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Consumers Credit Union CD rates review

Choose from 11 terms to find competitive interest rate options.’s rating: 4.8 / 5.0


Chicago-based Consumers Credit Union (CCU) offers 11 CD term options to its members with a low minimum deposit. You can earn up to APY, but you have to open a 20-month CD to get it.

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1-year APY


3-year APY


5-year APY


Star rate4.8
3-month APY0.35%
6-month APY0.50%
11-month APY2.80%
1-year APY0.85%
18-month APY0.90%
2-year APY0.95%
30-month APY1.00%
3-year APY1.05%
4-year APY1.10%
5-year APY1.35%
Early withdrawal penalty60 days interest for terms of 1 to 12 months
120 days interest for terms of 13 + months
Minimum deposit to open$250
Interest compoundingDaily

Review by

Heather Petty is a personal finance writer at Finder specializing in home loans, banking and insurance. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing has been featured on MSN, and, among others. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She holds a bachelor’s degree in English with a minor in journalism from the University of Nevada, Reno.

Expert review

Consumers Credit Union CD rates aren’t the best on the market, with APYs clocking in a full percent less – or more – than some of the top performers on the market. On the bright side, CCU does offer a whopping 11 terms to choose from, and you only need $250 to open the account. To compare, most CDs with similar rates require you to put in at least $500 to $1,000.

To open a CD, you need to become a Consumers Credit Union member and open up a savings account. It will run you $5 to become a member and while this sounds low, you aren’t exactly gaining a benefit like higher APYs for that membership cost.

As a quick example, the 1-year term with CCU earns an APY of 0.45%. Meanwhile Quontic, a bank with similarly lax requirements for deposits, offers a 1.75% APY on a 1-year term. Here’s a quick example of the potential difference in returns on a 1-year CD.

CCU: $10,000 deposit x 0.45% APY = $10,045
Quontic: $10,000 deposit x 1.75% APY = $10,175

That’s a $130 difference in favor of Quontic, without the need for a monthly fee. On the whole, CCU CDs aren’t the worst option out there but there are plenty of stronger choices.

How do I open a CD with Consumers Credit Union?

  1. Go to the provider’s site and follow the steps to apply.
  2. From the website, choose Open an Account and select Certificates of Deposit.
  3. Read and accept the requirements and disclosures, then choose Continue.
  4. Select the CD term you want and click or tap through the steps to enter your personal information.
  5. Upload a photo of your government-issued ID.
  6. Read and accept the agreements and disclosures.
  7. Choose how to fund your account.
  8. Review your information and submit your application.


To open a CD with Marcus by Goldman Sachs, you’ll need to meet the following requirements:

  • At least 18 years or older
  • $5 minimum membership share savings account to maintain credit union membership
  • US citizen or resident
  • No credit freezes currently on your credit report
  • $250 minimum deposit

Required information

Have the following information ready before you apply:

  • Valid Social Security number or taxpayer identification
  • Government-issued ID
  • Information and ID for any joint account holders
  • Funding information, such as your bank routing and account numbers for transfer or card number, expiration date and CVV code

Funding options

Use one of the following methods to fund your account:

  • ACH transfer
  • Credit or debit card

3 benefits of a Consumers Credit Union CD

CCU offers all the standard CD perks, such as a fixed APY for the life of the CD term, but also these additional benefits:

  1. Low minimum deposit. You can open a CD for as little as $250 and still get better-than-average interest rates.
  2. Competitive rates. Despite average CD rates hitting historic lows at 0.22% on 24-month CDs, CCU offers APY on a 20-month term CD, meets the average rate on several other terms and offers 1.1% on its four-year CD and 1.35% on its five-year CD.
  3. Interest compounded daily. Unlike Consumer Credit Union’s savings accounts, CCU compounds the interest on your CDs daily and deposits that interest monthly to help you reach your savings goals quicker.

2 potential drawbacks

Keep the following drawbacks in mind before you apply:

  1. Membership required. Because CCU is a credit union, you must maintain a savings account with a $5 minimum deposit to open a CD.
  2. Limited branch offices. If you’re more comfortable with in-person banking and live outside the Chicago area, this credit union may not be for you.

If you’re not interested in maintaining a second account or want more customer service options, explore other high yield CDs.

Compare with other CDs

Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Barclays Online CDs
Finder Rating: 4.5 / 5: ★★★★★
Barclays Online CDs
Get competitive rates on CD term lengths from 3 to 60 months. A reliable and secure way to see your money grow.
CIT Bank Term CDs
Finder Rating: 3.5 / 5: ★★★★★
CIT Bank Term CDs
Choose from a range of terms with no maintenance fees and $1,000 minimum to open.
Bread Savings CDs
Finder Rating: 3.8 / 5: ★★★★★
Bread Savings CDs
With a $1,500 minimum deposit, you'll receive competitive interest rates and no hidden fees with this CD. FDIC insured.
Quontic Bank CD
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CD
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less
SkyOne CD
SkyOne CD
$1 minimum deposit. 24/7 online access. Federally insured by NCUA.

Compare up to 4 providers

Consumers Credit Union CD reviews and complaints

There are a few recent customer reviews of Consumers Credit Union available through social media. The credit union has been accredited with the Better Business Bureau since 2012 and currently sports an A+ rating. The credit union has just 3 customer reviews on Trustpilot, earning them a 2.8 out of 5.

How do I cash out my Consumers Credit Union CD?

You have a 10-day grace period once your CD matures to choose one of the following options:

  • Do nothing. If you leave your CD untouched, your account will automatically renew for the same term at the current interest rate.
  • Partial withdrawal. You can remove funds from your CD account during the grace period with no penalty. As long as you leave at least the minimum amount, your account will automatically renew.
  • Change your term. You can choose to roll over your account into a CD with a different term.
  • Close your account. If you withdraw all of the funds from your account, the account will close.

How to contact Consumers Credit Union customer service?

You can reach CCU customer service on weekdays 8 a.m. to 6 p.m. and Saturdays 8 a.m. to 2 p.m., using one of the following methods:

  • Call 877-275-2288
  • Send a secure message through your online account
  • Live chat through the website
  • Send mail to 1075 Tri-State Parkway, #850, Gurnee, IL 60031

CDs ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

Read the full methodology of how we rate CDs.

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