AmeriCU is headquartered in Rome and is the 13th largest credit union in the state of New York. It is also the 159th largest credit union in the nation. It was established in 1978 and as of December of 2020, it had grown to 314 employees and 143,914 members at 20 locations. AmeriCU's money market rates are 2X the national average, and it has a B+ health rating.
Field of Membership Restrictions
AmeriCU membership is open to those who live, work, worship, or attend school in the New York counties of Cayuga, Cortland, Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, or Oswego.
See current membership details
Good Rate And Easy To Open An Account
Found it in weekly update email.
Called AmeriCU and found out they use Check System instead of pulling a credit report for a CD. I joined Association For The Blind & Visually Impaired Of NNY for a $10 membership fee in order to qualify.
Their current special promotion is 2.75% APY 18 months CD with $1,000.00 minimum. It is not listed on their website.
Open an account easily online. Funded via wire transfer. ACH limit is $10,000.00
Beware of unsolicited email from AmeriCU via DocuSign if you qualify for a credit card or debit card. It looked very official since it was through DocuSign. I thought it was a document had to be signed as part of opening an account.
Reasonable Fees and Great Customer Support
I've been an Americu customer for a few years now and I can definitely say this credit union has the most reasonable fees out there, when comparing with other credit unions. One aspect that I miss is a more user friendly and efficient banking app, since I like to do some tasks such as checking balances online in order to save time, but it's a trade-off that I'm willing to accept when you take their reasonable fees and great customer support into consideration. I had to contact their customer support a few times due to a loss of a debit card, among other things, and they were always very friendly and efficient, they always took my concern with seriousness and solved my problem very fast.
Ok, But There Are Issues
Sure, enticing interest rate on your Savings account (but still under 1% return!) After 3years of being an account holder, primarily using checking, savings and bill payer features. Have had to ask about suspicious math, transacttions that did not show up on monthly statements, and math error # 3 showed up and I am done. I don't watch my bank that closely, and I caught SIMPLE math errors (200 x 3 = 600 right?...not according to Americu). Their bill payer requires 5-7 days notice to schedule a payment...other bill payer sites are 1 day! Yes really! Credit Unions I mean to say....luckily I have had 2 accounts in parallel and can clearly see the difference. americu, I wanted to give the medium size guy a chance... goodbye.
AVOID THEM IF YOU DON't WANT HEADACHES
THEIR CALL CENTER IS A JOKE. YOU WILL GET MISINFORMATION FROM THEM, YOU WILL BE TREATED WITHOUT RESPECT AND NEVER BE CONNECTED TO THE CREDIT UNION ITSELF. IT IS A GOOD IDEA TO GO ELSEWHERE. NOT WORTH THE EFFORT.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68433 |
| Year Chartered | 1978 |
| Employees | 314 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.27% |
| Return on Equity - YTD | 3.53% |
| Annual Interest Income | $65.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $2.21B$1.81B |
| Loans | Q4 2020vs Q4 2019 | $1.85B$1.24B |
| Deposits | Q4 2020vs Q4 2019 | $1.93B$1.59B |
| Equity Capital | Q4 2020vs Q4 2019 | $164.7MM$160.2MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $19.7MM$13.1MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $11.3MM$11.5MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $32.00K$158.00K |
