Great Lakes Credit Union
Headquarters
P.o. Box 1289
Bannockburn, IL 60015
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2024 Overview
General Credit Union Information
Great Lakes is an NCUA insured institution located in Bannockburn, IL. It was founded in 1938 and has approximately $1316.8 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.
| NCUA Insured | Yes / State-Chartered |
| Charter Number # | # 60238 |
| Date Established | 1938 |
| Assets | $1,316.80 million |
| Loans | $1,060.17 million |
| Deposits | $1,004.48 million |
| Capital | $119.72 million |
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 - April 19, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| SAV
|
0.05% | $100 | - |
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Money Market
|
0.05% | $2,500 | $9,999 |
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Money Market
|
0.10% | $10,000 | $24,999 |
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Money Market
|
0.10% | $25,000 | $49,999 |
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|
Premium Money Market Account
|
0.00% | $0 | $10,000 |
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Premium Money Market Account
|
0.50% | $10,000 | - |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 12 Mo CD
|
1.25% | $1,000 | - |
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| 12 Mo CD
|
1.55% | $100,000 | - |
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| 24 Mo CD
|
1.35% | $1,000 | - |
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| 24 Mo CD
|
1.65% | $100,000 | - |
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| 36 Mo CD
|
1.45% | $1,000 | - |
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| 36 Mo CD
|
1.75% | $100,000 | - |
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| 48 Mo CD
|
1.55% | $1,000 | - |
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| 48 Mo CD
|
1.85% | $100,000 | - |
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| 60 Mo CD
|
1.65% | $1,000 | - |
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| 60 Mo CD
|
1.95% | $100,000 | - |
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| Checking Rates | APY | MIN | FEE | |
|---|---|---|---|---|
| Free Checking + Debit Rewards | 5.00% | $0 | $5.00 | Learn More |
Loan Rates - April 19, 2024
Your Current Location: Ohio, OH 43085
| Home Equity Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| Line of Credit See Table |
5.75% | 5.75% | Varies | |
Compare with 7.49 RATE Line of Credit from Third Federal Savings and Loan
See All Home Equity Rates |
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| 10 Year Loan
See Table |
5.95% | 5.95% | $1,107.70 | |
| 15 Year Loan
See Table |
6.20% | 6.20% | $854.70 | |
| 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 | |
|---|---|---|---|---|
| 15 Year Fixed Conforming See Amortization Table |
6.97% | 6.88% | $2,853.93 | |
| 15 Year Fixed Jumbo See Amortization Table |
6.92% | 6.88% | $2,853.93 | |
| 20 Year Fixed Conforming See Amortization Table |
7.20% | 7.13% | $2,505.02 | |
| 30 Year Fixed Conforming See Amortization Table |
7.18% | 7.13% | $2,155.90 | |
| 30 Year Fixed Jumbo See Amortization Table |
7.27% | 7.25% | $2,182.96 |
| Purchase Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 15 Year Fixed Conforming See Amortization Table |
6.97% | 6.88% | $2,853.93 | |
| 15 Year Fixed Jumbo See Amortization Table |
6.92% | 6.88% | $2,853.93 | |
| 20 Year Fixed Conforming See Amortization Table |
7.20% | 7.13% | $2,505.02 | |
| 30 Year Fixed Conforming See Amortization Table |
7.18% | 7.13% | $2,155.90 | |
Compare with 7.350% APR and 7.250% 30-Year Fixed RATE from Rocket Mortgage
See All Mortgage Rates |
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| 30 Year Fixed Jumbo See Amortization Table |
7.27% | 7.25% | $2,182.96 | |
|
Compare with 7.350% APR and 7.250% 30-Year Fixed RATE from Rocket Mortgage
See All Mortgage Rates |
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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:
Columbus,Ohio
Climate Policy and Initiatives
GREAT LAKES is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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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 |
|---|---|
| 6.57% | 6.97 |
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 December 31, 2023, Great Lakes had $8,050,224 in non-current loans and $2 in owned assets. To cover these potential losses it had $119,720,037 in net worth and $2,810,513 in loans loss reserves. That gives it a Texas Ratio of 6.57%.
Net Worth
| Great Lakes | U.S. Average |
|---|---|
| 9.05% | 13.62% |
Great Lakes FCU has a net worth of 9.05% versus the BestCashCow average of 13.62. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Great Lakes
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