America First Credit Union Has Competitive Bump-Rate CDs

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Deal Summary: Bump-Rate Certificate Specials – 12-month (5.25% APY) and 24-month (5.15% APY), $500 minimum deposit.

Availability: Residents of portions of counties in Arizona (3), Idaho (16), Nevada (11), New Mexico (12), Oregon (1), and Utah (9).

Last week, Utah-based America First Credit Union (America First CU) unveiled two Bump-Rate Certificate Specials: 12-month (5.25% APY) and 24-month (5.15% APY). Either can be opened with a $500 minimum deposit, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
5.25%$500-America First Credit Union12 Month Bump-Rate Certificate Special
5.15%$500-America First Credit Union24 Month Bump-Rate Certificate Special
Rates as of March 24, 2023.

According to the Bump-Rate Certificate landing page,

Bump-rate Certificate Accounts give you a one-time increase in your rate. You decide when to bump the rate and you can choose any of our terms (rates vary according to term).

CSR pointed out that the responsibility for requesting a rate bump belongs to the Certificate owner: America First CU will not inform you if the rate has been increased.

Note: While America First CU currently offers the same APYs on its 12-month and 24-month Certificate Specials, there’s no real advantage in opening a non-bump-rate Certificate.

APYMINMAXINSTITUTIONPRODUCTDETAILS
5.25%$500-America First Credit Union12 Month Certificate Special
5.15%$500-America First Credit Union24 Month Certificate Special
Rates as of March 24, 2023.

As stated in the Truth-In-Savings disclosure, Early Withdrawal Penalty reads as follows:

The penalty schedule is as follows: Terms of twelve (12) months or less–sixty (60) days of dividend; terms over twelve (12) months–one hundred eighty (180) days of dividend. Minimum penalty is $5.00.

If the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.

Availability

Headquartered in Riverdale, Utah, America First Credit Union’s field of membership (FOM) is primarily community-based, with individuals who live, work (or regularly conduct business), worship, attend school, or volunteer in counties (or portions of) in Arizona (3), Idaho (16), Nevada (11), New Mexico (12), Oregon (1), and Utah (9) eligible for membership. A detailed explanation is included on the Become a Member page to help determine eligibility.

Employment: Owners, employees, or suppliers involved in the food industry in Utah qualify for membership.

Family Relationship: Members of the immediate family (Parent, Spouse, Sibling/Step, Child/Step, Grandparent, Grandchild) or household of current America First CU members or those eligible for membership are welcome to apply.

Account Opening

Joining America First CU and/or opening a Bump-Rate Certificate Special can be done online or at any of 112 Utah branches, located in the greater Salt Lake City area and the southwest corner of the state, or 16 southeast Nevada branches. There are also six Arizona branches (from the 2018 merger with Altier Credit Union), two Idaho branches (Boise and Rexburg), and a single branch in Albuquerque, New Mexico.

A Share Savings Account establishes a America First membership and can be opened with a $1 minimum deposit.

Funding and Other Details

The following information is from a conversation with CSR and from TIS disclosure.

  • Funding – ACH, wire ($10 fee), debit card ($2.5k max online), or internal transfer.
  • CO-OP Shared Branch Participant – No.
  • Dividends – Compounded/credited monthly and can be “paid into Savings, Checking, Money Market Savings, or reinvested in your Certificate.”
  • Maturing Funds – Automatically transferred into a Share Savings Account, then can be distributed by wire ($15 fee) or cashier’s check to address on file.
  • Beneficiaries – Unlimited, equal shares, Social Security numbers are not required.
  • Grace Period – 10 calendar days before renewal as a regular Certificate.
  • Credit Check – Soft pull.

Credit Union Overview

America First Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.17% (excellent) based on September 30, 2022 data. In the past year, America First CU has increased its total deposits by $1.06 billion, an excellent annual growth rate of 7.23%. Please refer to our financial overview of America First Credit Union (NCUA Charter # 24694) for more details.

America First Credit Union was founded in 1939 as the Fort Douglas Civilian Employees Credit Union. (Closed in 1991, Fort Douglas was originally established in 1862 to protect the Central Overland Route telegraph lines and mail route.) The Credit Union’s first home was a small office in Fort Douglas that was only open for 30 minutes every Friday afternoon. In 1939, there were 79 members and total assets of $788; 84 years later, America First CU is the eighth largest credit union in the country, with more than 1,300,000 members and assets in excess of $17.6 billion.

How the 12-Month Bump-Rate Certificate Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the America First Credit Union 12-Month Bump-Rate Certificate Special. The following table compares the 12-Month Bump-Rate Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 24-Month Bump-Rate Certificate Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the America First Credit Union 24-Month Bump-Rate Certificate Special. The following table compares the 24-Month Bump-Rate Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 2/21/2022.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Phoenix CD rates, Boise CD rates, Idaho Falls CD rates, Salt Lake City CD rates, Albuquerque CD rates, Reno CD rates, Las Vegas CD rates, 1-year CD rates, 5-year CD rates

Comments
rockies
  |     |   Comment #1
For those who qualify for membership, these look like super certificates.....especially with the one-time bump option on two popular maturities (not some odd, one-off maturity...like 20 ½ months).

Also, after reading the TIS, it appears that both of these bump-rate certificates are also available in IRA's. Here is the specific wording from the first paragraph: "This schedule sets forth conditions, rates, fees and charges applicable to member Savings, Checking, Certificate Accounts, Individual Retirement Accounts (IRAs), Coverdell Education Savings Accounts (CESAs), and Health Savings Accounts (HSAs) at America First Federal Credit Union."  (Bold Added)

Furthermore, the 12- and 24-month specials are clearly included in the list of bump-rate certificates. And, I see no language in the TIS that excludes IRA's from holding regular certificates or bump-rate certificates. Lastly, there is no separate list of IRA Certificates listed. So, it seems logical to assume these are the certificates that are held in an IRA.

I wish I qualified. I would jump on a 5.15% 24-Month IRA certificate with a bump option. And the 12-month, 5.25% certificate with one-time bump and a tiny 60-day early withdrawal penalty might even convince me to shift a bit of my Treasury bill investment since Treasury bills don't even offer a bump option.

I would say this credit union has gotten creative AND aggressive with two products in the sweet spot of the certificate market.
Shelby
  |     |   Comment #3
rates at 0 in 24 months?
P_D
  |     |   Comment #4
Nothing else equals the thrill of locking in an inflation loss.
gregk
  |     |   Comment #5
Personal inflation rates vary widely.

BTW, what’s your own inflation loss avoidance strategy, PD?
LovinSomeCDs
  |     |   Comment #6
You got that right Greg! I hope for higher inflation each and every week! Loving these rates. But, I know not everyone can say the same. For my family, we are good on houses, cars, education, eggs, and electronics... but, all those will drop like a rock when the crash comes anyway.
P_D
  |     |   Comment #7
Yes I know ... we've substituted Taco Bell and bowling for the steakhouse and our annual cruise... So therefore we've had no loss to inflation.

That's exactly the way the government calculates the inflation rate too. GMTA.
LovinSomeCDs
  |     |   Comment #8
PD, youre partially correct on that actually. My wife and I havent had steak in almost a year! We dont need it to survive, no biggie. We def dont eat Taco Bell though. Cook at home, and inflation seems minimal .Its the restaurants that are gouging right now, all while ex cons cook your food! (that is 90% of restaurant line cooks).

pass
P_D
  |     |   Comment #9
"all while ex cons cook your food"

LOL!
LovinSomeCDs
  |     |   Comment #2
Wow! A credit union called America First, in Oregon??

surprising
gregk
  |     |   Comment #10
Just what exactly would you expect an Oregon Credit Union to be named?
#11 - This comment has been removed for violating our comment policy.
#12 - This comment has been removed for violating our comment policy.
#13 - This comment has been removed for violating our comment policy.
LovinSomeCDs
  |     |   Comment #14
Heck no Greg!!......

Now, for 7%, I would do unimaginable things! Then after i lock in the CD, I would call Fox News and broadcast that this CD is DISCRIMINATING! lol

:)
#15 - This comment has been removed for violating our comment policy.
America First Credit Union's 12-Month CD Now Earns 3.00% APY
Deal Summary: Regular Certificates – 12-23 month (3.00% APY), 24-29 month (3.25% APY), and 36-47 month (3.35% APY), $500 minimum deposit.

Availability: Residents of portions of eleven Utah, eleven Nevada (Las Vegas), 16 Idaho, two Arizona (Phoenix), and one Oregon counties.

In February, Utah-based America First Credit Union (America First CU) doubled the rate on its 6-11 month Certificates (Regular, Dedicated Savings, Ladder, and IRA) to 3.00% APY and also raised the rates on its 48-59 and 60-month Certificates. Those rates are still in effect today.

Continue Reading
America First Credit Union Ups 6-11 Month CD To 3.00% APY
Deal Summary: Regular Certificates – 6-11 month (3.00% APY) and 48-59 month (3.25% APY), $500 minimum deposit.

Availability: Residents of portions of eleven Utah, eleven Nevada, 16 Idaho, two Arizona, and one Oregon counties.

Utah-based America First Credit Union (America First CU) has doubled the rate on all its 6-11 month Certificates (Regular, Dedicated Savings, Ladder, and IRA) to 3.00% APY. While not as impressive as the 6-11 month APY, the 48-59 month Certificate (3.25% APY) and the 60-month Certificate (3.50% APY) are quite competitive. These rates have held...

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America First Credit Union Ups 60-Month CD Rate
Deal Summary: 60-month Regular Certificate, 3.25% APY, $500 minimum deposit.

Availability: Residents of five Utah, two Arizona, and two Nevada counties.

Utah-based America First Credit Union (America First CU) is currently offering 3.25% APY on all of its various 60-month Certificates: Regular, Dedicated Savings, Ladder, and IRA. The minimum deposit is $500 and there are no stated balance caps, with the exception of the Dedicated Savings Certificate, which has a $100k balance cap, but no minimum deposit.

In the past year, the 60-month Regular Certificate has added 70...

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America First CU (UT) Raises 60-Month CD Rate
Deal Summary: 60-month Regular Certificate, Dedicated Savings Certificate, and Bump-Rate Certificate; $500 minimum deposit.

Availability: Residents of five Utah counties, two Arizona counties, and two Nevada counties.

Utah-based American First Credit Union (America First CU) is currently offering a 2.55% APY on all of its various 60-month Certificates: Regular, Dedicated Savings, Bump, Ladder, and IRA. The 2.55% APY is the 60-month Certificate’s highest rate in nearly seven years.

The minimum deposit is $500 and there are no stated balance caps, with the exception of the Dedicated Savings Certificate...

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America First CU (UT/NV) Offers Competitive 60-Month CDs
Availability: Residents of three Utah counties (Salt Lake City area) and two Nevada counties (Las Vegas area).

Utah-based American First Credit Union (America First CU) is offering 2.30% APY on all of its various 60-month Certificates: Regular, Dedicated Savings, Bump, Ladder, and IRA.

The minimum deposit is $500 and there are no balance caps, with the exception of the Dedicated Savings Certificate that has no minimum deposit, but does has a $100k cap.

DA readers are probably familiar with most of the different types of American First CU Certificates, but...

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