American United Federal Credit Union (AMUCU) began the month by introducing a 10-month Share Certificate Special (2.00% APY). This limited-time offer is available through December 29, 2017. The minimum opening deposit is $500 of new money, with no stated balance cap.
Funds withdrawn from an AMUCU account and redeposited within a
30-day period cannot be used to fund this Share Certificate account.
|2.00%||$500||-||American United Federal Credit Union||10 Month Share Certificate Special (New Money)|
|2.00%||$500||-||American United Federal Credit Union||10 Month IRA Special (New Money) (Traditional, Roth, CESA, SEP)|
The 10-month Share Certificate Special is also available as an IRA (Traditional, Roth, CESA, and SEP), earning the same APY with the same funding requirements.
As stated in the fine print on the Deposit Rates page, the Early Withdrawal Penalty reads as follows:
The penalty we may impose will equal 180 days
dividends on the amount withdrawn (whether earned or not).
While some of AMUCU’s Share Certificates have a “Bump Option,” the 10-month Share Certificate Special does not qualify for “a one-time rate change (to current published rates) during the life of the certificate.” The bump can also be waived up front in exchange for an additional 0.10% rate increase.
I’m mentioning the Bump Option because of AMUCU’s 60-month Share Certificate that currently earns 2.60% APY. The additional “up front” 10 bps would boost the 60-month Share Certificate to the top of 5-year category for CDs available in Utah.
Headquartered in West Jordan, Utah, American United Federal Credit Union’s field of membership (FOM) is primarily residency based.
Residency: Individuals who live, work, worship, volunteer, attend school, or “associate” in Salt Lake and Tooele Counties are eligible to join.
Employment: Employees, volunteers, and relatives of employees of more than 20 SEGs qualify for membership. A complete list of these SEGs is on the first page of the online application.
Other: Members, tribal administrators, and employees of the Morongo Band of Mission Indians (Southern California) qualify for membership.
Joining AMUCU and/or opening a CD can be done online, or at any of eight Utah branches located in Draper, Grantsville, Kearns, Salt Lake City (4), Sandy, and West Jordan, or the sole California branch in Cabazon.
Credit Union Overview
American United Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 10.28% (excellent) based on June 30, 2017 data. In the past year, AMUCU has increased its total non-brokered assets by $9.83 million, an excellent annual growth rate of 6.23%. Please refer to our financial overview of American United Federal Credit Union (NCUA Charter # 8187) for more details.
American United Federal Credit Union is currently Utah’s 13th largest credit union, with more than 20,000 members and assets in excess of $199 million. Founded in 1952 as the Fort Douglas VA Hospital Federal Credit Union, American United has grown to become a “Family of Credit Unions,” through seven mergers that occurred between 2007 and 2014. The credit unions that have joined AMUCU are Blues Plus FCU, First Californian, Big Valley FCU, VAF FCU, Credit Union One, Grantsville FCU, Newspaper Employees CU, and Deseret New Employees CU.
How the Share Certificate Special Compares
When compared to the 271 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the FOM, American United Federal Credit Union's 10-month Share Certificate Special APY clearly ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.00% APY||10-Month Share Certificate Special||American United Federal Credit Union|
|1.75% APY||14-Month CD||INOVA Federal Credit Union|
|1.71% APY||12-Month CD||Limelight Bank|
The above rates are accurate as of 11/8/2017.