With the recent addition of a new 18-month Certificate Special (earning up to 2.90% APY), AmeriCU is continuing to offer competitive rates. The minimum opening deposit is $1k, with no stated balance cap.
Like all AmeriCU’s certificates, the 18-month Certificate Special offers tiered APYs, which are determined using the MemberPlus levels (Core, Flex/Connect, Connect Plus, and Partner). Each level adds approximately five basis points per level.
AmeriCU automatically qualifies Member accounts for the appropriate MemberPlus level. The products contributing to the total account balances are: savings, checking, money market savings, certificates, auto loans, signature loans and mortgage loans including home equity loans and lines of credit and first mortgages.
Other Certificates Worth Noting
AmeriCU’s short-term Certificates are available as Jumbo Certificates, requiring a $100k minimum deposit. Of the three Jumbo Certificates, the 12-month is the most competitive, with the MemberPlus levels determining the APYs.
In August, I wrote about AmeriCU’s longer term Certificates, following across-the-board rate increases. Those tiered rates are still in effect today.
- 24-35 month, up to 3.00% APY
- 48-59 month, up to 3.20% APY
- 60-72 month, up to 3.30% APY
As stated on the Current Rates page, the Early Withdrawal Penalty reads as follows:
For accounts with terms of 12 months or longer, the amount of early withdrawal penalty for your account is all accrued dividends up to 180 days' dividends but not less than seven (7) days' dividends.
Note, partial early withdrawals are allowed, but the early withdrawal penalty is assessed on the entire amount of the CD, not the amount you're taking out early. Most credit unions assess an early withdrawal penalty on the amount withdrawn.
Headquartered in Rome, New York, AmeriCU’s field of membership (FOM) includes individuals who live, work, worship, or attend school in the New York counties of Cayuga, Cortland, Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, and Oswego.
Employees of 22 AmeriCU Business Partners are also eligible to join,
as are members of three associations – ABVINNY (Association for the Blind and Visually Impaired of Northern New York), ESF (State University of New York College of Environmental Science and Forestry), and NYSSA (New York State Snowmobile Association).
UPDATE 1/3/2020: According AmeriCU, "Members of ABVINNY, ESF, and NYSSA are not eligible to join the credit union, while employees of those organizations are." AmeriCU is in the process of removing the "I am a member of one of the following Trade Groups or Assocations" option from their online application.
Relatives and household members of current AmeriCU members or membership-eligible individuals are welcome to apply.
Complete and specific details are listed on the first page of AmeriCU's online application (time-sensitive, so I have not included a direct link).
Joining AmeriCU and/or opening a Certificate Special can be done online or at any of 20 New York branches located in Auburn, Camillus, Cazenovia, Cicero, Cortland, Fayetteville (2), Fort Drum, Herkimer, Liverpool, Lowville, Oneida, Rome (2), Syracuse (3), Utica, Watertown, and Yorkville.
You can open an account and become a member with just $5.
AmeriCU participates in the CO-OP Share Branch and,
is among 5,000+ Shared Branching locations that form a national network of Credit Union Service Centers. It’s a cooperative effort called shared branching that enables our members to make deposits, withdrawals, balance inquiries, transfers between accounts, and buy money orders at any participating credit union location.
Credit Union Overview
AmeriCU Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.86% (excellent) based on June 30, 2019 data. In the past year, AmeriCU has increased its total non-brokered deposits by $114.16 million, an excellent annual growth rate of 8.67%. Please refer to our financial overview of AmeriCU Credit Union (NCUA Charter # 68433) for more details.
AmeriCU Credit Union was chartered in 1950 as the Griffiss Employees Credit Union, exclusively serving civilian members of Griffiss Air Force Base in Rome (NY). Following two mergers, three name changes, and a change to a New York State charter, AmeriCU Credit Union emerged in 2000. AmeriCU is currently the 14th largest credit union in New York State, with nearly 135,000 members and assets in excess of $1.6 billion.
How the Certificate Special Compares
When compared to 201 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, AmeriCU Credit Union’s 18-month Certificate Special APYs currently rank in the top four.
The above rates are accurate as of 12/12/2019.
To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.