[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 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 3.75% 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.)
12- and 18-month, 2.60% CDs at Builders Bank
Builders Bank has two competitive CDs: Their 12-month CD and their 18-month CD are both yielding 2.60% APY. Both CDs have a minimum deposit of $2500, although the minimum drops to $500 if you open the CD as an IRA CD. The rates are scheduled to be good through tomorrow (June 18th), although Builders Bank could change them at any time.
Builders Bank has two branches, both on North LaSalle Street in Chicago.
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.
25-month, 2.65% CD at Central Federal Savings
Central Federal Savings has a reasonably competitive CD offering: Their 25-month CD is yielding 2.65% APY. This rate has a $2500 and requires having a checking account with Central Federal. Without a checking account with the bank, the rate drops to 2.40% APY. Central Federal is also offering a 1-year IRA CD that’s yielding 2.00% APY. This rate also has a $2500 minimum but does not have the checking account requirement.
Central Federal Savings has two locations: 5953 W. Cermak Road in Cicero and 6940 W. Ogden Avenue in Berwyn.
3-year, 3.38% CD at Chicago Patrolmen’s CU
Chicago Patrolmen’s Credit Union has a high three-year CD available: 3.38% APY. This CD has a minimum of $2500. The CD is also available as a traditional and Roth IRA CD (minimum $1000) and Coverdell Educational Savings Account CD ($500 minimum). Their 2-year CD is also high in today’s financial environment: 2.83% APY, with the same minimums as above.
Membership in the Patrolmen’s Credit Union is limited to active and retired sworn personnel in the Chicago Police Department, civilian Police Department employees, and employees of the Chicago Office of Emergency Management Communications, as well as the immediate families of all those groups. The credit union has three locations, all in Chicago: 1359 W. Washington Boulevard, 2766 W. 111th Street and 5310 N. Harlem.
3.50% CDs of various terms at Wheatland Bank
Wheatland Bank is offering many of their CD terms at 3.50% APY. Their 2-year CDs, 3-year CDs, 4-year CDs, and 5-year CDs are all at that rate. Their 1-year and 18-month CDs are also at a competitive 2.50% APY. All the CDs have a minimum deposit of $2500. The CDs are all available as IRA CDs and as business CDs. Wheatland Bank’s money market account is also returning a nice 2.50% APY for deposits over $2500.
Wheatland Bank has one location: 2244 95th Street in Naperville.
CDs up to 3.75% at Great Lakes Credit Union
Great Lakes Credit Union has a number of competitive CDs available:
- 3-year CD: 3.25% APY
- 4-year CD: 3.50% APY
- 5-year CD: 3.75% APY
These CDs all have a $500 minimum. To get these rates, you must be a member of the “Presidents Club,” which requires having $50,000 in loans or deposits at Great Lakes. You’ll have to ask if whether a $50,000 CD would meet that requirement. If you are over 55 or have $15,000 in loans/deposits, the rates are available, but at a 15 basis point drop. If none of those requirements are met, the rates go down a full half-percent.
Maybe the best deal is one I can’t verify on their webpage: A anonymous reader told wrote in our banking deals commenting thread that Great Lakes CU is offering a 3.25% APY on a 7-month IRA CD. According to the commenter, the CD has a $500 minimum and the deal will end on April 15th. I can’t find this deal listed on their webpage, but if if sounds interesting to you, I suggest calling your nearest branch. [Update 4/7: I have now verified this deal with someone at Great Lakes Credit Union.]
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 9 branches, all in Illinois — 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 that is limited to employees only.
CD Rates up to 4.00% at Alliant Credit Union
Alliant Credit Union has a number of competitive CDs available:
- 12-23 months: 3.15% APY
- 24-35 months: 3.30% APY
- 36-47 months: 3.75% APY
- 48-60 months: 4.00% APY
These CDs all have a minimum deposit of $25,000, although they are available with a $1000 minimum with a 0.15% reduction in APY. These CDs are all available as Traditional IRAs, Roth IRAs, SEP IRAs, and Coverdell ESAs. Alliant CU also has a very competitive savings account that’s yielding 3.00% and a checking account that’s also yielding 2.75% (with some restrictions).
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.
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.
3-year, 4.08% CD (4.60% IRA/ESA) at Chicago Patrolmen’s Credit Union
Chicago Patrolmen’s Credit Union has a very high three-year CD available: 4.08% APY. This CD has a minimum of $2500. Even more amazing, though, is their three-year IRA/ESA CD: 4.60% APY. This CD has a minimum of $1000 for traditional and Roth IRAs and a minimum of $500 for Coverdell Educational Savings Accounts. A few other nice rates at Chicago Patrolmen’s CU:
- 1-year CD: 3.04% APY (3.82% APY for IRA/ESA)
- 2-year CD: 3.30% APY (4.08% APY for IRA/ESA)
- money market above $50k: 2.53% APY
Both the 1- and 2-year CDs have the same minimum deposits as the 3-year CD.
Membership in the Patrolmen’s Credit Union is limited to active and retired sworn personnel in the Chicago Police Department, civilian Police Department employees, and employees of the Chicago Office of Emergency Management Communications, as well as the immediate families of all those groups. The credit union has three locations, all in Chicago: 1359 W. Washington Boulevard, 2766 W. 111th Street and 5310 N. Harlem.
