AmeriCU is headquartered in Rome and is the 14th largest credit union in the state of New York. It is also the 186th largest credit union in the nation. It was established in 1978 and as of March of 2019, it had grown to 302 employees and 133,935 members at 20 locations. AmeriCU has an A health rating.
Field of Membership Restrictions
AmeriCU membership is open to those who work, reside, attend school, or worship in Oswego, Onondaga, Cayuga, Madison, Jefferson, Lewis, Herkimer, Cortland Counties and select areas of Oneida County in New York.
See current membership details
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I love AmeriCu!
I switched from another bank when I realized how many fees I was earning to AmeriCU Credit Union 3 years ago and I've never gone back! The customer service is great; they are always willing to help you in any way they can!(even to the point of opening early so I could speak to a teller even though I could have waited and being incredibly patient and polite the whole time) Their customer service is one of the major positives about them, and I have never had a bad experience with them. Their fees are low and on the type of account I have they're basically non-existent, you can overdraft twice before you have to pay a penalty and if you have a extenuating explanation why, they try to accommodate you. Their website is very easy to use and I also have a debit card from them that I use frequently! To start an account, you only need to put $5 in your account, and that $5 keeps you a member until you withdraw it. However the one problem I have is that AmeriCU is only in a certain area (Central & Northern New York state), and if you are too far from their business radius you have to use an alternate credit union for any physical trips to the bank you may need. I have found some of their partners have terrible customer service, and they are not at all as helpful, so I really recommend using AmeriCU if you are within their radius, because I absolutely love them!
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.
Never Get A Mortgage With Them
We are in the process of selling and buying a new home and someone in our chain went through AmeriCU. They have held up our deal at multiple junctures in the process. Their bank attorney Nasto Law will not return calls and emails from our lawyer so we can not schedule a closing. All sides have been cleared to close for a week and they are still refusing to close. We are also facing an almost $600 fee to extend our loan interest rate lock. We have one account with AmeriCU and will be closing it as soon as this deal is done. If you use this lending institution you will be weeks behind in your closing and they will miss all deadlines. BEWARE!!
Useless Call Center!
If your a person who has direct deposit and does all of there banking through a computer then you should be fine. But pray you never have to call their call center. The most useless people I have ever known to be employed. Every time I've called their the person who answers the phone is absolutely helpless who then has to assign an "account specialist" to figure out a simple problem like what "xyz" fee is. And then once you talk to said account specialist they love to talk down to you. Or they'll tell you that they can't do anything on phone and you need to go into a branch office. What's point if even having a call center if they don't do anything for you? Don't waste your time.
The Last Place You Want To Go For Your Mortgage
AmeriCu is a small bank, and they will drag you for 6 months or more to close on a mortgage even if your credit is A1, or even if your loan amount is very low,
My friend has 750 credit score, he bought a single family home for $45,000 put 20% down payment, and the loan amount was just $36,000.
AmiriCU literally torture the guy, it was a never ending process and they kept asking him documents to no end, and every few weeks he had to provide them the current pay stubs again and again.
not only that but they also asked him many document that were not even mentioned on the commitment letter.
AmeriCU's closing attorneys Mr. John Nasto / Mike Oshins are even worse, each morning he is raising new requirements for the buyer and the SELLER, and drag the process for MONTHS.
If you want to save headache and do not want to waste your time, stay away from AmeriCU when it comes to mortgage. stick to the big banks.
Too Long For Mortgage Process
It could take them half a year to close, even on very small mortgages, and they keep adding requirements that were not on the commitment letter.
Data as of Q1 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68433 |
| Year Chartered | 1978 |
| Employees | 302 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.04% |
| Return on Equity - YTD | 0.41% |
| Annual Interest Income | $17.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2019vs Q1 2018 | $1.63B$1.51B |
| Loans | Q1 2019vs Q1 2018 | $1.15B$1.33B |
| Deposits | Q1 2019vs Q1 2018 | $1.41B$1.33B |
| Equity Capital | Q1 2019vs Q1 2018 | $150.6MM$146.0MM |
| Loan Loss Allowance | Q1 2019vs Q1 2018 | $11.6MM$7.9MM |
| Unbacked Noncurrent Loans | Q1 2019vs Q1 2018 | $8.9MM$10.5MM |
| Real Estate Owned | Q1 2019vs Q1 2018 | $862.00K$376.00K |
Rates for AmeriCU are currently being reviewed.
