[Please note: This page is part of the Chicago CD Rates archive. Most of these deals on this page are not current and no longer available. Please check the date of the post before getting too excited and driving to a bank an hour away. If you have any doubts whether the deal is available, contact the bank or credit union. For a list of more current rates, visit our homepage.]
Hawthorne Credit Union has a couple CDs with competitive rates: Their 7-month CD is yielding 4.00% APY, and their 20-month CD is yielding 4.40% APY. Both CDs have a minimum of $5000. The 20-month CD is also available as an IRA CD, but with a minimum of $10,000. However, Hawthorne states that the rates on these CDs include their “Family Rewards rate bonus,” which kicks in once you’ve reached $40,000 in deposits with them. So if the CD is less than $40,000, and you don’t have any other deposits with Hawthorne, it looks like the rate on the CD may be less than listed above.
Membership in Hawthorne Credit Union is open to anyone who lives or works in DuPage County, Kane County, Kendall County, Will County, or Cook County west of Route 83. Not sure if your company is a credit union sponsor? You may contact us or your Benefits Department. It is also open to anyone who is a clergy or member with the United Church of Christ, Disciples of Christ, and affiliated churches within the State of Illinois. Hawthorne Credit Union has three branches: one at Lucent Technologies in Naperville, Indian Hill Building #2, First Floor; one at 1519 N. Naper Blvd in Naperville, and one at 267 S. Weber Road in Bolingbrook.
BCU has a pretty high yield on their 7-month CDs: 4.00% APY. The CD has a minimum of only $500. BCU also has a 12-month “kids promotion” CD that’s yielding 4.25% APY. The “kids promotion” CD has a minimum of $500 as well, but also a maximum of $10,000.
BCU is open to anyone who lives in Lake County (Illinois), DuPage County, McHenry County, Kane County, Cook County north of Route 58, the city of Schaumburg, or Kenosha County in Wisconsin. The best that I can tell, there are six area branches of BCU, listed below for your convenience:
- 415 South Main, Crystal Lake
- Lake Cook Road and Saunders Road, Deerfield
- 400 North Field Drive, Lake Forest
- 1485 Waukegan Road, McGaw Park
- West Belvidere Road and North Wilson Road, Round Lake
- 340 North Milwaukee Avenue, Vernon Hills
Valley Community Bank has the best local non-promo savings account I’ve seen recently. Their statement savings account is earning 4.00% APY. Unfortunately, you must have over $100,000 in savings to receive this rate; amounts less than that earn only 0.25% APY.
Valley Community Bank has six locations: three in St. Charles and one each in Batavia, Geneva, and North Aurora.
National City Bank has a number of very good CDs available right now. The first rate listed is for customers who have an existing National City personal checking or savings account or who open a new personal checking account (except Free Checking) or a Money Market Savings account with $1,500. The rate in brackets is for customers who don’t meet those requirements.
- 18-month CD: 4.50% APY [4.00% APY]
- 24-month CD: 5.00% APY [4.75% APY]
- 36-month CD: 5.25% APY [5.00% APY]
- 48-month CD: 5.25% APY [5.00% APY]
The CDs also have a minimum deposit of $10,000 and a maximum deposit of $250,000 per household. The rates are also available for IRA CDs and Rollover IRA CDs. This deal is currently scheduled to last through November 1st.
National City has many branches throughout Chicagoland.
Builders Bank has a nice 12-month CD available: The CD is yielding 4.25% APY. This CD has a minimum deposit of $2500. The CD is also available as an IRA CD with a minimum of $500. The rate is expected to remain through tomorrow (October 23).
Builders Bank has two branches, both on North LaSalle Street in Chicago.
Washington Federal Bank has two locations, both in Chicago: 2869 S. Archer Ave. and 1410 W. Taylor St.
[Thanks to the anonymous reader who posted this on our finding deals thread.]
STC Capital Bank is offering a good short-term CD: Their 6-month CD is yielding 4.00% APY. This CD has no minimum and a $100,000 maximum. This CD is only good for new money to the bank, and there is only one CD allowed per household.
STC Capital has two locations, both in St. Charles.
(The 5.00% CD listed below is no longer available.)
Second Federal Savings has a very good CD for those looking to invest for around a year: Their 14-month CD has an APY of 5.00%. This CD has a minimum deposit of $5000. Second Federal also has 4-month CD yielding 4.00% APY and a 13-month CD yielding 4.20% APY (although why you would go for that over the 14-month CD, I’m not sure).
Second Federal has three locations, all in Chicago: 26th & Pulaski, Cermak & Cicero, and Archer & 43rd.
Lisle Savings Bank is offering a 4.25% APY CD for a number of different terms, including some shorter terms (where you’re less likely to find a CD yielding that high). The 4.25% APY CD is available for 6 months, 9 months, 12 months, or 18 months. The CDs have a minimum deposit of $4000.
Lisle Savings Bank has two locations, both in Lisle.
(Thanks to the reader who e-mailed me this deal.)
Marquette Bank has a good short-term CD: Marquette’s 4-month CD is yielding 4.00% APY. This CD has a minimum of only $500. Marquette also has a 14-month CD that has a yield of 4.25% APY which also has a $500 minimum.
Marquette Bank has 24 branches throughout the Chicago area, including branches in Aurora, Bridgeview, Bollingbrook, Chicago (7), Evergreen Park (2), Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn (2), Orland Park (4), Romeoville, and Summit.
[Note: These rates have been extended through Friday, October 24. ]
Omni National Bank has two very good CDs available through the end of this week: Their 15-month CDs have an APY of 4.50%, and their 27-month CDs have an APY of 4.75%. The minimum opening deposit on both these CDs is $5,000. Omni National does not seem to list their CD rates on their website, but I received an e-mail from Omni verifying these rates and letting me know that the CDs are available through Friday (October 17th).
Omni National Bank has ten locations, one of which is in the Chicago area: 55 W. Van Buren Street in Chicago.
(Thanks to Lisa at Omni National Bank for e-mailing me these rates.)
First DuPage Bank has an interesting CD avaiable: a callable 36-month CD that’s yielding 5.00% APY. What’s a callable CD? In this case, First DuPage will guarantee the 5.00% rate for the first six months, but anytime after that (and before the end of the term), First DuPage has the right to cancel the CD and return to you your initial deposit and any interest you have earned through that point. While First DuPage has the right to close down the CD early, you do not, unless you pay the early withdrawal penalty. On the other hand, this is very good midterm CD rate, so it might be worth considering.
First DuPage Bank has one location: 520 North Cass Avenue in Westmont.