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This limited-time offer may be withdrawn without notice.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 DepositAccounts.com, 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 DepositAccounts.com that require a similar minimum deposit and are available nationwide, Great Lakes Credit Union's 33-month Special Share Certificate APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.33% APY||33-Month Special Share Certificate||Great Lakes Credit Union|
|3.25% APY||36-Month CD Special||USALLIANCE Financial|
|3.15% APY||41-Month Bump-Up CD Special||Veridian Credit Union|
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.