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Mountain America Credit Union Review 2024

Updated February 6, 2024
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At a glance

4.2
Rating: 4.2 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.9 stars out of 5

Checking

Rating: 4.6 stars out of 5

Savings

Rating: 2.8 stars out of 5

MMA

Rating: 3.5 stars out of 5

About Bankrate Score

Overview

Mountain America Credit Union is best for customers in the Rocky Mountain and West Coast regions of the U.S., where its branches are located. The credit union offers especially competitive yields on its CD rates and solid yields for its money market accounts, making it a great place for savers looking to park their money.

Highlights

  • Free Checking
  • Top CD Rates
Compare offers
Info
Bank logo
Member FDIC.
Savings Account
5.25
%
APY
APY
Info
As of 4/12/2024
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: No fees. Easy deposits and quick withdrawals.
Bank logo
Member FDIC
Savings Account
4.30
%
APY
APY
Info
As of 4/12/2024
Rating: 4.9 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
5.00
%
APY
APY
Info
As of 4/12/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: Plus, no monthly fees and unlimited free external transfers

Overall

Mountain America Credit Union offers a full range of financial services, including deposit accounts like checking and savings for consumers and businesses, and lines of credit and loan services for homes and vehicles. Its CDs can be opened with a low minimum deposit and earn a highly competitive APY. Some of its other accounts, including its savings, are more lackluster, although they’re easy to open. 

Pros

  • Checkmark

    There’s a wide range of CD terms available that offer competitive yields.

  • Checkmark

    Mountain America is part of the CO-OP ATM network, giving you access to more than 50,000 ATMs coast to coast.

  • Checkmark

    Opening deposit requirements are low.

Cons

  • Savings account yields are very low.

  • APYs for the money market account are solid but could be higher; a minimum of $1 million is required to earn the top APY.

  • Withdrawals on savings and money market accounts are limited to just six per month.

Mountain America Credit Union banking products

2.8
Rating: 2.8 stars out of 5
Bankrate Score

Mountain America Credit Union savings overview

Mountain America’s Primary Savings account can be opened with just $1, which is also the average daily balance requirement. However, you need at least $100 to earn interest, which is compounded daily and paid monthly. And if your balance falls below $100, you’ll be charged a $5 monthly fee.

While the account is highly accessible, it won’t do much to help grow your savings, as the APY offered is much lower than the national average. The account comes without monthly fees, but if you fall below the $1 minimum balance requirement, you may be charged a $2 low-balance fee.

Pros

  • Checkmark

    The account is easily accessible, requiring just $1 to open.

  • Checkmark

    There are no monthly service fees.

  • Checkmark

    Youth and Teen savings accounts are also available.

Cons

  • The Primary Savings account pays an APY that is much lower than the national average.

  • A $100 minimum balance is required to earn interest.

  • There’s a $5 monthly fee if your balance falls below $100 and a $2 low-balance fee if your account falls below $1.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    Mountain America Credit Union
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Info
Bank logo
Member FDIC.
Savings Account
5.25
%
APY
APY
Info
As of 4/12/2024
Rating: 5 stars out of 5
Info
$0
Min balance for APY
View offer Arrow Right
Promoted offer: No fees. Easy deposits and quick withdrawals.

Bank fees

Fee Charged?
Overdraft fee $25
Non-sufficient funds fee $25
Monthly maintenance fees $0 - $5
Out-of-network ATM fee $1.50
Excessive transaction fee None

About Mountain America Credit Union

Mountain America Credit Union is an NCUA-insured institution headquartered in Sandy, Utah. The credit union opened its doors in 1936 and currently has more than $18 billion in assets. Mountain America’s 100 branches are located throughout the Rocky Mountain and West Coast regions of the U.S. 

As a credit union, Mountain America is a not-for-profit institution owned by its members, with a mission to provide the best prices and services to its members rather than building profits for shareholders.

Customer experience

Customer service. Customers can reach representatives on the phone everyday from 6 a.m. to 9 p.m. MT. Customers can also get help by email or by using Mountain America’s extensive FAQ articles.  

Digital experience. Digital banking can be done online or through Mountain America’s app on both the Apple App and Google Play Stores. The app is highly-rated by iOS users, with middling reviews by Android users. Through digital banking, you get access to Bill Pay and Zelle, in addition to other functionality like mobile deposits. Moreover, you can check your FICO Score for free on Mountain America’s app, but you must have a checking account to do so.

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.