[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.]
Consumers Credit Union has a relatively high long-term CD available: Their 59-month CD is yielding 2.50% APY. This CD has a minimum deposit of $250. Even better, their jumbo 59-month CD (minimum deposit of $100,000) has an APY of 2.75%. These are really their only competitive CDs: Consumer CU’s 4-year CDs are at 1.10% APY, and it only gets lower from there.
Consumers Credit Union has five locations in the northern Chicago suburbs: Two in Waukegan, and one each in Gurnee, Mundelein, Round Lake Beach, and Volo. Unlike most credit unions, Consumers Credit Union has no barrier to membership — anyone can join by paying a one-time, non-refundable $5.00 fee to the Consumers Cooperative Association.
State Bank of India has a few good CDs rates available, at least in today’s low-rate environment. Their 1-year CDs are yielding 1.20% APY, their 2-year CDs have a yield of 1.40% APY, and their 3-year CDs are returning 1.71% APY. All the CDs have a minimum deposit of $2500, and the rate is good through at least tomorrow (November 23). At State Bank of India’s New York branch, they explicitly state that they are only offering CDs in single and joint names, not “in-trust for,” “POD,” and “trust” accounts, so that may very well apply to the Chicago branch as well. While State Bank of India is technically a branch of a foreign bank, all deposits at its U.S. banks are FDIC insured.
State Bank of India has branches in New York, LA, Washington D.C., and Chicago. Its Chicago branch is at 19 South La Salle Street, Suite 200.
USA One Credit Union has a number of competitive rates on longer-term CDs, the highest of which is a 2.80% APY on a 5-year CD. Other rates include a 3-year CD at 2.30% APY, a 3½-year CD at 2.40% APY, and a 4-year CD at 2.50% APY. If you’re looking really long-term, USA One is also offering a 10-year CD at 3.10% APY. These CDs all have a $250 minimum deposit, and according to their website it’s possible that even higher rates are available for deposits greater than $10,000.
USA One Credit Union is open to people who work within a 12 -mile radius of Matteson, as well as people who live or work in Addison, Bensenville, Berwyn, Chicago, Cicero, Elk Grove Village, Elmhurst, Glen Ellyn, Hometown, Itasca, Lombard, Oakbrook Terrace, Villa Park, Whiting and Wood Dale. USA One has two locations: 4749 Lincoln Mall Dr. in Matteson and 729 N. Route 83 in Bensenville.
- 1-year CD: 1.26% APY
- 18-month CD: 1.41% APY
- 2-year CD: 1.66% APY
- 30-month CD: 2.02% APY
- 3-year CD: 2.12% APY
- 5-year CD: 2.27% APY
These CDs all have a minimum balance requirement of $1000 and a maximum deposit of $98,999. According to the website, however, the minimum deposit requirement is waved for senior citizen accounts. The rates are accurate as of November 9th.
National Republic Bank has two locations, both in Chicago: 1201 W. Harrison and 2615 W. Devon.
- 30-month and 3-year CDs: 2.00% APY
- 4-year CDs: 2.25% APY
- 5-year CDs: 2.75% APY
Mutual Federal doesn’t list any minimum deposit for these accounts, but the CDs do have a maximum deposit of $90,000. The rates were accurate as of November 5th.
Mutual Federal Bank has two branches: 2212 W. Cermak in Chicago and 2695 Forgue Dr. in Naperville. The Naperville branch is called Great American Bank.
Liberty Bank has a decent mid-term CD available: a 3-year CD yielding 2.02% APY. This CD has a minimum deposit of $1000, and the same rate is available in a 4-year or 5-year CD. Liberty Bank also has a couple somewhat-competitive shorter CDs available: a 1-year CD at 1.00% APY, and a 2-year CD at 1.26% APY. Those CDs have the same $1000 minimum.
Liberty Bank has five locations: Three in Chicago, one in Lincolnwood, and one in Park Ridge.