Please note:

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.

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.

2.95% 1-year IRA CD at Washington Federal

Washington Federal Bank for Savings has a competitive IRA CD available: Their 1-year IRA CD is yielding 2.95% APY. This CD has a minimum of only $200, although it does require new money to the bank. For those looking for a traditional CD, Washington Federal is also offering an 11-month CD at a rate of 2.50% APY. That CD has a minimum of $1000 and also requires new money to the bank.

Washington Federal Bank has two locations, both in Chicago: 2869 S. Archer Ave. and 1410 W. Taylor St.

CDs up to 4.60% at Navy Federal

Navy Federal Credit Union has a number of interesting CDs available. Possibly the most interesting is their 4.60% APY, 30-month CD. This CD is available only as an IRA CD or a Coverdell ESA CD, and it has a minimum of $15,000. Navy Federal is also offering a 6-month CD that’s yielding 3.25% APY. This CD has a minimum of $10,000, although you can get a 6-month, 3.00% APY CD with a minimum of $100. Navy Federal is also offering a 1-year, 3.75% APY CD, although this CD has a few hitches: It has a maximum of only $5000, you can’t currently have a CD (of any term) with Navy Federal, and members age 18 or older must have a minimum direct deposit of $300 to a Navy Federal checking account prior to purchase and establish a monthly automatic deposit of at least $10 to the CD. Navy Federal has some good long-term traditional CDs as well: Their 5-year CD is yielding 3.85% APY for deposits over $20,000 (3.70% APY under $20k, 4.00% APY over $100k), and their 7-year CD is yielding 4.25% APY, also for deposits more than $20,000 (4.10% under $20k).

Navy Federal Credit Union is open to all active duty, reservist, and retired Navy and Marine Corps (and their families), as well as civilian Navy employees and contractors. There are two Navy Federal branches in Great Lakes — at the Naval Station Great Lakes (847-785-0551) and the Recruit Training Command (866-755-4682) — but Navy Federal’s website says to call first because “members who are not assigned to or do not work on these bases may not be able to visit an on-base branch offices or use an on-base ATM.”

(Hat tip to Bank Deals Blog.)

CDs up to 4.25% at Alliant Credit Union

Alliant Credit Union has a number of competitive CDs available:

12-23 months: 3.40% APY
24-35 months: 3.55% APY
36-47 months: 4.00% APY
48-60 months: 4.25% 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 3.00% (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.

59-month, up to 4.75% CD at Consumers Credit Union

We mentioned this last month, but we thought we’d bring it up again:Consumers Credit Union has a high CD available for those looking to protect their money long-term: a 59-month CD that’s yielding 4.50% APY. This CD has a low minimum of $250, but even better, if you put $100,000 into the CD, the rate goes up to 4.75%. The CD is also available as an IRA CD. The CD has a penalty of 120 days interest if closed early.

Previously, 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 Mundelein, Round Lake Beach, and Gurnee. They also have a new branch in Volo opening in 2009. 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.

CDs up to 4.50% at Alliant Credit Union

Alliant Credit Union has a number of very nice CD rates available:

12-23 months: 3.65% APY
24-35 months: 3.80% APY
36-47 months: 4.25% APY
48-60 months: 4.50% APY

These CDs all have a $25,000 minimum; however, you can get the CDs with a $1000 minimum, but with a 0.15% drop 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 3.25% and a checking account that yields 3.00% (with some restrictions).

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 5.25% at National City

National City Bank has a number of very good CDs available right now. The first rate listed is for customers who have an existing National City personal checking or savings account or who open a new personal checking account (except Free Checking) or a Money Market Savings account with $1,500. The rate in brackets is for customers who don’t meet those requirements.

18-month CD: 4.50% APY [4.00% APY]
24-month CD: 5.00% APY [4.75% APY]
36-month CD: 5.25% APY [5.00% APY]
48-month CD: 5.25% APY [5.00% APY]

The CDs also have a minimum deposit of $10,000 and a maximum deposit of $250,000 per household. The rates are also available for IRA CDs and Rollover IRA CDs. This deal is currently scheduled to last through November 1st.

National City has many branches throughout Chicagoland.

4.25% 1-year CD at Builders Bank

Builders Bank has a nice 12-month CD available: The CD is yielding 4.25% APY. This CD has a minimum deposit of $2500. The CD is also available as an IRA CD with a minimum of $500. The rate is expected to remain through tomorrow (October 23).

Builders Bank has two branches, both on North LaSalle Street in Chicago.

2-year, 4.60% APY CD at First Savings Bank of Hegewisch

First Savings Bank of Hegewisch has a very competitive mid-term CD: a 2-year CD that yields 4.60% APY. If you’re looking for a slightly shorter CD, FSB of Hegewisch has a 20-month CD yielding 4.50% APY. Both CDs have a $5000 minimum. The CDs area also available as traditional and Roth IRAs and Coverdell ESAs with an amazingly low $10 minimum.

First Savings Bank of Hegewisch has eight locations: Two in Chicago, and Calumet City, Frankfort, Lansing, Lynwood, Tinley Park, and Dyer, Ind.

(Hat tip to Bank Deals Blog.)

CDs up to 5% at Wheatland Bank

(Sorry about the lack of posts recently — I’ve been away from Internet access for the past couple weeks.)

Wheatland Bank has a number of good and very good CD rates:

3-month and 6-month CDs: 4.00% APY
12-month, 18-month, and 24-month CDs: 4.50% APY
3-year, 4-year, and 5-year CDs: 5.00% APY

All these CDs have a minimum of $2500, and all of them are available as IRA CDs. Wheatland also has some a very nice money market rate (3.50% APY above $2500) and checking account rate (3.00% APY above $2500).

Wheatland Bank has one location: 2244 95th Street in Naperville.

(Thanks to the reader who e-mailed me this deal.)

Chicago CD Rates

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

2-year 3.04% CD, 3-year 3.30% CD at Corporate America FCU

3-year, 4.08% CD (4.60% IRA/ESA) at Chicago Patrolmen’s Credit Union

CDs up to 4.40% at Credit Union 1

2.95% 1-year IRA CD at Washington Federal

CDs up to 4.60% at Navy Federal

CDs up to 4.25% at Alliant Credit Union

59-month, up to 4.75% CD at Consumers Credit Union

CDs up to 4.50% at Alliant Credit Union

CDs up to 5.25% at National City

4.25% 1-year CD at Builders Bank

2-year, 4.60% APY CD at First Savings Bank of Hegewisch

CDs up to 5% at Wheatland Bank

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