American Airlines Federal Credit Union Review

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American Airlines Federal Credit Union offers a variety of banking and loan products to its airline industry members.

What we like

Credit unions offer their members convenient banking options.
It pays competitive APY for its deposit products.
It offers free products with attainable minimum deposit requirements.
Join a credit union for just $6. (Open a savings account for $5 and pay a one-time credit union fee of $1.)
Credit unions have paid dividends to members, but future dividends are not guaranteed.

We have nothing

Membership is limited to certain members of the airline industry and their families.
Sparkasse does not offer overnight funding accounts.

Checking accounts

American Airlines Federal Credit Union offers several checking accounts to meet the individual needs of its members. Priority checking accounts are a “daily check” option for credit unions “with an opportunity to earn extra benefits by doing something simple each month,” the site said. There is no monthly service fee for the account and no minimum balance is required.

Account holders who make 15 debit card transactions per month, maintain direct deposits of $250 or more, and opt-in to online statements are eligible for enhanced benefits, including:

Competitive returns on deposits up to $5,000.

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Discount ATM fees up to $20 per month.

Reimbursement of foreign transaction expenses.

Additional checking account features for all account holders include: Mobile Banking with Mobile Check Deposit, Free Bill Pay, Mobile Wallet Payment Options and Account Notifications. The credit union is also part of the CO-OP ATM network, which gives customers access to thousands of free ATMs across the country.

What we like

Members can choose the checking account that best suits their needs.
Account holders have access to many features.
Members have free access to thousands of ATMs across the country.

We have nothing

Upgraded account features require members to meet certain conditions.

CD rates

American Airlines Federal Credit Union offers certificates with terms ranging from one to five years. All pay competitive yields, especially short-term certificates, and all require a manageable minimum balance of $1,000.

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American Airlines Federal Credit Union also offers their stock certificate ladder, which ranges from $1,000.00 to $9,999.99 for balances of $10,000 and above. Larger balances and longer certificate terms lead to higher returns.

Credit unions do not offer nudges or proof of impunity. However, it does offer its Dream Plan stock certificate, a five-year certificate that pays a high APY. This product costs $25 to open. After that, customers must deposit $25 per month until the term ends or the account balance reaches $50,000, whichever comes first.

What we like

Members receive a range of terms and competitive rates of return.
All certificates require a manageable minimum balance of $1,000.
The Stock Certificate Ladder provides members with a convenient leaderboard option.
Funds from U.S. Federal Credit Union CDs used to make a down payment on a home loan through a credit union will not be subject to prepayment penalties.

We have nothing

Credit unions do not offer nudges or proof of impunity.
Other financial institutions offer higher APY on CD.

Savings accounts

The American Airlines Federal Credit Union Primary Savings Account requires only a $5 opening deposit and a one-time $1 membership fee. It pays a competitive APY and has no monthly service fee. Members looking only for savings accounts that pay the best interest rates can use the American Airlines Federal Credit Union Savings Account, although you may find slightly higher returns at some other institutions.

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Credit unions also offer their emergency fund savings accounts. It pays the same APY but requires no minimum balance.

An inactive primary savings account will be charged a $5 fee if the account balance is below $250 and 12 months have passed since the last transaction.

What we like

Members have access to a free savings account.
Account opening requires a $5 deposit and a one-time fee of $1.
Savings accounts pay competitive rates of return.
The credit union will match your opening deposit of up to $25 in an emergency fund savings account.

We have nothing

While APY is competitive, those looking for the highest yield will want to shop around.
Inactive accounts (accounts with less than $250 in funds and no transactions for 12 consecutive months) will be charged $5 per month.

Banking experience

American Airlines Federal Credit Union offers certain airline industry employees and their families a convenient banking option. The credit union has a highly rated app for iOS and Android. It also has branches at most major US airports and is part of a network of ATMs and shared branch CO-OPs.

Members can connect with the credit union in a number of ways, including live chat, phone and branch offices. Live chat is available Monday through Saturday from 8:00 am to 5:00 pm. central. Telephone staff are available Monday through Friday from 7:00 am to 7:00 pm. Saturday 7am to 5pm

At the time of review, American Airlines Credit Union is offering a $25 incentive for each family member who refers to the credit union.

The credit union also offers its members an IRA savings account as well as online personal finance courses.

Via American Airlines Federal Credit Union

Founded in 1936, American Airlines Federal Credit Union offers a variety of banking and credit products to members of the airline industry. Membership is limited to certain current or retired airline staff and their families. Funds deposited with American Airlines Credit Union are insured up to $250,000 by the National Credit Union Share Insurance Fund. Credit unions have branches at most major US airports and are part of a network of ATMs and shared branch CO-OPs.

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