American 1 Credit Union is headquartered in Jackson and is the 39th largest credit union in the state of Michigan. It is also the 653rd largest credit union in the nation. It was established in 1980 and as of September of 2022, it had grown to 216 employees and 61,735 members at 17 locations. American 1 Credit Union's CD rates are 3X the national average, and it has an A health rating.
Field of Membership Restrictions
American 1 Credit Union is open to anyone through joining the Community 1 Cooperative ($3 membership fee). Membership is also to those who live in the Michigan counties of Calhoun, Hillsdale, Jackson, Lenawee, Washtenaw, or Wayne.
See current membership details
New Member Of American 1 Credit Union
I’m a new member of American 1 Credit Union, and I opened an IRA with a long term CD.
Tracey Olson (E Service Specialist) did a great job of getting my account set up and my funds transferred from another CU.
Odd EWP On Cds
Wording from the web site on EWP. Appears you pay 90 days of interest plus the interest on the amount withdrawn.
"The penalty we may impose will equal 90 days dividends on the amount withdrawn plus the amount of dividends earned on the amount withdrawn in excess of the amount of dividends that would have been earned at the Savings/Share account rate."
Great Customer Service
I’m a new member of American 1 Credit Union and Byron Rose who helped setup my membership and open a CD was so helpful. He went above and beyond for me. Unfortunately their rates have dropped significantly since I opened the CD but nonetheless Bryan’s customer service was excellent.
Updated review 12-22-22: I should have been more careful and read the previous review by mountain52 about the strange EWP on this credit union’s CDs. On a $235,000. 5 yr. CD earning 2.00% I was told my EWP would be $9,000. I wanted to close out the old CD, open a new CD at American 1 with their now higher rate and transfer that same money to the new CD. Lesson learned the hard way. Even if their rates are way above every other credit union or bank in the world, when the CD matures I will close the CD and saving account and go elsewhere. Again it’s my fault and should have read the fine print but regardless I’m really disappointed especially since I didn’t even want to take the money out of the credit union even though their new rates are not as good as othe FI’s I’m also using.
Data as of Q3 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 65595 |
| Year Chartered | 1980 |
| Employees | 216 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.57% |
| Return on Equity - YTD | 10.43% |
| Annual Interest Income | $18.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $588.8MM$555.9MM |
| Loans | Q3 2022vs Q3 2021 | $384.5MM$326.5MM |
| Deposits | Q3 2022vs Q3 2021 | $486.4MM$463.6MM |
| Equity Capital | Q3 2022vs Q3 2021 | $88.4MM$78.9MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $5.1MM$5.5MM |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $6.7MM$3.5MM |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$91.00K |
