Deal Summary: 18-month Share Certificate Special, 1.50% APY, $1k min, available through March 31, 2017.
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 through a variety of methods.
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, Kendal, Lake, McHenry, Will, and Kenosha County, Wisconsin, is eligible.
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 the above mentioned groups also qualify.
Joining GLCU and/or opening a 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 11.47% (excellent) based on September 30, 2016 data. In the past year, GLCU has increased its total non-brokered deposits by $39.21 million, an excellent annual growth rate of 6.59%. 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. Nearly 80 years later, through expansion, charter changes, and mergers, GLCU has more than 82,400 members and assets in excess of $757 million.
How the Share Certificate Special Compares
When compared to the 140 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Great Lakes Credit Union's 18-month Share Certificate Special currently ranks second.
The above rates are accurate as of 3/8/2017.