Featured Savings Rates
Featured Accounts

Great Lakes Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
3.00%Reward CheckingUltimate Checking
1.45%5-year CD5 Year Share Certificate
0.25%1-year CDRight Start Share Certificate

Overview / Commentary
800-982-7850
2525 Green Bay Rd
North Chicago, IL 60064

Great Lakes Credit Union (GLCU) is an Illinois-based credit union committed to serving the Chicago and Milwaukee areas with savings and loan products and services. Its products are also available to nationwide account holders when certain criteria are met (see this post from the Deposit Accounts blog). The credit union also provides educational resources designed to help members and potential members to navigate the banking waters.

GLCU’s personal banking products include checking, savings, money market, share certificate, and IRA accounts. One of the credit union’s checking accounts gives consumers with past checking account mistakes another chance by giving them access to an account by completing a course on account management. Another checking account offering is the credit union’s reward checking account, which has been featured on DepositAccounts several times in the past. This checking account has typically offered one of the highest rates in the nation. Savings accounts are also available and come in the form of basic savings, health savings, and youth savings. There are two youth savings accounts designed for different aged children, teenagers, and students. Money market accounts offer variable rates of interest based on account balances – the higher the balance, the higher the interest. MMAs have a minimum account balance. Share certificates are available in term lengths from 1 to 5 years.

Great Lakes Credit Union online banking provides a dynamic platform for users to manage their personal accounts by performing tasks such as bill pay, external account transfers, web chat, and loan payments. The credit union also offers mobile apps that are designed to make banking via smartphone convenient and easy. GLCU is a member of the CO-OP network of ATMs, providing members with access to many fee-free terminals.

GLCU was chartered in 1938 after being organized by a local employees’ union president. It is headquartered in North Chicago, Illinois and serves its members through multiple branches located in the Great Lakes region.

Field of Membership Restrictions

Great Lakes Credit Union of Illinois is open to the residents and the people that maintain employment within these qualified locations of Illinois and Wisconsin: Cook County; west of Route 83, DuPage, Kane, Kendall, Will, Lake, and McHenry along with Club Hills and its neighboring areas in Illinois, and Kenosha in Wisconsin as well as the active military members with any branch, any federal government employee, members of the NBIA and/or the Teamsters Local Union 705, all employees, staff, faculty, administrators, and students of the Tinley Forest School Districts numbers 113, 142, 145, 146, and 160, along with the family members of current credit union members.
See current membership details

Related Posts

Great Lakes CU (Easy Membership) Has 15-Month CD Special - 12/12/2015

Great Lakes CU (easy membership) is offering a limited-time 15-month Share Certificate Special (1.50% APY). Minimum deposit is $1K of new money, with no balance cap.

1.5% 15 Month Share Certificate - 12/9/2015

Share Certificates | Great Lakes Credit Union Special  15-Month Share Certificate offer details: Minimum of $1,000 depositLimited time New money only — transfers from existing GLCU accounts do not qualify for the promotional dividend ratePresidents' Club bonus rates are not applicabS

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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
Employees215
Primary Regulator
Profit Margin
Return on Assets - YTD0.18%
Return on Equity - YTD1.86%
Annual Interest Income$12.7MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$736.1MM$693.6MM
LoansQ2 2016vs Q2 2015$547.5MM$465.6MM
DepositsQ2 2016vs Q2 2015$630.9MM$588.3MM
Equity CapitalQ2 2016vs Q2 2015$70.5MM$66.8MM
Loan Loss AllowanceQ2 2016vs Q2 2015$6.7MM$6.8MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$9.1MM$7.5MM
Real Estate OwnedQ2 2016vs Q2 2015$773.00K$934.00K
Rates
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* 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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 Saver
0.10%--Kirby Kids Savings
0.10%--Young Adult Accounts

Great Lakes Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$50k*-Money Market
OTHER TIERS: 0.10% $2,500 - $25k | 0.20% $25k - $50k
0.30%*$50k*-Business Money Market
OTHER TIERS: 0.10% $2,500 - $25k | 0.20% $25k - $50k
0.30%*$50k*-IRA Money Market
OTHER TIERS: 0.10% $2,500 - $25k | 0.20% $25k - $50k
0.30%*$50k*-Roth IRA Money Market
OTHER TIERS: 0.10% $2,500 - $25k | 0.20% $25k - $50k
0.30%*$50k*-CESA Money Market
OTHER TIERS: 0.10% $2,500 - $25k | 0.20% $25k - $50k

Great Lakes Credit Union Checking Account Rates

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

Great Lakes Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.55%$1k-5 Year President's Club Share Certificate
1.45%$1k-5 Year Share Certificate
0.65%$1k-3 Year President's Club Share Certificate
0.55%$1k-3 Year Share Certificate
0.55%$1k-2 Year President's Club Share Certificate
0.45%$1k-2 Year Share Certificate
0.40%$1k-1 Year President's Club Share Certificate
0.30%$1k-1 Year Share Certificate
0.25%$200-Right Start Share Certificate

Great Lakes Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.45%$1k-5 Year IRA Certificate
0.55%$1k-3 Year IRA Certificate
0.45%$1k-2 Year IRA Certificate
0.30%$1k-1 Year IRA Certificate
Locations

Great Lakes Credit Union has 17 locations. Click to view all Great Lakes Credit Union locations.