The Consumers Credit Union invites members to take advantage of their top cd rates given for their special certificate of deposit programs. A 16-month deal earns 2.75% APY while the 59-month scheme yields 3.50% APY. A 9 month CD is also being offered at a competitive rate of 2.50% APY.

These highest CD rates can be enjoyed for a minimum deposit of $250 and can be invested through a regular CD or as an IRA. The earnings are compounded on a daily basis and credited monthly.

The Consumers Credit Union offer a very competitive deal with a lower than usual penalties for early withdrawal. They are only imposing 120 days of earnings as early withdrawal penalty while other banks usually take 180 days of gains.

Membership to the credit union can be done by signing up for the Consumers Cooperative Association with only a $5 fee. They also require a $5 share savings deposit.

An online application can be completed for both the association and credit union membership. New account holders will be able to fund the account through an ACH transfer. You can contact the credit union in case you have any trouble with the online application like some readers have reported.

Consumers Credit Union has offices spread across Illinois specifically in Volo, Gurnee, Round Lake Beach, Mundelein, and Waukegan.

The union recently joined the NCUA for its coverage through charter # 68588. Bankrate.com tagged their review of the performance with 3 stars.