Please note:

Competitive CDs in various terms at AA Credit Union

AA (American Airlines) Credit Union has a number of extremely competitive mid-term and long-term CDs:

1-year CD: 1.26% APY
2-year CD: 1.76% APY
30-month CD: 2.02% APY
3-year CD: 2.27% APY
4-year CD: 2.42% APY
5-year CD: 2.88% APY

These CDs all have a $10,000 minimum, although they’re also available with a $1000 minimum if you’re willing to take 0.05%-0.10% off of the rate. Their penalty for early withdrawal is 6 months’ interest on 1-to-3-year CDs, and 1 year’s interest on 4- and 5-year CDs. AACU tends to change their rates only once a month, so these rates may be good through all of March; no promises, however.

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.

1-year, 1.20% CD at State Bank of India

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.

Competitive CDs across terms at National Republic Bank of Chicago

National Republic Bank of Chicago has a number of CDs that are at competitive rates:

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.

3-year, 2.02% CD at Liberty 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.

1.23% 1-year CD at First Choice Bank

One-year CDs are very low right now, so this CD is competitive at 1.23% APY: a 12-month CD at First Choice Bank. You can see an ad for the CD here. The CD has a minimum deposit of $1000 and a maximum of $100,000. There are also a 3-month CD available at .76% APY and a 6-month CD at .91% APY.

First Choice Bank has two branches: State Street in Geneva and Naperville Road in Wheaton.

1.30%/12-month, 1.48%/18-month CDs at Leaders Bank

Leaders Bank is offering two competitive mid-term CDs: a 12-month CD yielding 1.30% APY, and an 18-month CD yielding 1.48% APY. Both CDs have a minimum deposit of $10,000. Leaders Bank doesn’t seem to list their rates on their website, but these rates were advertised on page 4 of the Business section in Sunday’s Chicago Tribune (10/17/10).

Leaders Bank has three branches: in Oak Brook, Naperville, and Hoffman Estates. However, the ad in the Chicago Tribune only lists the Oak Brook and Naperville branches, so it’s possible the Hoffman Estates’ branch might have different rates on its CDs.

CDs up to 2.75% at Evergreen Private Bank

Evergreen Private Bank has a few competitive-rate CDs available:

2-year CD: 1.70% APY
30-month CD: 1.90% APY
3-year CD: 2.10% APY
4-year CD: 2.30% APY
5-year CD: 2.75% APY

These CDs all have a minumum deposit of $1000. Evergreen Bank Group also offers the CDARS Program, which provides FDIC insurance for Certificates of Deposit for up to $50,000,000; contact them for more information on that.

Evergreen Private Bank has one location: 1515 West 22nd Street, Suite 100W in Oak Brook — right next to Oakbrook Mall.

CDs up to 2.75% at Alliant Credit Union

Our apologies for the lack of posting recently. It should start picking up again.

Alliant Credit Union has a number of competitive CD rates available:

12-to-23-month CDs: 1.60% APY
24-to-35-month CDs: 1.85% APY
36-to-47-month CDs: 2.10% APY
48-to-60-month CDs: 2.75% APY

These CDs have a $25,000 minimum, but the CDs are also available with a $1000 minimum with only a .10% rate drop. These rates are also available as traditional IRA CDs, Roth IRA CDs, SEP IRA CDs, and Coverdell ESAs.

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 at United World Headquarters in Mt. Prospect (United World Headquarters employees only), and one in O’Hare Airport.

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 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.

2.50% 12-Month CD at Advantage National Bank

Advantage National Bank Group has a relatively high short-term CD: Their 12-month CD is yielding 2.50% APY. The minimum deposit is $2,500.

Advantage National Bank Group owns three banks: Elk Grove Village Bank & Trust in Elk Grove Village, Old Town Bank & Trust in Bloomingdale, and Roselle Bank & Trust in Roselle.

(Hat tip to Bank Deals Blog.)

Chicago CD Rates

the highest cd rates and money market rates in the chicago area

Competitive CDs in various terms at AA Credit Union

1-year, 1.20% CD at State Bank of India

Competitive CDs across terms at National Republic Bank of Chicago

3-year, 2.02% CD at Liberty Bank

1.23% 1-year CD at First Choice Bank

1.30%/12-month, 1.48%/18-month CDs at Leaders Bank

CDs up to 2.75% at Evergreen Private Bank

CDs up to 2.75% at Alliant Credit Union

CDs up to 3.25% at Access Credit Union

CDs up to 3.00% at Alliant Credit Union

CDs up to 3.39% at AA Credit Union

2.50% 12-Month CD at Advantage National Bank

About

Local CD Rates

Financial Websites

Main Categories

CD Terms

Banks

Credit Unions

Archives