Amid the drop in the certificate of deposit rates, Mountain America Credit Union still offers their 60-month CD that yields 4.75% APY. The account requires a minimum deposit of $1000. This term deposit, as the union coins it, is also available as Roth IRAs.
The union imposes early withdrawal penalties but is lower compared to what is going on in the market. They only take 3 months of interest for terms over one year. The penalty is applied on the funds taken out. It will be best to consult the union’s website for the details of the penalties in place. Withdrawals also require the approval of the union.
Membership to the union is open to enlisted members of the American Consumer Council. The council collects $12 for membership open to any interested individual. An online application is also available for interested individuals. The union requires a $25 minimum deposit to a share savings account.
The Mountain America Credit Union has offices throughout Utah. They also have branches in Las Vegas in Nevada and Phoenix, Arizona.
BauerFinancial issued a 3-star rating while the bankrate.com gave 2 stars based on their September 2008 data.
The union is covered by the NCUA under charter # 24692. They have a declared asset of $2.8 billion and member base of 313,553.
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