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
Consumers Credit Union Rewards Checking
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.

Compare Consumers’ checking to others

Name Product APY ATMs Fee
M&T Bank EZChoice Checking
Over 1,500 M&T Bank ATMs
$0
Get $150 if you open an EZChoice M&T checking account by March 2, 2020, and make qualifying direct deposits totaling at least $500 within 90 days of account opening.
M&T Bank MyChoice Premium Checking
M&T Bank MyChoice Premium Checking
0.05% on balances of $100,000+
0.03% on balances of $50,000 to $99,999.99
0.01% on balances of $1 to $49,999.99
Over 1,500 free M&T Bank ATMs and up to $2 rebates when using all other ATMs
$24.95/month
(can be waived)
Get up to $250 if you open a MyChoice Premium M&T checking account by March 2, 2020, and make qualifying direct deposits totaling at least $500 within 90 days of account opening.
Chase Sapphire Checking
0.01%
Free to use anywhere worldwide
$25/month
(can be waived)
Get a $1000 welcome bonus when you join Sapphire Banking by March 06, 2020. Within 45 days of joining, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes any J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days.
BBVA Online Checking
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.
Axos Bank Rewards Checking
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.
Axos Bank Essential Checking
ATM fees reimbursed at any ATM nationwide
$0
No fees. Unlimited domestic ATM fee reimbursements.
HSBC Advance Checking
0.01% on balances of $5+
Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York
$25/month
(can be waived)
Earn 2% cash back on qualifying direct deposits (up to $30 per month and $350 total during the first 12 months) with a new HSBC Advance Checking account. Offer ends March 1, 2020. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
TD Beyond Checking
0.05% on balances of $50,000+
0.03% on balances of $10,000 to $49,999.99
0.01% on balances of $0.01 to $9,999.99
1,900 ATMs across the country and Canada
$25/month
(can be waived)
A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.

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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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