Consumers Credit Union Rewards Checking account review

How do I open a Consumers Credit Union Rewards Checking account?

You can open the Consumers Credit Union Rewards checking account online in minutes:

1. Select Apply now.
2. From the Consumers Credit Union (MI) website, click Open an Account and Free Rewards Checking Application.
3. Sign up as a new member or log in if you already have an account.
4. Select Rewards Checking under Checking Accounts, then click Next.
5. Enter your personal information and click Next.
6. Review or change your account selections and click Confirm.
7. Upload pictures of your supporting documents and click Next.
8. Accept the account agreements and disclosures.
9. Agree to tax ID terms, then click Next.
10. Fund your account and Submit your application.

Compare Consumers Credit Union Rewards Checking to similar accounts

We gathered a quick comparison of similar accounts to help you decide if Consumers Credit Union Rewards Checking is right for you. For more options, select “Compare accounts” to compare even more accounts for your spending needs.

We gathered a quick comparison of Consumers Credit Union Rewards Checking and similar accounts to help you decide which one is best for you. To keep looking, select “Compare accounts” to compare even more checking accounts.

Consumers Credit Union Rewards Checking	HSBC Premier Checking	Chime Spending account
★★★★★ Finder rating 4 / 5	★★★★★ Finder rating 2.7 / 5	★★★★★ Finder rating 4.7 / 5
Go to site on Consumers Credit Union (IL)'s secure site	Go to site on HSBC's secure site	Go to site on Chime's secure site
Fee $0	Fee $50 per month (can be waived)	Fee $0
APY 4.09% 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+	APY 0.01% on balances of $5+	APY N/A
Minimum deposit to open $5	Minimum deposit to open $0	Minimum deposit to open $0

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What are the benefits of the Consumers Credit Union Rewards Checking account?

This NCUA-insured checking account comes packed with useful features and benefits:

• Highest APY. Earn as much as 4.09% APY on up to $10,000 when you meet the requirements.
• $0 monthly fees. You’ll pay $0 monthly fees to keep this account open.
• ATM fee reimbursements. Get reimbursed for any and all ATM fees when you meet the requirements.
• $5 balance requirements. There are no opening deposit or ongoing balance requirements.
• Large branch and ATM network. Unlike most credit unions, CCU has a network of over 30,000 ATMs and access to over 5,000 shared branches.

Consumers Credit Union ATM network and fees

This account comes with a Visa debit card with chip technology, allowing you to shop securely almost anywhere. Consumers Credit Union has over 30,000 ATMs and 5,000 shared branches. But if you need to visit an out-of-network ATM or branch, any and all fees will be reimbursed.

What should I look out for?

While this account is one of the strongest checking options available right now, there are a few things you should watch out for:

• Maximum balance on APY. You’ll only earn the advertised APY on balances up to $10,000. Beyond that, you get 0.2% on balances between $10,000.01 and $25,000, and 0.1% on balances above $25,000.01. The strict requirements may not be worth it since the rate drops significantly on balances above $10,000.01.
• Fee reimbursement requirements. In order to get reimbursed for ATM fees, you’ll need to meet the requirements to earn 3.09% APY.
• Mandatory membership. While anyone can join CCU, you’ll need to go through the application process, pay a one-time $5 fee to Consumers Cooperative Association, then deposit and maintain a minimum $5 in your Membership Share/Savings Account.
• High service charges. Watch out for the $30 overdraft charge, $10 overdraft transfer fee, $5 card replacement fee, $10 incoming wire transfer fee and other service charges.
• Limited customer service hours. Customer service is only available during standard business hours during the week, limited hours Saturday and closed Sunday.

If you prefer a high-interest rewards account that can hold more than $10,000, you’ll want to keep looking. As always, compare your options when looking for a checking account.

How much do I need to open the Consumers Credit Union Rewards checking account?

You can open this account with $5, but you’ll need to become a member of the credit union by purchasing and holding one $5 share.

How do I deposit or withdraw money?

There are several ways to deposit or withdraw funds from your Consumers Credit Union Rewards checking account:

How do I contact Consumers Credit Union customer service?

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

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

Frequently asked questions

• How do I join Consumers Credit Union?

  Visit a branch, apply by phone or sign up online. Provide your personal information, make a one-time donation to the partner institution, then deposit and hold at least $5 in your account.

• How do I close my Consumers Credit Union account?

  In order to close your account, you’ll need to go online to get the account closure form, speak to a representative by phone or visit a branch.

• What is the Consumers Credit Union routing number?

  The Consumers Credit Union routing number is 271989950.

• Can I open this account if I’m not a US citizen?

  Yes. Citizens of Mexico and U.S Permanent Aliens can open an account at a branch or by phone with a Consular ID, original ITIN letter, Resident Alien Card, Social Security number and a current utility bill. Additional documents may be required.

• Does Consumers Credit Union offer any other checking accounts?

  Yes. It also offers the Student Choice Checking account.