ACH direct deposits or remotely deposited checks totaling at least $500 a month into any non-IRA checking account with the same primary ownerįor Holiday Savings Club accounts, the entire balance is transferred to another account held at CCU on or after November 1, but the account remains open.Maximum aggregate deposit amount of $1,000 per month, with no restriction on the total balance.If you don’t meet those requirements, the APY is 0.25%.

The Smart Saver account offers a higher APY of 1.50% if you meet certain requirements. To join CCU and take advantage of its products and services, you must open a Membership Share account. The Membership Share and Special Share accounts currently pay 0.05% APY, while the Holiday Savings Club pays 0.25% APY. Each requires a minimum initial deposit of $5 (which covers your membership fee). Account Basics SavingsĬCU offers four regular savings accounts: Membership Share, Special Share, Smart Saver and Holiday Savings Club. Here’s a look at CCU and how it compares with other financial institutions. This review focuses on CCU’s personal banking products and services. In 2019, CCU merged with Waukegan Municipal Employees Credit Union in Waukegan, Illinois.

In June 2020, CCU merged with Schaumburg, Illinois-based Andigo Credit Union, formerly known as Motorola Employees Credit Union. Two recent mergers have helped propel CCU’s growth. That means its membership rose by 39% in just nine months and its assets grew by more than 80%. By comparison, the credit union had 124,499 members and $1.33 billion in assets in December 2019. In September 2020, CCU reported $2.46 billion in assets and 173,354 members. The required membership in the Consumers Cooperative Association is available to all for a $5 membership fee. While it maintains branches only in Illinois, Consumers Credit Union (CCU) welcomes customers from throughout the nation. They are among the highest interest rates available for checking accounts in the U.S., although there are some strings attached. Perhaps the most notable aspect of Consumers Credit Union’s products is the APYs (annual percentage yields) for its rewards checking accounts. The credit union, founded in 1930, offers an array of products for consumers, including checking accounts, savings accounts, certificates (CDs), home loans, auto loans, credit cards, IRAs and business banking services. Consumers Credit Union, based in Gurnee, Illinois, operates 11 branches in the Chicago suburbs.

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