America's Credit Union (ACU) has a 12-month Standard CD (2.38% APY) that’s only become competitive recently. While the 2.38% APY has been in effect for almost a year, that rate started looking good in the last couple of weeks. The minimum opening deposit is $500, with no stated balance cap.
As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:
The early withdrawal penalty is the most recent 90 days of dividends earned or would have been earned, or the total dividends earned since the date of issuance or renewal, whichever is less. If the dividend has already been paid, the penalty will be deducted from the principal.
Funding can be done by ACH, wire transfer, or check. Maturing funds will be distributed through a cashier’s check or transferred into an ACU Regular Share account.
Affinity Plus Checking
ACU unveiled its new rewards checking account, Affinity Plus Checking, about a year ago. The initial 2.00% APY on qualifying balances up to $25k is still in effect. In addition, you’ll earn 10¢ each time your debit card is used. Qualify balances over $25k and non-qualifying balances do not earn any interest.
The qualifying requirements are straightforward:
- At least 15 debit card transactions (minimum $5) per month.
- Log into ACU Online or ACU Mobile App at least once per month.
- Sign up for and receive e-statements.
ATM fees will be reimbursed up to $10 per month on qualifying balances. There is a $7 monthly maintenance fee that cannot be waived. ACU justifies the $7 fee this way:
Why charge $7 for what used to be a free account?
To offer all the benefits of Affinity Plus Checking we need members to be engaged in our services. When they are, we can extend substantial rates and savings. The service charge is there so members who choose not to engage with the credit union can still take advantage of the benefits.
Why pay $13 dollars a month for cell phone coverage and another $10 per month for identity theft when we can use ACU’s cooperative buying power to get it all for $7 per month.
Headquartered in DuPont, Washington, America’s Credit Union offers membership to all U.S. citizens and resident aliens by making an $8 donation to the Pacific Northwest Consumer Council, a branch of the American Consumer Council.
I looked at the online application, I saw four options under “I qualify for membership because …”, none of which were the Pacific Northwest Consumer Council. My next step was click on everything and I found it under the first option, “I live, work, worship, or attend school in the Pacific Northwest.”
I am a resident of Puget Sound, DuPont, NW Landing, or I would like to make a donation to the Pacific Northwest Consumer Council to become a member.
According to ACU’s Join Us page, anyone who lives in the Pacific Northwest is eligible for membership. CSR stated that Pacific Northwest is generously defined as Washington, Oregon, northern California, and Idaho.
Members of the United States Armed Forces (active, retired, or reservist) and active/retired civil service members qualify for membership, as do members of the Association of the United States Army (AUSA).
Family members (spouse, parent, child, grandchild, sibling, aunt/uncle, cousin) of current ACU members are welcome to apply.
Joining America’s Credit Union can be done online or at any of 14 Washington branches located in Dupont, Graham, Joint Base Lewis-McChord (2) Lacey, Lakewood (2), Puyallup, Spanaway (2), Tacoma (3) and University Place.
A minimum deposit of $25 to your Regular Savings account will be required.
While savings, checking, and Money Market accounts can be opened online, opening any CD must be done either in-branch or over the phone. CSR suggested submitting a membership online application, then calling ACU to open the CD.
ACU’s branches are mainly in Pierce and Thurston Counties, but,
Through the CO-OP ATM and Shared Branching networks, we provide you with more than 30,000 ATMs and 5,300 branch locations nationwide where you can conduct your ACU transactions.
Credit Union Overview
America’s Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 3.82% (excellent), based on June 30, 2019 data. ACU has an average capitalization level (9.16%), the result of holding $578.78 million in assets with $53.0 million in equity. Please refer to our financial overview of America’s Credit Union (NCUA Charter # 9373) for more details.
America’s Credit Union was founded in 1954 as the Fort Lewis Federal Credit Union by a small group of civilian employees of the U.S. Government. Just like every other successful credit union, ACU started small as it met the needs of a select group, and gradually grew to become Washington’s 23rd largest credit union, with more than 43,300 members and assets in excess of $578 million.
The following quote from ACU’s website describes a rather amazing transformation:
It’s amazing how times have changed for the credit union and our members. For instance, in 1964 the credit union accepted two Angus Cows valued at $150 each and two Hereford Cows valued at $200 each as collateral on a loan for a 1957 Plymouth. Now, our members conduct transactions and deposit checks through their mobile phone or tablet.
How the Standard CD Compares
When compared to 224 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, America’s Credit Union's 12-month CD APY currently ranks first.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|2.38% APY||12-Month Standard CD||America’s Credit Union|
|2.35% APY||12-Month CD||Sallie Mae Bank|
|2.32% APY||12-Month Certificate||State Department Federal Credit Union|
The above rates are accurate as of 10/28/2019.
To look for the best CD rates, either nationwide or state specific, please refer to our CD Rates Table page.