American 1 Credit Union

Overview / Commentary
718 E Michigan Ave
Jackson, MI 49201

American 1 Credit Union is headquartered in Jackson and is the 39th largest credit union in the state of Michigan. It is also the 664th largest credit union in the nation. It was established in 1980 and as of June of 2023, it had grown to 241 employees and 62,825 members at 15 locations. American 1 Credit Union's CD rates are 4X the national average, and it has a B+ health rating.

Field of Membership Restrictions

American 1 Credit Union is open to anyone through joining the Community 1 Cooperative ($3 membership fee).
See current membership details

Related Posts

American 1 Credit Union Adds 6% APY 1-Year CD Special - 9/2/2023

American 1 Credit Union (easy membership) has a rate-leading 1-year Share Certificate Special now through 9/8/2023. $1k min deposit, with at least $1k of new money.

American 1 CU One-Year CD 6% - 9/1/2023

American 1 Credit Union one-year CD is 6% APY. $1,000 minimum. Hard pull if one is new to this CU. Deposit Accounts American 1 page says anyone can join:

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Reviews (5)

New Member Of American 1 Credit Union

Posted by: |

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.

They Make You Work Hard For The Extra Yield!

Posted by: |

Of all the CDs I've opened recently this one seems the most complicated. First, you can't just open / fund an acc online. Someone needs to call you, go over the conditions, and do a hard credit pull. You are then sent a document to sign via email, which strangely also includes some loan documents, your loan number, loan terms & conditions, with your name listed as the borrower! Exactly why a person applying for a CD needs to sign a loan document is beyond me. To make matters worse, they won't initiate a transfer from their end to fund the acc. You need to either mail a check, or do a wire transfer, which is costly. And you have only until September 08 to do all these! And good luck understanding the early redemption terms! I'll wait for the next 6% CD from a more easy-going bank/CU.

Hard Credit Pull

Posted by: |

They do a hard credit pull just to join and open a CD. Hard pass. Otherwise I would join.

Odd EWP On Cds

Posted by: |

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

Posted by: |

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.


Health Grade Components

NCUA #65595
Year Chartered1980
Primary Regulator
Profit Margin
Return on Assets - YTD1.28%
Return on Equity - YTD8.68%
Annual Interest Income$16.9MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$592.6MM$586.2MM
LoansQ2 2023vs Q2 2022$429.8MM$368.8MM
DepositsQ2 2023vs Q2 2022$489.5MM$486.2MM
Equity CapitalQ2 2023vs Q2 2022$87.2MM$85.8MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$4.9MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$7.6MM$4.8MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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American 1 Credit Union Savings Account Rates

0.50%$5-Primary Share Savings
0.50%--Members Choice Account
0.50%--Christmas Club
0.50%--Vacation Club
0.50%--True Savings

American 1 Credit Union Money Market Rates

1.00%$5k-Money Market Account

American 1 Credit Union Checking Account Rates

0.50%$2k-Premier Checking

American 1 Credit Union CD Rates

4.75%$500-5 Year CD
4.50%$500-4 Year CD
4.35%$500-3 Year CD
4.25%$500-2 Year CD
4.00%$500-1 Year CD
0.75%$500-180 Day CD

American 1 Credit Union IRA Rates

4.73%$50-5 Year Traditional IRA
4.42%$50-4 Year Traditional IRA
4.27%$50-3 Year Traditional IRA
4.22%$50-2 Year Traditional IRA
4.06%$50-1 Year Traditional IRA
4.06%$50-5 Year Roth/CESA IRA
3.80%$50-4 Year Roth/CESA IRA
3.55%$50-3 Year Roth/CESA IRA
3.29%$50-2 Year Roth/CESA IRA
2.52%$50-1 Year Roth/CESA IRA
0.75%$50-180 Day Traditional IRA


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