[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.
CDs up to 3.75% at First Bank of Highland Park
First Bank of Highland Park has a number of nice CDs available:
- 9-month CD: 2.25% APY
- 17-month CD: 2.75% APY
- 5-year CD: 3.75% APY
These CDs have a minimum deposit of $5000, although that drops to $1000 if the CD is opened as an IRA CD.
First Bank of Highland Park has two locations: 1835 First Street in Highland Park and 633 Skokie Blvd., 3rd Floor, in Northbrook.
(Thanks to the reader who e-mailed me this deal.)
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.
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.
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.
Rates up to 3.50% at Consumers Credit Union
Consumers Credit Union has a number of competitive CDs available at various terms:
- 9-month CD: 2.50% APY
- 16-month CD: 2.75% APY
- 22-month CD: 3.00% APY
- 59-month CD: 3.50% APY
These CDs all have a minimum of $250. For CDs over $100,000, however, the rate goes up an additional 0.25%. All the CDs are available as an IRA CDs.
Last year, Consumers Credit Union was privately insured by American Share Insurance rather than publicly insured, but they are now publicly insured by the NCUA (the credit union equivalent to the FDIC).
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.
2.70%/13-month, 3%/25-month CDs at Broadway Bank
Broadway Bank has two competitive mid-term CD rates available: a 13-month CD yielding 2.70% APY, and a 25-month CD yielding 3.00% APY. Both CDs have a minimum of $2500, and both require the money be new to the bank. The website says that the rates haven’t been updated since early March, but they were advertised in Sunday’s Chicago Tribune (sec. 4, p. 4). For those looking for a longer-term investment, Broadway Bank’s 4-year CD is yielding 3.50% APY, and their 5-year CD is yielding 4.00% APY. Those CDs have a minimum of only $1000 and are available as IRA CDs.
Broadway Bank has four branches: Three in Chicago and one in Glencoe.
