Competitive Rates for Consumers Credit Union CD Special, 4.00% for 16-month Term
Consumers Credit Union has a range of certificates with competitive yields. This includes a 59-month term which yields 5.05% APY, 22-month special at 4.25% APY (best CD rates), and 4% gain for the 16-month program. The certificates require a minimum deposit of $250 and are also available as IRAs.
Clients who opt for a Jumbo certificate can get an additional 25 basis points or 5.30% APY for deposits of at least $100000.
The program also imposes lower than usual early withdrawal penalties. It takes 120 days of interest for terms longer than 1 year. This is significantly lower than other banks which impose a 180-day penalty.
Interested individuals can start off their membership by enlisting for a Consumers Cooperative Association. A minimal joining fee of $5 is required in addition to the $5 minimum balance requirement for a share savings account.
Inquiries are entertained by their offices located in Volo, Gurnee, Round Lake Beach, Mundelen, and Waukegan in Illinois.
The Consumers Credit Union has recently switched to NCUA with charter # 68588 from a private insurer. Bankrate.com gives the credit union 3 stars.
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