Mountain America Credit Union Review: Is It Right For You

Mountain America Credit Union has been a staple in the financial industry for over 80 years, serving members across the United States. As a not-for-profit cooperative, it offers a wide range of financial products and services designed to meet the unique needs of its members. But is Mountain America Credit Union the right choice for you? In this comprehensive review, we'll delve into the benefits, features, and potential drawbacks of this credit union to help you make an informed decision.

What is Mountain America Credit Union?

Mountain America Credit Union is a federally insured credit union headquartered in Sandy, Utah. Founded in 1934, it has grown to become one of the largest credit unions in the country, with over 950,000 members and $10 billion in assets. As a member-owned cooperative, Mountain America Credit Union is governed by a board of directors elected by its members, ensuring that decision-making is centered on serving the needs of its membership.

Benefits of Joining Mountain America Credit Union

So, why should you consider joining Mountain America Credit Union? Here are some of the benefits that set it apart from traditional banks:

• Competitive Rates: Mountain America Credit Union offers competitive rates on loans, credit cards, and deposit accounts, helping you save money and achieve your financial goals.
• Personalized Service: As a member-owned cooperative, Mountain America Credit Union is dedicated to providing exceptional service to its members, with a focus on building long-term relationships.
• Convenient Access: With over 90 branches across the United States, as well as online and mobile banking services, you can access your accounts and conduct transactions from anywhere.
• Financial Education: Mountain America Credit Union offers a range of financial education resources, including workshops, webinars, and online tools, to help you make informed financial decisions.

Membership Requirements

To join Mountain America Credit Union, you'll need to meet certain eligibility requirements. These include:

• Residency: You must live, work, worship, or attend school in one of the states where Mountain America Credit Union has a branch.
• Employment: You must be employed by one of the credit union's sponsor companies or belong to a qualifying organization.
• Family Membership: You can also join if a family member is already a member of the credit union.

Products and Services

Mountain America Credit Union offers a comprehensive range of financial products and services, including:

• Checking and Savings Accounts: Earn competitive rates on your deposits, with features like ATM fee rebates and mobile banking.
• Loans: Choose from a variety of loan options, including auto loans, mortgages, and personal loans, with competitive rates and flexible terms.
• Credit Cards: Enjoy rewards, cashback, and low interest rates on Mountain America Credit Union's range of credit cards.
• Investments: Take advantage of investment products like certificates, IRAs, and brokerage services.

Online Banking and Mobile App

Mountain America Credit Union's online banking and mobile app provide convenient access to your accounts, allowing you to:

• View Account Balances: Check your account balances and transaction history.
• Transfer Funds: Move money between accounts or pay bills.
• Deposit Checks: Deposit checks remotely using your smartphone.
• Pay Bills: Pay bills and set up recurring payments.

Fees and Charges

Like any financial institution, Mountain America Credit Union charges fees for certain services. These include:

• Monthly Maintenance Fees: Waived if you meet minimum balance requirements or have a qualifying direct deposit.
• ATM Fees: Rebated if you use an in-network ATM.
• Overdraft Fees: Charged if you exceed your account balance.

How to Avoid Fees

To avoid fees, be sure to:

• Maintain Minimum Balances: Keep your account balances above the minimum requirement to waive monthly maintenance fees.
• Use In-Network ATMs: Use ATMs within the credit union's network to avoid ATM fees.
• Set Up Overdraft Protection: Link a savings account or credit card to your checking account to avoid overdraft fees.

Security and Insurance

Mountain America Credit Union takes the security and insurance of its members' accounts seriously, with:

• Federal Insurance: Deposits are insured up to $250,000 by the National Credit Union Administration (NCUA).
• Data Encryption: Online banking and mobile app transactions are encrypted to protect your personal and financial information.
• Account Monitoring: The credit union monitors accounts for suspicious activity and offers alerts and notifications to help prevent identity theft.

Customer Support

Mountain America Credit Union offers a range of customer support options, including:

• Phone Support: Call the credit union's customer service team during business hours for assistance.
• Email Support: Send an email to the credit union's customer service team for help with your accounts.
• Branch Support: Visit a branch in person for personalized support and guidance.

Conclusion

Mountain America Credit Union is a solid choice for those looking for a member-owned cooperative that offers competitive rates, personalized service, and convenient access. While it may not be the best fit for everyone, its comprehensive range of financial products and services make it a great option for those who value the benefits of a credit union. If you're considering joining, be sure to review the membership requirements, products, and services to ensure it aligns with your financial goals and needs.