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.
The latest rate increases at America First CU include the 12-23 month (3.00% APY), 24-29 month (3.25% APY), and 36-47 month (3.35% APY) Certificates. Any of these Certificates can be opened with a $500 minimum deposit and no stated balance cap, with the exception of the Dedicated Savings Certificate, which has a $100k balance cap, but no minimum deposit.
Dedicated Savings Certificate
America First CU’s Dedicated Savings Certificate is essentially an add-on CD. I first wrote about the Dedicated Savings Certificate in a May 2012 blog post, and the most pertinent features have not changed since then:
- Additional contributions up to $10k per month.
- Each member limited to deposits of $100k in any one or combination of Dedicated Savings accounts.
- Automatic share transfer or payroll deduction (must be at least $10 per month).
As stated in the Truth-In-Savings disclosure, Early Withdrawal Penalty reads 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.
Headquartered in Riverdale, Utah, America First Credit Union is the largest credit union in the state, with a field of membership (FOM) that has recently expanded.
Residency: Individuals who live, work (or regularly conduct business), worship, attend school, or volunteer in portions of 16 Idaho, eleven Utah, eleven Nevada (including Las Vegas), two Arizona (including Phoenix), and one Oregon counties are eligible for membership. The Credit Union provides an interactive map 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.
Joining America First CU and/or opening a Regular Certificate 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 15 southeast Nevada branches. There are now six Arizona branches (from the 2018 merger with Altier Credit Union) and a single branch in Boise, Idaho.
Credit Union Overview
America First Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 10.32% (excellent) based on December 31, 2018 data. In the past year, America First CU has increased its total deposits by $990.46 million, an excellent annual growth rate of 12.23%. 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; 80 years later, America First CU is ninth largest credit union in the country, with more than 1,000,000 members and assets in excess of $10.3 billion.
How the Regular Certificates Compare
Given America First CU’s multi-state FOM, comparisons to nationally available CDs makes sense.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide and require a similar minimum deposit, America First Credit Union’s 12-23 month Regular Certificate APY currently ranks first.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide and require a similar minimum deposit, America First Credit Union’s 24-29 month Regular Certificate APY currently shares the top ranking with Mountain American CU’s 24-month Term Deposit.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide and require a similar minimum deposit, America First Credit Union’s 36-47 month Regular Certificate APY currently shares the top ranking with Mountain American CU’s 3-year Term Deposit.
The above rates are accurate as of 3/18/2019.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.