[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.]
Access Credit Union has a number of very good CD rates up to 3.25% APY:
- 6-month CD: 2.15% APY
- 12-month CD: 2.41% APY
- 18-month CD: 2.55% APY
- 24-month CD: 2.65% APY
- 30-month CD: 2.91% APY
- 36-month CD: 3.00% APY
- 48-month CD: 3.15% APY
- 60-month CD: 3.40% APY
These CDs all have $10,000 minimums. They are also available with $500 minimums, but 15-17 basis points lower than the $10,000-minimum CDs. The CDs are also all available as IRA CDs.
Membership is available for a relatively large geographical area: Anyone who lives or works in Bellwood, Berkeley, Berwyn, Broadview, Brookfield, Cicero, Elmhurst, Forest Park, Hillside, Hinsdale, Lagrange, Lagrange Park, Maywood, Melrose Park, Northlake, North Riverside, Oak Brook, Oak Park, River Forest, Riverside, Stone Park, and Westchester. Membership is also available to anyone who lives or works in Chicago zip code 60616 or in the area bordered by Lake Michigan on the East, California Ave on the West, Garfield Ave/55th Street on the South and Harrison Street on the North.
Access Credit Union has two locations: One in Chicago and one in Westchester.
Western Springs National Bank and Trust has a competitve mid-term CD available: Their CDs from 15 months to 18 months are earning 2.25% APY. This CD has a minimum deposit of $10,000. Western Springs National Bank is also offering a 6-month CD with an APY of 1.50%, also with a $10k minimum.
Western Springs National Bank has two branches: 4456 Wolf Road in Western Springs and 6575 Joliet Road in Countryside.
Racine Municipal Employees Credit Union has a competitive CD available for two years: 2.53% APY. This CD has a $1000 minimum. Racine Municipal Employees CU also has 12-month and 18-month CDs available at 2.12% APY.
Racine Municipal Employees Credit Union is essentially open to all federal, state, county, school district, or local employees who work in Racine County, Wisconsin. Racine Municipal Employees CU has one location: 1907 Lathrop Ave. in Racine, WI.
- 12-to-23-month CDs: 2.15% APY
- 24-to-35-month CDs: 2.30% APY
- 36-to-47-month CDs: 2.75% APY
- 48-to-60-month CDs: 3.00% APY
These CDs all have a $25,000 minimum, although you can get the CDs with only a $1000 minimum if you are willing to take a 0.15% drop in the rate. These rates are also available as traditional IRA CDs, Roth IRA CDs, SEP IRA CDs, and Coverdell ESAs. In my experience, Alliant only changes its rates at the beginning of the month, so these rates are probably good through the end of September.
Alliant Credit Union is a relatively open credit union with quite a few ways to join. Anyone who lives in Arlington Heights, Bensenville, Des Plaines, Elk Grove, Elmhurst, Franklin Park, Harwood Heights, Itasca, Mt. Prospect, Northlake, Niles, Norridge, Park Ridge, Prospect Heights, River Grove, Rolling Meadows, Rosemont, Schiller Park, and Wood Dale is eligible. In addition, anyone who works on O’Hare Airport property, works for United Airlines or its business affiliates, is a member of Life Time Fitness, or who is a member of the National PTA is able to join Alliant. If you don’t meet any of these criteria, you can join the National PTA for $25.
Alliant Credit Union has 10 locations, three of which are in Chicagoland: One in Des Plaines, one in Elk Grove Township, and one in O’Hare Airport.
- 1-year CD: 2.12% APY
- 2-year CD: 2.22% APY
- 30-month CD: 2.52% APY
- 3-year CD: 3.03% APY
- 4-year CD: 3.14% APY
- 5-year CD: 3.39% APY
These CDs all have a minimum of $10,000. The CDs are available with a minimum of $1000 as well, but the APYs on the CDs drop by between 10 and 25 basis points. The penalty for early withdrawal is 180 days on each of these CDs. The 3-year, 4-year, and 5-year CDs have all been the same APY for the last three months — an eternity in our falling rate enviornment — so they should be commended for being able to keep their CD rates steady.
AA Credit Union is open to anyone who works directly with the air transportation industry — not just American Airlines employees. This includes airline employees, TSA and FAA employees, baggage handlers, those who deal with airline food services, and others. It also is open to those who are retired from the air transportation industry.
The four local branches of AA Credit Union are all located on the grounds of O’Hare Airport — in Terminal 3, Concourse K; in Terminal 3, Concourse G; in the West Mezzanine Level, Terminal 3; and at 9950 W. Lawrence Ave., Suite 219.