Question 1

What is Community Trust Credit Union (CTCU)?

Accepted Answer

Community Trust Credit Union (CTCU) is a community-based credit union headquartered in Gurnee, Illinois, serving members across Lake and McHenry Counties in Illinois and Kenosha County in Wisconsin. With over $321 million in assets and approximately 13,500 members, CTCU has established itself as a stable financial institution focused on providing competitive financial products and personalized service. The credit union operates four convenient branch offices and emphasizes its commitment to remaining a permanent fixture in the communities it serves, contrasting with the frequent mergers and name changes common in today's financial services industry.

Question 2

When was Community Trust Credit Union (CTCU) founded?

Accepted Answer

Community Trust Credit Union was founded on July 18, 1933, originally as Warren Township Credit Union. The credit union was organized by community leaders who sought to help each other navigate the challenging Depression years by offering an alternative to the high loan rates and low savings rates charged by local banks and savings and loan institutions.

The founding members created the institution with a cooperative spirit, establishing a field of membership that initially served anyone living or working in Warren Township, along with their family members. Over more than 90 years of operation, CTCU has evolved from its modest beginnings to serve a broader geographic area while maintaining its foundational commitment to member service and community support.

Question 3

Where is Community Trust Credit Union (CTCU) headquartered?

Accepted Answer

Community Trust Credit Union is headquartered at 1313 N Skokie Highway in Gurnee, Illinois 60031.

Question 4

Where does Community Trust Credit Union (CTCU) operate?

Accepted Answer

CTCU operates four branch offices located in Gurnee, West Gurnee, Grayslake, and Lake Villa, all within the northern Illinois region. The credit union's field of membership extends to anyone who lives or works in Lake County or McHenry County in Illinois, as well as Kenosha County in Wisconsin.

This geographic service area allows CTCU to serve communities throughout northeastern Illinois and southeastern Wisconsin, maintaining strong ties to the local area while providing accessible financial services through multiple branch locations.

Question 5

What services does Community Trust Credit Union (CTCU) offer?

Accepted Answer

CTCU provides a comprehensive suite of financial products and services designed to meet diverse member needs:

Deposit Accounts: Primary savings accounts, checking accounts, money market accounts, share certificates, holiday/vacation savings accounts, youth savings accounts, Uniform Transfer to Minor accounts, and trust savings accounts.

Lending Products: Auto loans with refinancing options, home equity loans and lines of credit, mortgage loans and refinancing, personal loans, holiday loans, and Visa credit cards with no annual fees and competitive rates.

Insurance Services: Accidental death and dismemberment coverage, TruStage auto and homeowners insurance programs, and pet insurance options.

Digital Banking: CTCU offers robust online and mobile banking through its eBranch platform, providing 24/7 account access, mobile check deposit, bill payment and presentment services, fund transfers, eStatements, text message banking, and mobile apps for iPhone, Android, and iPad devices. Members can also access cancelled check images, set up email alerts, and integrate accounts with financial management software like Quicken and MS Money.

Additional Services: Direct deposit, ATM/debit card services, stop payment requests, and various member benefit programs.

Question 6

What makes Community Trust Credit Union (CTCU) unique?

Accepted Answer

CTCU distinguishes itself through its remarkable longevity and stability—operating continuously for over 90 years without mergers, acquisitions, or name changes that have affected many competing institutions. This consistency has allowed the credit union to build deep roots in the communities it serves and maintain long-term relationships with members.

The credit union emphasizes its cooperative ownership structure, where members are also owners, ensuring that profits are returned to members through competitive rates and lower fees rather than being distributed to external shareholders. CTCU has maintained strong financial performance with a healthy net worth ratio of 11.54% and positive return on assets.

CTCU's commitment to community contribution is a core value, with the institution playing an important role in the history, development, and growth of its service area communities. The credit union offers membership to anyone who lives or works in its service counties, making it accessible to a broad population base with just a $5 minimum deposit to open an account.

Question 7

What type of financial institution is Community Trust Credit Union (CTCU)?

Accepted Answer

Community Trust Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). As a credit union, CTCU operates as a not-for-profit financial cooperative owned by its members.

Unlike traditional banks that operate for the benefit of shareholders, credit unions like CTCU are structured to serve their members' financial needs. Each member has equal voting rights regardless of account size, and the credit union's earnings are returned to members through better rates on savings, lower loan rates, reduced fees, and enhanced services.

Membership is based on a common bond—in CTCU's case, living or working within Lake County or McHenry County in Illinois, or Kenosha County in Wisconsin. Member deposits are federally insured by the NCUA up to $250,000, providing the same level of protection as FDIC insurance at banks.

Community Trust Credit Union (CTCU)

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About Community Trust Credit Union (CTCU) in the United States