4.11% IRA Savings Accounts at CMECU
CMECU (Chicago Municipal Employees Credit Union) has a fantastic rate on their IRA Savings Accounts: 4.01% APY for accounts holding $500 to $9,999, and 4.11% APY for accounts holding $10,000 or more. These accounts are also available for Coverdell ESAs (formerly known as Educational IRAs).
Membership in CMECU is available to people who work for the City of Chicago, the Chicago Public Schools, or any sister agency to the City of Chicago such as the Chicago Housing Authority, Chicago Park District, or Public Building Commission. Members and employees of the Municipal Employees’ Annuity and Benefit Fund of Chicago or the Laborers and Retirement Board are also eligible to join, as well as those who live, work or worship in the Austin/West Garfield community. CMECU has two offices, both in Chicago: one at 33 N. LaSalle St. and one at 4909 W. Division St.
4.10% 7-month CD at Countrywide Bank
Countrywide Bank has a very good short-term CD available: a 4.10% 7-month CD. Like all Countrywide’s CDs, this CD has a minimum of $10,000 or a minimum of $2500 for an IRA CD. Countrywide has some other nice CDs available as well: Their 2-year CDs return 4.00% APY, and their 3-, 4- and 5-year CDs return 4.25% APY.
Countrywide has 14 financial centers in Chicagoland, located in Chicago, Crystal Lake, Elgin, Elmhurst, Glenview, Highland Park, Joliet, Libertyville, Naperville, Oak Lawn, Orland Park, Plainfield, Schaumburg, and Wheaton.
(Thanks to trinidon2k.)
3% Checking and good CD rates at Wheatland Bank
Wheatland Bank has one of the best checking account rates we’ve seen recently: Their “Personal Checking with Interest” is currently paying 3.00% for balances over $2500. Below $2500, the interest goes to 0%. Wheatland also has a number of very competitive CDs:
- 3-month, 6-month, 1-year and 18-month CDs: 4.00% APY
- 2-year and 3-year CDs: 4.50% APY
- 4-year and 5-year CDs: 5.00% APY
The CDs also have a minimum deposit of $2500, and the CDs can be opened as IRA CDs and business CDs.
Wheatland Bank has one branch: 2244 95th Street in Naperville.
(Thanks to the reader who e-mailed me this deal.)
(Note: This is Chicago CD Rates’ 200th post — thanks for visiting us in the past year!)
4.15% 18-Month CD at Builders Bank
Builders Bank has a competitive 18-month CD available: 4.15% APY. The CDs have a minimum of a $2500 deposit, although the CDs are available as IRA CDs with just a $500 minimum. Builders Bank also has a 12-month CD available at 4.00% APY with the same minimum deposits.
Builders Bank has two branches, both on North LaSalle Street in Chicago.
1-year 5% IRA CD at South Division Credit Union
South Division Credit Union has a very nice short-term deal for those looking to rollover an IRA: Their one-year IRA rollover CD is earning 5.00% APY. This CD has a minimum deposit of $50,000, and because South Division CU is calling it a “rollover CD,” I would guess it is available only to new money to the credit union. South Division Credit Union also has decent rates on regular 6-month and 12-month CDs, both of which are earning 3.75% APY.
South Division CU has seven locations: Four in Chicago, two in Evergreen Park, and one in Midlothian. South Division Credit Union does not seem to list their field of membership on their webpage — contact them for more information.
Rates up to 4.75% at Credit Union 1
Credit Union 1 has a number of good to very good CD rates available:
- 6 months: 3.85% APY
- 12 months: 3.90% APY
- 18 months: 3.925% APY
- 24 months: 3.95% APY
- 30 months: 4.00% APY
- 36 months: 4.35% APY
- 48 months: 4.60% APY
- 60 months: 4.75% APY
Those CDs have a $10,000 minimum, but you can also get them with a $1000 minimum if you’re willing to take 10 basis points off those rates. Even better, however, is that you can add 10 basis points to those rates if you get the CD as an Traditional IRA CD, Roth IRA CD, or Coverdell ESA.
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 4.50% at Mutual Bank
Mutual Bank has a number of attractive CDs in various terms:
- 18-month CD: 4.00% APY ($2500 min.)
- 36-month CD: 3.80% APY ($1000 min.)
- 48-month CD: 3.90% APY ($1000 min.)
- 54-month CD: 4.50% APY ($2500 min.)
- 60-month CD: 4.10% APY ($1000 min.)
The 18-month and 54-month CDs are also available as IRA CDs with the same minimum. For the other terms, the IRA CDs are even better:
- 36-month CD: 4.06% APY ($1000 min.)
- 48-month CD: 4.16% APY ($1000 min.)
- 60-month CD: 4.36% APY ($1000 min.)
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 4.50% at Countrywide Bank
We wrote about this last month, but we just wanted to mention it again — Countrywide Bank has some very good rates at terms up to 5 years:
- 6-month CD at 3.75% APY
- 1-year CD at 4.10% APY
- 2-year CD at 4.25% APY
- 3-, 4-, and 5-year CDs at 4.50% APY
These CDs all have $10,000 minimums and can be opened either online or at a Countrywide Financial Center. The CDs are also available as IRA CDs with a $2500 minimum.
Countrywide has 14 financial centers in Chicagoland, located in Chicago, Crystal Lake, Elgin, Elmhurst, Glenview, Highland Park, Joliet, Libertyville, Naperville, Oak Lawn, Orland Park, Plainfield, Schaumburg, and Wheaton.
4%+ 12-month CDs and IRA CDs at Patelco Credit Union
Patelco Credit Union has a couple very good CDs available:
- a 12-month CD that earns 4.07% APY
- a 12-month IRA CD that earns 4.07% APY
- a 24-to-35-month IRA CD that earns 4.00% APY
The traditional CDs have a minimum of $1000, and the IRA CDs have a minimum of only $500.
Patelco also has two deals that are continuing from earlier this year. They have a 12-month, 7.00% New Member CD, although the minimum and maximum deposit on this CD is $1000, and the CD is only available to new Patelco members. And they have what they call their gr8 r8 Savings Account: A savings account for anyone under the age of 21 that earns 8.00% APY up to $1000. The 8.00% rate will be earned through the end of 2008, at which point the “[a]ccount will transfer to regular share account, effective 01/01/09, and this account will be closed.”
Patelco CU is one of the nation’s largest credit unions, and although almost all their branches are in California, they do have one branch in Illinois at 108 Wilmot Rd., Suite 100 in Deerfield (just east of the I-294/Lake Cook Road interchange). Patelco Credit Union is open to everyone through a free membership in the California Association for Older Americans — contact Patelco for details.
4.00% 2- to 5-year IRA CDs at Home State Bank
Home State Bank has a nice IRA deal for those trying to fund one before Tax Day: Their IRA CDs of 24, 30, 36, 48, and 60 months are all earning 4.00% APY. The IRA CDs have a minimum deposit of $4000. You must have a Home State Bank checking account (or open one) to be eligible for this deal. The offer isn’t mentioned on their website, but you can see an ad for it here through April 13th. The ad implies that the rate will last through April 15th, although it does say that the rate can change at any time.
Home State Bank has eight branches: Three in Crystal Lake, two in Lake of the Hills, two in McHenry, and one in Woodstock.
