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Great Lakes Credit Union

Overview
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Great Lakes Credit Union is a federally insured state credit union based in Bannockburn, Illinois. It has been opened since 1938, for 82 years.

With around $860,510,000 in assets, Great Lakes Credit Union is considered to be a very large credit union. It has 11 branches and 11 ATM locations.

About
Address P.O. Box 1289
Bannockburn, Illinois 60015
Website http://www.glcu.org
Phone (847) 578-7000
CEO Steven Bugg
President of the Board Stephen Park
Services Offered
Map
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Score Card
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82 years
Years in business
Opened in 1938
Well Capitalized
Net worth classification
Source: NCUA
81,775 members
Membership type: State chartered natural person credit union
Above average number of members
429:1
Credit union member to staff ratio
429 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$860,514,440
Total assets
Above average
11 branches
Compared with an average of 4 nationally and 2 in Illinois
Above average number of branches
0.21%
Savings interest rate
Compared to 0.3% nationally
10.38%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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11 branches
Compared with an average of 4 nationally and 2 in Illinois
Above average number of branches
Great Lakes Credit Union Branch Locations

Great Lakes Credit Union: Antioch Branch
351 E. Il Route 173
Antioch, Illinois 60002
ATM Available
Great Lakes Credit Union: Woodstock Branch
180 S. Eastwood Drive
Woodstock, Illinois 60098
ATM Available
Great Lakes Credit Union: Crystal Lake Branch
345 E. Congress Parkway
Crystal Lake, Illinois 60014
ATM Available
Great Lakes Credit Union: Glcu Headquarters
2111 Waukegan Road
Bannockburn, Illinois 60015
No ATM
Great Lakes Credit Union: Bolingbrook Branch
267 S. Weber Road
Bolingbrook, Illinois 60490
ATM Available
Great Lakes Credit Union: Country Club Hills Branch
18130 Crawford Avenue
Country Club Hills, Illinois 60478
ATM Available
Great Lakes Credit Union: Waukegan Branch
3290 North Lewis Avenue
Waukegan, Illinois 60087
ATM Available
Great Lakes Credit Union: Round Lake Beach Branch
2135 North Il Route 83
Round Lake Beach, Illinois 60073
ATM Available
Great Lakes Credit Union: Gurnee Branch
7275 Grand Avenue
Gurnee, Illinois 60031
ATM Available
Great Lakes Credit Union: North Chicago Branch
2525 Green Bay Road
North Chicago, Illinois 60064
ATM Available
Great Lakes Credit Union: Zion Branch
2145 Sheridan Road
Zion, Illinois 60099
ATM Available
Great Lakes Credit Union: Naperville Branch
1519 North Naper Boulevard
Naperville, Illinois 60563
ATM Available
Members
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81,775 members
Membership type: State chartered natural person credit union
Above average number of members

With 81,775 members, the Great Lakes Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 94% of credit unions.

Fees
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$74
Average fee per member
The average fee per member at the Great Lakes Credit Union is $74, which is high compared to most credit unions. This rate is higher than 70% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Great Lakes Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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429:1
Credit union member to staff ratio
429 per each FTE employee
Compared to 411:1 nationally
Fewer staff
190 staff members
FTE (full-time equivalent)
13% of employees are part-time
177 full-time, 27 part-time

Great Lakes Credit Union has 177 full-time staff members and 27 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 87% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Great Lakes Credit Union has around 429 members per staff, a higher ratio compared to other credit unions.

Assets
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$860,514,440
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
8.6%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$17,451
Average loan and lease size
Loan & lease sizes are big! They are bigger than at 87% of credit unions.

Great Lakes Credit Union holds a total of $646,670,000 in loans and leases, which is about $17,451 per member on average.

Savings interest rate
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0.21%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Great Lakes Credit Union pays 0.21%.

Loan rates
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10.38%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
15.68%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.20%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.91%
New car loan rate
Compared to 4.0% nationally
5.55%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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6.07%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.91%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
4.60%
Other real estate loan rates
Compared to 0.9% nationally