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Overview / Commentary
800-982-7850
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 358th largest credit union in the nation. It was established in 1938 and as of September of 2016, it had grown to 219 employees and 82,467 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.
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Reviews (8)

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.

Bank Service Sucks

Posted by: da1234 | Aug 16, 2013

I have account with Greate Lakes for several months now, my experience is:

this is the worst bank of I've had, giving me a lot of troubles.

 I'm going to close this account whenever possible.

for those seeks high rate, pelican state credit union has 4.1% for kasasa checking now.



Health
B+

Health Grade Components

Overall
NCUA #60238
Year Chartered1938
Employees219
Primary Regulator
Profit Margin
Return on Assets - YTD0.21%
Return on Equity - YTD2.25%
Annual Interest Income$19.5MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$757.1MM$690.3MM
LoansQ3 2016vs Q3 2015$573.8MM$483.1MM
DepositsQ3 2016vs Q3 2015$634.3MM$595.0MM
Equity CapitalQ3 2016vs Q3 2015$70.8MM$69.1MM
Loan Loss AllowanceQ3 2016vs Q3 2015$6.7MM$6.5MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$8.3MM$6.1MM
Real Estate OwnedQ3 2016vs Q3 2015$583.00K$804.00K
Rates

Rates for Great Lakes Credit Union are currently being reviewed.

Locations

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