-year CD5 Year Share Certificate
0.45%1-year CD1 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 356th largest credit union in the nation. It was established in 1938 and as of March of 2017, it had grown to 216 employees and 84,238 members at 14 locations. Great Lakes Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership in Great Lakes Credit Union is open to anyone through 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 Has Limited Time 18-Month CD Special - 3/8/2017

Now through March 31, 2017, Great Lakes CU (easy membership) is offering an 18-month Share Certificate Special (1.50% APY). Minimum deposit is $1k, with no balance cap.

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Reviews (7)

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.

Easy CU To Get Along With

Posted by: codebank | Jul 12, 2013

I am (very far) out of state - but this CU has the best rewards rate, so I gave it a try.

Everything went well. Setup was quick and easy, customer service seems good. Handy meter at log-in tells you how close to meeting your monthly reward requirements you are. Free checks.

You can have up to 3 reward checking accounts - which makes it a pretty good deal at this interest rate, as long as you can meet the monthly transaction requirements.

Online system is a little buggy - takes me to change my password almost everytime I sign in...hoping they will fix that soon. 

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.

Fees Galore

Posted by: schris4 | Sep 28, 2014

Avoid this bank. They tell you there are no ATM Fees, but you will still get charged. They do not have courtesy refunds.

Very Disappointed

My previous credit union which I was with for over 20 years was taken over by Great Lakes Credit Union a year ago. From the very beginning I was given false information regarding logging into the online banking, password setup and money market checks that I was told 50 checks would be free and they were not. For being such a huge credit union I found that their fees are outrageous. Other credit unions fees are far less and are more personable to the customer than Great Lakes Credit Union. You can not call the branch location. I didn't have much of a choice when they took over and gave them almost a year when I closed all 3 of my accounts. If you like a big bank feel with all the fees then this the place.

Be Aware Of A Lot Of Fees

Posted by: kkccoo | Nov 22, 2013

This bank imposed a lot of fees on rewards checking account, $5 per month if not meeting the requirement. $25 for closing fee if closed less than 100 days. I never saw this kind of ridiculous fees on reward checking.

Closed two accounts today anyway to get a peace of mind.

Took Over Month To Get Set Up Because There System Sucks.

These guys have crappy customer service, worse than Wells Fargo if you can believe that, IF you can even get through the 1990's era phone tree that is. You will get stuck in endless loops of hold music followed by people hanging up on you. Do not be lured by the 4%. It wont last, it will end as soon as they meet some deposit quota I am sure. I seems most of the people you get connected to have no clue about whats up.

Run.....run away while you still can.


Health Grade Components

NCUA #60238
Year Chartered1938
Primary Regulator
Profit Margin
Return on Assets - YTD0.1%
Return on Equity - YTD1.09%
Annual Interest Income$6.9MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$789.9MM$739.3MM
LoansQ1 2017vs Q1 2016$593.9MM$517.2MM
DepositsQ1 2017vs Q1 2016$663.0MM$640.6MM
Equity CapitalQ1 2017vs Q1 2016$71.2MM$70.1MM
Loan Loss AllowanceQ1 2017vs Q1 2016$6.3MM$6.4MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$7.1MM$7.3MM
Real Estate OwnedQ1 2017vs Q1 2016$353.00K$960.00K
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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

0.10%$100-Share Savings
0.10%$1k-Business Savings
0.10%$100-Health Savings Account
0.10%$100-IRA Share Savings
0.10%$100-Roth IRA Share Savings
0.10%$100-CESA Share Savings
0.10%--Santa Savings
0.10%--Kirby Kids Savings
0.10%--Young Adult Accounts

Great Lakes Credit Union Money Market Rates

0.35%*$50k*-Money Market
OTHER TIERS: 0.15% $2,500 - $25k | 0.25% $25k - $50k
0.35%*$50k*-Business Money Market
OTHER TIERS: 0.15% $2,500 - $25k | 0.25% $25k - $50k
0.35%*$50k*-IRA Money Market
OTHER TIERS: 0.15% $2,500 - $25k | 0.25% $25k - $50k
0.35%*$50k*-Roth IRA Money Market
OTHER TIERS: 0.15% $2,500 - $25k | 0.25% $25k - $50k
0.35%*$50k*-CESA Money Market
OTHER TIERS: 0.15% $2,500 - $25k | 0.25% $25k - $50k

Great Lakes Credit Union Checking Account Rates

3.00%*-$10kUltimate Checking - Qualifying
OTHER TIERS: 0.10% $10k+

Great Lakes Credit Union CD Rates

1.60%$1k-5 Year President's Club Share Certificate
1.50%$1k-5 Year Share Certificate
0.80%$1k-3 Year President's Club Share Certificate
0.70%$1k-3 Year Share Certificate
0.70%$1k-2 Year President's Club Share Certificate
0.60%$1k-2 Year Share Certificate
0.55%$1k-1 Year President's Club Share Certificate
0.45%$200-Right Start Share Certificate
0.45%$1k-1 Year Share Certificate

Great Lakes Credit Union IRA Rates

1.50%$1k-5 Year IRA Certificate
0.70%$1k-3 Year IRA Certificate
0.60%$1k-2 Year IRA Certificate
0.45%$1k-1 Year IRA Certificate

Great Lakes Credit Union has 14 locations. Click to view all Great Lakes Credit Union locations.