Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Consumers Credit Union CD review

Choose from 11 terms to find competitive interest rate options.’s rating: 4.1 / 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 0.7% APY, but you have to open a 20-month CD to get it.

No reviews yet. Write a review


1-year APY


3-year APY


5-year APY


Minimum deposit to open$250
Interest compoundingDaily
3-month APY0.35%
6-month APY0.4%
9-month APY0.55%
1-year APY0.45%
18-month APY0.45%
2-year APY0.5%
30-month APY0.55%
3-year APY0.6%
4-year APY0.65%
5-year APY0.7%
Early withdrawal penalty60 days interest for terms of 1 to 12 months
120 days interest for terms of 13 + months

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 are competitive depending on the term you decide to go with. To take advantage of its highest yield at 0.7% APY, consider opening the 20-month CD. Plus, you only need $250 to open it. To compare, most CDs with competitive rates require you to put in at least $500 to $1,000.

But to open a CD, you need to become a Consumers Credit Union member and open up a savings account. On the bright side, you only need $5 to become a member, so it may be worth it if you’re looking for a competitive CD rate.

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

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:

  • Low minimum deposit. You can open a CD for as little as $250 and still get better-than-average interest rates.
  • Competitive rates. Despite average CD rates hitting historic lows at 0.22% on 24-month CDs, CCU offers 0.7% APY on a 20-month term CD, meets the average rate on several other terms and offers 0.65% on its four-year CD and 0.7% on its five-year CD.
  • 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.

What to watch out for

Keep the following drawbacks in mind before you apply:

  • Membership required. Because CCU is a credit union, you must maintain a savings account with a $5 minimum deposit to open a CD.
  • 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 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
Quontic Bank CD
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less
Radius Bank CDs
Enjoy a low minimum deposit of $500 and earn 0.5% APY on your balance. Apply online for 1 year, 18 month and 3 year terms.
CIT Bank Term CDs
Choose from a range of terms with no maintenance fees and $1,000 minimum to open.
Discover CDs
Start saving with $2,500 and enjoy flexible terms from 3 months to 10 years with no account fees.

Compare up to 4 providers

Funding options

Use one of the following methods to fund your account:

  • ACH transfer
  • Credit or debit card

How do I cash in 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

What other savings products does Consumers Credit Union offer?

CCU offers the following savings products, all of which have interest that compounds and credits to your account monthly.

Personal accounts
  • Membership Share savings account. This is the account that houses your $5 membership share, which is also the minimum deposit to open the account.
  • Smart Saver account. Earn up to 1.5% APY if you already have a CCU checking account and direct deposit at least $500 into checking and deposit at least $50 into your savings account monthly. If you don’t meet those requirements, your interest rate drops to 0.25%.
  • Money Market account. An account with tiered rates that lets you earn 0.15% on balances less than $25,000, 0.25% on balances from $25,000 to $100,000 and 0.35% on balances of $100,000 or more.
  • IRA savings account. CCU offers accounts to work with Traditional, Roth and Educational IRAs with a guaranteed yield and a $10 minimum deposit.
  • IRA Money Market account. Offers the same tiered interest rates as the regular money market savings account, but works with Traditional, Roth and Educational IRAs. This account has a $2,000 minimum deposit to earn interest.
  • Holiday Club savings account. Designed to help you save for the holiday season with direct deposit and automatic transfer options, you can earn up to 0.25% APY, and the money automatically deposits into your Membership Share account on November 1. This account automatically renews every year until you close it.
Business accounts
  • Business savings. This account is the business equivalent of the Membership Share account. You open the account with $5 to secure your membership and earn 0.5% interest on any amount over that $5.
  • Business Money Market account. Allows you to have all the benefits of a money market account and earn 0.25% interest on any balance over $500.
  • High Yield Business Money Market account. You can earn 0.75% interest on all amounts over $100,000.

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.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site