American Airlines Federal Credit Union Review 2021

Published January 2021 by Lance Davis

AT A GLANCE
4.4

Bankrate Score

bank-logo

High APYs

No monthly fees

American Airlines Federal Credit Union is best for airline industry employees looking for a convenient, full-service financial institution.

  • CDs
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    4.0
  • Savings
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    4.4
  • Checking
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    4.5
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    American Express National Bank

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    Savings account

    0.50 % APY

    $ 1

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    Axos Bank

    Member FDIC

    Checking account

    1.25 % APY

    $ 50

    To open

    $ 0

    To avoid fees

    Overall

    4.4

    Bankrate Score

    American Airlines Federal Credit Union offers a range of banking and lending products for its airline industry members.

    What we like

    • The credit union offers a convenient banking option to its members.

    • It pays competitive APYs on its deposit products.

    • It offers fee-free products with attainable minimum deposit requirements.

    What we don't

    • Membership is limited to certain airline industry members and their families.

    • The credit union doesn’t offer a money market account.

    CD rates

    4.0

    Bankrate Score

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

    American Airlines Federal Credit Union also offers its Share Certificate Ladder, which has options for balances of $1,000.00-$9,999.99 as well as balances of $10,000 and up. Bigger balances and longer certificate terms earn a higher yield.

    The credit union doesn’t offer a bump-up or no-penalty certificate. However, it offers its Dream Plan Share Certificate, a five-year certificate that pays a strong APY. This product requires $25 to open, then customers must contribute $25 each month until the term ends or the balance reaches $50,000, whichever comes first.

    What we like

    • Members have access to a range of terms and competitive yields.

    • All certificates require a manageable $1,000 minimum balance.

    • The Share Certificate Ladder gives members a convenient laddering option.

    What we don't

    • The credit union doesn’t offer a bump-up or no-penalty certificate.

    Savings accounts

    4.4

    Bankrate Score

    OTHER SAVINGS OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    American Airlines Federal Credit Union’s Primary Savings Account requires only a $5 opening deposit and a one-time $1 membership fee. It pays a competitive APY and doesn’t charge a monthly service fee. Members looking exclusively for a savings account that pays the best rate will do well with an American Airlines Federal Credit Union savings account, though you can find slightly higher yields at some other institutions.

    The credit union also offers its Emergency Fund Savings Account. It pays the same APY but doesn’t require a minimum balance.

    What we like

    • Members get access to a fee-free savings account.

    • Only a $5 deposit and one-time $1 fee are needed to open.

    • The savings account pays a competitive yield.

    What we don't

    • Though the APY is competitive, those looking for the highest possible yield will want to shop around.

    Checking accounts

    4.5

    Bankrate Score

    OTHER CHECKING OFFERS YOU MAY LIKE
    Axos Bank

    Member FDIC

    Checking account

    1.25 % APY

    $ 50

    To open

    $ 0

    To avoid fees

    American Airlines Federal Credit Union offers multiple checking accounts to meet the individual needs of its members. The Priority Checking account is the credit union’s “everyday checking” option, “with the ability to earn additional benefits like ATM fee rebates and a Priority Dividend rate for doing a few simple things each month,” according to the website. The account charges no monthly service fee and doesn’t require a minimum balance.

    Account holders who make 15 debit card transactions per month, maintain a direct deposit of $250 or more and enroll in online statements qualify for upgraded benefits, including:


    • A competitive return on balances up to $5,000.

    • ATM fee rebates up to $20 per month.

    • Foreign transaction fee rebate.


    Additional checking account features for all account holders include: mobile banking with mobile check deposit, free bill pay, mobile wallet payment options and account alerts. The credit union is also part of the CO-OP ATM network, giving customers access to thousands of fee-free ATMS nationwide.

    What we like

    • Members can choose the checking account that best fits their needs.

    • Account holders get access to lots of features.

    • Members have free access to thousands of ATMs nationwide.

    What we don't

    • Upgraded account features require members to meet certain criteria.

    Bank experience

    American Airlines Federal Credit Union offers a convenient banking option for certain airline industry employees and their families. The credit union offers highly rated apps for iOS and Android. It also has branches in most major U.S. airports and is a part of the CO-OP network of ATMs and shared branches.

    Members can get in touch with the credit union in a number of ways, including through a live chat, on the phone and in a branch. Live chat is available Monday through Saturday from 8 a.m. to 5 p.m. Central. Phone representatives are available Monday through Friday from 7 a.m. to 7 p.m. and Saturday from 7 a.m. to 5 p.m.

    About American Airlines Federal Credit Union

    Founded in 1936, American Airlines Federal Credit Union offers a range of banking and lending products for its airline industry members. Membership is limited to certain active or retired airline industry workers and their families. Funds deposited with American Airlines Credit Union are insured up to $250,000 by the National Credit Union Share Insurance Fund. The credit union has branches in most major U.S. airports and is a part of the CO-OP network of ATMs and shared branches.

    Lance Davis Twitter Created with Sketch. @LRD0015

    Lance Davis Twitter Created with Sketch. @LRD0015

    Lance Davis is the editorial director for Bankrate. Lance leads a team responsible for creating educational content that guides people through the pivotal steps in their financial journey. He has held multiple roles on the Bankrate team, starting out as a copy editor and then focusing on building audiences through social media and email newsletters before taking on an editor role. Lance learned the finer points of personal finance on the copy desk, where he was tasked with reading almost every article before it was published on the site, and saw how small moves today can have a big impact on your financial future. He developed a passion for sharing these lessons to help others budget their money, buy a house, save for retirement, build wealth and more. When he’s not reading Bankrate articles or playing around on the retirement calculator, Lance enjoys following sports, going on runs and reading books. Lance is an Alabama native and graduated from Auburn University with a bachelor's degree in journalism.