Mountain America Credit Union Ups 24-Month CD To 3.25% APY


Deal Summary: 24-month Term Deposit, 3.25% APY, $500 minimum deposit. 24-month Term Deposit Plus, 3.25% APY, $5 minimum/$100k maximum deposit, minimum $10 automatic monthly deposit.

Availability: Easy membership requirement

For quite some time, Mountain America Credit Union (MACU) 3-year and 5-year Term Deposits (MACU’s version of CDs) have been at or near the top of their respective CD term category, with the shorter-term TDs lagging in the rates race. While the 3- and 5-year TD rates are still competitive, the APYs have remained static since last fall.

Following yesterday's addition of 50 bps, the 24-month TD (3.25% APY) has also become a rate leader. Like all MACU TDs, the 24-month can be opened with a $500 minimum deposit, with no stated balance cap.

3.51%$500-Mountain America Credit Union5 Year Term Deposit
3.35%$500-Mountain America Credit Union3 Year Term Deposit
3.25%$500-Mountain America Credit Union24 Month Term Deposit
Rates as of March 16, 2019.

Youth Term Deposit

MACU also offers Youth Term Deposits (YTD) for members aged 27 and younger. The YTDs have historically had higher APYs than their TD counterparts, and currently offer an additional 24-25 bps. The YTDs only require a $5 (yes, five) minimum opening deposit and additional deposits up to $10k per year are allowed. On the account owner’s 28th birthday, the YTD “automatically renews as a normal term deposit.”

3.75%$5-Mountain America Credit Union60 Month Youth Term Deposit
3.60%$5-Mountain America Credit Union36 Month Youth Term Deposit
3.51%$5-Mountain America Credit Union24 Month Youth Term Deposit
Rates as of March 16, 2019.

Term Deposit Plus

About 18 months ago, MACU unveiled its Term Deposit Plus (TDP) accounts, which are essentially an add-on version of their Term Deposit accounts. The TDPs earn the same APYs as the Term Deposits, but "make saving for long-term goals easy." The TDP promo page outlines how these new accounts work.

  • Only $5 to open account
  • Higher dividends earnings than a traditional savings account
  • Funds can be added at any time
  • Terms from 6 months to 5 years
  • Automated monthly deposit of at least $10 required

The minimum $10 automatic monthly deposit can come from another MACU account or from an outside source, such as a direct deposit or a transfer from another financial institution. The operative phrase is “automatic monthly deposit,” with the source of the deposit not a determinant.

3.51%$5$100kMountain America Credit Union5 Year Term Deposit Plus
3.35%$5$100kMountain America Credit Union3 Year Term Deposit Plus
3.25%$5$100kMountain America Credit Union24 Month Term Deposit Plus
Rates as of March 16, 2019.

Funds can be added at any time, in any amount but,

Each member is limited to $100,000 in any one or combination of Term Deposit Plus accounts.

Early Withdrawal Penalty

The TDPs and YTDs are subject to the same Early Withdrawal Penalty (EWP) as the regular Term Deposits, but the potential severity of MACU's EWP should not be overlooked.

If your term deposit has an original maturity of more than 12 months and less than 48 months, the penalty may equal 180 days dividends on the full amount of the term deposit.

The bolded “on the full amount” is an edit on my part to ensure it’s not ignored. The penalty is not based on the amount being withdrawn, but on the full amount of the term deposit. It certainly makes a partial withdrawal, particularly a small one, rather expensive.

Thanks to DA reader, Bowman, for his Forum post about MACU’s latest rate increase.


Headquartered in West Jordan, Utah, Mountain America Credit Union's field of membership (FOM) provides a way for almost anyone with a valid Social Security number to join.

Easy Membership: The American Consumer Council, one of MACU’s Affiliated Associations, can be joined by anyone with a $5 membership fee, and qualifies for MACU membership.

Residency: Residents of the Utah counties of Salt Lake, Suchesne, Wasatch (census tract 940300), or Unitah (census tract 940100 or 940200) are eligible to join. In the past year, the FOM has expanded, with the residents of Boise, Elmore, Gem, Owyhee, and Valley Counties in Idaho also qualifying for membership.

Relationship: Family members (parent, child, spouse, sibling, grandparent, grandchild, including step- and adopted) of an existing member are membership eligible. Individuals “living with or under the same roof” with current MACU membership are now also welcome to apply.

Affiliation: Employees or volunteers of an MACU SEG or Affiliated Association also qualify.

Joining Mountain American Credit Union and/or opening a Term Deposit can be done online, or at any of 97 full-service branches located in Arizona (5), Idaho (15), New Mexico (2), Nevada (4) and Utah (71).

Credit Union Overview

Mountain America Credit Union has an overall health grade of "A" at, with a Texas Ratio of 5.46% (excellent) based on September 30, 2018 data. In the past year, MACU has increased its total non-brokered deposits by $914.27 million, an excellent annual growth rate of 16.48%. Please refer to our financial overview of Mountain America Credit Union (NCUA Charter #24692) for more details.

Founded in 19934, Mountain America Credit Union was originally known as the Salt Lake Telephone Employees Credit Union. Following the 1984 merger with the Postal Workers Credit Union, the name was changed to Mountain America Credit Union. MACU merged with the Utah State Credit Union in 1988, becoming the second largest credit union in Utah. In February 2015, Idaho-based Les Boise Credit Union joined forces with MACU, extending the Credit Union’s footprint into the Boise area. The latest merger occurred in April 2019, when Dugway Federal Credit Union (Utah) became part of the MACU family. Mountain America Credit Union is currently the 18th largest credit union in the country, with more than 796,000 members and assets in excess of $8 billion.

How the Term Deposits Compare

When compared to 215 similar length-of-term CDs tracked by that are available nationwide, Mountain America Credit Union's 24-month Term Deposit APY currently shares the top spot with NASA Federal Credit Union’s 25-month Share Certificate Special.

Interest RateAccount NameCredit Union/Bank
3.25% APY24-Month Term DepositMountain America Credit Union
3.20% APY2-Year Senior Citizen CDState Bank of India (IL)
3.09% APY2-Year CDState Bank of India

When compared to 204 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationwide, Mountain America Credit Union's 3-year Term Deposit APY currently shares the top spot with State Bank of India (IL)’s 3-year Senior Citizen CD.

Interest RateAccount NameCredit Union/Bank
3.35% APY3-Year Term Deposit Mountain America Credit Union
3.25% APY41-Month Bump-Up CD SpecialVeridian Credit Union
3.24% APY2-Year CDState Bank of India

When compared to 182 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationwide, Mountain America Credit Union's 5-year Term Deposit APY currently ranks second.

Interest RateAccount NameCredit Union/Bank
3.56% APY5-Year Senior Citizen CDState Bank of India (IL)
3.51% APY5-Year Term Deposit Mountain America Credit Union
3.50% APY60-Month CDUtah First Federal Credit Utah

How the Term Deposit Plus Compares

Although limited by the $100k balance cap, the 2-year (3.25% APY), 3-year (3.35% APY), and 5-year (3.51% APY) TDP accounts still offer excellent rates. The TDP’s add-on option transforms it into a savings account/CD hybrid, which offers a higher rate than any other traditional savings (or money market) account on one hand, but severely limits withdrawals on the other.

In Searching for the Elusive Add-On CD, DA contributor, Charles Rechlin described the ideal features of an add-on CD, and MACU’s TDP possesses three out of the four features. If the TDP wasn't limited by the $100k maximum deposit, it would be a perfect add-on CD.

The above rates are accurate as of 2/21/2019.

To look for the best CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.

Related Pages: Phoenix CD rates, Boise CD rates, Idaho Falls CD rates, Twin Falls CD rates, Salt Lake City CD rates, Albuquerque CD rates, Reno CD rates, Las Vegas CD rates, 5-year CD rates, nationwide deals

bill   |     |   Comment #1
account must be opened in person
anonymous   |     |   Comment #2
I've opened numerous accounts at Mountain America. All accounts were opened online or by telephone. Question to bill -- how did you learn that this can no longer be done?
Jean   |     |   Comment #6
I checked their website last night, tried to open the 24 month CD, and it said "apply in person."
Bowman   |     |   Comment #7
You'll need to setup your CU membership first. Once you are a member, you will have access to their online system and can open the CD easily.
Jean   |     |   Comment #13
Thank you Bowman. I just applied the correct way.
dissapointed   |     |   Comment #90
I disagree. Mountain America has the absolute worst service. anf they take a minimum of three days to get to you
Jean   |     |   Comment #12
My apologies, I went to the website again this morning and now the online application process is working. You have to start with the basic savjngs acct. My appication is pending, and they say I will receive notice in 2 days. I hope to open the 24 month plus CD. It's nice that you can add money at any time, up to 100k.
Bowman   |     |   Comment #3
I am out of their market area and was able to setup my CU membership, share account and two term deposits online and over the phone. This was last month.
ddbrege   |     |   Comment #9
Unless they just recently changed that is not true. I opened one most recently just before Christmas and thinking about doing another. All done either online or with a quick phone call and I'm in NY. If I find out differently I will be sure to post a followup for all.
james   |     |   Comment #42
Do you know if interest for 1099 posted at maturity or every year?
ddbrege   |     |   Comment #43
My experience is that MACU like most every other financial institution that I have other done business with issues 1099's for any interest or dividends within your account in the year they are earned.
CuriousDave   |     |   Comment #52
It depends partly on the financila institutions's policy and partly on tax law. The law is that income made available to the owner to be drawn upon is taxed in the year it first becomes available. If the institution's policy is that interest is credited to the CD account, say, every month, then whatever interest is credited on the CD for the year is reported on Form 1099-INT. As an example, if the CD term is 12 months, and the institution's policy is to credit interest on the CD every calendar quarter, then the 2019 Form 1099 will report the amounts credited for all four quarters of 2019, beginning 2/22/19 and ending 12/31/19. Interest earned for the remaining portion of the 12 months, from 1/1/2020 through 2/22/202, will be reported on a 2020 Form 1099. If the institution's policy is to credit interest on a 12 month CD only upon maturity, then there will be no 1099 for 2019 and the full 12 months of interest will be reported on the 2020 Form 1099.
Rickny   |     |   Comment #4
Yesterday I was on phone with Mountain America to join. Submitted application on line Tuesday. They called Wednesday to verify info and the usual questions regarding where I lived , car etc. Had to take a picture of my drivers license and SS card with my smart phone and send to them. They have to process the app and when completed the rep camm me and will open the CD I want and allow me to ACH funds. I live in NY, The bank is in Utath.
anonxx   |     |   Comment #10
is the ssn & d.license sent thru their secure message system (if they have one) during the initial online application or by regular email? thanks
Get Real
Get Real   |     |   Comment #17
#10 I sent via email directly to the top I spoke to
Interested   |     |   Comment #21
I uploaded the docs via their online secure message system. Rather do that than via email.
Jennifer   |     |   Comment #5
I don't live anywhere near Utah and I opened mine without going in person. Please note that sometimes when you phone MACU the call goes to their "overflow" call center and I am not even sure if those people work for MACU or not. Regardless, they don't always seem to have the training and knowledge that some of the other MACU reps have. At times, they have to even have someone more else call me back to handle my request. Sometimes I make a point of phoning them 1 minute after they open in the morning, because at that time, my call typically does not go to the overflow center. I simply adore Mountain America.
Duck   |     |   Comment #8
bill I would look at this again your mistaken I have opened numerous acct. @Mountain for myself an family online an over phone. I opened one of these online yesterday without incident
Question   |     |   Comment #11
For those with the add on option, do they have to set up the automatic deposit or can I do that myself via their online portal?
Blake_Utah   |     |   Comment #20
You can transfer the money on your own. That's how I do mine.
HighYield   |     |   Comment #14
My thanks to Ken and others for posting the information about Mountain America CU. The add-on CDs sound near perfect for my needs and financial situation. Still need to read the fine print about ACH policies, etc. Sounds too good to be true, and a great interest rate.

Can I add any amount I want each month to the Plus CD? Any ACH restrictions on deposits or withdrawals at maturity? I'm going to apply and see what happens.
Bowman   |     |   Comment #18
You can add any amount you want, but there is the cap of 100k total. You can ACH directly into to the term deposit, or into your share account and then transfer into the term deposit. I believe the ACH limit may be 25k per day, but I'm not positive on that.
111   |     |   Comment #19
#14, when you ask "Can I add any amount I want each month to the Plus CD?" - don't forget that -
1) Each of these CDs must have "a minimum $10 automatic monthly deposit", and,
2) "Each member is limited to $100,000 in any one or combination of Term Deposit Plus accounts."
With those caveats, I think you can.
HighYield   |     |   Comment #23
Thank you Bowman & 111. Sounds exactly what I am looking for. I submitted my application.

Just received phone call from account rep. Lengthy process. He asked 5 questions to verify info in my credit report. And I will receive an email requesting me to send photos of DL, SS, and utility bill. After that is received, another email or call will come.

I guess they are pretty thorough. And he wanted to know if I'm a member of the American Consumer Council, which I am when I tried to join Andrews. I think all this will be worth it, once I get in. You only need 5 dollars to open the membership and CD Term Plus.
IslandGirl   |     |   Comment #15
"New members, visit your nearest branch to open an account."
IslandGirl   |     |   Comment #16
The work-around is what Jean (Comment #12) mentioned. Opening the savings account first, wait until they approve your membership and then apply for the CD. The message on their website does lead one to assume that you have to physically go to a branch.
CD_Guy   |     |   Comment #22

MACU is offering very good CD rates right now and their financial health rating is very good,
but I found that opening a CD with them from out of state to be very time consuming and frustrating.
I have opened 12 CDs at different banks/credit unions in the past 6 months and MACU does everthing differently. Their CDs are called Term Deposits, you mail your check to the Reseach Dept instead of Member Service Dept or Customer Service Dept, you need to send the a photo of your Social Security Card, front and back, they give you a customer service representative, but you can call 20 times and she might answer the phone 1 time out of 20. It can take 10 minutes to get Customer Service to answer the phone, and when they do, it is often a farmed out service full of employees who don't know the answer to any of your questions.

My advice is this - if another bank or credit union with good financial health is offering a similar rate to MACU, you should go to the other credit union - much less hassle and aggravation.
Mak   |     |   Comment #24
I never had to show my social security card and my son just opened a new membership on line with myself as joint and it was easy no social security card needed just the social security number, 2 days later they called and we just signed the docusign.... next they will give us the acct# so we can fund it. I'm pretty sure they have a shared branching.
HighYield   |     |   Comment #25
Mak: Per their email request, I just sent a photo of SS card and other documents. I don't know why some applicants have to send it, and some don't. Now waiting to hear back for the NEXT step. And then the NEXT step. I think he said there are 2 or 3 more.

It definitely is a long process with MACU. But where else can you get into a new CD for only 5 bucks? Great for young people just starting out (or poor old guys like me).
Jennifer   |     |   Comment #26
I was never asked for a copy of my social security card. However, I opened my MACU account more than a year ago. Either they have changed the policy or it might be dependent upon whether their automated online verification system is able to verify at the time of application. If not, I know some credit unions make you mail in certain items to manually verify.
HighYield   |     |   Comment #27
Yeah, it's really not a big deal. And maybe they are just being more thorough and cautious these days? (Live Oak Bank wanted pictures, too.) Maybe it's because I'm retired? Who knows. Credit history is excellent with high score. I'm tempted to lock up that 5-yr @3.51%, and add to it over the years. And definitely doing the 2-yr @3.25. (I might have to say bye to PenFed.)
HighYield   |     |   Comment #28
Another email just came, with a link enclosed, directing me to documents to e-sign. They will be reviewed. Ok, what's the NEXT step? Waiting.....
HighYield   |     |   Comment #29
Now I got another phone call, and another email. This one gave me my new acct number, and directs me to the online site to logon, and pay my 5 bucks to join. I suggest anyone considering this credit union, free up one whole day to get thru this membership process.
Anon`   |     |   Comment #41
May I ask you what method you use to e-sign?
HighYield   |     |   Comment #45
The document on the website has a little box thay says "Sign." Just click on that. Done.
NCSaver   |     |   Comment #30
I got the 5 year Term Deposit Plus CD about one week ago and am glad I did, just in case rates continue to trend downward. So grateful for the information shared on this site! My spouse opened one as well. It took a few phone calls to ensure everything was set up correctly, but the CSRs were helpful and everything was open within 3-4 days. One note - as others have stated, there is a $100K cap... and I think that is the most one person can have in any combination of Term Deposit Plus CDs. (From website, "Each member is limited to $100,000 in any one or combination of Term Deposit Plus accounts.") So, I think if you have a 2 year and a 5 year (smart thinking), it's just important to be aware that the total across the two of these CDs can't exceed 100K. I think I have that right. If I am mistaken, someone please correct me. Just sharing, so that folks who are prioritizing the higher rate (vs the term) can ensure that they allocate appropriately into the Term Plus CDs with different durations.
HighYield   |     |   Comment #31
You are correct NCSaver. 100k max for any one, or a combo of the Term Plus CDs. If someone wants to put in more, just buy the regular CDs.

Now I'm waiting for my linked checking acct to be verified, before I can transfer and pay the 5 bucks membership fee. That could take up to 2 days, it said. You'd think they would let us pay the $5 with a credit card. This application process is definitely the LONGEST I've ever been thru.
NCSaver   |     |   Comment #32
Interesting... they took my bank information over the phone and initiated the initial transfer (for the membership) for me... and also set up the monthly $10 transfers to begin after that. But it sounds like everyone's experience has been a little different, depending on the CSR who helps them. Unlike others I was not required to send proof of identity either. It still took a few phone calls to work everything out but it ultimately did. Hang in there!
HighYield   |     |   Comment #34
I'm hangin! :-) I'm sure you guys are correct. I had a little difficulty understanding the rep. Now, how to set up a beneficiary.... I'll tackle that one at a later date. I'd like to do everything myself from the acct page ("Dashboard") instead of calling them.

It's been a hard day at the office for this old dude.
Bowman   |     |   Comment #33
They let me transfer $500 via phone to set up the account. I had to do the test deposits after that to setup ACH.
Blake_Utah   |     |   Comment #51
I opened a new account with them online last week and the whole process took about five minutes. It might help that I live in Salt Lake City but it was by far the easiest/fastest account opening I've had at any bank or CU.
Duck   |     |   Comment #38
CD_Guy I personally have banked here over doz yrs an I have never not gotten an answer from the representative I have talked to @Macu they are well informed are always courteous when I have called. I'm from NY everyone that knows me would say I'm quick to jump an I have never had to go any further than the 1stCS that I talk to when on the phone with them. I recently passed on MyCommunitycu in Allen to open another at this CU
bbb82   |     |   Comment #35
They also have a Christmas Club account at 2.6% for a $5 minimum.
Roush   |     |   Comment #36
Anyone know the EWP on the 5-year Term Deposits? TIA
HighYield   |     |   Comment #37
The EWP on the 5-yr is a whopping 365 days.
Anon1   |     |   Comment #39
Joining the credit union and opening an initial accont is quite time consuming and complex, or at least that was my experience. Many steps, multiple required phone calls, and even more steps (including a notarized document) if you don't want to email them an image of your SSN. But once you are a member, you can open new CDs online yourself instantly. Once you make it past the initial hassle, it's very convenient.
HighYield   |     |   Comment #40
I'd tell people to pop some popcorn, or get a 6-pak because it's going to be a long day. Or half day. And keep the phone right with you. If you miss their call, that's just going to prolong the agony. I had questions for my rep after we disconnected, and never could get ahold of him again. He moved on to other customers.

Is all this frustration even worth 3.5%? Still waiting for the darn test deposits to arrive in my checking acct. And if you really want some excitement, try reading thru the 35 pages of terms & disclosures! Sorry, but I got no patience with all this complicated stuff. And yeah, I didn't like having to unfreeze my credit reports, and email photos of my ID.
serrp   |     |   Comment #44
Do you know which agency they used to obtain your credit report?
HighYield   |     |   Comment #46
#44 -- I do not. Sorry. Maybe they will tell you if you call.
Dunmovin   |     |   Comment #47
High... you unfreezed all your credit reports not knowing which was going to be accessed...interesting
HighYield   |     |   Comment #48
#47-- I also applied at other banks or cu's, and they wanted to check 2 credit agencies. Wouldn't tell me which ones. If you got a better idea I'm all ears.
HighYield   |     |   Comment #49
Very easy to re-freeze last night. It took all of 5 minutes. If you want the BIG bucks, you gotta jump through the hoops. :-)))
Dunmovin   |     |   Comment #50
My CU I joined (in person) last year wanted me to unfreeze and I told them no. They said they needed to verify Soc Sec info I gave them. I told them go to chex systems which they clearly use. They did what they did and I did what I said. Account was opened and funded. Also, I would ask always for the name of the credit agency b/c I personally would not (knowingly) do business with anyone that does business with the ethically challenged Equifax.
Jennifer   |     |   Comment #53
I unfreeze all 3 of mine every time I open a new credit union/bank account. It only takes about 5 minutes total to log into the 3 websites and unfreeze. Then i just make a quick calendar note to refreeze about 7 days later. I've had too many instances where CSR's tell me they will be doing a credit check with a particular bureau and then actually the backoffice or automation makes an attempt with a different bureau. Much cleaner to simply unfreeze all of them. I can easily spare 5 minutes to make 1000's of dollars in interest over a 5 year period!
Jennifer   |     |   Comment #54
When opening accounts with large credit bureaus and dealing with call center CSR's it simply isn't realistic to tell them to use Chex Systems. The people answering the phone have little control over such matters.
Jennifer   |     |   Comment #55
Sorry. Above post was supposed to read "credit unions"!! (not credit bureaus)
HighYield   |     |   Comment #56
+3! Right On Jennifer!

I got the 24 months Term *Plus* set up today. 3.25%. Add more money any time. Two customer service reps I spoke with this time, were excellent.

I guess I should also grab the 5-yr Term Plus before it goes away. 3.51% is now one of the TOP DOGS."............ WOOF!! :-)
Jennifer   |     |   Comment #57
Yes you should. Why not for only 5 bucks!
Jennifer   |     |   Comment #58
If you have any money you might possibly want to add anytime in the next 5 years I would lock in that one right now. Rates could crash, you never know.
Mak   |     |   Comment #61
Jennifer, if you keep telling people to open the term deposit plus when it comes time for us to add we'll have another Tobyhana aka Valor on our hands...:)
Jennifer   |     |   Comment #70
Oh :) You made me laugh.
HighYield   |     |   Comment #64
Agree, Jennifer. Sounds like a wise move. A nice parking place for the money from my 6-month cd's that mature real soon.
Dunmovin   |     |   Comment #86
If you don't know which credit won't know where they "may" get the questions to ask you. If you know which bureau, you will normally have a copy available and be able to correctly reply. All bureaus are not the same! The info on each is usually not the same!
Zemo999   |     |   Comment #59
As seem congruent with some other posters, this bank, in my experience, is a disaster of misinformation. For starters, I've been told multiple times now that there is no way to become a member, other than living in their service area, being in one of their SEG's, etc. I specifically asked about joining the ACC, and was told by a supervisor in very clear terms that this is not an available route for membership, in contradiction to what is listed in the eligibility requirements on this (DA's) site. Furthermore, it's like pulling teeth, but if you ask the question of enough supervisors enough times (the front-line people seem to know just about nothing), while there are add-on term deposits, of 24 months (new, recent), as well as 3 and 5 year terms, you can't vest more than $100k in the aggregate of all of those possible term accounts (they call them 'term plus') together. I'd be interested if someone has had success of joining by joining ACC, but not surprised, given how unknowledgeable the people I spoke with seem to be. Yes, I do see in the comments that some folks are saying they were able to sign up even though they were 'out of area.' But even if this is true, the lack of awareness of their own policies might be a warning sign that MACU isn't ready for prime time.
HighYield   |     |   Comment #60
Zemo #59 -- After I submitted my online app, a customer rep called to verify some information. He asked if I belonged to any organizations such as the PTA or ACC. I said yes, but he did not want any membership number or acct number.

The only reason I'm a member of the ACC, is because I was applying at Andrews FCU and they had a link to join for free. Otherwise, it's $8.

HighYield   |     |   Comment #62
Zemo, and don't forget the regular Term Deposit cd's. $500 to open, and no upper deposit limits.

Could I have lied about the ACC? Possibly. I'm sure some do. When I was e-signing the final documents, I did notice something about the ACC, confirming I was a member or whatever.
larry   |     |   Comment #63
Comment #60 Sweet, so I can use the ACC from Andrews to join for free if I understand this right? Does MACU still do a hp for opening up an account? tia
HighYield   |     |   Comment #65
larry #60 -- Apparently so. I said I had an ACC membership number from when I was trying to join Andrews. But he didn't want the number.

Hard pull? I believe so, or at least they have that option, according to all the fine print in the disclosures. I went ahead and temporarily unfroze the 3 agencies.
according to the
HighYield   |     |   Comment #66
Sorry for all the typos. I missed my "Old Guy Nap" today. Jennifer has a lot more info about Mountain America.
Zemo999   |     |   Comment #80

Like you, I'm a long-time member of the ACC because I opened accts. with Andrews FCU quite some time ago. It got me nowhere with MACU - 2 supervisors have now insisted that ACC counts for nothing - I have to live in their service area or belong to one of their SEGs, or the other local-only paths to membership. It seems just crazy that some folks have a helpful experience with them, and with others, the seemingly exact same 'credentials' don't qualify. I've kept trying because the add-on really is a nice way of 'holding a rate' for you if interest rates go south. But the aggregate limit on term-plus cd's is $100k, some of the reps are really inept, and it could well become a second career to open an acct. I really don't understand why ACC is accepted for some applications and deemed inadequate for other folks. Not my favorite FCU to deal with, obviously.
ACC   |     |   Comment #81
#80, Zemo,
Go to their website, expand the plus sign for member eligibility, to the right of the screen there is a blank field to type in an employer or SEG to see if you qualify. Type in American Consumer Counsel, click on it, it will select it into the field. Then you will see a message appear under the box "Congratulations, you are eligible through ACC"
Zemo999   |     |   Comment #92
Hello ACC,

Thanks *so* much for your advice (above). Their website is terribly non-intuitive (at least to me) - The prominent (I'm working from memory here) 'Become a Member' is not the way to go - that immediately asks you all kinds of personal info q's, and then asks your permission to do a hard pull, without ever stating whether you qualify for membership.
But much further down near the bottom is a relatively inconspicuous link that says 'membership'. And *that* does exactly what you said it does - asks which SEG you belong to - and American Consumer Council qualifies. *Then* it starts asking those same q's. I called and spoke with a rep, because I wanted to make sure that 1. I don't *work* for ACC, which the link seems to suppose, so I asked her if in the info section I put down my real employment, would that **** things up and she said no. I also wanted to make sure that the limit on what you could contribute is a max of $100k, regardless of how many term plus accounts you had, or different terms of term plus accounts (2, 3, 5 year) you had. She said she couldn't be sure, so sent me to their investment dept. or something like that at 801 325 6262. Except that line is constantly busy.
None the less, the info you supplied is magic - I can't tell you how many reps told me how many contradictory things, so your advice was golden.
As to why, after it verifies your member eligibility, it's saying that it's signing you up for a 'golden checking' account, I don't know. But I appreciate the progress.
pgroove_fan   |     |   Comment #67
From the volume of comments here, it seems obvious that a LOT of us are trying to take advantage of this CU's offers.

I got my first call-back early Friday afternoon. My rep asked a few questions about what brought me to their CU. Being geographically separated (I'm in TN) and with no acquaintances as members, he found my application interesting. I told him that I read about the Plus deal online and that it seemed like an account type that would interest me, particularly with the simple ACC qualification. He persisted as to exactly where I read it, but I remained vague and listed several of the CD rate comparison sites as possibilities.
After some identity-proof questions on past cars owned, prior phone #'s, etc. the matter of qualifying association arose. Having just joined the ACC as my obvious means of qualifying for MACU membership, I'm probably the poster child for the headache these CSRs are dealing with. This lead to the most interesting words that I heard from the CSR, something close to "membership ratios have been changing, do you happen to belong to a local-to-you PTA or other educational organization that might also qualify you for CU membership?" We did find another means for me to qualify, so I believe that my damage to any binding ratio that they might face is now eliminated.

I guess my point is that the "DA effect" is quite real. I cannot imagine how many applications this CU received in the last few days. I honestly feel bad about adding to their turmoil and told the CSR that. I will deal with the hoops that I'm required to face, and if I don't ultimately pass them all, that's fine as well.
111   |     |   Comment #68
Question for Jennifer, or anyone else knowledgeable about MACU practices - My understanding (which may be wrong; I'm not currently a MACU member) is that the Term Deposit Plus add-on CDs ABSOLUTELY REQUIRE the $10 monthly automated deposit, each and every month.

I'm fine with doing that, but what I want to know is - what happens if a CD-holder makes a 1-time mistake, or his "hub" bank or CU does, and this deposit does not get done for a particular month? For example, in my case since it's only $10 I'd probably set up an automated transfer or even a BillPay from my existing "hub" account, once a month. What if I decide to change hub accounts, and either the old one or the new one messes up? I'd be happy to pay to "catch up" the next month, BUT - would that glitch, or mistake, mean that I'd entirely lose my good rate on the CD? What would my rate then be? This seems a harsh price to pay in, say, the last year of a 5-year CD.

In other words, is there forgiveness, or just punishment? I'd especially like to hear from MACU customers who've actually experienced either this forgiveness, or the lack of it. Thanks in advance.
AnnO   |     |   Comment #69
I don't know what their policy is in that regard, but I'd suggest as a precaution, when switching accounts, keep the previous one's auto-transfers running for a couple months after starting up the new one (overlapping).
Jennifer   |     |   Comment #71
OK. Here's the deal. I was worried about the very same thing at MACU in terms of the 10 bucks a month. Actually, I have about 4 of those Term Deposit "Plus" CD's with them and decided that I wanted to stop the 10.00 per month on the 3 older ones and only have the 10 bucks put into the newest one (which is at the highest interest rate).
I spoke with someone there who told me that if the 10.00 isn't added after a full monthly cycle that the particular CD in question will simply automatically switch over to become a Term Deposit CD at the same interest rate. In other words, it would no longer be a "Plus" and the only penalty is that you would lose the ability to add money to it in the future. However, the interest rate would not go down for the money in that particular CD.
In my case, the guy i spoke with actually went ahead and discontinued the 10 buck automated transfer on my older "Plus" CD's and told me to look online after a full month and that they would simply be relabeled to lose the "plus" designation.

So if you really do plan to add a lot of money in the future, then i would suggest setting up an automated transfer from a reliable account. What I did initially is use the MACU savings account even though it doesn't pay much interest. I simply put enough money in that account to cover 12 months worth of the 10.00 transfers and then i marked my calender for month 11 to replenish the savings! We aren't talking big bucks here regardless of the interest rate.
Jennifer   |     |   Comment #72
One other thing. I would suggest setting up the automated transfer directly with MACU on the particular CD in question. That way they will transfer the money for you every month. You won't have to do anything. I actually think they require that it be done this way. Initially, I gave them another credit unions routing and account number for this purpose and they setup the transfer for me. Then, I changed it to pull out of the MACU Savings account so that I wouldn't have to worry as much about the transaction potentially not going through as planned.
HighYield   |     |   Comment #73
Good comments by pgroove & 111.

Now I got a headache.

When they set up my 24-month "plus" cd yesterday, nobody said anything about the $10 mandatory monthly deposit. No promlemo, but they didn't mention it.

"Due to our new online website, there may be a delay in answering customer calls."

And make darn sure you will never need the money in that 5-yr cd. There's a big 365 day EWP.

I gotta be honest, this entire application process with MA has been the most long, the most ridiculous, and THE most frustrating of any bank or cu. And they STILL haven't sent the two test deposits so I can set up ACH. And one phone rep had no idea what I was talking about! And another barely spoke English. And another couldn't answer any questions. Took 3 days to finally get a good competent rep.

Back to my Jim Beam......
Dunmovin   |     |   Comment #74
And they do business with Equifax?
Bernie for Pres
Bernie for Pres   |     |   Comment #76
Everybody, including your mother does business with Equifail.
Forgot My Name
Forgot My Name   |     |   Comment #75
Did you folks see how Connexus slashed their rates? Check their website.

No worries, Mate. We're all going to Mountain America!
Jennifer   |     |   Comment #77
Highyield. Here's the trick to getting a good MACU rep. You need to call about 1 minute after they open in the morning (Monday). Keep in mind they are on mountain time. If you call at that time, your call is almost always answered by a genuine MACU in-house rep. who is knowledgeable. If you call later in the morning, many of the calls go to their overflow call center and my experience with them has been horrid. For something as simple as adding a 10.00 transfer to a CD, the overflow center was clueless. I think they only are trained to handle really basic questions and anything more complex they take your name/number and have a more senior rep. call you back within a day or two (at least has been my experience).
HighYield   |     |   Comment #79
Re: Jennifer. Thanks. It does seem that they have two tiers of customer reps. Some more knowledgeable than others. Also very slow on replying to emails or messages. In fact, I never did get replies.

They have my routing number & checking acct number so they could open my membership with the required $5. And then she opened the CD with $5... That's good. But she refused to transfer any more money into the CD. I have to wait (this is day 4?) for the two small "test deposits" to show up in my linked checking acct.

It may be a very good credit union, time will tell, but patience is needed.
sta at it
sta at it   |     |   Comment #78
i think we kinda created our own monster out of the application process.
CSRs being swamped having to beef up the 2nd line of defense.
not to mention folks who are only reading and applying
Frustrated HighYield
Frustrated HighYield   |     |   Comment #82
I decided to go in a different direction. Called to cancel my new membership & cd. She said they will mail me a check for the 10 bucks, but at this point I don't care if they keep it! SHEESH!

Re-filling my flask with Jack Daniel's Old No. 7 !
larry   |     |   Comment #83
I forgot to ask, is everyone doing the 3.51% ($500) to open Mountain America 5 Year Term Deposit?
Seems the best way to cover the $10 monthly deposit is to just transfer in $120 and do auto deduct from that account into add-on CD. Not thrilled about the $100k cap, but it will help my blended rate if the Fed get's stupid and starts cutting rates.
AnnO   |     |   Comment #95
Well, for the 5-year CD you'd need $600 (plus the $5 minimum savings balance to remain a member) to cover all the minimum monthly deposits. :-)
Adam   |     |   Comment #84
I submitted my MACU application on Feb 6, and 2.5 weeks later I'm still trying to get my account opened. This is the slowest and least efficient account opening process I've ever experienced.
Blues Brothers
Blues Brothers   |     |   Comment #85
That's a fact Jack!
Adam   |     |   Comment #94
For the record, this week they opened my account. So, definitely a slow process, but not interminable.
rarnold2000   |     |   Comment #87
I called MACU almost two weeks ago to ask questions about the 5 year add-on promo CD paying 3.51 APY and to open an account. The CSR was a very polite young lady who did not have a clue. She could not answer most of my questions: e.g., How do I fund the account initially and make additional payments during the term-- ACH transfers, paper checks, etc. etc? Can the account be set up as a TOD, POD, or beneficiary account? Am I required to have an additional (checking, savings account) with MACU to open the promo CD? This is just a partial list. The young lady took my telehone numbers and assured me that she would check everything out and get back to me. I told her I wanted to open the account as quickly as possible, assuming the answers to my questions were satisfactory. I'm sure you can guess, no one ever called me back. It is so frustrating and now I am concerned that it may not be a good idea to deal with this CU.
Mak   |     |   Comment #88
1-I funded my account at the branch but you they are also part of the shared branch network.
2-I don't know what a TOD is but you open a POD which is a beneficiary account
3-You must open a share savings account with a minimum of $5
4-If they have not gotten back to you just give them another call and during regular hours is best....I don't know why you are having such a difficult time opening it because I have never had a problem with them and I have been a member for over 10 years.
Mak   |     |   Comment #89
and once you set up the share savings and deposit some funds you can open the CD and set up the $10 monthly transfer online, it is easy to do
AnnO   |     |   Comment #96
TOD (transfer on death), POD (payable on death), and 'beneficiary' accounts are all synonyms for the same thing.
Robb   |     |   Comment #91
Looks like another one bites the dust...First Guaranty Bank 5 year CD at 3.75% now down to 3% over the weekend.
???   |     |   Comment #93
CSR said if any Rate changes, they happen at beginning of month
Cali   |     |   Comment #97
On the link to e-sign the documents did it say General Membership (includes Guardianship/Conservatorship, and Representative Payee)?
willy12   |     |   Comment #98
I am considering an account here because there are not a lot of other options that pay 3.25% for a 2 year.

However, I have $150k to invest and this deal sounds like I should open it with a small amount as a hedge against declining rates?

How is my question? Should I open a 2 and a 3 with say $10-20k each and then set up the auto add and then forget about it for a few months?

I have $150k to invest with another $150k maturing in 4 weeks. Mountain is not going to solve my problem unless I just went with $49k in each and gave up on a large add on deposit.

I joined the american consumer council (md division) in the past so I presume my membership number would suffice?
DAJunkie   |     |   Comment #99
It might help with your decisions to note the same rate structure currently applies
to both add-on and non-add on account types.

So opening a combination of types can increase your TOTAL institution time deposit
balance well beyond $100k, even though the maximum 'hedged' account total at any
point is still $100k.

So for example, if you open a $150k non-add(s) on and a $5 add-on(s) today, that'd
cover up to ~$100k later addition at current rates. Best case, you'd ultimately achieve $300k
locked at current rate with option for still another $100k. Worst case you'd only have $250k
locked at current rate, have no further hedge options and would need to find another home for
$50k (or just accept the lowered rate on that amount at that time).
Verbose Patriot
Verbose Patriot   |     |   Comment #100
Thanks Patriot DA JUNKIE!

Incredibly complicated, but you make it sound even worse!
DAJunkie   |     |   Comment #101
Yup. You're right. It's really too complicated. Sorry about that ...
Probably better off to quit overthinking the problem, just spend the $$
and have some fun. Life's too short!
willy12   |     |   Comment #102
Thanks. To clarify, there is not a $100k limit on the non add-ons? Or were you suggesting $100k in the 2 year and another $50k in the 3 and then five dollars plus the monthly in the add-on?
Newbie1   |     |   Comment #103
#102. Correct, the standard, or non add-ons are not capped. You might want to consider putting $10-20k in standard or add-on CDs and opening a term deposit plus with the $5 minimum for future insurance. There are a number of posts regarding these CDs and MACU in last weeks CD summary thread which may be of interest to you.
Mountain America Credit Union Hikes 5-Year CD Rate
Deal Summary: Term Deposit – 5-year (3.51% APY) and 3-year (3.35% APY), $500 min. Term Deposit Plus – 5-year (3.51% APY) and 3-year (3.35% APY), $5 min/$100k max, minimum $10 automatic monthly deposit.

Availability: Easy membership requirement

It’s a new month, which always translates into new rates and new deals. Mountain America Credit Union (MACU) is following the new rates path by increasing the APYs on several of its Term Deposits (MACU’s version of a CD). In early October, MACU boosted the rate on its 3-year...

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Mountain America Credit Union Boosts 3-Year CD APY
Deal Summary: 3-year Term Deposit, 3.35% APY, $500 minimum deposit. 3-year Term Deposit Plus, 3.35% APY, $5 min/$100k max, minimum $10 automatic monthly deposit.

Availability: Easy membership requirement

At the beginning of the month, Mountain America Credit Union (MACU) raised the rate on its 3-year Term Deposit (3.35% APY). Following a 50 bps increase, the 3-year’s APY now equals that of the 5-year Term Deposit APY. The minimum deposit is $500, with no stated balance cap.

Thanks to DA reader, alan1, for his Forum...

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Mountain America Credit Union Ups 5-Year Term Deposit
Deal Summary: 5-year Term Deposit, 3.25% APY, $500 minimum deposit. 5-year Term Deposit Plus, 3.25% APY, $5 min/$100k max, minimum $10 automatic monthly deposit.

Availability: Easy membership requirement

Over the weekend, Mountain America Credit Union (MACU) raised the rate on its 5-year Term Deposit (3.25% APY). The latest 10 bps increase has put the 5-year Term Deposit’s APY near the top, once again. The minimum deposit is $500, with no stated balance cap.

Thanks to DA reader, alan1, for his Forum post about MACU.


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Mountain America Credit Union Pushes Up 5-Year Term Deposit Rate
Deal Summary: 5-year Term Deposit, 3.15% APY, $500 minimum deposit. 5-year Term Deposit Plus, 3.15% APY, $5 min/$100k max, minimum $10 automatic monthly deposit.

Availability: Easy membership requirement

For more than two years, Mountain America Credit Union’s (MACU) 5-year Term Deposit has been at or near the top of the 5-year Nationally Available CDs category of DA's bi-weekly CD Rates Summary. While MACU was one of the first members of the 3 For 5 Club, the 5-year Term Deposit lost a little of its luster when...

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Mountain America Credit Union Ups 5-Year Term Deposit
Deal Summary: 5-year Term Deposit, 3.00% APY, $500 minimum deposit. 5-year Term Deposit Plus, 3.00% APY, $5 min/$100k max, minimum $10 automatic monthly deposit.

Availability: Easy membership requirement

DA reader, jamesstewart, posted some important news in the Forum today: Utah-based Mountain America Credit Union (MACU) is the latest financial institution to join the “3 For 5 Club,” by raising the rate on its 5-year Term Deposit to 3.00% APY. The minimum deposit is $500, with no stated balance cap.

The Term Deposit is also...

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