GREAT LAKES

P.O. BOX 1289
Bannockburn, IL 60015

 

2019 Overview

General Credit Union Information

NCUA Insured Yes
Charter Number # # 60238
Date Established 1938
Assets $881.39 million
Loans $659.57 million
Deposits $674.38 million
Capital $75.51 million

Great Lakes is an NCUA insured institution located in Bannockburn, IL. It was founded in 1938 and has approximately $881.39 millions in assets.

Who can join?

You are eligible to become a GLCU member if you live or work in Lake, McHenry, Cook Counties in Illinois and Kenosha, Milwaukee Counties in Wisconsin.

Field of Membership Restrictions

Membership in Great Lakes Credit Union is open to anyone through choosing the "Not Listed-Let us help!" option in the online application. Membership is also open to the following groups: (1) those who live or work in the Illinois counties of Cook (west of Route 83), Dupage, Kane, Kendal, Lake, McHenry, Will, and Kenosha County, Wisconsin, (2) Federal government employees, including active and retired military members, (3) employees of Select Employer Groups. Membership requirements are listed in the credit union's online application.

Deposit Rates - October 20, 2019

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Money Market
0.45% $2,500 $24,999 Learn MoreShow Less
Money Market
0.55% $25,000 $49,999 Learn MoreShow Less
Fixed IRA Rates APY MIN MAX
Fixed IRA
1.00% $1,000 - Learn MoreShow Less
Special: 13 Mo FIRA
1.45% $1,000 - Learn MoreShow Less
CD Rates (Share Certificate Rates) APY MIN MAX
1.00% $1,000 $99,999 Learn MoreShow Less
Special: 13 Mo CD
1.45% $1,000 - Learn MoreShow Less
24 Mo CD
1.20% $1,000 $99,999 Learn MoreShow Less
1.25% $1,000 $99,999 Learn MoreShow Less
1.30% $1,000 $99,999 Learn MoreShow Less
1.65% $1,000 $99,999 Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.20% $100 - Learn MoreShow Less
Checking Rates APY MIN FEE
Ultimate Checking 3.00% $0 $5.00 Learn MoreShow Less

Loan Rates - October 20, 2019

Your Current Location: Connecticut, CT 06828

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 2.99% 2.99% $726.92
4 Year 2.99% 2.99% $553.25
5 Year 3.24% 3.24% $451.89
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.



Branches

Below are Great Lakes branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Great Lakes Locations


Financial Details

Great Lakes Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Great Lakes. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.

Texas Ratio
Great Lakes U.S. Average
7.17% 5.86

The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.

As of June 30, 2019, Great Lakes had $5,711,336 in non-current loans and $194,866 in owned assets. To cover these potential losses it had $75,509,026 in net worth and $6,865,606 in loans loss reserves. That gives it a Texas Ratio of 7.17%.

Net Worth
Great Lakes U.S. Average
8.56% 13.65%

Great Lakes FCU has a net worth of 8.56% versus the BestCashCow average of 13.65. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

Frequently Asked Questions About Great Lakes

Branches and Savings

What is Great Lakes?

A federal credit union, registered with the NCUA under certificate #60238.
Learn more about credit unions here.

Is Great Lakes FDIC insured?

No, credit unions are not insured by the FDIC. They are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance.

Who can join Great Lakes?

Please see Field of Membership information above for information on who is eligible to join.

What are Great Lakes's share account and share certificate rates?

Great Lakes's deposit account rates are listed above.
You may find better online savings rates here or better local savings rates at banks or credit unions. Tables with the best CD rates are here.

How big is Great Lakes?

Great Lakes has total capital of $75.51 million. Full information on Great Lakes's financial position is located above.

Who owns Great Lakes?

Credit Unions are owned by their members.

Where are Great Lakes branches located?

See branch locations nearby.

Are Great Lakes ATMs Open 24/7?

Do Great Lakes ATMs accept cash deposits?

Can Great Lakes customers use other ATMs? What is the charge for withdrawing money from another ATM?

Does Great Lakes have a mobile app?

Does Great Lakes have mobile deposit?

Does Great Lakes have quick pay?

How can Great Lakes transfer money to other banks or credit unions?

Does Great Lakes report to credit bureaus?

Does Great Lakes use Chexsystems?

Does Great Lakes use Equifax?

What is Great Lakes's toll free phone number?

What is Great Lakes's ACH Routing Number?

What is Great Lakes's SWIFT code?

Where can I find Great Lakes's wire transfer form?

What is the Great Lakes address for deposits?

What Products Does Great Lakes Offer

Does Great Lakes offer mortgages?

Compare mortgage rates here.

Does Great Lakes offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Great Lakes offer auto and RV loans?

Compare auto loan rates here.

Does Great Lakes offer student loans or personal loans?

Compare personal loan rates here.

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