Great Lakes Credit Union Adds Nationally Available 33-Month CD


Deal Summary: 33-month Special Share Certificate, 3.33% APY, $1k min/$250k max deposit, new money.

Availability: Easy membership requirement

Illinois-based Great Lakes Credit Union (GLCU) is currently offering a 33-month Special Share Certificate, which earns 3.33% APY. The minimum deposit is $1k of new money, and the maximum is $250k.

This limited-time offer may be withdrawn without notice. GLCU’s President’s Club bonus rates do not apply to the 33-month Special Share Certificate.

As stated in the Fee Schedule, the Early Withdrawal Penalty reads as follows:

Terms of 1 through 5 years – 182-day loss of dividend for early withdrawal

This is just an observation that has no relevance to the 33-month Special Share Certificate. The last time I wrote about GLCU was in March 2017, at which time, GLCU had the second highest APY for a nationally available 18-month CD – 1.50% APY. That's almost hard to believe.


Headquartered in North Chicago, Great Lakes Credit Union’s field of membership (FOM) provides a way for almost any US citizen or alien resident a way to join.

Easy Membership: The very last answer to the online application question, "Which best describes your affiliation with GLCU?" is "Not listed – let us help." By selecting that answer, you qualify for membership in GLCU.

Residency: Anyone who lives or works in the Illinois counties of Cook (west of Route 83), Dupage, Kane, Kendall, Lake, McHenry, and Will, as well as in Kenosha County, Wisconsin, is eligible to join.

Employment: Federal government employees, including active and retired military members, and employees of the Tinley Forest School Districts 113, 142, 145, 146, and 160, qualify for membership.

Affiliation: Members of Teamster Local 705 and the NIBA are also eligible.

Relationship: Relatives of any membership-eligible individuals also qualify.

Joining GLCU and/or opening a Special Share Certificate can be done online or at any of 14 Illinois branches located in Antioch, Bolingbrook, Chicago, Country Club Hills, Crystal Lake, Gurnee, Naperville, North Chicago, Oak Lawn, Round Lake Beach, Waukegan, Willow Springs, Woodstock, and Zion.

GLCU is a member of the Co-Op Shared Branch organization, which gives GLCU members access to over 5,000 Credit Union Service Centers across the country.

Through this convenient network, you can perform many of your financial transactions and obtain services at other credit unions and service center locations belonging to the network.

Shared branching can make it easy to deposit money to fund new accounts, like Share Certificates. Simply make a deposit into the savings account at a local shared branch and then ask to fund the new Share Certificate from the savings account.

Credit Union Overview

Great Lakes Credit Union has an overall health grade of "B+" at, with a Texas Ratio of 9.81% (excellent) based on March 31, 2018 data. In the past year, GLCU has increased its total non-brokered deposits by $7.12 million, an above average annual growth rate of 1.07%. Please refer to our financial overview of Great Lakes Credit Union (NCUA Charter # 60238) for more details.

Organized in 1938, Great Lakes Credit Union was established for the benefit of the members of Local 167 of the National Federation of Federal Employees. At that time, there was no local financial institution and civil servants were paid in cash. Every payday, GLCU’s Treasurer would set up a desk at the end of the Disbursing Officer’s pay line, collecting deposits and loan payments from members, which in turn were placed in a tin cash box. Eighty years later, through expansion, charter changes, and mergers, GLCU has more than 81,600 members and assets in excess of $820 million.

How the Special Share Certificate Compares

When compared to the 214 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationwide, Great Lakes Credit Union's 33-month Special Share Certificate APY currently ranks first.

The above rates are accurate as of 9/7/2018.

To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Chicago CD rates, 5-year CD rates, nationwide deals

RJM   |     |   Comment #1
Decent rate. But I am flat out of money after Keesler & Nasa. Until Jan anyway.

Hopefully, rates will be higher at that time for some medium or long term CDs.

To me, medium is 2-3 years and long term is 5 years. I probably would not consider a longer than 5 year CD. I did a couple of small ones at Penfed, 10 years at 5% and 7 at 2.5% but as I get older, I am just less willing to do that. I might not be around in 10 years. Although I hope I am.
Heart disease runs in my family but so far I have avoided it. I'm guessing not smoking helps in that regard.
#2 - This comment has been removed for violating our comment policy.
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deplorable 1
deplorable 1   |     |   Comment #6
I for one hope you are around for a long time RJM! Remember you are never too old to eat right and exercise. Take a vacation and spend a bit while you are still healthy enough to enjoy it. Many of these folks don't seem to understand that if you are used to being a saver all your life it is very difficult to all of the sudden become a frivolous spender. I get it.
#7 - This comment has been removed for violating our comment policy.
highrate   |     |   Comment #8
it is hard to become a spender, as you say. But I have loosened up the pursestrings now YOu cant take it with you
RJM   |     |   Comment #13
Yeah, you simply cannot turn off watching every penny and spending lavishly.

Very good point about a vacation. I really don't take them. I guess because I consider my life a vacation since I retired early.
aaa   |     |   Comment #21
I'm also going going in with truckload ... maybe space-shuttle-load ... into Nasa ...

Last time this sort of thing happened was when SharonView happened ...
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Kay   |     |   Comment #35
Does anyone know if new member gets a hard inquiry on their credit? Thanks!
Ann   |     |   Comment #36
Assume you will. Most credit unions do that.
111   |     |   Comment #38
This source says yes, TransUnion, but as usual YMMV -
Kay   |     |   Comment #42
Thanks everyone for the reply. I thought most just pull chexsystem.
Great Lakes Credit Union Has Limited Time 18-Month CD Special

Deal Summary: 18-month Share Certificate Special, 1.50% APY, $1k min, available through March 31, 2017.

Availability: Easy membership requirement

Now through March 31, 2017, Illinois-based Great Lakes Credit Union (GLCU) is offering a 18-month Share Certificate Special (1.50% APY).The minimum deposit is $1k, with no stated balance cap.

GLCU’s President’s Club bonus rates do not apply to the 18-month Share Certificate Special.

According to CSR, the Early Withdrawal Penalty is 182 days of interest.


Headquartered in North Chicago, Great Lakes Credit Union offers membership...

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Great Lakes CU (Easy Membership) Has 15-Month CD Special
Availability: Easy membership

Illinois-based Great Lakes Credit Union’s (GLCU) contribution to the various holiday specials being offered this month is a limited-time 15-month Share Certificate (1.50% APY) .

The minimum deposit is $1K of new money and there is no balance cap. (GLCU’s President’s Club bonus rates do not apply to the 15-month Share Certificate.)

Many thanks to DA reader, marcal, who posted this deal in the Forum.


Headquartered in North Chicago, Great Lakes Credit Union offers membership through a variety of methods.

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Update on Great Lakes Credit Union's Reward Checking Account

I first reviewed Great Lakes Credit Union (GLCU) and its reward checking account (called Ultimate Checking) in 2011. The rate has remained the same, but the balance cap has gone down. Nevertheless, it remains a competitive reward checking account. When I first reported on this credit union, it appeared to be mostly a local deal for those in parts of Illinois and Wisconsin. There now appears to be a way for anyone to qualify for membership. Before I review the membership eligibility, below is a summary of the rates and...

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Reward Checking with a Twist at Great Lakes Credit Union in IL - Local Only

Great Lakes Credit Union has an interesting high-yield reward checking account called Ultimate Checking. It offers a nice rate, but unlike the vast majority of reward checking accounts, there's a potential monthly fee. If certain monthly requirements are met, the account has the following rates and features (as of 11/02/2011):

  • 4.00% APY up to $15,000
  • 0.05% for over $15,000 (standard savings dividend rate)
  • Up to $5 ATM rebate per month
  • Free overdraft transfers
  • No monthly fee or minimum balance requirement

The monthly requirements include:

  • 10 signature-based debit card purchases
  • $250 Direct Deposit
  • eStatements
  • Mobile banking or bill pay
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4.00% 4-Month CD at Great Lakes Credit Union in IL & WI
Great Lakes Credit Union is offering a special 4-month certificate with a 4.00% APY. There is no minimum or maximum deposit. The promotion is listed on the credit union's home page as of 12/19/08. According to the promotion page, this CD is scheduled to last through 12/31/08.

Membership is open to those who live or work in Lake or McHenry Counties of Illinois or Kenosha County of Wisconsin. You can also be eligible if you're a current or retired federal government employee. Please refer to the credit union's Membership Page for...

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