[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 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 International Bank of Chicago
International Bank of Chicago has a few nice short-term to mid-term CD rates:
- 6-month CD: 2.25% APY
- 1-year CD: 2.50% APY
- 18-month CD: 2.75% APY
- 2-year CD: 3.00% APY
The CDs all have a minimum deposit of $10,000.
International Bank of Chicago has four branches: Two in Chicago (including one in Chinatown) and one each in Stone Park and Bellwood.
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.
Coverdell ESA rates up to 4.00% at First Northern Credit Union
First Northern Credit Union has been one of the market leaders in Coverdell Educational Savings Account rates for a while now, and they’re still very competitive, ratewise:
- 6-month ESA CD: 3.00% APY
- 12-month ESA CD: 3.10% APY
- 18-month ESA CD: 3.25% APY
- 24-month ESA CD: 3.40% APY
- 36-month ESA CD: 3.65% APY
- 60-month ESA CD: 4.00% APY
There is no minimum or maximum listed on these CDs, although federal law puts a $2000 per child per year maximum on Coverdell ESA deposits.
First Northern CU is open to anyone who lives or works in Boone County, DeKalb County, DuPage County, Grundy County, Kane County, Kendall County, Lee County, McHenry County, Ogle County, Stephenson County, Will County, and Winnebago County, as well as the city of Evanston. There are also a number of employer groups that are eligible, including those who work at Northwestern Memorial Hospital or Northwestern University. Based on personal experience, First Northern CU does check these criteria carefully, so be sure to bring proof of employer eligibility (such as a paystub) if joining based on an employer group or county/city of employment.
First Northern Credit Union has five branches: Two in Chicago, two in Rockford, and one in Evanston.
3.30% 6-month/3.40% 12-month “Flexible CD” at Center Bank
Center Bank is offering a very high rate on their 6-month and 12-month CDs: Their 6-month CDs are yielding 3.30% APY, and their 12-month CDs are yielding 3.40% APY. These CDs have a minimum balance requirement of $500. Even better, though, is that these CDs are what Center Bank calls a “Flexible CD,” meaning that it has some liquid features: ”You may make additional deposits into account before maturity during a term. The minimum amount of any additional deposit is $1,000. The total amount of any additional deposits during a term can not exceed the initial deposit at account opening or at renewal.” In addition, [t]wo penalty-free withdrawals…are allowed during any term,” as long as they don’t take the balance of the CD less than $5000. You can read the entire list of restrictions and directions at their ad here.
Center Bank has 18 branches, but only one in Illinois: 5520 N. Lincoln Ave. in Chicago.
(Hat tip to Bank Deals Blog.)
2-year 3.04% CD, 3-year 3.30% CD at Corporate America FCU
Corporate America Federal Credit Union is offering two competitive CDs: a 2-year CD yielding 3.04% APY, and a 3-year CD yielding 3.30% APY. Both CDs have a $10,000 minimum, although both are available with a $1000 minimum if you’re willing to take about a 0.25% cut in APY. Both CDs are also available as traditional IRAs, Roth IRAs, or Coverdell ESAs (Educational Savings Accounts).
If you’re looking for a shorter term CD, Corporate America FCU also has a 1-year CD yielding 2.79% APY and a 6-month CD yielding 2.53% APY, also with a $10,000 minimum, and available as an IRA or ESA.
Corporate America FCU also has good rates on Health Savings Accounts: 3.30% APY above $10,000, and various rates between about 2.50% and 3.00% APY for lower balances.
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 14 branches in the greater Chicago area: Two in Chicago, two in Elgin, and one each in Burbank, Crystal Lake, Huntley, McHenry, Oak Brook, Rosemont, Schaumburg, St. Charles, Streamwood, and Warrenville.
CDs up to 4.40% at Credit Union 1
Credit Union 1 has a number of very good CD rates available:
- 6-month CD: 3.00% APY
- 12-month CD: 3.10% APY
- 18-month CD: 3.15% APY
- 24-month CD: 3.50% APY
- 30-month CD: 3.65% APY
- 36-month CD: 3.90% APY
- 48-month CD: 4.15% APY
- 60-month CD: 4.40% APY
These CDs all have a minimum deposit of $10,000. Even better, however, are Credit Union 1’s IRA CDs, which all have rates between 10 and 20 basis points higher than their traditional CDs. 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 competitve rates: between 2.00% APY and 2.85% APY, depending on the amount in the money market. Credit Union 1’s Health Savings accounts are also returning a very nice 3.20% 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.
CDs up to 4.60% at Navy Federal
Navy Federal Credit Union has a number of interesting CDs available. Possibly the most interesting is their 4.60% APY, 30-month CD. This CD is available only as an IRA CD or a Coverdell ESA CD, and it has a minimum of $15,000. Navy Federal is also offering a 6-month CD that’s yielding 3.25% APY. This CD has a minimum of $10,000, although you can get a 6-month, 3.00% APY CD with a minimum of $100. Navy Federal is also offering a 1-year, 3.75% APY CD, although this CD has a few hitches: It has a maximum of only $5000, you can’t currently have a CD (of any term) with Navy Federal, and members age 18 or older must have a minimum direct deposit of $300 to a Navy Federal checking account prior to purchase and establish a monthly automatic deposit of at least $10 to the CD. Navy Federal has some good long-term traditional CDs as well: Their 5-year CD is yielding 3.85% APY for deposits over $20,000 (3.70% APY under $20k, 4.00% APY over $100k), and their 7-year CD is yielding 4.25% APY, also for deposits more than $20,000 (4.10% under $20k).
Navy Federal Credit Union is open to all active duty, reservist, and retired Navy and Marine Corps (and their families), as well as civilian Navy employees and contractors. There are two Navy Federal branches in Great Lakes — at the Naval Station Great Lakes (847-785-0551) and the Recruit Training Command (866-755-4682) — but Navy Federal’s website says to call first because “members who are not assigned to or do not work on these bases may not be able to visit an on-base branch offices or use an on-base ATM.”
(Hat tip to Bank Deals Blog.)
4-month, 4.00% at Great Lakes CU
[This deal is no longer available.]
Great Lakes Credit Union has what’s a pretty competitive short-term CD: a 4-month CD yielding 4.00% APY. The CD has no minimum and no maximum deposit, although you can only open one of these CDs per Social Security Number.
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 10 branches — 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 and Railroad Retirement Board Branch that are limited to employees only.
(Thanks to the reader who e-mailed us this deal.)
4-month, 3.50% CD at Ridgestone Bank
Ridgestone Bank is offering a competitive short-term CD: a 4-month CD that’s yielding 3.50% APY. This CD has a minimum deposit of $40,000. This rate doesn’t seem to be listed on Ridgestone’s website, but there was an ad for it in Sunday’s Chicago Tribune (11/30, sec. 4, p. 2).
Ridgestone Bank has two branches, one of which is in Illinois: 10 N. Martingale Road, Suite 100, in Schaumburg.
6-month, 3.65% no-penalty CD from STC Capital
STC Capital has a short-term CD they’ve started offering with a decent return: Their 6-month CD is yielding 3.65% APY. The nicest thing about this CD is that there is no penalty for withdrawal, with the exception of withdrawals within the first seven days and multiple withdrawals within a 7-day period. If you do decide to open this CD, please double-check the specifics of the “no withdrawal penalty” with STC Capital. This CD must be new money to STC Capital. The CD has a $100,000 maximum and no listed minimum.
STC Capital has two locations, both in St. Charles.
4.00% 4-month CD at Ridgestone Bank
Ridgestone Bank has a high very-short-term CD available: Their 4-month CD is yielding 4.00% APY. The minimum deposit actually changes depending on what branch you open the CD at: The Brookfield (Wisconsin) branch has a minimum of $20,000 on this CD, while the Schaumburg branch has a minimum of $40,000. Both of which require the deposit to be new money to Ridgestone Bank.
Ridgestone Bank has two locations: 10 Martingale Rd., Suite 100 in Schaumburg, and 13925 W. North Ave. in Brookfield, WI (near Milwaukee).
