Consumers Credit Union Earns National Recognition For Rewards Checking

Waukegan, IL, June 20, 2017: Consumers Credit Union (CCU; $1.1 Billion, Waukegan, IL) was recognized by both NerdWallet and Wallethub for product excellence. Wallethub named CCU's Rewards Checking the "Best Online Checking Account" available nationwide, while NerdWallet said CCU had the best interest rate for credit union checking products nationwide. Consumers Credit Union has nine Service Centers in northern Illinois to go along with the Member-owned credit union's robust online presence.

"We are very proud to earn this recognition," remarked Dave Valentine, CCU's Vice President of Marketing and Sales. "In a market primarily dominated by large commercial banks, it is exciting that a not-for-profit credit union is providing the best online checking account and offering one of the highest yields nationwide."

To determine its ratings, Wallethub compared more than 50 of the most popular online checking accounts nationwide. Their conclusions were based on rates, fees and features, as well as their ability to meet the needs of an average consumer. As for Nerdwallet, they had this to say about CCU's Rewards Checking Account: "It's great when a financial institution offers a checking account that doesn't have a monthly fee. But Consumers Credit Union goes a step further with its free checking account by offering an annual percentage yield. Users who meet certain requirements can earn an APY between 3.09% and 4.59% on balances of up to $20,000."

When asked why the credit union created its award-winning checking product (first introduced in 2007), Valentine said, "There were two main reasons. Like all credit unions, our goal is to provide the best possible value to our Members. We have Members earning more than $75.00 in dividends per month; that's an extreme value, especially in today's low rate environment. Secondly, because anyone can join CCU, we designed our Free Rewards Checking for convenient, nationwide access, including services such as mobile deposit, text banking, ATM fee refunds, debit cards, bill pay and more. By encouraging the use of cost-effective service options, we are able to pay these rich rewards."

While there are some conditions that must be met to earn the awards, qualifying is quite easy. According to Valentine, most Members satisfy the qualifiers with very little effort. "In today's world, most Members with a checking account are already enrolled in Online Banking, have a direct deposit or pay some bills online, prefer eStatements and use their Debit Card 12 or more times each month. By also using their CCU VISA credit card, they can earn an even higher interest rate."

For more information about the awards, please visit wallethub.com and nerdwallet.com. For more information about Consumers Credit Union, go to www.myconsumers.org. CCU is Member-owned, with offices in Waukegan, Mundelein, Round Lake Beach, Gurnee, North Waukegan, Volo, Palatine, Schaumburg and Northbrook, Illinois.