[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.]
Great Lakes Credit Union has a number of competitive CDs available:
- 3-year CD: 3.25% APY
- 4-year CD: 3.50% APY
- 5-year CD: 3.75% APY
These CDs all have a $500 minimum. To get these rates, you must be a member of the “Presidents Club,” which requires having $50,000 in loans or deposits at Great Lakes. You’ll have to ask if whether a $50,000 CD would meet that requirement. If you are over 55 or have $15,000 in loans/deposits, the rates are available, but at a 15 basis point drop. If none of those requirements are met, the rates go down a full half-percent.
Maybe the best deal is one I can’t verify on their webpage: A anonymous reader told wrote in our banking deals commenting thread that Great Lakes CU is offering a 3.25% APY on a 7-month IRA CD. According to the commenter, the CD has a $500 minimum and the deal will end on April 15th. I can’t find this deal listed on their webpage, but if if sounds interesting to you, I suggest calling your nearest branch. [Update 4/7: I have now verified this deal with someone at Great Lakes Credit Union.]
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. Great Lakes CU has 9 branches, all in Illinois — one each in Antioch, Gurnee, Libertyville, North Chicago, Round Lake Beach, Spring Grove, Waukegan, and Zion, as well as a Chicago Federal Reserve Bank Branch that is limited to employees only.
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