Mountain America Credit Union

Overview / Commentary

www.macu.com

801-619-7349

9640 S State Street
Sandy, UT 84070

Mountain America Credit Union is a Utah-based, federally chartered credit union that serves hundreds of thousands of members through numerous branches located in the American West. The credit union provides a range of financial services and products, from deposit accounts and investment products to consumer and small business loans.

On its personal banking side, MACU offers checking, savings, money market, term deposit, and IRA accounts, as well as youth products. Its free checking account offer comes with free online banking, bill pay, and a MACU Visa debit card. The credit union’s saving account provides easy access to funds, a daily compounded interest rate, and quick fund transfer capabilities. Money market accounts have a minimum balance requirement and offer the earnings of a CD with the flexibility of a savings account. Term deposits functions as CDs and are available in term lengths ranging from 6 months to 5 years. MACU has a section of their website devoted to youth products and games. One account designed for teenagers offers quarterly member drawings for nice prizes.

Mountain America Credit Union online banking provides easy account integration into Quicken or other financial management software so members can budget and plan out their finances. The web-based banking platform also allows members to transfer funds, view copies of cleared checks, deposit checks from home, and pay bills. MACU’s mobile banking apps allow the same functions and provide a convenient and quick for members to manage their accounts on the run.

MACU was originally formed in 1934 as the Salt Lake Telephone Employees Credit Union in order to serve employees of the Utah-based telephone company. 50 years later, in 1984, the credit union merged with Postal Workers Credit Union and changed its name to Mountain America Credit Union to better reflect its growing membership geography. The credit union is headquartered in West Jordan, Utah.

Field of Membership Restrictions

Membership in Mountain America Credit Union is open to anyone through membership in the American Consumer Council. Membership is also open to residents of Salt Lake County, Duchesne County, and select areas of Wasatch and Uintah Counties in Utah.
See current membership details

MACU 12 Month Add-On And Standard CD’s 5.25% - 8/14/2024

Both now listed as “Limited Time” CD’s which if the past is any indication they will eventually fall some. The 12 Month Growth is an Add-On and only requires $5 to open. Capped @ 100k. The 12 Month Standard is a regular CD and requires $500 to open. I’ve been moving recently maturing funds into the regular CD’s which allows future funds to go into the growth option once rates fall. CME currently showing 100% odds of a 25 basis point cut at the September meeting.

Mountain America Growth (Add On) Cds Rate Changes - 2/1/2024

I have been maintaining three Mountain America growth CDs to protect my shorter term CDs in the event of rapid CD rate drops. I recently closed out my old growth CDs to reset the term lengths at the start of this year, since I have had them for around a year. Changes for the three I own are the following: 24 month CD 4.50% (was 4.75%) 36 month CD 4.20% (was 4.50%) 60 month CD 4.25% (was 4.20%) All three are in the money now compared to brokered CDs. You must add $10 each month to each growth CD. Limit is $100,000 in total for all growth CDs. If rates really drop across the board for direct and brokered CDs this year or next, these become a nice place to move money into from maturing CDs. The cost is minimal to maintain. The plan would be to move any maturing CDs up to 100k into the 2 year CD, when that matures, move it to the 3 year CD, and when that matures, move it into the 5 year CD. Gives you around ~4.34% (was ~4.48%) return over 5 years. Steve

View all posts from:

2024
2023
2022
Earlier

8/14 - MACU 12 Month Add-On And Standard CD’s 5.25%
2/1 - Mountain America Growth (Add On) Cds Rate Changes

7/6 - Standard 6 Months CD Went Up To 5.5 % APY
6/12 - Mountain America Credit Union 6-Month CD Has A Near Rate-Leading APY
6/1 - MACU - 6-Month CD Jumps To 5.50% From 5.00%
5/1 - MACU 12 Month CD Up To 5.15%
3/1 - Mountain America 5.25% CD Special Ends
2/13 - Mountain America Credit Union 12-Month Certificate Leads Rates Peloton
2/12 - Mountain America 12 Month Add-On CD Up To 5.25%
1/1 - MACU CD Growth Add On Up To 100K Total, $5 To Open, $10 A Month To Continue

11/7 - Mountain America Credit Union Has Competitive 24-Month CD Rate
11/1 - Mountain America CU - Market Leading 24-Month CD @ 4.50%
10/3 - Mountain America Credit Union Adds 18-Month Bump CD Promo
10/2 - Mountain America 18 Month Certificate - 4% APY
10/2 - 18-Month Bump Certificate Limited Time Offer: 4.00% APY¹
9/20 - Mountain America Credit Union Ups 60-Month CD/Growth CD Rates
9/19 - 60-Month Bump Certificate 3.25% APY* Limited Time Offer

Reviews (22)

Changed Our 60 Month Growth Cd From 4% To 4.25% Today

Posted by: steve_okc | Jan 1, 2023

I opened a membership & a 5yr Growth cd for my wife & me on December 27th @ 4%...After seeing the rate go from 4% to 4.25% today I went into my Mountain American account & set up 2 more Growth CDs & funded both at the same time in about 10 min. & did not need to call them, you can do this yourself from your account. I did not see a way to cancel them so I'll call in the morning to cancel the 2 -4% cd's

We have opened numerous cds at many Banks/CU's around the country from reading this DA site. Mountain America has been the fastest & easiest cd accounts we have ever opened...No trick questions about your past from 5 -10 years ago that you can't remember that makes you fail the application.

First, go to the online site & become a member. ( we are in Oklahoma so do not qualify for residence ) start the application at some point you can become an American Consumer Council member (free) If you are already a member it does not ask for a member # or proof then follow instructions for current personal info, name address, phone #, SS #, Occupation, DL# . You will need to take a picture of your DL front & back & then download them onto your computer, one last item they ask for is to take a selfie of yourself, also download it to the computer, they will ask you to download the pictures on the application... when you finish the application it will say you did not qualify & to call them ....DO NOT use the # they give you, here is the direct number & extension (1-855-808-3839 ext 84970 ) to the folks that ok & process your membership & setup any cd you want on the spot. explain to them you have filled out the membership online & it said to call in because of a problem, They will ask for your SS# ,date of birth to confirm its you .They will look up your application. you can then tell them what CDs you want to open along with a mandatory saving account. you can then fund it directly with them (you will need the account # & routing number from the bank you want it funded from ) When that's done you have a membership with savings & CDs all finished & active when you get off the phone.

There is $10 needed for a saving account plus if you want a Growth cd it is $5 for each one.The folks that process your info & setup your accounts are very polite and will take what time you need without being upset. It took me about 15 min to go online & put the info in for both of us & about 30 -45 minutes on the phone with them . ..Each person does need a separate membership & CDs if you are going over 100k in any amount of growth cds IF you just want standard Cds 1 membership is ok.
I know this is a long review but, I just wanted to help any folks on DA that are wanting to open a membership.....I cannot tell you how many folks have helped me over the years opening cds by leaving their reviews about "how to " with the FI they opened. So this is my part in helping the Deposit account community.

God Bless ,Steve

Application Rejected Without Reason

Posted by: edinperk | Feb 2, 2023

Update (2/6/23): Thanks steve_okc and chill08 for the encouragement! Received letter in the mail today indicating unable to verify eligibility as the cause. Re-applied selecting Join American Consumer Council and application was successful. Also, needed to select Open Savings Account instead of the Become a Member option to avoid the checking account getting added.
Without any local add-on CDs available I decided to apply to MACU. I joined the American Consumer Council to be eligible. All of the application selections on the MACU website indicate that I would be applying for both a basic savings account and a checking account (with $7/month charge), but I assumed I could quickly close the checking account afterward. I unlocked the 3 credit bureau accounts and submitted all of the personal information. The final screen simply displayed "Thank you. Unfortunately, we are unable to open an account for you." I've never been declined by a CU.

NO REPLY FROM MT AM CU FROM CUSTOMER SERVICE

Posted by: JINAYAKO | Aug 27, 2024

When you call no body picks up the call. On repeated calls, their 3RD Part picks up the call , just to take your Phone No. But still NO REPLY. WHY?? Even when we call during working hours but their Customer Service is SLEEPING ON THE JOB and getting PAID TO DO NOTHING.

Losing A 10+ Year Relationship Over $11

Posted by: koda626 | Feb 5, 2024

I have had my banking relationship and all accounts with MACU for over 10 years. When my son turned 16, I financed a used car for him. He would make his payments each month to me, and I would then make the payment on the loan. Once he turned 18, I had him get his own loan with me as a co-signer, so he could begin building his credit. Fast forward to December 2023 where my son is now married, has an 18-month-old girl, another on the way and both he and his wife are working full time. On December 14th, 2023, he traded his car in for something that was more reliable and economical.

On Wednesday January 3rd, Credit Karma emailed me saying I should review one of my accounts. Being in a similar industry, I understand the importance of a good credit score and I’ve been able to keep mine around 775. It reported a 30-day late payment on my son’s old car loan. Because of this, my credit score dropped nearly 80 points!! I look further and see its reporting a total of $11 was late. $11!!!! Neither of us received any type of phone call or email stating there was a missing payment. Not to mention, the car was paid off in December. Thinking this was an error, I reached out to the MACU service center. The person that assisted me was friendly and helpful. As she reviewed the past few months payments my son made, and she said he hadn’t been paying the full amount due. It was then that I remembered something he recently told me about his payments. After he refinanced the loan into his own name, his monthly payments dropped from what he had been paying me the previous two years. But he continued to pay the same amount each month until her recently realized he was way ahead on his payments. He still made monthly payments, but he paid less since he was so far ahead. I told the representative this and asked her to look at the entire payment history and she would see he was paying more each month for the past two years. She confirmed this and could then see what happened. She submitted it to be reviewed. For 3 weeks I hadn’t heard back, so I called the service center. About 25 minutes, I was told an email is being sent to me which will tell me their decision. After hanging up, I check the email and see that it was dated 1/5/2023 (2 days after my initial call). The email appears to be a generic response that basically states they reviewed the account and believe it is reporting correctly and that they are legally obligated to report as such. I don’t believe anyone looked at the full history of the account and what happened.

My son and I then went to discuss it with the Branch Manager in Saratoga Springs. After sharing the details, he said he would submit the request and would do what he could. On Monday morning I received a call from someone else at the branch who stated the branch manager had a personal matter come up. He proceeded to share basically the same information that was on the original generic email. There was nothing personable about it, nothing mentioned about the higher payments made for over two years, that the car is paid off or that we are talking about $11 that will be on both our credit reports for 7 years.

On the surface, I see what they see and can understand why someone would report it as they did. But I also know the whole story, I’ve seen the big picture, I know the history of the loan/customer, I can see their intentions and everything that happened. I don’t believe that anyone involved at MACU has truly taken the time to look at the big picture, review the entire loan history, or what's right for their customers.

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Health

B+

Data as of Q2 2024

Learn why bank health matters

Health Grade Components

Overall
NCUA #	24692
Year Chartered	1936
Employees	2968
Primary Regulator

Profit Margin
Return on Assets - YTD	0.86%
Return on Equity - YTD	9.43%
Annual Interest Income	$597.3MM

Assets and Liabilities
Assets	Q2 2024vs Q2 2023	$19.59B$17.31B
Loans	Q2 2024vs Q2 2023	$16.24B$14.9B
Deposits	Q2 2024vs Q2 2023	$17.18B$15.12B
Equity Capital	Q2 2024vs Q2 2023	$1.77B$1.59B
Loan Loss Allowance	Q2 2024vs Q2 2023	$176.4MM$135.5MM
Unbacked Noncurrent Loans	Q2 2024vs Q2 2023	$175.9MM$112.5MM
Real Estate Owned	Q2 2024vs Q2 2023	$807K$350K

APY	MIN	MAX	ACCOUNT NAME
5.25%	$5	$10k	Christmas Club Certificate
0.05%	$100	-	Primary Savings
0.05%	$0	-	Secondary Savings
0.05%	$100	-	Business Primary Savings
0.05%	$0	-	Business Secondary Savings
0.05%	$25	-	Youth Savings
0.05%	$25	-	Teen Savings

APY	MIN	MAX	ACCOUNT NAME
4.65%^*	$1m^*	-	Money Market
OTHER TIERS: 0.50% → $0 - $2.5k \| 1.50% → $2.5k - $10k \| 1.70% → $10k - $25k \| 2.25% → $25k - $50k \| 2.65% → $50k - $100k \| 3.40% → $100k - $250k \| 4.25% → $250k - $1m
4.65%^*	$1m^*	-	Money Market IRA
OTHER TIERS: 0.50% → $0 - $2.5k \| 1.50% → $2.5k - $10k \| 1.70% → $10k - $25k \| 2.25% → $25k - $50k \| 2.65% → $50k - $100k \| 3.40% → $100k - $250k \| 4.25% → $250k - $1m
4.65%^*	$1m^*	-	Business Money Market
OTHER TIERS: 0.50% → $0 - $2.5k \| 1.50% → $2.5k - $10k \| 1.70% → $10k - $25k \| 2.25% → $25k - $50k \| 2.65% → $50k - $100k \| 3.40% → $100k - $250k \| 4.25% → $250k - $1m

APY	MIN	MAX	ACCOUNT NAME
3.51%^*	$250k^*	-	Business Sweep
OTHER TIERS: 1.50% → $0 - $50k \| 1.75% → $50k - $100k \| 2.00% → $100k - $250k
0.50%^*	$20k^*	-	Business Growth Checking
OTHER TIERS: 0.25% → $1k - $20k

APY	MIN	MAX	ACCOUNT NAME
5.35%	$5	$100k	12 Month Youth Certificate
5.25%	$500	-	6 Month Certificate
5.25%	$5	$100k	6 Month Growth CD
5.25%	$500	-	12 Month Certificate Special
5.25%	$5	$100k	12 Month Growth CD Special
4.60%	$5	$100k	24 Month Youth Certificate
4.50%	$500	-	24 Month Certificate
4.50%	$500	-	18 Month Certificate
4.50%	$5	$100k	18 Month Growth CD
4.50%	$5	$100k	24 Month Growth CD
4.35%	$5	$100k	60 Month Youth Certificate
4.30%	$5	$100k	36 Month Youth Certificate
4.30%	$5	$100k	48 Month Youth Certificate
4.25%	$500	-	60 Month Certificate
4.25%	$5	$100k	60 Month Growth CD
4.20%	$500	-	30 Month Certificate
4.20%	$5	$100k	30 Month Growth CD
4.20%	$5	$100k	36 Month Growth CD
4.20%	$5	$100k	48 Month Growth CD
4.20%	$500	-	36 Month Certificate
4.20%	$500	-	48 Month Certificate

Mountain America Credit Union

Field of Membership Restrictions

Related Posts

Changed Our 60 Month Growth Cd From 4% To 4.25% Today

Application Rejected Without Reason

NO REPLY FROM MT AM CU FROM CUSTOMER SERVICE

Losing A 10+ Year Relationship Over $11

Data as of Q2 2024

Health Grade Components

Mountain America Credit Union Savings Account Rates

Mountain America Credit Union Money Market Rates

Mountain America Credit Union Checking Account Rates

Mountain America Credit Union CD Rates

Mountain America Credit Union IRA Rates

Availability

Salt Lake City Area

APY	MIN	MAX	ACCOUNT NAME
5.25%	$500	-	6 Month IRA
5.25%	$500	-	12 Month IRA Special
4.50%	$500	-	18 Month IRA
4.50%	$500	-	24 Month IRA
4.25%	$500	-	60 Month IRA
4.20%	$500	-	30 Month IRA
4.20%	$500	-	36 Month IRA
4.20%	$500	-	48 Month IRA