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[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.]
1.56% Health Savings Accounts at Corporate America Family Credit Union
Corporate America Family Credit Union (CAFCU) has a very nice rate on their Health Savings Accounts (HSAs): 1.56% APY on balances over $10,000. Balances over $5000 still make a competitive 1.31% APY, and balances over $1000 return 1.05%. Corporate American Family CU also has reasonably competitive 3-year CDs available: 1.87% APY on deposits over $10,000. IRA certificates are also available with that 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 8 branches in the greater Chicago area: in Burbank, Chicago, Crystal Lake, Elgin, Oak Brook, Rosemont, Streamwood, and Warrenville.
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.
5.15% Health Savings Account at Alliant CU
We’ve mentioned before that Alliant Credit Union has, by far, the best health savings account we’ve seen in the Chicago area, but it’s worth mentioning again, since their rate is still an amazing 5.15% APY. The requirements: Eligibility to open a HSA, and a $100 minimum. Alliant also still has one of the best savings accounts or money market accounts in Chicagoland — their regular savings is returning 3.75% APY.
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.
4.00% Savings Account/5.15% Health Savings Account at Alliant Credit Union
We last mentioned both these a couple months ago, but since they still hold we thought we’d bring them up again. First, Alliant Credit Union’s savings account, which only has a $100 minimum to earn interest, is currently earning 4.00% APY — the best of any local savings account. Second, and even better, Alliant also has a Health Savings Account (HSA) that’s currently earning a whopping 5.15% APY with a minimum of $100. Contact them to see if you’re eligible for a HSA.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.
Chicagoland’s Two Best Savings Accounts: Ravenswood Bank and Alliant Credit Union
Ravenswood Bank has the best savings account rate we’ve seen recently at any local bank: Their “Classic Passbook Savings” is currently earning 4.25% APY. This account has a $1000 opening deposit and a $1000 minimum balance to earn interest on the account. There is a $3 fee per “excessive transaction”; you’ll have to ask them what specifically that means.
Even better, if you’re eligible, is Alliant Credit Union‘s savings account, which is currently earning 4.35% APY. There’s a $5 minimum on the account (which is automatically opened for you when you join Alliant CU), and interest is earned with a minimum of $100. Alliant also has a Health Savings Account (HSA) that’s currently earning a whopping 5.15% APY with a minimum of $100 — contact them to see if you’re eligible.
Ravenswood Bank has two locations, both in Chicago: one in Ravenswood and one in Wicker Park.
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.
