American United Federal Credit Union 5-Year CD Earns Up To 3.75% APY

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Deal Summary: 60-month Share Certificate, 3.50% APY base, $500 minimum deposit; one-time Bump Option or up-front additional 0.10% rate increase; 0.15% rate increase for deposits of $75k+.

Availability: Residents of Salt Lake and Tooele Counties, Utah.

American United Federal Credit Union (America United) has been offering the 3.50% APY base rate on its 60-month Share Certificate for several months, but the rate has only become notable lately because the current rate climate. (FYI – you’ll probably be reading some variation on that statement from me, as I continue to assess available CD rates over the next few weeks.) The 3.50% APY base rate requires a minimum $500 opening deposit, with no stated balance cap; deposits of $75k+ earn an additional 15 bps. The 60-month Share Certificate offers a one-time Bump Option or an up-front 0.10% rate increase. A 60-month Share Certificate with a $75k deposit with the up-front rate increase will earn 3.75% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.50%$500-American United Federal Credit Union60 Month CD (w/ bump rate or initial rate increase option)
3.50%$500-American United Federal Credit Union60 Month IRA (w/ bump rate or initial rate increase option) (Traditional, Roth, CESA, SEP)
Rates as of May 20, 2019.

American United Share Certificates are available as IRAs (Traditional, Roth), earning the same APYs with the same funding requirements and options.

American United’s 36- and 48-month Share Certificates also offer competitive base rates, along with the Bump Option/0.10% rate increase and additional 15 bps for $75k+ deposits.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.35%$500-American United Federal Credit Union48 Month CD (w/ bump rate or initial rate increase option)
3.35%$500-American United Federal Credit Union48 Month IRA (w/ bump rate or initial rate increase option) (Traditional, Roth, CESA, SEP)
3.25%$500-American United Federal Credit Union36 Month CD (w/ bump rate or initial rate increase option)
3.25%$500-American United Federal Credit Union36 Month IRA (w/ bump rate or initial rate increase option) (Traditional, Roth, CESA, SEP)
Rates as of May 20, 2019.

As stated on American United’s Our Rates page,

36 to 60 months regular certificates have a “Bump Option,” allowing a
one-time rate change (to current published rates) during the life of the certificate.
The bump can be waived up front in exchange for an additional 0.10% rate increase.

Bump Option? Up-front additional 0.10% rate increase? If you’re not sure which to choose, you may find DA guest contributor, Charles Rechlin’s blog post on Step-Up and Step Rates CDs helpful.

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

The penalty we may impose will equal 180 days
dividends on the amount withdrawn subject to penalty.

Availability

Headquartered in West Jordan, Utah, American United Federal Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, or attend school in Tooele or Salt Lake Counties eligible to join.

Members, tribal administrators, and employees of the Morongo Band of Mission Indians and the Soboba Band of Luiseno Indians (California) also qualify for membership.

Joining American United and/or opening a CD can be done at any of nine Utah branches located in Draper, Grantsville, Kearns, Salt Lake City (4), Sandy, and West Jordan. There are also two California branches located in Cabazon and San Jancito that operate under the “First California” brand.

A minimum $5 deposit will open the Basic Savings account required to establish membership, but a minimum balance of $50 is required to earn dividends.

Since I last wrote about American United, the Credit Union's website has been re-vamped and the online application has been replaced by a “Contact Me” form.

American United participates in the CO-OP Shared Branch network, giving members access to more than 5,000 credit union branches and nearly 30,000 fee-free ATMs.

You can access your accounts and conduct business nationwide at any of the participating credit union branch locations in Utah within the CO-OP Shared Branch network, just as if you were at an American United Federal Credit Union branch.

Credit Union Overview

American United Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.64% (excellent) based on December 31, 2018 data. In the past year, American United has increased its total non-brokered assets by $17.6 million, an excellent annual growth rate of 9.98%. 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 21,200 members and assets in excess of $235 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 nine mergers occurring between 2007 and 2018. The credit unions that have joined American United are Blues Plus FCU, First Californian, Big Valley FCU, VAF FCU, Credit Union One, Newspaper Employees CU, Deseret New Employees CU, Grantsville FCU, and MidValley FCU.

How the Share Certificates Compare

When compared to 216 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 60-month Share Certificate APYs (up-front 0.10% increase and Bump Option) currently rank first and third, respectively.

Interest RateCD Length of TermCredit Union/Bank
3.60% APY60-Month Share Certificate (w/0.10% increase)American United Federal Credit Union
3.55% APY5-Year CDDesert Rivers Credit Union
3.50% APY60-Month Share Certificate (w/Bump Option)American United Federal Credit Union

When compared to 201 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 48-month Share Certificate APYs (up-front 0.10% increase and Bump Option) currently rank first and second, respectively.

Interest RateCD Length of TermCredit Union/Bank
3.45% APY48-Month Share Certificate (w/0.10% increase)American United Federal Credit Union
3.35% APY48-Month Share Certificate (w/Bump Option)American United Federal Credit Union
3.20% APY48-59 Month CDFirst National Bank of America

When compared to 240 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 36-month Share Certificate APYs (up-front 0.10% increase and Bump Option) currently rank first and third, respectively.

Interest RateCD Length of TermCredit Union/Bank
3.35% APY36-Month Share Certificate (w/0.10% increase)American United Federal Credit Union
3.30% APY36-Month CDUtah Heritage Credit Union
3.25% APY36-Month Share Certificate (w/Bump Option)American United Federal Credit Union

The above rates are accurate as of 5/13/2017.

To look for the best CD rates, either nationwide or state specific, please refer to our CD Rates Table page.

Related Pages: Salt Lake City CD rates, Los Angeles CD rates, 5-year CD rates

Comments


#1 - This comment has been removed for violating our comment policy.
Jim
Jim   |     |   Comment #2
So close 4% nationwide and we have a go.
#3 - This comment has been removed for violating our comment policy.
RonPaul
RonPaul   |     |   Comment #5
it says 3.5% plus .1% bonus, how do you get to 3.75%?
Anonymous
Anonymous   |     |   Comment #6
3.50% base rate + 0.15% for deposit of $75,000 or more + up-front 0.10% increase in lieu of bump option = 3.75%.
Att
Att   |     |   Comment #7
Availability: Residents of Salt Lake and Tooele Counties, Utah.
Robb
Robb   |     |   Comment #8
Ten Year note all the way down from 3.25% in Q4 2018 to 2.40% today quite the hit. Stocks under pressure the past couple of weeks as well. Odds for a rate cut have soared the past week:

https://www.bloomberg.com/news/articles/2019-05-13/market-odds-of-fed-easing-rise-as-china-u-s-spat-clouds-outlook
#10 - This comment has been removed for violating our comment policy.
#9 - This comment has been removed for violating our comment policy.
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