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Mountain America Credit Union
2.30%$500-Mountain America Credit Union60 Month CD
Accounts mentioned in this post. Rates as of May 6, 2016.

Best 5-Year CD Rate From a Major Credit Union at Mountain America


After other credit unions have cut their CD rates, Mountain America Credit Union (MACU) now has the best 5-year CD and IRA CD rate as compared to other major credit unions. Mountain America calls these Term Deposits. The 5-year Term Deposit has a 2.00% APY. Minimum deposit is $500. This rate is listed at MACU's rates page as of 2/12/2013. Rates are subject to change at anytime.

Some of the term deposit details are listed in the credit union's membership agreement. However, it doesn't appear to list the early withdrawal penalty. When I last contacted the credit union in 2010, I was told that the "penalty for early withdrawal on a 5 year term deposit is 180 days worth of interest."

Credit Union Membership

Credit union membership is open to members of the American Consumer Council. According to the ACC website "Join for free - if your intention is to join one of our participating credit unions, or if you are already a member of a credit union, you can join for free!" ACC is listed in the credit union's SEG Affiliated Associations page. For more ways to qualify for membership, please refer to the credit union's Become a Member page. In my email to this credit union a couple of years ago, I mentioned that I was interested in becoming a member via this council. Here's the reply I received:

We would be happy to take a membership application for you. If you have a branch near you please visit them with your picture ID. They will need $25.00 to get the account open and going. If you plan on opening a checking account that will require a minimum of $100.00.

If you are not near a branch location you can apply online or call us at 1-800-748-4302.

Large Branch Network

Mountain America Credit Union branches are located in Utah, Arizona, Nevada, Idaho and New Mexico. Some of the major cities with branches include Boise, Phoenix, Las Vegas, Albuquerque, Provo and Salt Lake City.

MACU also belongs to a shared branching network as well as several ATM networks, including the CO-OP Network, which allows members to complete surcharge-free transactions at more than 25,000 ATMs nationwide.

Mountain America Credit Union Overview

MACU is a large credit union with $3.33 billion in assets. It has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 10.71% (above average) based on September 2012 data. Please refer to our financial overview of MACU for more details. The credit union is federally insured by the NCUA (Charter # 24692).

How This CD Rate Compares

There are three other all-access credit unions that offer 5-year CD rates around 2%, but there are special requirements and/or limitations. For example, 2.02% APY is available at the State Department Federal Credit Union, but this is only for IRA CDs. Stanford FCU also offers 2.02% APY, but this requires a $100K minimum deposit and a checking account relationship. Lastly, Connexus Credit Union offers 2.00% APY, but this requires an active checking account.

For banks, the highest 5-year CD rate that's nationally available is 1.95% APY at Green Bank, N.A.. Three internet banks are offering 1.85% APY. These include CIT Bank, Barclays and Nationwide Bank.

These rates are accurate as of 2/12/2013.

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Edit 11:50am: Updated membership cost info for ACC.

Related Pages: Mountain America Credit Union, Phoenix, Boise, Idaho Falls, Salt Lake City, Albuquerque, Reno, Las Vegas, CD rates

Related Posts

Alan (anonymous)   |     |   Comment #1
Membership in American Consumer Council can be obtained at no cost, according to the info on their website:

Join for free - if your intention is to join one of our participating credit unions, or if you are already a member of a credit union, you can join for free!

New Members - The lifetime cost of membership is $15.00. Payments can be made by credit card or check .
Payments by check - should be made payable and mailed to:

American Consumer Council
P.O. Box 503016
San Diego, CA 92150-3016
Anonymous   |     |   Comment #2
I spoke to them recently. The early with.Penalty is 180 days.

Anonymous   |     |   Comment #3
Folks, This is a good credit union, but one thing check over everything when open new accounts.
KenBDG   |     |   Comment #4
Thanks Alan for the ACC cost info. Glad to see it's now free. I've updated the post with this info.
lof   |     |   Comment #5
They are a good C.U., I just opened a 2nd cd with them, easy process.  Only change, is the EWP was 90 days, has been changed for new cd's to 180 days.
Alskar   |     |   Comment #6
I found the early withdrawal penalties listed here:  https://macu.custhelp.com/app/answers/detail/a_id/231/kw/early%20withdrawal

Here's what it says:

Terms of 12 months and shorter are assessed a 30-day interest penalty. Terms of 12-48 months are assessed a 90-day interest penalty. Terms greater than 48 months are assessed 180 days of interest penalty. All penalties assessed are based on the full balance of the term. Early withdrawals terminate the entire term and the remainder must be reinvested in a new term, transferred to another share or loan, or withdrawn. Click here for more information on term deposits.