AmeriCU is headquartered in Rome and is the 11th largest credit union in the state of New York. It is also the 148th largest credit union in the nation. It was established in 1978 and as of September of 2022, it had grown to 382 employees and 160,562 members at 19 locations. AmeriCU's CD rates are 4X 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 Q3 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68433 |
| Year Chartered | 1978 |
| Employees | 382 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.45% |
| Return on Equity - YTD | 20.83% |
| Annual Interest Income | $71.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $2.71B$2.44B |
| Loans | Q3 2022vs Q3 2021 | $2.21B$1.99B |
| Deposits | Q3 2022vs Q3 2021 | $2.29B$2.20B |
| Equity Capital | Q3 2022vs Q3 2021 | $184.1MM$186.8MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $24.3MM$22.7MM |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $15.2MM$12.4MM |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$715.00K |
