GLCU History

Great Lakes Credit union is banking for better. Founded in Lake County, Ill. in 1938, GLCU began with one goal in mind: Enable civil servants to create their ideal future by borrowing and saving at competitive rates.

At the time, no financial institution existed in the area, leaving local workers without an option to safely and easily deposit and borrow money. The member-owned, community-focused cooperative proved to be the solution, and membership expanded quickly to other unions and communities in the area.

Fast forward to today, and GLCU is still committed to financial access and empowerment for every stage of life.

We know your money is more than a balance in a bank account; it’s the thing that lets you live the greatest version of your life. And we believe everyone deserves to live the greatest version of their life. That’s why, today, we offer so much more than just fairly priced loans and a safe place to make deposits. We offer education, tools and community development programs that make it easy to save, spend and give back on your terms – whether you’re just starting out, a seasoned investor or a savvy small business owner.

Our goal is to ensure that we empower all members through better control of their finances.

Fun Facts About GLCU:

  • Of the 5,100 federally insured credit unions in the U.S., fewer than 10 offer HUD-approved housing and financial counseling. GLCU is one of those that offers this counseling service, and it’s available to both members and non-members.
  • As a not-for-profit, member-owned credit union, all of the money we make from interest income, fees, etc. goes back to our members in the form of new products and features; competitive interest rates on deposits and loans; and community investment activities such as member scholarships.
  • GLCU is banking for better which means that when you become a member, you’re not just bettering your own finances. You’re also helping to support financial and housing counseling services; checking and savings accounts that are accessible to underserved communities; and community programs that help to ensure the financial well-being of generations of families.