[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.]
CDs up to 2.91% at Access Credit Union
Access Credit Union has a number of competitive long-term CDs:
- 3-year CDs: 2.51% APY
- 4-year CDs: 2.65% APY
- 5-year CDs: 2.91% APY
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.
CDs up to 3.25% at Access Credit Union
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.
CDs up to 3.00% at Alliant Credit Union
Alliant Credit Union always seems to have some of the highest CD rates and savings rates in Chicagoland, and their CD rates remain pretty competitive:
- 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.
CDs up to 3.39% at AA Credit Union
AA Credit Union generally has some of the higher CD rates among the more restrictive credit unions, and they still have a number of competitive CDs available:
- 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.
Rates 3.00% and above at Access Credit Union
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.
25-month, 2.65% CD at Broadway Bank
Broadway Bank has a couple competitive CDs available: Their 25-month CD is yielding 2.65% APY, and their 13-month CD is yielding 2.25% APY. Both CDs require $2500 minimum deposit and require new money to the bank. Broadway Bank also has a 5-year CD that’s yielding 3.50% APY.
Broadway Bank has four branches: Three in Chicago and one in Glencoe.
16-month, 2.46% CD at Mutual Bank
Mutual Bank has a pretty high CD available in today’s CD environment: Their 16-month CD is yielding 2.46% APY. This CD has a minimum deposit of $2500 and a maximum of $95,000. Mutual Bank is also offering a 3-year CD 2.63% APY, a 4-year CD at 2.99% APY, and a 5-year CD at 3.26% APY. The 3-year CD has the same minimum, but the 4- and 5-year CDs have a minimum of only $1000. All have the same maximum. All the CDs are also available as IRA CDs.
Mutual Bank has nine branches in the Chicago area: Two in Naperville, and one each in Aurora, Carol Stream, Chicago, Downers Grove, Harvey, Roselle, and Villa Park.
25-month, 2.65% CD at Central Federal Savings
Central Federal Savings has a reasonably competitive CD offering: Their 25-month CD is yielding 2.65% APY. This rate has a $2500 and requires having a checking account with Central Federal. Without a checking account with the bank, the rate drops to 2.40% APY. Central Federal is also offering a 1-year IRA CD that’s yielding 2.00% APY. This rate also has a $2500 minimum but does not have the checking account requirement.
Central Federal Savings has two locations: 5953 W. Cermak Road in Cicero and 6940 W. Ogden Avenue in Berwyn.
CDs up to 3.39% at AA Credit Union
AA Credit Union has a number of competitive CDs available:
- 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.
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.
3-year, 3.38% CD at Chicago Patrolmen’s CU
Chicago Patrolmen’s Credit Union has a high three-year CD available: 3.38% APY. This CD has a minimum of $2500. The CD is also available as a traditional and Roth IRA CD (minimum $1000) and Coverdell Educational Savings Account CD ($500 minimum). Their 2-year CD is also high in today’s financial environment: 2.83% APY, with the same minimums as above.
Membership in the Patrolmen’s Credit Union is limited to active and retired sworn personnel in the Chicago Police Department, civilian Police Department employees, and employees of the Chicago Office of Emergency Management Communications, as well as the immediate families of all those groups. The credit union has three locations, all in Chicago: 1359 W. Washington Boulevard, 2766 W. 111th Street and 5310 N. Harlem.
2.89% 3-year CD at CAFCU
Corporate America Family Credit Union (CAFCU) has a competitive 3-year CD available: 2.89% APY. This CD has a minimum of a $10,000 deposit, although the CD is available at 2.79% APY with a $1000 minimum deposit. The CDs is also available as a traditional IRA CD, Roth IRA CD, or Coverdell ESA (educational) CD.
Corporate America Family CU is a very open credit union: Membership is open to anyone who lives or works within 25 miles of a branch, i.e. pretty much the entire Chicago area. Corporate America Family CU has 10 branches in the greater Chicago area: Two in Chicago, and one each in Burbank, Crystal Lake, Elgin, Oak Brook, Rosemont, St. Charles, Streamwood, and Warrenville. (The 11th local branch, in Schaumburg, closed on May 29th.)
CDs up to 3.75% (3.95% for IRA) at Credit Union 1
Credit Union 1 has a number of competitive CD rates available, all with a a minimum deposit of $10,000:
- 24-month CD: 2.75% APY
- 30-month CD: 3.00% APY
- 36-month CD: 3.25% APY
- 48-month CD: 3.45% APY
- 60-month CD: 3.75% APY
As is typical with Credit Union 1, their IRA CDs are even higher — all of them .20% higher than the tradiational CD rates. All the traditional and IRA CDs are also available with a minimum deposit of only $1000, although that drops the yield by 10 basis points.
Credit Union 1 also has a money market that’s yielding competitive rates: between 1.70% APY and 2.55% APY, depending on the amount in the money market. Credit Union 1’s Health Savings accounts are also returning a very nice 2.50% with no minimum.
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.
