Consumers Credit Union’s suite of accounts

This Illinois credit union offers competitive banking products and other services to customers across the country.

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Consumers Credit Union

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Consumers Credit Union offers a wide range of deposit accounts, CDs and business accounts with competitive rates and fees. You can earn high interest rates even on a checking account, just be sure to watch out for high service fees.

What banking products does Consumers Credit Union offer?

Name Product APY ATMs Fee
5.09% on balances of $0 to $10,000
0.20% on balances of $10,000.01 to $25,000
0.10% on balances of $25,000.01 to
Over 30,000 ATMs and access to over 5,000 shared branches
$0
Earn a super high 3.09% APY on balances up to $10,000 if you receive eDocuments, make 12+ debit card purchases totaling $100+ and direct deposit $500+ each month. Earn 4.09% APY if you also spend $500+ on CCU's credit card, or 5.09% if you also spend $1,000+ on the credit card monthly.

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How do I join Consumers Credit Union?

In order to open any account at CCU, you’ll first need to become a member. Here’s how to join:

  1. Visit the IL branch or go to the CCU Website.
  2. Open a Membership Share Account and make a $5 payment to the Consumers Cooperative Association.
  3. Deposit and maintain a balance of at least $5 in your Membership Share Account.

What do I need to become a member of Consumers Credit Union?

To become a member, you’ll need to supply the following:

  • Name and date of birth
  • US address
  • Social Security number
  • Driver’s license or other state-issued ID
  • Contact information (Email and phone number)
  • $5 contribution to Consumers Credit Association

Why should I open an account at Consumers Credit Union?

This credit union operates nationwide with a handful of benefits that make it stand out from its competition:

  • ATM and branch network. Get free access to over 30,000 Co-Op ATMs and 5,000 shared branches.
  • Options. CCU offers a wide selection of consumer and business banking products that you might only expect from a much larger institution.
  • Fee reimbursements. Get unlimited fee reimbursements for ATM use as long as you make the required deposits and withdrawals for your account .
  • Low minimum deposits. Most accounts only require $5 minimum balance to become a member.
  • High APY on its checking account. CCU’s Rewards checking account offers up to 5.09% APY on balances up to $10,000. Most accounts only go as high as 2.5%.

What should I look out for?

While this institution offers a number of perks, there are still a few things you should watch out for:

  • Subpar rates. Besides its Rewards checking account, CCU’s savings accounts, money market accounts and certificates offer rates that start as low as 0.50%.
  • High service fees. Watch out for high service charges for things like overdrafts, replacement cards and incoming wire transfers.
  • Conditions and eligibility requirements. To earn advertised rates, you’ll need to meet account conditions and eligibility requirements, like making numerous debit card transactions and setting up monthly direct deposits.
  • Must be a member. You won’t be able to open an account unless you become a member of the credit union first.
  • Limited customer service. Customer service is only available during standard work hours during the week, plus limited hours on Saturday and no availability on Sunday.
  • How does Consumers Credit Union compare to leading banks?

    Consumers Credit Union is an Illinois-based credit union that was established in 1930 and aims to provide a more personal and secure alternative to traditional financial institutions. While it only has 10 official branches that are all located in Illinois, the credit union offers accounts to customers in every state.

    Name Product APY ATMs Fee
    No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
    $0
    A full-service account with convenient, surcharge-free access to two massive ATM networks.
    BBVA Premium Checking
    BBVA Premium Checking
    0.05%
    More than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
    $19/month
    (can be waived)
    A full-service interest checking account that offers automatic rebates of ATM fees.
    Access to 16,000 ATMs and nearly 5,000 branches nationwide
    $12/month
    (can be waived)
    Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 5,000 branches.
    0.01%
    38,000 fee-free ATMs nationwide
    $0
    Linked checking and savings accounts from a mobile-first bank that’s light on fees.
    1.25% on balances of $0+ with $1,000+ in direct deposits, 10 $3+ debit card transactions and 5 additional account transactions per month
    ATM fees reimbursed at any ATM nationwide
    $0
    Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
    1.00% on balances of $10,000+ or deposit $1+ each calendar month into any Aspiration cash management or investment account
    Free to use anywhere worldwide
    $0
    A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.

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    Name Product Interest rate (APY) Fee Minimum deposit to open
    1.90%
    $0
    $0
    Earn 20x the national savings account average with no fees or minimums.
    1.90%
    $0
    $0
    Enjoy no monthly fees and a competitive APY with this online-only savings account.
    2.10%
    $0
    $100
    A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
    0.01%
    $5 per month
    (can be waived)
    $0
    Get a $150 bonus when you open a new Chase Savings account, deposit a total of $10,000 or more in new money within 10 business days and maintain a $10,000 balance for 90 days.
    Betterment Everyday Savings
    Betterment Everyday Savings
    2.04%
    $0
    $10
    This savings account has no account and overdraft fees, plus it requires no minimum balance.
    2.15%
    $0
    $100
    Earn a competitive rate with a balance higher than $10,000.

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    Name Product Interest rate (APY) Fee Minimum deposit to open
    2.10%
    $0
    $100
    A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
    2.15%
    $10 per month
    (can be waived)
    $5,000
    Enjoy the security and earning potential of a savings account while maintaining the flexibility to write checks.
    1.90%
    $15 per month
    (can be waived)
    $25
    Earn one of the highest annual percentage yields (APYs) if you live in one of 42 eligible states, and access your money by ATM, check or bill pay.
    0.30%
    $25 per month
    (can be waived)
    $25,000
    This money market account includes an ATM card and a 24-hour overdraft grace period.
    1.85%
    $0
    $100
    A savings account with a higher-than-average rate and minimal fees.
    1.66%
    $0
    $5
    With no fees and a high interest rate, this account gives you plenty of incentive to save.

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    Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
    2%
    2.1%
    1.4%
    1.3%
    1.7%
    1.8%
    1.7%
    1.7%
    0.55%
    1.9%
    2%
    2.05%
    2.15%
    2.25%
    2.25%
    2.25%
    2.2%
    2.2%
    2.3%
    2.3%
    2.35%
    2.35%
    2.4%
    2.05%
    2.1%
    2.15%
    2.2%
    2.25%

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    Consumers Credit Union reviews and complaints

    Consumers Credit Union is a member of the NCUA which means that deposits are insured for up to $250,000. It’s not officially accredited on the BBB website but it holds a B+ rating and a 1.5 out of 5 customer review score. Complaints from customers mention things like billing and collection issues, inaccurate information and processing delays.

    Consumers Credit Union customer service

    here are a few ways you can get in touch with customer service:

    • Phone: 877-275-2228 Monday to Thursday 9 a.m. to 5 p.m., Friday 9 a.m. to 6 p.m. and Saturday 9 a.m. to 1 p.m. CST.
    • Live chat: Visit the Contact Us page on the CCU website
    • Secure message: Log into your online banking account to send a secure message

    Bottom line

    Consumers Credit Union is an Illinois-based credit union that serves the entire country with a wide range of deposit accounts and other banking products. It has low deposit requirements and almost no monthly fees.

    But you’ll need to become a member before opening an account, and watch out for the high service fees. Or find another account by comparing your bank and credit union options.

    Common questions about banking at Consumers Credit Union

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