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American Airlines Federal Credit Union Review 2022

Updated December 2, 2022
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At a glance

4.7
Rating: 4.7 stars out of 5
Bankrate Score
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CDs

Rating: 4.5 stars out of 5

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Rating: 4.9 stars out of 5

Savings

Rating: 5 stars out of 5

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Overview

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

Highlights

  • High APY
  • No Monthly Fees

Overall

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

Pros

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

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    It pays competitive APYs on its deposit products.

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

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    Just $6 is needed to join the credit union. ($5 to open a savings account and $1 to pay the credit union’s one-time fee.)

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    The credit union has paid dividends to members, though future dividends aren’t guaranteed.

Cons

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

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

American Airlines Federal Credit Union bank products

5.0
Rating: 5 stars out of 5
Bankrate Score

American Airlines Federal Credit Union savings overview

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.

A $5 fee is assessed on inactive Primary Savings accounts should the balance fall below $250 and 12 months have passed since the last transaction.

Pros

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    Members get access to a fee-free savings account.

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

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    The savings account pays a competitive yield.

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    The credit union will match your opening deposit, up to $25 in the Emergency Fund Savings account.

Cons

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

  • Inactive accounts (accounts with balances under $250 and no transactions for 12 consecutive months) are charged $5 a month.

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.

American Airlines Credit Union was offering a $25 reward for each family member referred to the credit union at the time of Bankrate’s review.

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

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.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.