4.25% 10-to-13-month CD at Western Springs National Bank
Western Springs National Bank & Trust has the best short-term CD deal I’ve seen in a while: They are offering a return of 4.25% APY for 10-to-13-month CDs. The CDs have a minimum of $10,000, but no other restrictions are mentioned.
Western Springs National Bank has two branches: 4456 Wolf Road in Western Springs and 6575 Joliet Road in Countryside.
(Thanks to Bank Deals Blog.)
4.00% 1-year CD at Great Lakes Credit Union
Great Lakes Credit Union is opening a new branch in Spring Grove, and they have a Grand Opening Special CD: a 1-year CD that returns 4.00% APY. The CD has both a maximum and minimum of $10,000, or you can open a 1-year CD with a max/min of $5000 and earn 3.50% APY. Only one CD can be opened per unique social security number. The rate seems to be available today through July 11th.
Great Lakes Credit Union is a relatively open credit union — it’s open to anyone who lives or works in Lake County or McHenry County in Illinois or Kenosha County in Wisconsin, as well as retired military and reservists. This CD is only available at the new Spring Grove branch — 7777 Winn Road at Route 12.
4.25% 35-month CD at Illinois State Bank
Illinois State Bank has a nice mid-term CD available: a 35-month CD that earns 4.25% APY. They also have a 15-month CD available that’s earning 3.75% APY. These CDs don’t seem to be listed on their website, but according to their recent ad, the rates should be available through July 8th. The CDs have a $5000 minimum, and money must be new to Illinois State Bank.
Most of the 43 branches of Illinois State Bank are in Wisconsin (apparently called North Shore Bank up there), but there are two in Illinois’ McHenry County: one at 1301 Pyott Road in Lake in the Hills, and one at 1689 N. Curran Road in McHenry.
CDs up to 4.96% at Discover Bank
Discover Bank (i.e. the bank wing of Discover Card) doesn’t have any local branches — their one and only branch is in Delaware — but since they’re headquarted in Riverwoods, I thought I’d mention their CD rates, which are pretty competitive across terms:
- 1-year CDs: 3.76% APY
- 18-month CDs: 4.02% APY
- 2-year CDs: 4.23% APY
- 30-month CDs: 4.34% APY
- 3-year CDs: 4.44% APY
- 4-year CDs: 4.70% APY
- 5-year CDs: 4.96% APY
The CDs have a minimum of $2500. They can be opened online at discoverbank.com or by calling 800-347-7000.
(Thanks to the reader who e-mailed this to me.)
1-year 5% IRA CD at South Division Credit Union
South Division Credit Union has a very nice short-term deal for those looking to rollover an IRA: Their one-year IRA rollover CD is earning 5.00% APY. This CD has a minimum deposit of $50,000, and because South Division CU is calling it a “rollover CD,” I would guess it is available only to new money to the credit union. South Division Credit Union also has decent rates on regular 6-month and 12-month CDs, both of which are earning 3.75% APY.
South Division CU has seven locations: Four in Chicago, two in Evergreen Park, and one in Midlothian. South Division Credit Union does not seem to list their field of membership on their webpage — contact them for more information.
5% 7-year CDs at Navy FCU
If you’re looking to lock in your money for the very long term, Navy Federal has a good rate for 7-year CDs: 5.00% APY. This CD has a minumum of $20,000, although with a minumum of $1000, you could get the same CD with a slightly lower 4.85% APY. Navy FCU also has some decent 5-year CDs: 4.40% APY with $100,000, 4.25% APY with $20,000, and 4.10% APY with $1000.
Navy Federal Credit Union is open to all active duty, reservist, and retired Navy and Marine Corps (and their families), as well as civilian Navy employees and contractors. There are two Navy Federal branches in Great Lakes — at the Naval Station Great Lakes (847-785-0551) and the Recruit Training Command (866-755-4682) — but Navy Federal’s website says to call first because “members who are not assigned to or do not work on these bases may not be able to visit an on-base branch offices or use an on-base ATM.”
CDs still up to 4.5% at Countrywide Bank
We’ve mentioned this the past couple months, but since it’s available, and it’s of the best deals available to everyone in Chicagoland, we’ll mention it again:
Countrywide Bank has some very good rates at terms up to 5 years:
- 6-month CD at 3.65% APY
- 1-year CD at 3.95% APY
- 2-year CD at 4.25% APY
- 3-, 4-, and 5-year CDs at 4.50% APY
These CDs all have $10,000 minimums and can be opened either online or at a Countrywide Financial Center. The CDs are also available as IRA CDs with a $2500 minimum.
Countrywide has 14 financial centers in Chicagoland, located in Chicago, Crystal Lake, Elgin, Elmhurst, Glenview, Highland Park, Joliet, Libertyville, Naperville, Oak Lawn, Orland Park, Plainfield, Schaumburg, and Wheaton.
4.25% 5-year CD at Liberty Bank for Savings
Liberty Bank for Savings has a pretty good 5-year CD available: 4.25% APY. This CD requires a minimum of $2500 to open. Unfortunately, the APY goes down a full percent if the CD is opened as an IRA CD.
Liberty Bank has five locations: Three in Chicago, one in Lincolnwood, and one in Park Ridge.
Checking Account Bonus up to $100 North Shore Trust and Savings
North Shore Trust and Savings is offering up to $100 bonus for opening a checking account with them. There’s a $50 bonus simply for opening their free or premium checking account with a debit card, an additional $25 if you set up direct deposit or a recurring payment with them, and other $25 if you sign up for online bill pay. There is a $25 fee if the checking account is closed in the first 90 days. This deal doesn’t seem to be listed on their website, but they do have an ad for it listed here. The ad says that the offer is as of June 1st, but the ad was put in the paper on June 5th, so it’s likely still going on.
North Shore Trust and Savings has three locations: Two in Waukegan and one in Lindenhurst.
Rates up to 4.75% at Credit Union 1
Credit Union 1 has a number of good to very good CD rates available:
- 6 months: 3.85% APY
- 12 months: 3.90% APY
- 18 months: 3.925% APY
- 24 months: 3.95% APY
- 30 months: 4.00% APY
- 36 months: 4.35% APY
- 48 months: 4.60% APY
- 60 months: 4.75% APY
Those CDs have a $10,000 minimum, but you can also get them with a $1000 minimum if you’re willing to take 10 basis points off those rates. Even better, however, is that you can add 10 basis points to those rates if you get the CD as an Traditional IRA CD, Roth IRA CD, or Coverdell ESA.
Credit Union 1 is privately insured by American Share Insurance rather than publicly through the FDIC or NCUA, which means that the union’s assets aren’t backed by the U.S. Government — although it also means that the assets are insured for $250,000 rather than $100,000.
Credit Union 1 is a relatively open credit union, with many different groups eligible for membership: active and retired military, and employees at the state of Illinois, Cook County, University of Illinois at Chicago, Eastern Illinois University, Mitsubishi Motor Manufacturing of America, AON and Chicago Tribune, as well as 750 additional companies.
Credit Union 1 has 19 locations, 11 of which are in Chicagoland: Seven in Chicago, and one each in Evergreen Park, Libertyville, Lombard and Northlake.
