Consumers Credit Union Review (2025)

— Review updated Nov 2025

Written by Ricardo Laizo

- Nov 11, 2025

Reviewed by Sam Onelia

Consumers Credit Union stands out for its exceptional deposit rates and competitive loan offerings, particularly their industry-leading 5.00% APY checking account.

While their digital services excel, the complex requirements for best rates and limited branch network are considerations.

For tech-savvy members seeking high yields and nationwide access, CCU offers tremendous value with strong service backing.

Read the full review

Consumers Credit Union At glance

Popularity

49

The popularity score indicates the percentage of customers choosing this company the last 90 days.

Customer Experience

90

Loan applicants generally report positive experiences with competitive rates, though some complain about documentation requirements and processing delays.

Company name

Consumers Credit Union

Website

https://www.myconsumers.org/

Pricing

80

Competitive loan rates across various products, with personal and auto loans featuring rates below many traditional banks. No hidden fees, but origination fees are standard rather than exceptionally low.

Customer Support

70

Response times appear average (typically within 3-5 business days). Support is generally helpful but some customers report challenges when resolving complex issues.

Terms and Flexibility

80

Clear terms with easily accessible rate information on their website. As a credit union, they offer member-focused policies with reasonable flexibility, though some loan modification options may have restrictions and only members can apply for loans.

Pros & Cons

  • Competitive Interest Rates: As a credit union, the creditor typically offers lower interest rates on loans compared to traditional banks, potentially saving members money over the life of their loans, particularly for auto loans and mortgages.

  • Diverse Loan Products: They provide a wide range of loan options including auto loans, mortgages, home equity loans, personal loans, and credit cards, giving members flexibility to meet various financing needs.

  • First-Time Homebuyer Programs: Consumers Credit Union offers specialized "Smart Start" mortgage programs designed specifically for first-time homebuyers or those who haven't owned a home in the last three years, with potentially more favorable terms.

  • Personalized Service: As a member-owned institution, Consumers Credit Union emphasizes personalized lending approaches, with loan officers who work with members individually to find the best financing solutions for their specific situations.

  • Streamlined Application Process: The credit union offers online pre-qualification for many loan products, including auto loans, allowing members to review potential financing terms before making purchase decisions, with a simple application process.

  • Membership Requirement: To access Consumers Credit Union's loan products, you must first become a member of the credit union, which involves an eligibility check and potentially a small membership fee, adding an extra step compared to standard loans.

  • Best Rates Reserved for Newest Collateral: For auto loans specifically, the lowest advertised rates are typically only available for newer vehicles (2023 models or newer) with shorter loan terms (60 months or less).

  • Limited Geographic Presence: Consumers Credit Union has a more limited physical branch network compared to national banks, which may affect the loan application and servicing experience for members who prefer in-person interactions.

Details

Consumer Credit Union Personal Loan

Terms & fees

Loan amount$500 - $25,000
Term1 year - 5 years
Annual interest rate8.99% - 24.79%
Origination fee$0
Monthly fees$0

Requirements

Minimum age18
Minimum income$0
National bank requiredNo
National phone number requiredNo
Citizenship requiredYes
Electronic identificationYes

Features

Cosigner possibleNo
Revocation periodNo
Accept bad credit historyYes
Weekend payoutNo
Loan extensionsNo
Early paybackYes
Payment within 24 hoursNo
Loan brokerNo
Interest free loanNo

Additional fields

Payment hoursAlways Open
High approval rateNo
Recommended companyYes
Get started

Consumers Credit Union (CCU) is a member-owned financial institution founded in 1930 and headquartered in Illinois. As one of the largest credit unions in the state, with over $3.5 billion in assets and 232,000+ members, CCU offers a wide range of banking products and services to meet members financial needs.

How We Rate Consumers Credit Union

At Financer, all lenders go through a thorough research and review process. Here's how we rate Consumers Credit Union:

CategoryRating
Affordability⭐⭐⭐⭐⭐
Application process⭐⭐⭐⭐
CCU Loans terms⭐⭐⭐⭐
CDs profitability⭐⭐
High Yield Savings⭐
Transparency⭐⭐⭐⭐⭐
Customer support⭐⭐⭐⭐
Overall⭐⭐⭐⭐

Do We Recommend Consumers Credit Union?

Yes, we recommend Consumers Credit Union as a reliable financial institution. Skip to our full review below and see in details the Consumers Credit Union review.

Consumers Credit Union Overview

We already know that CCU is one of the oldests financial institution in the U.S., serving their members with a wide range of products and services. To learn more about Consumers Credit Union, explore the key information below.

CharacteristicConsumers Credit Union
Year of foundation1930
HeadquartersGurnee, IL
Total Assets$3.5 billion+
Members232,000+
Branches15 in Illinois
ServesNationwide
ATM Access30,000+ surcharge-free ATMs nationwide
Mobile App Rating4.1/5 stars (Apple & Android)
Membership EligibilityOpen to anyone in the U.S.
Yield Checkin AccountProfitability up to 5% APY
Auto LoansRates as low as 4.99%. Terms up to 84 months
Personal LoansRates from 11.74% to 24.79% APR. Terms from 6 months to 7 years
MortgagesUp to $4 million. Rates as low as 6.268% APR
NCUA InsuredYes

Pros and Cons of CCU

Pros

  • High-yield checking account: Earn up to 5.00% APY with qualifying activities

  • Nationwide membership: Anyone in the U.S. can join

  • Large ATM network: Access to 30,000+ surcharge-free ATMs

  • Competitive loan rates: Low rates on auto loans, mortgages, personal loans

  • No monthly fees: Free checking and savings accounts available

Cons

  • Limited physical branches: Only 15 locations, all in Illinois

  • High balance requirements: Need $10,000+ balance for best checking APY

  • Complex rewards structure: Multiple requirements to earn highest APY

Overall, CCU offers attractive rates and nationwide accessibility, but has a limited branch network and complex account requirements. If you like this scenario, open an account and enjoy the good side of Consumers Credit Union features.

Open an account now

CCU Loans

Consumers Credit Union provides a variety of loan options to meet different borrowing needs. Let's explore CCU loan offerings in more detail.

Auto Loans

Consumers Credit Union auto loans offers competitive rates:

  • Rates as low as 4.99% APR for new cars (2023 models and newer)

  • Terms up to 84 months available

  • 100% financing for qualified buyers

  • 0.50% rate discount when using CCU's car buying service

  • No prepayment penalties

The low rates and flexible terms make Consumers Credit Union auto loans an attractive option for car buyers. According to recent data, the average auto loan rate nationwide is over 7% APR, so Consumers Credit Union auto loan rates are very competitive.

Open an account and take an auto loan

Personal Loans

Consumers Credit Union's personal loans offer flexible funding for various needs:

  • Fixed rates from 11.74% to 24.79% APR

  • Loan amounts up to $40,000

  • Terms from 6 months to 7 years

  • No origination fees or prepayment penalties

  • Same-day funding often available

While the rates are higher than secured loans, like auto loans, CCU's personal loan rates are lower than many credit cards, making them a good option for debt consolidation or large purchases.

Open an account and take a personal loan

Home Loans

CCU provides several mortgage options:

  • Fixed-rate mortgages: 10, 15, 20, and 30-year terms

  • Adjustable-rate mortgages (ARMs): 5/1 and 5/5 options

  • Jumbo loans up to $4 million

  • Low down payment options starting at 3%

  • No PMI options available

  • Refinancing available

Current Consumers Credit Union mortgage rates start as low as 6.268% APR for a 5/1 ARM. This is competitive with national average rates reported by Freddie Mac.

Open an account and take a mortgage

Other Loan Types

  • Home equity loans and lines of credit

  • Commercial real estate loans

  • RV and motorcycle loans

  • Credit cards

CCU's diverse loan portfolio allows members to finance a wide range of purchases and projects. The credit union's competitive rates and flexible terms make it worth considering for your borrowing needs.

In conclusion, Consumers Credit Union offers attractive rates on deposits and loans, nationwide accessibility, and a full suite of banking products.

CCU Banking Services

Okay, now you know Consumers Credit Union's credit scenario. But CCU isn't just about loans - they offer a full suite of banking products to meet your financial needs. From high-yield checking to retirement accounts, CCU aims to be a one-stop shop for your money. Let's break down their main offerings:

Bank Accounts

At Consumers Credit Union, you've got options. Let's break down the different types of accounts they offer, so you can find the perfect fit for your financial needs.

Free Rewards Checking

This is Consumers Credit Union's star player in the checking account game. With a profitability up to 5.00% APY, which is one of the highest checking account yields nationwide, it glows when we talk about checking accounts.

Pros

  • Earn up to 5.00% APY (that’s Annual Percentage Yield, folks)

  • No monthly fees

  • Get paid up to two days early with direct deposit

  • Unlimited ATM fee reimbursements

Cons

  • Need to meet specific requirements to earn the highest APY

  • $5,000+ balance needed for best rates

Student Choice Checking

Pros

  • No monthly fees

  • ATM fee reimbursements up to $25 per month

  • Debit card with $310 daily limit

Cons

  • Must convert to a standard account at age 19

  • Parent/guardian must be joint account holder

Money Market Account

For those who want a bit more earning power than a regular savings account, the Money Market offers profitability up to 4.13% APY on balances over $100,000.

Pros

  • Higher interest rates than standard savings

  • Easy access to funds

  • Tiered rates for higher balances

Cons

  • Typically requires a higher minimum balance

  • May have transaction limits

Smart Saver Account

A nifty tool to boost your savings game. Here, profitability goes up to 3.00% APY, limited to $1,000 each month. But you need to met some requirements to achieve this level.

Pros

  • Earn 3.00% APY with qualifying activities

  • Automated transfers make saving easy

  • No minimum balance required

Cons

  • Monthly deposit limit of $1,000

  • Need a CCU checking account for best rate

Health Savings Account (HSA)

A tax-advantaged account for medical expenses. Profitability offers competitive monthly dividends, plus tax advantages. The best option to create a saving for your health.

Pros

  • Tax-deductible contributions

  • Tax-free withdrawals for qualified medical expenses

  • No account fees

Cons

  • Must have a high-deductible health plan to qualify

  • Penalties for non-medical withdrawals before age 65

Certificates (CDs)

For when you want to lock in a rate for a set period. The profitability for 9-month Consumers Credit Union CD rates is 4.50% APY. Obivously, you'll have penalties for early withdrawal, though.

Pros

  • Higher rates than standard savings accounts

  • Guaranteed returns

  • Various term options available

Cons

  • Funds are locked for the term length

  • Early withdrawal penalties

CCU's diverse account offerings cater to different financial needs and goals. Whether you're a student learning to manage money, a saver looking for high yields, or someone planning for future medical expenses, there's likely an account that fits your situation.

Credit Cards

CCU offers Visa credit cards with some attractive perks:

  • Visa Signature Cash Back: Earn 3-2-1 cash back on purchases

  • Visa Signature Rewards: Earn 3-2-1 points on purchases

  • Visa Platinum Rewards: Earn points on all purchases

  • Visa Platinum: A basic, low-rate option

Investment Services

Through a partnership with LPL Financial, CCU offers:

  • Retirement planning (IRAs, 401(k) rollovers)

  • Mutual funds

  • Stocks and bonds

  • Annuities

  • Life insurance

Other Services

  • Mobile banking: Highly-rated app for account management on-the-go

  • Online bill pay: Free service for checking account holders

  • Zelle: Fast, free money transfers to friends and family

  • Shared branching: Access your accounts at over 5,600 credit union locations nationwide

  • ATM access: Use over 30,000 surcharge-free ATMs across the country

CCU's diverse product lineup allows members to handle most financial needs in one place. Their high-yield checking account and nationwide accessibility through shared branching are particularly noteworthy features that set them apart from many local credit unions.

Open an account now

Interest Rates for CCU Products

Now that we've covered Concumer Credit Union's overview, let's put all their key rates in one place so you can easily compare. Here's a handy table showing current interest rates for CCU's main products:

ProductInterest Rate/APY
Free Rewards CheckingUp to 5.00% APY
Certificates (9-month)4.50% APY
Smart Saver Account3.00% APY
Money Market AccountUp to 4.13% APY
Auto LoansAs low as 4.99% APR
Personal Loans11.74% - 24.79% APR
Mortgage (30-year fixed)6.875% APR
Home Equity Line of CreditAs low as 5.49% APR (intro rate)
Visa Credit Cards13.95% - 27.24% APR

As you can see, CCU offers some competitive rates across their product line. Their checking account yield is particularly impressive, though it does require meeting certain criteria. Auto loan rates are also quite low compared to national averages.

One of the best choices

Consumers Credit Union's Free Rewards Checking offers one of the highest checking account yields nationwide at up to 5.00% APY.

Open your account and enjoy this profitability

CCU Membership Requirements

Ready to join the Consumers Credit Union family? Great choice! CCU offers a ton of perks, from high-yield checking accounts to competitive loan rates. But first, let's break down what you need to become a member.

Here are the main requirements:

  • Open to anyone: Unlike some credit unions, CCU doesn't limit membership based on where you live or work.

  • One-time fee: Pay a $5 membership fee to join the Consumers Cooperative Association.

  • Minimum deposit: Keep at least $5 in a Membership Share/Savings Account.

  • Valid ID: You'll need a government-issued photo ID (like a driver's license or passport).

  • Social Security Number: Provide your SSN or Individual Taxpayer Identification Number (ITIN).

That's it! Pretty simple, right? Now, let's walk through the steps to open your account.

How to Open Your CCU Account

Choose your account

Decide which account type fits your needs best. The Free Rewards Checking is a popular choice with its high APY.

Make your application

Have your ID and SSN/ITIN ready. Then, visit CCU’s website to start your application. It’s a simple process that you can make in a few minutes.

Fund your account

Make your initial deposit (remember, at least $5 for the savings account). And don’t forget that $5 fee to join the Cooperative Association.

Start Banking

Once approved, register for digital banking to manage your account easily. Now, enjoy all CCU’s features in your daily business.

Features of the CCU Mobile App

In today's fast-paced world, having a solid mobile banking app is crucial. CCU's mobile app doesn't disappoint, offering a range of features to make managing your money a breeze.

Here are the standout features:

  • Account management: View balances, transfer funds, and pay bills all from your phone.

  • Mobile check deposit: Snap a photo of your check to deposit it instantly.

  • Zelle integration: Send and receive money quickly with this popular payment service.

  • Card controls: Easily manage your debit and credit cards, including the ability to freeze/unfreeze them.

  • Fingerprint and facial recognition: Log in securely without typing your password.

  • ATM locator: Find nearby ATMs and shared branches.

  • Account alerts: Set up custom notifications for transactions and balance thresholds.

  • Budgeting tools: Track your spending and set financial goals.

The Consumers Credit Union Mobile App has received solid ratings from users. On the Apple App Store, it boasts a 4.8 out of 5-star rating, while on Google Play, it maintains a respectable 4.1 out of 5 stars.

Open an account now and enjoy CCU Mobile App

Remember, a great mobile app is just one part of the Consumers Credit Union package. Combined with their competitive rates and member-focused approach, it's clear why so many people are choosing Consumers Credit Union for their banking needs.

CCU Customer Service

When it comes to banking, good customer service can make or break your experience. Let's take a look at what Consumers Credit Union members are saying about Consumers Credit Union customer service.

Many members praise CCU for their attentive and helpful staff. Besides, they maintain an A+ rating with the Better Business Bureau, suggesting a strong commitment to addressing customer concerns.

However, like any financial institution, CCU isn't without its critics. Some members have reported issues with account management and loan processes.

It's worth noting that Consumers Credit Union offers 24/7 customer support through live chat, which is a big plus for those who need assistance outside of regular business hours. They also provide phone support on weekdays from 8 a.m. to 6 p.m. CT and Saturdays from 8 a.m. to 2 p.m. CT.

Overall, while CCU seems to deliver good customer service for many members, experiences can vary. It's always a good idea to reach out to Consumers Credit Union customer service team directly if you have specific questions or concerns before becoming a member.

Is CCU Right for You?

In this Consumers Credit Union review, we've covered a lot of ground about Consumers Credit Union, from their competitive rates to their diverse product offerings. Let's recap the key points:

CCU offers a range of financial products, including high-yield checking accounts, certificates, CCU loans, such as personal loans, auto loans, and mortgages. Their Free Rewards Checking account, with potential APY up to 5.00%, is particularly noteworthy.

They provide nationwide accessibility through online and mobile banking, shared branching, and a large ATM network. This makes CCU a viable option even if you don't live near one of their physical branches in Illinois.

CCU's loan rates, especially for auto loans, are competitive compared to national averages. They also offer flexible terms and quick approval processes for many of their loan products.

So, who might find CCU to be a good fit?

  • High-yield seekers: If you're looking to maximize your checking account earnings and don't mind meeting certain requirements, Consumers Credit Union's Free Rewards Checking could be perfect for you.

  • Tech-savvy bankers: With a highly-rated mobile app and comprehensive online banking services, CCU caters well to those who prefer digital banking.

  • Auto loan shoppers: Consumers Credit Union's competitive auto loan rates and flexible terms make them a strong contender for car buyers or those looking to refinance.

  • Those who value personalized service: As a credit union, CCU often provides more personalized service than large banks. This can be particularly beneficial for those seeking mortgages or personal loans.

However, CCU might not be the best fit if you prefer in-person banking and don't live near their branches in Illinois. Also, if you're not comfortable with technology or don't want to meet certain requirements for the best rates, you might want to explore other options.

Start your CCU membership today

Consumers Credit Union FAQs

What Is Consumers Credit Union and How Does It Differ From Traditional Banks?

Consumers Credit Union (CCU) is a member-owned financial cooperative founded in 1930. Unlike traditional banks, CCU is not-for-profit and returns earnings to members through better rates and lower fees.

With over $3.5 billion in assets and 232,000+ members, CCU offers a wide range of financial products nationwide. Its Free Rewards Checking account can earn up to 5.00% APY, significantly higher than most traditional banks.

How Do I Become a Member of Consumers Credit Union?

Joining CCU is open to anyone in the U.S. To become a member, you need to pay a one-time $5 fee to join the Consumers Cooperative Association and deposit at least $5 in a Membership Share/Savings Account.

You'll need a government-issued photo ID and your Social Security Number or ITIN. The entire process can be completed online in minutes, making it easy for anyone to join regardless of location.

How Many ATMs Does Consumers Credit Union Have Access To?

CCU members have access to an extensive network of surcharge-free ATMs. Through partnerships with the CO-OP Network and other credit union alliances, CCU offers access to over 30,000 surcharge-free ATMs nationwide.

This network includes ATMs at popular locations like 7-Eleven, Walgreens, and Costco. Additionally, CCU reimburses ATM fees when certain account requirements are met, effectively expanding access to even more ATMs.

Is Consumers Credit Union FDIC Insured?

Consumers Credit Union is not FDIC insured, as it's not a bank. However, CCU accounts are federally insured by the National Credit Union Administration (NCUA), a U.S. government agency.

The NCUA provides the same level of protection as FDIC insurance, covering up to $250,000 per depositor. This insurance ensures that your funds are safe and secure, just as they would be in an FDIC-insured bank.

How to Contact Consumers Credit Union Customer Service?

CCU offers multiple ways to contact customer service. You can reach them by phone at 877-275-2228, available Monday-Friday 8 am to 6 pm CT and Saturday 8 am to 2 pm CT. For 24/7 support, CCU provides live chat through their website and mobile app.

They also offer email support and have 15 branch locations in Illinois for in-person assistance. CCU's commitment to customer service is reflected in their A+ rating from the Better Business Bureau.

How Secure Is Consumers Credit Union Online Banking?

CCU employs robust security measures for online banking. They use 128-bit encryption for all online transactions and implement multi-factor authentication to prevent unauthorized access. CCU's mobile app features biometric login options like fingerprint and facial recognition.

The credit union also provides real-time fraud monitoring and instant alerts for suspicious activities. CCU's mobile app is highly rated, with 4.8 stars on the Apple App Store and 4.1 stars on Google Play, indicating user satisfaction with its security and functionality.

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