Cobalt Credit Union

Overview / Commentary
1712 Madison Ave
Council Bluffs, IA 51503

Cobalt Credit Union is headquartered in Council Bluffs and is the 5th largest credit union in the state of Iowa. It is also the 322nd largest credit union in the nation. It was established in 1946 and as of March of 2019, it had grown to 242 employees and 108,649 members at 31 locations. Cobalt Credit Union's CD rates are 2X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Cobalt Credit Union is open to those who live, work, attend school, or worship in the Nebraska counties of Cass, Dodge, Douglas, Lancaster, Sarpy, Saunders, or Washington, or the Iowa counties of Carroll, Crawford, Harrison, Ida, Mills, Monona, Pottawattamie, Sac, or Shelby. Employees/retirees of SpartanNash and their immediate family qualify for membership, as do immediate family members of current Cobalt Credit Union members.
See current membership details

Related Posts

Cobalt Credit Union (NE/IA) Adds 30-Month CD Special - 10/17/2018

Cobalt Credit Union (formerly SAC Federal Credit Union) has a new 30-month Certificate Special, which earns 3.30% APY. Minimum deposit is $1k, with no stated balance cap

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Reviews (6)

Caring and Friendly Customer Service is Greatly Appreciated

Every time I stop by this credit union to deposit money, open a new account, or ask questions that I may have, I have noticed one thing. Every staff member at this credit union that I have ever interacted with is very friendly, caring, and considerate. They are never too busy to help me and are willing to answer all questions I have in a way the helps me to understand what I did not understand. Recently, I went in to open a checking account. The employee who helped me explained every type of checking account that I could open, the advantages of each, and what she recommended. I decided on the one that she recommended but not because of any pressure of any sort from this employee. The smiling faces and friendliness of the staff at this credit union are what keeps me coming back and what caused me to open a CD here when I could have opened one at many other banks or credit unions. I highly recommend this credit union to anyone.

Reward Checking Account Changes As Of Apr 1, 2012

Posted by: nonac | Mar 23, 2012

It's not yet on SAC's web site but per an email from them changes are a coming to their reward checking account:


mportant Notice: These Changes will be effective April 1st, 2012

Balance Changes:

SAC FCU's High Yield Checking rate of 3.01% Annual Percentage Yield will be paid on balances up to $15,000 (Currently up to $25,000).  Rate is 0.15% APY on balances over $15,000.  0.10% APY applies to all balances if qualifications are not met.

Qualifications Changes Effective April 1st, 2012:

 - High Yield Checking Accounts opened on or after April 1st, 2012 will require a direct deposit to the account to qualify for the 3.01% APY Interest Rate.  Accounts opened prior to April 1, 2012 do not require direct deposit.
 - Make 12 Debit Card Transactions with net debit card transactions totaling a minimum of $120 per month.  Currently there is not a dollar limit requirement on total debit transactions.  This will apply to both existing and new accounts.
 - Enroll and Receive Electronic Statements (No Change).

SAC Credit Union

Posted by: McMaxi | Dec 7, 2017

I was in the military for over 20 years, and starting out (in Upper Michigan), it was the nearest bank to where I lived (on a military installation). As such, it was my bank of choice and we've been a member ever since. While the savings and checking accounts were nothing special, the customer service was outstanding. If ever there was a problem, it was immediately resolved with little more effort on my part other than to bring it to their attention. In fact, one situation that comes to mind is: we had gone in to the local branch to transfer some money from savings to checking, and the individual at the bank indicated that the money had been transferred and was available for use. From the bank, we immediately went to the commissary (grocery store on base) and shopped for groceries. Due to some oversight on the part of the bank, the money was not, in fact, available for immediate use, and it resulted in an overdrawn account. Now, this, in the eyes of the military, is "financial irresponsibility", and it is taken very seriously and can have repercussions for a military member. When I went back to the bank and inquired as to what had happened, the readily admitted their mistake and provided me with a letter from the bank manager indicating that it was not an error on my fault so that I would not get in trouble with my superiors.

Great overall

Posted by: jimbobby | Feb 11, 2015

SAC is a great credit union. I've been banking with them for over 20 years, and they are always coming out with something new or staying competitive. They have great rates on their accounts, and are very competitive. The only thing I don't like is their lack of mobile access, and their online services are pretty lacking overall. No way to open up new accounts or CDs through their website. It seems like you still need to do this in person for some reason. Also there is no way to do anything like online check scanning so you still need to go to a bank or an ATM to deposit a check, if you still get those things. I will stay with this credit union but I wish they would get some better tech.

Horrible Banking Experience

Posted by: Capanda | Nov 6, 2018

Had a bill run through my account, plenty of money in my account to cover my bill. Cobalt sent my bill back and then charged me a insufficient funds fee. Wouldnt correct the situation. Also had fraudulent charges on my account and instead of freezing my account they just kept letting the charges come in and refused to put a hold on my card and account.
I’ve also had issues where they have frozen my card for places that I shop at on a nearly daily basis when they were getting a new system. I had to have a new card made 5 times in 3 months.

Also was told I didn’t need to update my debit card or my atm card to my savings account. Went out of town and nearly all atms where I was staying were chip reading atms and wouldn’t take my cards. They still said they don’t need updated.

I wouldn’t bank with them. I know a few others this has happened too as well. Once my auto loan is paid off, I’ll be switching banks. Horrible customer service all around.

Employees There Are Horable!

Posted by: Anonymous | Aug 3, 2012

Home wreckers, spouse cheating on, and the management is worthless. Be cautious! Some of the FSO's there can't control their own financial you want them to "try" with yours???


Health Grade Components

NCUA #68695
Year Chartered1946
Primary Regulator
Profit Margin
Return on Assets - YTD0.55%
Return on Equity - YTD6.17%
Annual Interest Income$10.1MM
Assets and Liabilities
AssetsQ1 2019$994.3MM
LoansQ1 2019$860.9MM
DepositsQ1 2019$775.9MM
Equity CapitalQ1 2019$89.1MM
Loan Loss AllowanceQ1 2019$7.5MM
Unbacked Noncurrent LoansQ1 2019$8.1MM
Real Estate OwnedQ1 2019$20.00K
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Always verify rates and promotions with the bank or credit union. We are not Cobalt Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Cobalt Credit Union Savings Account Rates

0.50%--Holiday Club
0.50%--Vacation Club
0.50%--Health Savings
0.10%--Share Savings
0.10%--Business Share Savings

Cobalt Credit Union Money Market Rates

1.50%*$1m*-Business Money Market Account
OTHER TIERS: 0.10% $2.5k - $10k | 0.70% $10k - $100k | 1.10% $100k - $250k | 1.40% $250k - $1m
1.25%--Business Relationship Money Market
1.00%*$250k*-Share Draft Personal Premier Money Market
OTHER TIERS: 0.50% $25k - $100k | 0.75% $100k - $250k
0.25%*$100k*-Share Draft Personal Money Market
OTHER TIERS: 0.10% $2.5k - $25k | 0.15% $25k - $50k | 0.20% $50k - $100k
0.25%*$100k*-IRA Money Market
OTHER TIERS: 0.10% $2.5k - $25k | 0.15% $25k - $50k | 0.20% $50k - $100k

Cobalt Credit Union Checking Account Rates

2.24%*-$10kHigh Yield Checking
OTHER TIERS: 0.05% $10k+
2.24%*-$10kHigh Yield Plus Checking
OTHER TIERS: 0.05% $10k+
0.10%*$10k*-Business Interest Checking
OTHER TIERS: 0.05% $500 - $10k
0.05%$300-Workers Compensation Medicare Set-Aside Arrangement Checking
0.05%$500-Basic Business Checking Plus
0.05%$500-Value Plus Checking

Cobalt Credit Union CD Rates

2.85%*$100k*-Business 60 Month Term Certificate
OTHER TIERS: 2.75% $1k - $100k
2.70%*$100k*-60 Month Term Share Certificate
OTHER TIERS: 2.60% $1k - $100k
2.55%*$100k*-48 Month Term Share Certificate
OTHER TIERS: 2.45% $1k - $100k
2.55%*$100k*-Business 48 Month Term Certificate
OTHER TIERS: 2.45% $1k - $100k
2.45%*$100k*-36 Month Bump-Up Share Certificate Special
OTHER TIERS: 2.35% $1k - $100k
2.45%*$100k*-36 Month Term Share Certificate
OTHER TIERS: 2.35% $1k - $100k
2.45%*$100k*-Business 36 Month Term Certificate
OTHER TIERS: 2.35% $1k - $100k
2.35%*$100k*-18 Month Term Share Certificate
OTHER TIERS: 2.25% $1k - $100k
2.35%*$100k*-30 Month Term Share Certificate
OTHER TIERS: 2.25% $1k - $100k
2.35%*$100k*-Business 24 Month Term Certificate
OTHER TIERS: 2.25% $1k - $100k
2.25%*$100k*-24 Month Term Share Certificate
OTHER TIERS: 2.15% $1k - $100k
2.15%*$100k*-12 Month Term Certificate
OTHER TIERS: 2.05% $1k - $100k
1.95%*$100k*-Business 18 Month Term Certificate
OTHER TIERS: 1.85% $1k - $100k
1.60%*$100k*-6 Month Term Certificate
OTHER TIERS: 1.50% $1k - $100k
1.45%*$100k*-Business 12 Month Term Certificate
OTHER TIERS: 1.35% $1k - $100k
0.90%$25-24 Month Baby Bundle Term Certificate
0.85%*$100k*-Business 6 Month Term Certificate
OTHER TIERS: 0.80% $1k - $100k
0.60%$25-12 Month Baby Bundle Term Certificate
0.60%*$100k*-3 Month Term Certificate
OTHER TIERS: 0.50% $1k - $100k
0.25%*$100k*-Business 3 Month Term Certificate
OTHER TIERS: 0.20% $1k - $100k
0.15%$25k-1 Month Term Certificate
0.15%$25k-Business 1 Month Term Certificate

Cobalt Credit Union IRA Rates

2.70%*$100k*-60 Month IRA Term Share
OTHER TIERS: 2.60% $1k - $100k
2.55%*$100k*-48 Month IRA Term Share
OTHER TIERS: 2.45% $1k - $100k
2.45%*$100k*-36 Month IRA Term Share
OTHER TIERS: 2.35% $1k - $100k
2.45%*$100k*-36 Month Bump Up IRA Term Share Special
OTHER TIERS: 2.35% $1k - $100k
2.35%*$100k*-18 Month IRA Term Share
OTHER TIERS: 2.25% $1k - $100k
2.35%*$100k*-30 Month IRA Term Share
OTHER TIERS: 2.25% $1k - $100k
2.25%*$100k*-24 Month IRA Tern Share
OTHER TIERS: 2.15% $1k - $100k
2.15%*$100k*-12 Month IRA Term Share
OTHER TIERS: 2.05% $1k - $100k


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