Unlock the benefits of Central Credit Union membership.
Join online or at one of our branches. We’re ready to help you reach your financial goals!
Bank On The Difference.
- Increase your savings
- Free educational resources
- Lower your borrowing costs and fees
- Prompt, professional and personalized service
To join and take advantage of the money-saving benefits of credit union membership, you must…
- Live in the state of Illinois or
- Work for one of our more than 250 affiliated companies or organizations or
- Be a family member of an existing member
Maintain at least a $25 balance in your Share Account, and retain your membership for life regardless of where you live or work.
Our continuing mission is to further the financial well-being of our members by:
- Increasing your savings
- Lowering your borrowing costs
- Reducing your fee expense
- Providing you with free educational resources
- Giving you the prompt, personalized and professional service you deserve.
- Once you join, your membership is valid for life regardless of where you live or work as long as you maintain a balance of at least $25 in your Share Account. And, once you become a member, your family members also become eligible for membership.
We’re a not-for-profit institution owned by our members. So when you join, you become more than a member, you also become a part owner of the institution.
Banks exist to make a profit for their stockholders. Unlike a bank, we don’t have stockholders. Because you become an owner when you join the credit union, you benefit financially when the credit union prospers. What’s more, you can always feel secure knowing that we’re working in your best financial interest.
When you join the credit union, the money you deposit represents your share of ownership. That money is loaned to other members – including your family members, friends and coworkers – to help them achieve their financial goals.
The credit union earns income from loan interest. After we pay operating expenses and set aside reserves, remaining income is returned to you through higher-paying dividends, lower loan rates and reduced fees.
Use this calculator to determine your projected earnings from our Kasasa Cash account. Move the sliders or type in the numbers to see your potential rewards.
- Estimated Annual Rewards $0
- Estimated monthly dividends earned* $0
- Monthly ATM fees refunded**$0
This calculator compares the costs of buying or leasing a vehicle. There are three sections to complete, and you can adjust and experiment with different scenarios.
- Net cost of buying $0
- Net cost of leasing $0
A fixed-rate, fixed-term CD can earn higher returns than a standard savings account. Use this calculator to get an estimate of your earnings. Move the sliders or type in numbers to get started.
- Total value at maturity $0
- Total dividends earned $0
- Annual Percentage Yield (APY)0.000%
Whether it's a down payment, college, a dream vacation...a savings plan can help you reach your goal. Use the sliders to experiment based on length of time and amount per month.
- Monthly deposit needed to reach goal $0
This calculator can help you get a general idea of monthly payments to expect for a simple loan. Move the sliders or type in numbers to get started.
- Estimated monthly payment $0
- Total paid $0
- Total interest paid $0
Checking Accounts
These are the prospective dividend rates on your accounts and the anticipated annual percentage yields (APY) for the current dividend period. The dividend rate and annual percentage yields may change every month as determined by the Credit Union Board of Directors.
| Account Type | Rate | APY |
|---|---|---|
| Kasasa Cash® (Up to $25,000)* | 5.3660% | {global-free-kasasa-cash-rate-upper}% |
| Kasasa Cash® ($25,000.01+)* | 0.4989% | {global-free-kasasa-cash-rate-upper}% - {global-free-kasasa-cash-rate-lower}% |
| Kasasa Saver® (Non-Qualifying)* | 0.0499% | {global-free-kasasa-cash-rate-nonqual}% |
Checking Account Disclosure
*CENTRAL CREDIT UNION OF ILLINOIS
KASASA REWARD CHECKING ACCOUNTS
TRUTH IN SAVINGS ACT DISCLOSURE
This disclosure contains the terms, conditions and rules associated with opening and maintaining your chosen Kasasa account as of May 13, 2024.
OVERVIEW OF KASASA ACCOUNTS:
- Cash Back Reward Account: The following account provides “cash back” rewards:
- Kasasa Cash Back: A free, variable-reward checking account with no minimum balance requirement that rewards accountholders with nationwide ATM withdrawal fee refunds and cash back on their debit card purchases when they meet minimum qualifications during the account's Monthly Qualification Cycle. - Dividend Reward Accounts: The following accounts provide “dividend” rewards:
- Kasasa Cash: A free variable-rate checking account with no minimum balance requirement that rewards accountholders with nationwide ATM withdrawal fee refunds and high dividends when they meet minimum qualifications during the account's Monthly Qualification Cycle.
- Kasasa Saver: A free, variable-rate, savings account with no minimum balance requirement that rewards accountholders with dividends when they meet the minimum qualifications associated with their linked Kasasa checking account during each Monthly Qualification Cycle. In addition, rewards earned in your linked Kasasa checking account are automatically added to your Kasasa Saver Account to help you save.
Collectively, Kasasa Cash and Kasasa Cash Back, may be referred to, in singular or plural form, as “Kasasa checking” account(s) within this disclosure.
PURPOSE AND EXPECTED USE OF ACCOUNT:
Account Expectations: Our institution expects the accountholder to use their selected Kasasa account as their primary checking account in which payroll transactions and day-to-day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining, sporting, and entertainment transactions are posted and settled. Commensurate with these spending activities, we expect the account's debit card to be used frequently throughout the entirety of each month and for transaction amounts to reflect a wide dollar range.
Examples of Inappropriate Use: Small debit card transactions conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal, day-to-day spending behavior. For example, five debit card transactions, each for a dollar, conducted at a convenience store, two days before the end of the cycle would not be considered by our institution as normal, day-to-day spending behavior. These types of transactions, and other activities that appear to be conducted with the sole purpose of qualifying for the account's rewards, will be deemed inappropriate transactions and may not count toward earning the account's rewards. Accountholders who persist in making debit card transactions in a calculated and limited fashion in order to meet their monthly qualifications may have their accounts converted to a different checking account or closed altogether.
Our Rights: Our institution has the right to close this account at any time, with proper notice. We also reserve the right to analyze your account activity to determine: (a) if the account is being maintained for a purpose other than day-to-day primary use; (b) if debit card activities are being executed solely for the purpose of earning the account's rewards and (c) if another account might better serve your banking needs and activities.
Ramifications of Account Closure: Our decision to close the account will not affect your existing obligations to us including any obligation to pay fees or charges incurred prior to termination. No deposits will be accepted, and no checks will be paid after the account is closed. If the account is closed, you will forfeit any rewards that have not been credited to your account. A check from our institution for the remaining balance, if applicable, will be mailed to accountholder at the address indicated on our current records. Upon termination of your Kasasa account, any optional add-on products/services associated with this account will also be terminated at the same time.
If, for whatever reason, your Kasasa Cash Back or Kasasa Cash Account is closed, your linked Kasasa Saver Account will also be closed. If, for whatever reason, your Kasasa Saver Account is closed, then only the appropriate Kasasa Cash Back and Kasasa Cash information within this disclosure will apply.
QUALIFICATION INFORMATION:
To earn your Kasasa rewards, the following enrollments must be in place and all transactions and activities must post and settle to your selected Kasasa checking account during each Monthly Qualification Cycle:
Qualifications
ACH/direct deposit or $500 or more: Kasasa Cash (1); Kasasa Cash Back (1)
Debit card purchases of $5.00 or more: Kasasa Cash (12); Kasasa Cash Back (12)
E-statement enrollment: Kasasa Cash (Yes); Kasasa Cash Back (Yes)
In order to count as a qualifying transaction for the purpose of earning the account's rewards, debit card purchases must each be at least $5.00. Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account's rewards.
The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit card purchases processed by merchants and received by our institution as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our credit union. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.
"Monthly Qualification Cycle" means a period beginning one (1) day prior to the first banking day of the current statement cycle through one (1) day prior to the last banking day of the current statement cycle.
“Statement Cycle" means the period of time for which our institution provides a summary of the financial activities and transactions that post and settle to the accountholder's account.
Contact Member Services for specific Monthly Qualification Cycle and Statement Cycle dates.
REWARD INFORMATION:
Depending on what Kasasa account you have chosen, when your chosen Kasasa checking account qualifications are met during a Monthly Qualification Cycle, you will receive the associated account rewards shown below. For complete clarity, you will only receive the rewards associated with your chosen account(s):
Nationwide ATM Withdrawal Fee Reimbursements:
Each time your chosen Kasasa checking account qualifications are met during a Monthly Qualification Cycle, you will receive reimbursements up to an aggregate total of $25 for nationwide ATM withdrawal fees incurred within your chosen Kasasa checking account during that Monthly Qualification Cycle. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction. NOTE: ATM withdrawal fee reimbursements only apply to your chosen Kasasa checking account ATM transactions. ATM withdrawal fees are not reimbursed nor refunded for any Kasasa Saver Account ATM transactions.
When your chosen Kasasa checking account qualifications are not met during a Monthly Qualification Cycle, nationwide ATM withdrawal fees are not refunded.
Nationwide ATM withdrawal fees will be credited to your chosen Kasasa checking account on last day of the current statement cycle. If, however, you have a Kasasa Cash Back Account that is linked to a Kasasa Saver Account, your nationwide ATM withdrawal fees will be credited to your Kasasa Saver Account on the last day of the current statement cycle.
Kasasa Cash Back Rewards:
If you have chosen Kasasa Cash Back as your primary checking account, in addition to receiving the nationwide ATM withdrawal fee reimbursements articulated above, when your Kasasa Cash Back Account’s qualifications are met during a Monthly Qualification Cycle, you will also receive 5.50% cash back on up to a total of $200 debit card purchases that post and settle to your Kasasa Cash Back Account during that cycle period. A maximum of $11.00 in cash back payments may be earned per Monthly Qualification Cycle.
When your Kasasa Cash Back Account qualifications are not met, no cash back payments are made.
Cash back payments will be credited to your Kasasa Cash Back account on the last day of the current statement cycle if your account is not linked to a Kasasa Saver Account. If your Kasasa Cash Back Account is linked to a Kasasa Saver Account, your account’s rewards will be credited directly to your Kasasa Saver Account on the last day of the current statement cycle.
Kasasa Cash Rewards:
When Your Kasasa Cash Account Is Not Linked To A Kasasa Saver Account:
If you have chosen Kasasa Cash as your primary checking account, and your Kasasa Cash Account is not linked to a Kasasa Saver Account, in addition to receiving the nationwide ATM withdrawal fee reimbursements articulated above, when your Kasasa Cash Account’s qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $25,000 in your Kasasa Cash account earn a dividend rate of 5.3660% resulting in an APY of {global-free-kasasa-cash-rate-upper}%; and daily balances over $25,000 earn a dividend rate of 0.4989%, resulting in a range from {global-free-kasasa-cash-rate-upper}% to {global-free-kasasa-cash-rate-lower}% APY depending on the account's daily balance.
When your Kasasa Cash Account qualifications are not met, the entire daily balance in the account earns a dividend rate of 0.0499% resulting in an annual percentage yield of {global-free-kasasa-cash-rate-nonqual}%.
Dividends will be credited to your Kasasa Cash Account on the last day of the current statement cycle.
When Your Kasasa Cash Account Is Linked To A Kasasa Saver Account:
If you have chosen Kasasa Cash as your primary checking account and your Kasasa Cash Account is linked to a Kasasa Saver Account, in addition to receiving the nationwide ATM withdrawal fee reimbursements articulated above, when your Kasasa Cash Account’s qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $25,000 in your Kasasa Cash account earn a dividend rate of 5.3660% resulting in a non-compounding APY* of {global-free-kasasa-cash-rate-upper}%; and daily balances over $25,000 earn a dividend rate of 0.4989%, resulting in a non-compounding range from {global-free-kasasa-cash-rate-upper}% to {global-free-kasasa-cash-rate-lower}% APY depending on the account's daily balance.
When your Kasasa Cash Account qualifications are not met, the entire daily balance in the account earns a dividend rate of 0.0499% resulting in a non-compounding annual percentage yield of {global-free-kasasa-cash-rate-nonqual}%.
Dividends will be credited to your Kasasa Cash account on the last day of the current statement cycle.
*When linked to a Kasasa Saver Account, dividends in your chosen Kasasa Cash Account do not compound because they are automatically transferred to the Kasasa Saver Account within one day. Note: Automatic transfer may cause an overdraft to your chosen Kasasa Cash Account if the account's balance is less than the transferred amount when transfer occurs.
Kasasa Saver Account Rewards:
When your linked Kasasa checking account’s qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $100,000 in your Kasasa Saver Account earn a dividend rate of 1.9819% resulting in an APY of {global-free-kasasa-saver-rate-upper}%; and daily balances over $100,000 earn a dividend rate of 0.4989%, resulting in a range from {global-free-kasasa-saver-rate-upper}% to {global-free-kasasa-saver-rate-low}% APY depending on the account's daily balance.
When your chosen Kasasa checking account’s qualifications are not met, the entire daily balance in the Kasasa Saver Account earns a dividend rate of 0.0499% resulting in an annual percentage yield of {global-free-kasasa-saver-rate-nonqual}%.
Dividends will be credited to your Kasasa Saver Account on the last day of the current statement cycle.
APY = Annual Percentage Yield. Kasasa checking accounts and Kasasa Saver rates, rewards, and bonuses, if any, are variable and may change after account is opened and without notice to you. No minimum balance is required to earn the account's rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings. If your chosen account(s) is closed before its rewards are credited, you will forfeit the account(s)’ rewards.
DIVIDEND & ANNUAL PERCENTAGE YIELD INFORMATION (Applies to Kasasa Cash & Kasasa Saver)
Compounding & Crediting:
Dividends will be compounded on a daily basis*. Note: Dividends do not compound in your Kasasa Cash Account if it is linked to a Kasasa Saver Account because they are transferred to the linked Kasasa Saver Account within one day. Dividends will be credited to your Kasasa Cash and your Kasasa Saver Account on the last day of the current statement cycle. If you close your account before the dividends are credited, you will not receive the accrued dividends. Dividends begin to accrue on the business day you deposit cash or non cash items (e.g. checks) to your account.
Our business days are Monday through Friday, except Credit Union holidays.
"Statement Cycle" means the period of time for which our institution provides a summary of the financial activities and transactions that post and settle to the accountholder's account. Please contact Member Services for specific Statement Cycle dates.
Balance Computation Method:
Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
Dividend Rate & Annual Percentage Yield:
Kasasa Cash and Kasasa Saver are variable-rate accounts. The dividend rate and annual percentage yield may change. The dividend rate is determined at our discretion, and we may change the dividend rate on your Kasasa Cash and Kasasa Saver Account at any time, without any limitations, and without notice to you.
Our current dividend rates and APYs for our Kasasa Cash and our Kasasa Saver Accounts are shown above in the Reward Information section of this disclosure.
APY = Annual Percentage Yield. APY calculations are based on an assumed balance of $125,000 in your Kasasa Cash Account, an assumed balance of $200,000 in your Kasasa Saver Account and an assumed statement cycle of thirty-one (31) days.
GOVERNING LAW
Unless otherwise specified herein, this Disclosure shall be governed, construed, and interpreted in accordance with the laws of the State of Illinois. If there is a conflict between this Governing Law section and any other agreement related to your account, this Governing Law section shall control with respect to the provisions herein.
ADDITIONAL INFORMATION
Membership restrictions may apply. Account approval, conditions, qualifications, limits, timeframes, enrollments and other requirements apply. A parent or legal guardian must be a joint owner on the account if you are under 18 years old. No minimum deposit is required to open a Kasasa Cash Back Account. No minimum deposit is required to open a Kasasa Cash Account. No minimum deposit required to open the Kasasa Saver Account. You may make an unlimited number of deposits in your account(s). See accompanying Rate and Fee Schedule rates, fees and charges that may apply to these accounts. Enrollment in electronic services (e.g. online banking, e-statements) is required to meet some of your chosen checking account's qualifications. Limit of one Kasasa checking account per taxpayer identification number. Limit of one Kasasa Saver Account per taxpayer identification number. There are no recurring monthly maintenance charges or any fees to open or close these accounts. If your Kasasa account is closed, you will forfeit any rewards that have not been credited to that Kasasa account. Contact Member Services for additional information, details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions. Federally insured by NCUA.
Kasasa, Kasasa Cash Back, Kasasa Cash and Kasasa Saver are trademarks of Kasasa, Ltd., registered in the U.S.A.
Fixed-Rate Home Equity Loans
| Account Type | Rate | APR |
|---|---|---|
| $25,000 or more | 60 Months | As low as {global-mortgage-rate-lower}% |
| $25,000 or more | 84 Months | As low as {global-mortgage-rate-lower}% |
| $25,000 or more | 120 Months | As low as 7.39% |
Disclosure
Loans are repayable in equal monthly installments over the term of the loan. 10-year term availability dependent on availability of designated long-term funds. Example: Monthly payment on a $25,000 loan at {global-mortgage-rate-lower}% APR for 60 months is $494.87. Total finance charge: $4,692.12. Total loan cost: $29,692.12. Listed rates are for qualified members who borrow up to 80% of their homes’ equity. Amount financed is subject to credit and property approval. Homeowner's insurance is required.
Interest-Only Home Equity Lines of Credit
| Account Type | Rate | APR |
|---|---|---|
| $99,000 or more | n/a | As low as Prime plus .25% |
| $50,000 to $98,999 | n/a | Prime plus .50% |
| $25,000 to $49,999 | n/a | Prime plus 1.00% |
| $5,000 to $24,999 | n/a | Prime plus 1.75% |
Disclosure
Rate can change on the first of each month and is based on the Prime Rate as published in the Wall Street Journal. On 12/19/24, the Prime Rate was 7.50%. Rate determined by available line of credit as low as the following: $99,000 or more, Prime plus .25%; $50,000-$98,999, Prime plus .50%; $25,000-$49,999, Prime plus 1.00%; $5,000-$24,999, Prime plus 1.75%. Listed rates are for qualified members who borrow up to 80% of their homes’ equity. Amount financed is subject to credit and property approval. Homeowner's insurance is required. Maximum APR: 18%. Minimum APR as low as 3.99%. Initial advance of at least $5,000 is required at the time of loan disbursement. Subsequent advances must be at least $500. Minimum monthly payment during principal balance plus interest repayment period is $120. A $50 annual fee is waived the first year and then becomes effective for the remaining nine years of the draw period. If you close your line of credit within two years of its opening, you will be required to reimburse the credit union for certain third party fees up to a maximum of $500.
Kasasa Cash*
| Balance | Minimum Opening Deposit | Rate | APY |
|---|---|---|---|
| 0 - $15,000 | $x | 0.00% | 0.00% |
| $15,000+ | $x | 0.00% | 0.00% |
| All balances if qualifications not met | $x | 0.00% | 0.00% |
Qualifications
xx
Kasasa Saver*
| Balance | Minimum Opening Deposit | Rate | APY |
|---|---|---|---|
| 0 - $15,000 | $x | 0.00% | 0.00% |
| $15,000+ | $x | 0.00% | 0.00% |
| All balances if qualifications not met | $x | 0.00% | 0.00% |
Qualifications
xx
Money Market Accounts
These are the prospective dividend rates on your accounts and the anticipated annual percentage yields (APY) for the current dividend period. The dividend rate and annual percentage yields may change every month as determined by the Credit Union Board of Directors.
| Account Type | Rate | APY |
|---|---|---|
| Money Market Account* | {global-market-rate-ira}% | 0.15% |
| Market Rate IRA** | {global-market-rate-ira}% | 0.15% |
| Smart-Saver Money Market*** | {global-smart-saver-ira}% | 2.25% |
| Smart-Saver Money Market IRA**** | {global-smart-saver-ira}% | 2.25% |
| Investor's Choice Account***** | {global-investors-choice-ira}% | 2.75% |
| Investor's Choice IRA Account****** | {global-investors-choice-ira}% | 2.75% |
Money Market Disclosures
*You must maintain a $1,000 minimum daily balance to earn the stated APY. Dividends on this account are compounded daily and credited monthly. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
**Dividends on this account are compounded daily and credited monthly. Withdrawals from this account are governed by Internal Revenue Service (IRS) regulations. Market Rate IRAs may be opened as traditional, Roth or Coverdell Education Savings Accounts. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
***You must maintain a $10,000 minimum daily balance to earn the stated APY. Dividends on these accounts are compounded daily and credited monthly. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
****You must maintain a $10,000 minimum daily balance to earn the stated APY. Dividends on these accounts are compounded daily and credited monthly. Withdrawals from the Smart-Saver Money Market IRA are governed by Internal Revenue Service (IRS) regulations. Smart-Saver Money Market IRAs may be opened as traditional or Roth IRAs. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
*****You must maintain a $25,000 minimum daily balance to earn the stated APY. Dividends on these accounts are compounded daily and credited monthly. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
******You must maintain a $25,000 minimum daily balance to earn the stated APY. Dividends on these accounts are compounded daily and credited monthly. Withdrawals from the Investor's Choice IRA Account are governed by Internal Revenue Service (IRS) regulations. Investor's Choice IRA Accounts may be opened as traditional or Roth IRAs. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
Mortgages
In addition to the mortgage products listed below, the credit union also offers mortgages for purchases including 30-year fixed-rate mortgages. Rates on these products are subject to change daily. For more information regarding long-term mortgages including current rates, please click here. For more information about our short-term mortgages, click here.
Real Estate Fees
| Type of Fee | Fees |
|---|---|
| Modification Fee For Closed-End Real Estate Loans | $250 |
| Subordination Fee | $200 |
Savings Accounts
These are the prospective dividend rates on your accounts and the anticipated annual percentage yields (APY) for the current dividend period. The dividend rates and annual percentage yields may change every quarter (for My Club Accounts, they may change monthly) as determined by the Credit Union Board of Directors.
| Account Type | Rate | APY |
|---|---|---|
| Share Savings Account* | 0.05% | 0.05% |
| My Club Holiday** | 0.05% | 0.05% |
| My Club My Way*** | 0.05% | 0.05% |
| Kasasa Saver® (Up to $100,000)† | 1.9819% | {global-free-kasasa-saver-rate-upper}% |
| Kasasa Saver® ($100,000.01+)† | 0.4989% | {global-free-kasasa-saver-rate-upper}% - {global-free-kasasa-saver-rate-low}% |
| Kasasa Saver® (Non-Qualifying)† | 0.0499% | {global-free-kasasa-saver-rate-nonqual}% |
Savings Rate Disclosure
* You must maintain a $25 minimum daily balance to keep this account open and to earn the stated APY. You must maintain a $200 minimum daily balance in your account to avoid a service fee unless you are under 18 or you maintain a Kasasa Saver account, credit union certificate, money market account, $200 or more in a credit union IRA or if you have a loan account with the credit union. Dividends on this account are compounded and paid quarterly. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
**Dividends on this account are compounded and paid monthly. In October, earned dividends for the first of the month through the last business day of the month will be paid prior to the balance disbursement. During that month, dividends will also be paid on the last day of the month for dividends earned between the disbursement date and the last day of the month. If funds are withdrawn at any time other than the disbursement date, you will be charged a $10 fee for each withdrawal. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
***Dividends on this account are compounded and paid monthly. During any month, you may not make more than one withdrawal or transfer. If you exceed this withdrawal/transfer limitation, you will be charged $10 fee per withdrawal/transfer for each one in excess of one per month. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
†CENTRAL CREDIT UNION OF ILLINOIS
KASASA REWARD CHECKING ACCOUNTS
TRUTH IN SAVINGS ACT DISCLOSURE
This disclosure contains the terms, conditions and rules associated with opening and maintaining your chosen Kasasa account as of May 13, 2024.
OVERVIEW OF KASASA ACCOUNTS:
- Cash Back Reward Account: The following account provides “cash back” rewards:
- Kasasa Cash Back: A free, variable-reward checking account with no minimum balance requirement that rewards accountholders with nationwide ATM withdrawal fee refunds and cash back on their debit card purchases when they meet minimum qualifications during the account's Monthly Qualification Cycle. - Dividend Reward Accounts: The following accounts provide “dividend” rewards:
- Kasasa Cash: A free variable-rate checking account with no minimum balance requirement that rewards accountholders with nationwide ATM withdrawal fee refunds and high dividends when they meet minimum qualifications during the account's Monthly Qualification Cycle.
- Kasasa Saver: A free, variable-rate, savings account with no minimum balance requirement that rewards accountholders with dividends when they meet the minimum qualifications associated with their linked Kasasa checking account during each Monthly Qualification Cycle. In addition, rewards earned in your linked Kasasa checking account are automatically added to your Kasasa Saver Account to help you save.
Collectively, Kasasa Cash and Kasasa Cash Back, may be referred to, in singular or plural form, as “Kasasa checking” account(s) within this disclosure.
PURPOSE AND EXPECTED USE OF ACCOUNT:
Account Expectations: Our institution expects the accountholder to use their selected Kasasa account as their primary checking account in which payroll transactions and day-to-day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining, sporting, and entertainment transactions are posted and settled. Commensurate with these spending activities, we expect the account's debit card to be used frequently throughout the entirety of each month and for transaction amounts to reflect a wide dollar range.
Examples of Inappropriate Use: Small debit card transactions conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal, day-to-day spending behavior. For example, five debit card transactions, each for a dollar, conducted at a convenience store, two days before the end of the cycle would not be considered by our institution as normal, day-to-day spending behavior. These types of transactions, and other activities that appear to be conducted with the sole purpose of qualifying for the account's rewards, will be deemed inappropriate transactions and may not count toward earning the account's rewards. Accountholders who persist in making debit card transactions in a calculated and limited fashion in order to meet their monthly qualifications may have their accounts converted to a different checking account or closed altogether.
Our Rights: Our institution has the right to close this account at any time, with proper notice. We also reserve the right to analyze your account activity to determine: (a) if the account is being maintained for a purpose other than day-to-day primary use; (b) if debit card activities are being executed solely for the purpose of earning the account's rewards and (c) if another account might better serve your banking needs and activities.
Ramifications of Account Closure: Our decision to close the account will not affect your existing obligations to us including any obligation to pay fees or charges incurred prior to termination. No deposits will be accepted, and no checks will be paid after the account is closed. If the account is closed, you will forfeit any rewards that have not been credited to your account. A check from our institution for the remaining balance, if applicable, will be mailed to accountholder at the address indicated on our current records. Upon termination of your Kasasa account, any optional add-on products/services associated with this account will also be terminated at the same time.
If, for whatever reason, your Kasasa Cash Back or Kasasa Cash Account is closed, your linked Kasasa Saver Account will also be closed. If, for whatever reason, your Kasasa Saver Account is closed, then only the appropriate Kasasa Cash Back and Kasasa Cash information within this disclosure will apply.
QUALIFICATION INFORMATION:
To earn your Kasasa rewards, the following enrollments must be in place and all transactions and activities must post and settle to your selected Kasasa checking account during each Monthly Qualification Cycle:
Qualifications
ACH/direct deposit or $500 or more: Kasasa Cash (1); Kasasa Cash Back (1)
Debit card purchases of $5.00 or more: Kasasa Cash (12); Kasasa Cash Back (12)
E-statement enrollment: Kasasa Cash (Yes); Kasasa Cash Back (Yes)
In order to count as a qualifying transaction for the purpose of earning the account's rewards, debit card purchases must each be at least $5.00. Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account's rewards.
The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit card purchases processed by merchants and received by our institution as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our bank. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.
"Monthly Qualification Cycle" means a period beginning one (1) day prior to the first banking day of the current statement cycle through one (1) day prior to the last banking day of the current statement cycle.
“Statement Cycle" means the period of time for which our institution provides a summary of the financial activities and transactions that post and settle to the accountholder's account.
Contact Member Services for specific Monthly Qualification Cycle and Statement Cycle dates.
REWARD INFORMATION:
Depending on what Kasasa account you have chosen, when your chosen Kasasa checking account qualifications are met during a Monthly Qualification Cycle, you will receive the associated account rewards shown below. For complete clarity, you will only receive the rewards associated with your chosen account(s):
Nationwide ATM Withdrawal Fee Reimbursements:
Each time your chosen Kasasa checking account qualifications are met during a Monthly Qualification Cycle, you will receive reimbursements up to an aggregate total of $25 for nationwide ATM withdrawal fees incurred within your chosen Kasasa checking account during that Monthly Qualification Cycle. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction. NOTE: ATM withdrawal fee reimbursements only apply to your chosen Kasasa checking account ATM transactions. ATM withdrawal fees are not reimbursed nor refunded for any Kasasa Saver Account ATM transactions.
When your chosen Kasasa checking account qualifications are not met during a Monthly Qualification Cycle, nationwide ATM withdrawal fees are not refunded.
Nationwide ATM withdrawal fees will be credited to your chosen Kasasa checking account on last day of the current statement cycle. If, however, you have a Kasasa Cash Back Account that is linked to a Kasasa Saver Account, your nationwide ATM withdrawal fees will be credited to your Kasasa Saver Account on the last day of the current statement cycle.
Kasasa Cash Back Rewards:
If you have chosen Kasasa Cash Back as your primary checking account, in addition to receiving the nationwide ATM withdrawal fee reimbursements articulated above, when your Kasasa Cash Back Account’s qualifications are met during a Monthly Qualification Cycle, you will also receive {global-free-kasasa-cash-rate-upper}% cash back on up to a total of $200 debit card purchases that post and settle to your Kasasa Cash Back Account during that cycle period. A maximum of $11.00 in cash back payments may be earned per Monthly Qualification Cycle.
When your Kasasa Cash Back Account qualifications are not met, no cash back payments are made.
Cash back payments will be credited to your Kasasa Cash Back account on the last day of the current statement cycle if your account is not linked to a Kasasa Saver Account. If your Kasasa Cash Back Account is linked to a Kasasa Saver Account, your account’s rewards will be credited directly to your Kasasa Saver Account on the last day of the current statement cycle.
Kasasa Cash Rewards:
When Your Kasasa Cash Account Is Not Linked To A Kasasa Saver Account:
If you have chosen Kasasa Cash as your primary checking account, and your Kasasa Cash Account is not linked to a Kasasa Saver Account, in addition to receiving the nationwide ATM withdrawal fee reimbursements articulated above, when your Kasasa Cash Account’s qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $25,000 in your Kasasa Cash account earn a dividend rate of 5.3660% resulting in an APY of {global-free-kasasa-cash-rate-upper}%; and daily balances over $25,000 earn a dividend rate of 0.4989%, resulting in a range from {global-free-kasasa-cash-rate-upper}% to {global-free-kasasa-cash-rate-lower}% APY depending on the account's daily balance.
When your Kasasa Cash Account qualifications are not met, the entire daily balance in the account earns a dividend rate of 0.0499% resulting in an annual percentage yield of {global-free-kasasa-cash-rate-nonqual}%.
Dividends will be credited to your Kasasa Cash Account on the last day of the current statement cycle.
When Your Kasasa Cash Account Is Linked To A Kasasa Saver Account:
If you have chosen Kasasa Cash as your primary checking account and your Kasasa Cash Account is linked to a Kasasa Saver Account, in addition to receiving the nationwide ATM withdrawal fee reimbursements articulated above, when your Kasasa Cash Account’s qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $25,000 in your Kasasa Cash account earn a dividend rate of 5.3660% resulting in a non-compounding APY* of {global-free-kasasa-cash-rate-upper}%; and daily balances over $25,000 earn a dividend rate of 0.4989%, resulting in a non-compounding range from {global-free-kasasa-cash-rate-upper}% to {global-free-kasasa-cash-rate-lower}% APY depending on the account's daily balance.
When your Kasasa Cash Account qualifications are not met, the entire daily balance in the account earns a dividend rate of 0.0499% resulting in a non-compounding annual percentage yield of {global-free-kasasa-cash-rate-nonqual}%.
Dividends will be credited to your Kasasa Cash account on the last day of the current statement cycle.
*When linked to a Kasasa Saver Account, dividends in your chosen Kasasa Cash Account do not compound because they are automatically transferred to the Kasasa Saver Account within one day. Note: Automatic transfer may cause an overdraft to your chosen Kasasa Cash Account if the account's balance is less than the transferred amount when transfer occurs.
Kasasa Saver Account Rewards:
When your linked Kasasa checking account’s qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $100,000 in your Kasasa Saver Account earn a dividend rate of 1.9819% resulting in an APY of {global-free-kasasa-saver-rate-upper}%; and daily balances over $100,000 earn a dividend rate of 0.4989%, resulting in a range from {global-free-kasasa-saver-rate-upper}% to {global-free-kasasa-saver-rate-low}% APY depending on the account's daily balance.
When your chosen Kasasa checking account’s qualifications are not met, the entire daily balance in the Kasasa Saver Account earns a dividend rate of 0.0499% resulting in an annual percentage yield of {global-free-kasasa-saver-rate-nonqual}%.
Dividends will be credited to your Kasasa Saver Account on the last day of the current statement cycle.
APY = Annual Percentage Yield. Kasasa checking accounts and Kasasa Saver rates, rewards, and bonuses, if any, are variable and may change after account is opened and without notice to you. No minimum balance is required to earn the account's rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings. If your chosen account(s) is closed before its rewards are credited, you will forfeit the account(s)’ rewards.
DIVIDEND & ANNUAL PERCENTAGE YIELD INFORMATION (Applies to Kasasa Cash & Kasasa Saver)
Compounding & Crediting:
Dividends will be compounded on a daily basis*. Note: Dividends do not compound in your Kasasa Cash Account if it is linked to a Kasasa Saver Account because they are transferred to the linked Kasasa Saver Account within one day. Dividends will be credited to your Kasasa Cash and your Kasasa Saver Account on the last day of the current statement cycle. If you close your account before the dividends are credited, you will not receive the accrued dividends. Dividends begin to accrue on the business day you deposit cash or non cash items (e.g. checks) to your account.
Our business days are Monday through Friday, except Credit Union holidays.
"Statement Cycle" means the period of time for which our institution provides a summary of the financial activities and transactions that post and settle to the accountholder's account. Please contact Member Services for specific Statement Cycle dates.
Balance Computation Method:
Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
Dividend Rate & Annual Percentage Yield:
Kasasa Cash and Kasasa Saver are variable-rate accounts. The dividend rate and annual percentage yield may change. The dividend rate is determined at our discretion, and we may change the dividend rate on your Kasasa Cash and Kasasa Saver Account at any time, without any limitations, and without notice to you.
Our current dividend rates and APYs for our Kasasa Cash and our Kasasa Saver Accounts are shown above in the Reward Information section of this disclosure.
APY = Annual Percentage Yield. APY calculations are based on an assumed balance of $125,000 in your Kasasa Cash Account, an assumed balance of $200,000 in your Kasasa Saver Account and an assumed statement cycle of thirty-one (31) days.
GOVERNING LAW
Unless otherwise specified herein, this Disclosure shall be governed, construed, and interpreted in accordance with the laws of the State of Illinois. If there is a conflict between this Governing Law section and any other agreement related to your account, this Governing Law section shall control with respect to the provisions herein.
ADDITIONAL INFORMATION
Membership restrictions may apply. Account approval, conditions, qualifications, limits, timeframes, enrollments and other requirements apply. A parent or legal guardian must be a joint owner on the account if you are under 18 years old. No minimum deposit is required to open a Kasasa Cash Back Account. No minimum deposit is required to open a Kasasa Cash Account. No minimum deposit required to open the Kasasa Saver Account. You may make an unlimited number of deposits in your account(s). See accompanying Rate and Fee Schedule rates, fees and charges that may apply to these accounts. Enrollment in electronic services (e.g. online banking, e-statements) is required to meet some of your chosen checking account's qualifications. Limit of one Kasasa checking account per taxpayer identification number. Limit of one Kasasa Saver Account per taxpayer identification number. There are no recurring monthly maintenance charges or any fees to open or close these accounts. If your Kasasa account is closed, you will forfeit any rewards that have not been credited to that Kasasa account. Contact Member Services for additional information, details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions. Federally insured by NCUA.
Kasasa, Kasasa Cash Back, Kasasa Cash and Kasasa Saver are trademarks of Kasasa, Ltd., registered in the U.S.A.
Share Certificates
These are dividend rates and annual percentage yields. (For purposes of this disclosure, these rates and APYs are offered through 4/22/25. Please call (708) 649-6410 to obtain current rate information.) You will be paid these rates for the terms specified below.
| Account Type | Rate | APY |
|---|---|---|
| 6 Month Certificate/IRA Certificate | {global-ira-certificate-6-month}% | 3.00% |
| 12 Month Certificate/IRA Certificate | {global-ira-certificate-12-month}% | 3.00% |
| 30 Month Certificate/IRA Certificate | {global-ira-certificate-30-month}% | 3.00% |
| 60 Month Certificate/IRA Certificate | {global-ira-certificate-60-month}% | 3.00% |
Share Certificate Disclosure
You must maintain a $1,000 minimum daily balance to earn the stated APY. Dividends on these accounts are compounded and credited monthly. Early withdrawals are subject to a dividend penalty. Withdrawals from IRA certificates are governed by Internal Revenue Service (IRS) regulations. IRA certificates may be opened as traditional or Roth IRAs. For more information regarding fees that may apply to this account, please refer to your Account Information Disclosure.
Share Secured And Personal Loans
Short-Term, Fixed-Rate Mortgages
| Term | APR |
|---|---|
| 60 months | {global-home-loan-low}% (5.563% APR) |
| 84 months | 5.60% (5.647% APR) |
| 120 months | 5.75% (5.785% APR) |
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Disclosure
Minimum loan amount is $15,000. 10-year mortgage product availability dependent on availability of designated funds. Loans are repayable in equal monthly installments over the term of the loan. Example: Monthly payment on a $75,000 loan at 5.75% (5.785% APR) for 120 months is $823.50. Total finance charge: $23,918.88. Total loan cost: $99,030.66. Listed rates are for qualified members who borrow up to 80% of their homes’ current market value. Amount financed is subject to credit and property approval. Homeowner's insurance is required. For loans not exceeding $250,000, closing costs will be a maximum of $350 plus the actual cost of an appraisal if it is determined an appraisal is needed. For loans exceeding $250,000, closing costs will be the actual costs. Should it be determined that an appraisal is necessary, you will be charged the appraisal fee at the credit union’s cost.
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Variable-Rate Home Equity Lines of Credit
Special Home Equity Line Of Credit offer through 6/30/25. Click here.
| Account Type | Rate | APR |
|---|---|---|
| $99,000 or more | n/a | As low as Prime |
| $50,000 to $98,999 | n/a | As low as prime plus .25% |
| $25,000 to $49,999 | n/a | As low as prime plus .75% |
| $5,000 to $24,999 | n/a | As low as Prime plus 1.50% |
Disclosure
Rate can change on the first of each month and is based on the Prime Rate as published in the Wall Street Journal. On 12/19/24, the Prime Rate was 7.50%. Rate determined by available line of credit as low as the following: $99,000 or more, Prime; $50,000-$98,999, Prime plus .25%; $25,000-$49,999, Prime plus .75%; $5,000-$24,999, Prime plus 1.50%. Listed rates are for qualified members who borrow up to 80% of their homes’ equity. Amount financed is subject to credit and property approval. Homeowner's insurance is required. Maximum APR: 18%. Minimum APR as low as 3.99%. Initial advance of at least $5,000 is required at the time of loan disbursement. Subsequent advances must be at least $500. Minimum monthly payment $120. A $50 annual fee is waived the first year and then becomes effective for the remaining four years of the draw period. If you close your line of credit within two years of its opening, you will be required to reimburse the credit union for certain third party fees up to a maximum of $500.
Vehicle Loans
Check out the savings during our Spring Vehicle Event!
Members with Platinum Premiere Visa cards can redeem 5,000 Premiere Points and reduce their rates by an additional .25%.
| Vehicle Year(s) | Term | APR |
|---|---|---|
| 2023, '24 & '25 Models | 27 Months | As low as {global-auto-loan-rate}% |
| 2023, '24 & '25 Models | 39 Months | As low as {global-auto-loan-rate}% |
| 2023, '24 & '25 Models | 51 Months | As low as {global-auto-loan-rate}% |
| 2023, '24 & '25 Models | 63 Months | As low as 5.29% |
| 2023, '24 & '25 Models | 75 Months | As low as 5.59% |
| 2025 Models | 84 Months (New purchases only) | As low as 5.79% |
| 2022 Models | 63 Months | As low as 5.64% |
| 2022 Models | 75 Months | As low as 5.84% |
| 2021 Models | 63 Months | As low as 6.24% |
| 2019 & '20 Models | 63 Months | As low as 6.74% |
| 2017 & '18 Models | 51 Months | As low as 7.74% |
Disclosures
Listed rates are for up to 110% financing for qualified members. Listed rates include a .10% member account relationship discount (qualifying relationship accounts at time of disbursement are checking, real estate loan, vehicle loan or Visa Platinum). Other terms are available at higher rates. APR may vary based on term and creditworthiness. At the listed rates, the credit union will finance up to 110% of the manufacturer’s suggested retail price less any manufacturer’s rebate for new vehicles and up to 110% of the NADA retail value for used vehicles for qualified members. Loans are repayable in equal monthly installments over the term of the loan. Example: Monthly payment on a $25,000 loan at 5.59% APR for 75 months is $395.78. Total finance charge: $4,682.69. Total loan cost: $29,682.69. Refinances not valid for existing Central Credit Union loans. Secretary of State retitling fee will be added to the loan balance of members who refinance with loans less than $10,000. 84-month loans available for new car purchases or refinances of new cars purchased within one year. To take advantage of listed rates, you must apply by May 15, 2025 and disburse your loan by May 31, 2025.
Visa Fees
| Type of Fee | Fees |
|---|---|
| Late Payment Fee | Up to $25 |
| Over-Limit Fee | Up to $25 |
| Returned Check Fee | Up to $25 |
| Draft Copy Fee | $5 |
| Statement Copy Fee | $3 |
| Card Pick-Up Fee | $65 |
| Card Replacement Fee | $10 |
| Cash Advance For ATM Transactions And Non-Check Advances (Excluding Balance Transfers) | Either $3 or 3% of the amount of the transaction, whichever is greater |
| Foreign Transaction | 2% of each transaction in U.S. dollars |
Visa Platinum Cards
| Account Type | Rate | APR |
|---|---|---|
| First-Rate Platinum Visa | n/a | {global-cc-rate-lower}% APR to 18% APR when you open your account based on your creditworthiness |
| Platinum Premiere Visa | n/a | 12.6% APR to 14.7% APR when you open your account based on your creditworthiness |
| C3 Visa | n/a | 14.7% APR |
| Secured Visa Platinum | n/a | 22.25% APR |
Disclosures
The information about the costs of the cards described above is accurate as of {{ dynamic-date }} and is subject to change at any time. To find out what information may have changed, call us at (708) 649-6430 or at (800) 750-3660 if outside Chicago area.