Chicago CD Rates

1.05%, 14-month CD at Integra Bank

mdprins — Wed, 20 Apr 2011 13:42:05 +0000

Integra Bank has a relatively competitive shorter-term CD available: a 14-month CD that yields 1.05% APY. This certificate, as well as their other CDs, has a minimum deposit of $500. Integra Bank also has two other somewhat competitive CDs that they are offering: a 2-year CD returning 1.35% APY, and a 5-year CD that yields 2.25% APY. Integra also has an “easy access” 14-month CD that’s yielding 0.95% APY, but there aren’t a lot of details on what the “easy access” part of this certificate actually is.

Integra Bank has over 50 branches, including 12 in Illinois: two each in Mt. Vernon and Plainfield, and one each in Bridgeview, Brookport, Carmi, Elizabethtown, Golconda, Mokena, Shawneetown, and Vienna.

18-month, 1.35% CD at Lakeside Bank

mdprins — Wed, 13 Apr 2011 13:39:05 +0000

There’s really not much in Chicagoland CDs that’s competitive under two years, but this one isn’t too bad: Lakeside Bank has an 18-month CD that’s yielding 1.35% APY. The CD has a $2500 minimum, and the money must be new to Lakeside Bank. Unfortunately, to get this rate, you also have to have a “qualifying…deposit account”; without it, the rate drops down to 1.10% APY.

Lakeside Bank has six locations, all of them in the city of Chicago.

3-year, 2% “Kids CD” at BCU

mdprins — Thu, 07 Apr 2011 13:29:25 +0000

BCU (Baxter Credit Union) has a unique CD offering: a 3-year “kids CD” that’s yielding 2.00% APY. Of course, being a special certificate, there are some restrictions: The person who is first on the account must be 18 years old or younger, and their social security number must be the one on the account. And after 3 years, the CD will renew into a normal 3-year certificate unless you tell them otherwise. The CD also has a maximum deposit of only $25,000 per child, although on the plus side, the minimum deposit is only $50.

BCU is open to anyone who lives in Lake County (Illinois), DuPage County, McHenry County, Kane County, Cook County north of Route 58, the city of Schaumburg, or Kenosha County in Wisconsin. The best that I can tell, there are six area branches of BCU, listed below for your convenience:

415 South Main, Crystal Lake
Lake Cook Road and Saunders Road, Deerfield
400 North Field Drive, Lake Forest
1485 Waukegan Road, McGaw Park
West Belvidere Road and North Wilson Road, Round Lake
340 North Milwaukee Avenue, Vernon Hills

1.56% Health Savings Accounts at Corporate America Family Credit Union

mdprins — Wed, 16 Mar 2011 14:04:00 +0000

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.

13-month, 1.05% and 25-month, 1.25% CDs at Bank of Pontiac

mdprins — Wed, 09 Mar 2011 14:39:53 +0000

If you’re in the far southwest suburbs of Chicago, these competitive rates might be worth considering: Bank of Pontiac has a 13-month CD yielding 1.05% APY and a 25-month CD returning 1.25% APY. These CDs both have a minimum deposit of $500. The 13-month CD has a 3-month penalty for closing the account early, and the 25-month CD has a 6-month penalty. If you are a “FunTimer” (age 50 or older; have an “Interest/FunTimer checking” account; maintain a combined deposit relationship of at least $2,500 at Bank of Pontiac), those rates go up by .10%

Bank of Pontiac has five locations: Two in Pontiac, two in Dwight, and one in Odell.

Competitive CDs in various terms at AA Credit Union

mdprins — Wed, 02 Mar 2011 14:34:58 +0000

AA (American Airlines) Credit Union has a number of extremely competitive mid-term and long-term CDs:

1-year CD: 1.26% APY
2-year CD: 1.76% APY
30-month CD: 2.02% APY
3-year CD: 2.27% APY
4-year CD: 2.42% APY
5-year CD: 2.88% APY

These CDs all have a $10,000 minimum, although they’re also available with a $1000 minimum if you’re willing to take 0.05%-0.10% off of the rate. Their penalty for early withdrawal is 6 months’ interest on 1-to-3-year CDs, and 1 year’s interest on 4- and 5-year CDs. AACU tends to change their rates only once a month, so these rates may be good through all of March; no promises, however.

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.

15-month Prime Index Account at Foster Bank

mdprins — Mon, 28 Feb 2011 14:08:40 +0000

If you think that the prime rate is going up over the next 15 months, you might want to consider the 15-month Prime Index Account at Foster Bank. This account is essentially like a CD, but rather than having a constant rate over the term, the rate is actually indexed to 30% of the Prime Rate. Right now the prime rate is 3.25%, so the account is yielding 0.975%. Not exactly gangbusters right now, but if you believe that the Prime Rate is on an upward trajectory in the near future, it’s something to consider. The account has a $25,000 minimum.

Foster Bank has eight locations, seven which are in Chicagoland: two in Chicago, two in Niles, and one each in Lincolnshire, Arlington Heights, and Naperville.

CDs up to 2.50% at Mutual Federal Bank

mdprins — Mon, 31 Jan 2011 14:38:13 +0000

Mutual Federal Bank has a number of competitive CDs available:

3-year certificate: 2.00% APY
4-year certificate: 2.25% APY
5-year certificate: 2.50% APY

The CDs have a minimum deposit of $500 and a maximum deposit of $90,000. The CDs are also available as traditional IRA or Roth IRA CDs at the same rates.

Mutual Federal Bank has two branches: 2212 W. Cermak in Chicago and 2695 Forgue Dr. in Naperville. The Naperville branch is called Great American Bank.

5-year, 2.70% CD at BCU

mdprins — Mon, 06 Dec 2010 15:02:53 +0000

BCU (Baxter Credit Union) has a very competitive long-term CD available: a 5-year CD that’s yielding 2.70% APY. This CD is their “Rewards” CD, and in order to get this APY you must either have direct deposit of at least $500 per month into their checking account, have a qualifying loan in good standing, or have at least $25,000 on deposit. As I read it, a CD with a $25,000 deposit might qualify for this rate, but you’d have to double-check with BCU to make sure. Without the “rewards” aspect, the CD still has a respectable rate of 2.45% APY.

415 South Main, Crystal Lake
Lake Cook Road and Saunders Road, Deerfield
400 North Field Drive, Lake Forest
1485 Waukegan Road, McGaw Park
West Belvidere Road and North Wilson Road, Round Lake
340 North Milwaukee Avenue, Vernon Hills

59-month CD at Consumers Credit Union up to 2.75%

mdprins — Mon, 29 Nov 2010 14:53:11 +0000

Consumers Credit Union has a relatively high long-term CD available: Their 59-month CD is yielding 2.50% APY. This CD has a minimum deposit of $250. Even better, their jumbo 59-month CD (minimum deposit of $100,000) has an APY of 2.75%. These are really their only competitive CDs: Consumer CU’s 4-year CDs are at 1.10% APY, and it only gets lower from there.

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.