America First Credit Union

This is a federally chartered credit union that is headquartered in Riverdale, Utah, United States. It is the largest credit union in Utah and the 6th Largest in the US. As of 2017, it had over 121 branches and more than 818,000 members. In addition, its asset base was worth more than 8.22 billion.

They are a member of the CO-OP ATM network, which enables its members to have free access to the more than 30,000 ATM locations countrywide.

A credit union is more like a bank and offers its members banking services at a lower cost. As a member of a credit union, you are considered to be the owner, and therefore, there is always better customer service offered to its members as compared to using a bank.

As a member of America First Credit Union, you will get to enjoy great discounts and excellent interest rates on different accounts.

Products and services of America First Credit Union

Checking Accounts

With their checking account, you can use your money as you wish. This is because it comes with unlimited transactions and low account balances. There are also plenty of additional benefits, and you shall be able to earn some dividends with your balance.

Here are some benefits of an America First Credit Union checking account

  • Free online banking services this is 24-hr access and management of your account.
  • Free bill payment – you can be able to set up an automatic payment of bills, which ensures that you always pay your bills on time.
  • Direct check deposits – This account allows you to deposit your check into your account at any time directly.
  • ClickSWITCH – This enables you to move your deposits and payments with America First within minutes.
  • Mobile payments – You can make easy payments through your phone by directly downloading the app in a few minutes. This is an excellent incentive as it will minimize the need to keep visiting the bank for different transactions.
  • ABC deals – These are Cashback incentives that are available when you use your America First Visa card.
  • Card guard – This helps to protect your card and control your purchases.
  • Free picture-perfect – This will give you added protection by personalizing the images on your cards.
  • Money Manager – This helps in managing your finances, by tracking your spending habits, and ensuring that you do not go off-budget.
  • FICO Score – The FICO score helps keep track of your Credit Score. In addition, it ensures that you are always well informed in case your score goes below the recommended level.

Their Checking Account at a glance

Product APY Dividend Rate Min. Opening Balance. Min. Earning Balance.
Regular Checking 0.05% 0.05% $0.00 $500.00
Money Market Checking

From $0-1,999.99

0.25% 0.25% $10,000.00 $2,000.00
Money Market Checking

From $2,000.00-9,999.99

0.25% 0.25% $10,000.00 $2,000.00
Money Market Checking

From $10,000.00-24,999.99

0.35% 0.35% $10,000.00 $2,000.00
Money Market Checking

From $25,000.00-49,999.99

0.40% 0.40% $10,000.00 $2,000.00
Money Market Checking

From  $50,000.00-99,999.99

0.50% 0.50% $10,000.00 $2,000.00
Money Market Checking

From  $100,000.00-249,999.99

 

 

 

0.60%

 

 

 

0.60%

 

 

 

$10,000.00

 

 

 

$2,000.00

Money Market Checking

From $250,000.00+

0.75% 0.75% $10,000.00 $2,000.00

Savings Account

They are nine savings accounts at America First Credit Union, and each is designed for a specific group of people who are ready to start a saving culture.

Here is a description of each

Share savings account

This is an account that you are required to open when you become a member of America First Credit Union. One of their fundamental blocks is solid financial saving, and they believe that the more you save, the more freedom you shall have when you require to buy the things you need and want.

This particular account is for every member of America First, and it is required that you open one when you join the credit union. You can be able to deposit and withdraw money from the account easily. But, you must maintain a deposit of $1, which is always free.

There are two types of savings accounts

The flexible savings account, which allows you to make deposits and withdrawals easily and conveniently.

And Accessible savings account that manages your online account, mobile banking account as well as your ATM and branch.

The Savings Account at a glance

Product APY Dividend Rate Min. Opening Balance. Min. Earning Balance.
Share Savings 0.10% 0.10% $1.00 $1.00
 

Money Market

From:

$0 – 4,999.99

 

 

0.25%

 

 

0.25%

 

 

$0.00

 

 

$0.00

 

Money Market

From
$5,000.00 – 9,999.99

 

0.45%

 

0.45%

 

$0.00

 

$0.00

Money Market
$10,000.00-$24,999.99
0.55% 0.55% $0.00 $0.00
Money Market
$25,000.00-$49,999.99
0.65% 0.65% $0.00 $0.00
Money Market
$50,000.00-$99,999.99
0.85% 0.85% $0.00 $0.00
Money Market
$100,000.00-$249,999.99
0.95% 0.95% $0.00 $0.00
Money Market
$250,000.00+
1.05% 1.04% $0.00 $0.00

Money Market savings account

This is an account that has a high-interest rate, but the interest you shall receive depends on the amount of balance you have in your account. The rate is directly related to the balance. The more the money you have, the higher the interest rate.

The beauty of a money market account, however, is the ability to earn dividends which are essentially higher than what you would earn in a traditional savings account. You will also get to retain quick access to funds, which makes it easy to save for your future.

This account is ideal for emergencies and some short-term savings. It pays a respectable dividend, and the money shall be available to you whenever you want. Here are additional benefits of this account。

Tiered dividends – as you increase your deposits in this account, the interest keeps rising, and in the end, you shall have some good savings.

The Money Market Account at a glance

Product APY Dividend Rate Min. Opening Balance. Min. Earning Balance.
Share Savings 0.10% 0.10% $1.00 $1.00
Money Market

From $0 – 4,999

0.25% 0.25% $0.00 $0.00
Money Market

From $5,000 – 9,999

0.45% 0.45% $0.00 $0.00
Money Market
$10,000 – 24,999
0.55% 0.55% $0.00 $0.00
Money Market
$25,000 – 49,999
0.65% 0.65% $0.00 $0.00
Money Market
$50,000 – 99,999
0.85% 0.85% $0.00 $0.00
Money Market
$100,000 – 249,999
0.95% 0.95% $0.00 $0.00
Money Market
$250,000.00+
1.05% 1.04% $0.00 $0.00

Health Savings Account (HSA’s)

Because of the high cost of medical services, America First Credit Union has designed a product that is aimed at making it easier on you when it comes to medical bills. This product helps in keeping these costs at bay, and in addition, they have the most exceptional tax advantages in this savings account.

This account also comes with a high deductible, which gives you the ability to build a cushion that will help you pay for medical care.

All America First Credit Union members and business owners can all enjoy the benefits of this product which include。

Tax benefits – These include

  • Tax-deductible and pre-tax contributions.
  • Dividends accrue tax-free.
  • Non-taxed HSA funds for qualified expenses.

The growth of uninsured resources will roll over each year and continue to build for you a tax-free advantage.

There is portability regardless of the coverage type. This means that your HSA dollars are all yours no matter which job you currently have, or your insurance policies or even when you retire.

They have premium-savings, and in most cases, the eligible policies tend to have lower prices.

So, other than the benefits above, why should you choose their HSA plan?

  1. There are no fees charged for this policy.
  2. The account doesn’t have any minimum balance requirements.
  3. It is a custom product that is designed to fit your unique needs. There is an HSA share savings, money market savings, a money market checking, and a certificate account option.
  4. You get 24 hrs. Access to your funds, and you can use the visa debit cards, online banking, and over the counter cash withdrawals.
  5. Excellent customer services.

Requirements for an HSA account

  • You must already be having a qualified and high-deductible health plan.
  • You shouldn’t have any other major medical insurance.
  • You shouldn’t be enrolled with Medicare.
  • You cannot be claimed as someone’s dependent.

Annual Contribution Limits

Policy 2017 2018
Catch-up contributions for individuals 55 and over: $1,000
Individual Policy $3,400 $3,450
Family Policy $6,750 $6,900

The HSA account at a glance

Product APY Dividend Rate Min. Opening Balance. Min. Earning Balance.
HSA – Share Savings 0.10% 0.10% Nil Nil
HSA – Money Market Checking
$500 – 1,999
0.10% 0.10% Nil $500
HSA – Money Market Savings
$0 – 4,999
0.25% 0.25% Nil Nil
HSA – Money Market Savings
$5,000 – 9,999.99
0.65% 0.65% Nil Nil
HSA – Money Market Checking
$2,000 +
0.85% 0.85% Nil $500
HSA – Money Market Savings
$10,000 – 24,999
0.90% 0.90% Nil Nil
HSA – Money Market Savings
$25,000 – 49,999
1.15% 1.14% Nil Nil
HSA – Money Market Savings
$50,000 +
1.35% 1.34% Nil Nil

Dedicated Savings

If you can foresee a significant expense in the near future, then a dedicated savings account would be most ideal for you. This is because, when you leave money in the account for some time, you will earn a great interest rate. Here’s what you are likely to get with a dedicated account;

  • The convenience of having an automatic transfer of shares or a payroll deduction
  • Highly competitive certificate and account rates.
  • Your choice of the terms you wish to have which can range from 3 months to 5 years.
  • No minimum operating balances.
  • An automatic renewal option.
  • Federal insurance of up to $250,000.
  • Additional contributions of up to $10,000 per month.

A look at how quickly your Dedicated Savings can add up

Product APY Dividend Rate Min. Opening Balance. Min. Earning Balance.
3-5 Months 1.25% 1.24% $0.00 $0.00
6-11 Months 2.00% 1.98% $0.00 $0.00
12-23 Months 2.25% 2.23% $0.00 $0.00
24-29 Months 2.50% 2.47% $0.00 $0.00
30-35 Months 2.50% 2.47% $0.00 $0.00
36-47 Months 2.60% 2.57% $0.00 $0.00
48-59 Months 2.65% 2.62% $0.00 $0.00
60 Months 2.70% 2.67% $0.00 $0.00

Other Savings Accounts by America First Credit Union

Wedding savings account – this allows you to save for your wedding, and you also get to enjoy high-interest rates.

Coverdell Education Savings Account – This is ideal for someone who needs to save some money for school.

Charitable/memorial account – this account is for anyone who is experiencing financial hardships due to unfortunate life events.

Youth savings account – this account is targeted towards young people who wish to start saving.

Student saving account – this is an account for students who wish to save.

Other credit unions I have reviewed include

Conclusion

There are many other products offered at America First Credit Union, and I felt that it is essential to highlight the accounts so that you can know where to start your saving from. These are excellent accounts that can give you a head start with your saving culture.

Kindly log on to their website and get to understand more about this credit union and exactly how they can be able to help you with either savings, loans or your business.

I must disclose that they have had a few negative reviews from customers, but if you compare their services with what is offered by other credit unions, they have an edge above the rest, so try them and see for yourself.

More Recipes
social fish
When Satisfying Member or Customer Needs is not Enough: Connecting with the Heart