America First Credit Union (formerly known as the Fort Douglas Civilian Employees Credit Union) was founded in 1939 by a group of 59 co-workers, friends, and neighbors. Since its founding, the credit union has expanded to serve 1.5 million members through its array of banking products and services for personal and business customers.
America First Credit Union product overview
Checking accounts
- Classic checking: The classic checking account is America First CU’s most basic checking account option. It’s free to open and does not charge any monthly maintenance fees. It offers a debit card, bill pay services, overdraft services, and competitive dividends. There’s no minimum balance requirement to open this account or earn interest.
- Premium checking: The premium checking account offers the same features as the classic checking account with added perks such as identity theft protection, digital coupons, and more. It comes with a $6 monthly fee that can be waived if you set up at least $500 in direct deposits per month, complete 20 or more transactions per month with your Visa credit or debit card, and maintain an average daily checking balance of at least $1,500. There’s no minimum balance requirement for this account, but in order to earn the 0.1% APY, you’ll need to maintain a balance of at least $500.
- Youth checking: This checking account is designed for kids ages 8-17. There are no monthly fees, providing a safe and low-cost way for younger account holders to learn smart money management. A parent or guardian co-signer is required to open an account.
- Money market checking: The money market checking account offers members a hybrid option between a checking and savings account. This account provides higher dividends for members with larger account balances while still offering easy access to funds. The interest rate for this account ranges from 0.1% to 0.3% APY, depending on your account balance. A minimum opening deposit of $10,000 is required, and you must maintain a minimum of $2,000 in your account to earn dividends.
Savings accounts
- Share savings: When you join America First, you’re required to open a share savings account with a minimum of $1. You also need to maintain a minimum balance of at least $1 to earn dividends.
- Money market savings: America First CU describes its money market savings account as an ideal savings account for short-term savings or an emergency fund. There is no minimum balance requirement, and you can make withdrawals at any time without incurring penalties. The dividend rate increases as your balance increases.
- Wedding savings: America First offers a wedding savings account for couples who want to receive cash gifts from their guests. Couples can open accounts at any America First CU branch. Or other individuals may open an account for a wedding couple. America First provides registry announcements and invitations for guests to contribute.
- Health savings accounts: America First has partnered with Lively, a health and lifestyle benefits platform, to offer members and employers health savings accounts and administrative services. Through this partnership, members have access to Lively’s team of HSA experts, easy-to-use dashboards, and more.
- Coverdell Education Savings: America First offers members a tax-advantaged way to save for a child’s education. There is no minimum deposit requirement for this account, and qualified withdrawals are tax-free. There is also a Coverdell Education Savings Certificate Account option.
- Charitable memorial accounts: America First offers charitable and memorial accounts for members who are experiencing financial hardships.
- Youth savings: It’s never too early to start saving money, and America First Credit Union offers a youth savings account for older kids and teens to learn how to manage their own money. There are no annual fees associated with this account, and account holders can receive a Visa debit card for free with their youth account for easier access to their funds.
- Student savings: Members under the age of 26 can open a student money market account with America First Credit Union. This account does not have a minimum balance requirement, and you can withdraw your money at any time without fees or penalties. When you turn 26, you will automatically be enrolled in a regular money market savings account.
Certificate accounts
American First offers traditional share certificates, bump-rate certificate accounts, dedicated savings accounts, flexible certificate accounts, and ladder certificate accounts. These accounts offer highly competitive rates, with terms ranging from three months to five years. A minimum opening deposit of $500 is required.
IRAs
Retirement accounts, including traditional IRAs, Roth IRAs, and IRA certificate accounts, are available for members who want to start saving for their golden years.
Visa credit cards
America First offers a range of Visa credit cards that you can apply for online. This includes rewards cards, cash-back cards, and secured cards.
Insurance services
America First offers auto, home, term life, and other insurance products and services through a third-party insurance provider.
Business banking products and services
Business customers can take advantage of business checking, savings, loans, Visa cards, certificate accounts, and other services.
Vehicle loans
America First offers financing for various types of vehicles, including regular auto loans, RV loans, loans for motorcycles, ATVs, four-wheelers, boats, snowmobiles, and more.
Personal loans
America First offers personal loans for members who need more flexible financing options. It also offers certificate-secured loans, lines of credit, share-secured loans, and share-secured lines of credit. These loans offer competitive rates and flexible terms of up to 60 months.
Home equity loans
Home equity loans, home equity lines of credit, and investment property loans are all offered by America First CU for first-time buyers, those looking to make improvements, or build wealth through homeownership.
Mortgage loans
America First offers mortgage loans, reverse mortgages, construction and lot loans, as well as renovation loans.
America First Credit Union fees
Here’s a closer look at the fees you might encounter as a member of America First Credit Union:
| FEE | FEE AMOUNT |
|---|---|
| Inactive account | $2.50 monthly if there have been no transactions for 12 months or more |
| Premium Checking Account monthly fee | $6 (waived if relationship conditions are present) |
| Premium Checking Account reinstatement | $10 if reopened within 3 months of closure |
| Account reconciliation | $15 per hour ($15 minimum) |
| Account research/adjustment | $15 per hour |
| Incoming wire | $10 |
| Domestic outgoing wire | $15 |
| International outgoing wire | $30 |
| Cashier’s check | $2 (no fee with Premium Checking) |
| Check copy | $2 per check; $4 same day |
| Check printing fee | Prices vary depending on style |
| Letter of account verification | $5 |
| Money order | $3 per order ($1 per order with Premium Checking) |
| Out-of-network ATM | $1.50 |
| Overdraft | $25 |
| Rush card | $10 per card |
| Stop payment | $15 |
| Statement copy | $5 |
| Foreign transaction | 1% of transaction amount |
America First Credit Union pros and cons
Here are some of the major pros and cons to consider before becoming a member of America First Credit Union:
Pros:
- Low fees: Many of America First CU’s accounts do not require a monthly fee, or offer ways to waive monthly fees by meeting certain eligibility requirements. There is also no fee for failing to meet minimum balance requirements.
- Competitive CD rates: Many of America First CU’s share certificates pay over 4% APY. In fact, several of America First Credit Union ranks among the best CD rates available today.
Cons:
- Limited membership eligibility: Membership with America First Credit Union isn’t available to everyone. You must live, work, worship, volunteer, or attend school in certain qualifying areas. Or you must be a family member of an existing member, a member of certain associations, involved in the Utah food industry, or an employee of America First Credit Union or its subsidiary corporations.
- Less competitive rates on savings: Aside from CDs, most of America First’s savings products offer low dividend rates. Members must also maintain high minimum balances to earn the highest advertised rates.
Customer service and mobile banking experience
America First Credit Union customer service representatives are available to chat via email, automated chat, mail, fax, and phone between the hours of 8 a.m. to 7 p.m. MT on weekdays and 8 a.m. to 6 p.m. MT on Saturdays, excluding holidays.
America First also offers a mobile app that is available for download on Google Play and the App Store and has a rating of 3.3 and 4.8 stars, respectively. On the app, members can review account balances, make mobile check deposits, track their spending and create a budget, transfer money between bank accounts, make loan payments, apply for credit increases, and more.
Social impact
America First Credit Union has a philanthropic branch of the credit union known as the America First Charitable Foundation. It aims to give back to the communities it serves through donations, volunteer efforts, community events and sponsorships, scholarships, and investment in financial education and resources.
In 2024, the Service First Program had 2,628 employees serving 140 organizations in 290 different projects, totaling 5,426 employee volunteer hours.
How to become a member
To become a member of America First Credit Union, you must meet certain eligibility requirements. You can apply if you live, work (regularly conduct business in), worship, volunteer, or attend school in:
- Salt Lake, Utah, and Juab counties, Utah
- Eligible areas of Cache, Davis, Iron, Rich, Washington, and Weber counties, Utah
- Clark and Lincoln counties, Nevada (except those living within a 25-mile radius of the Alamo U.S. Post Office)
- Eligible areas of Churchill, Douglas, Esmeralda, Lyon, Mineral, Nye, Storey, Washoe, and Carson City counties, Nevada
- Maricopa County, Arizona
- Eligible areas of Mohave and Pima counties, Arizona
- Eligible areas in Page and St. Johns, Arizona
- Eligible areas of Ada, Bannock, Bear Lake, Bingham, Boise, Bonneville, Canyon, Caribou, Clark, Elmore, Franklin, Gem, Jefferson, Madison, Owyhee, and Power counties, Idaho
- Eligible areas of Malheur County, Oregon
- Eligible areas of Benalillo, Chaves, De Baca, Guadalupe, Harding, Mora, Quay, Sandoval, San Miguel, Santa Fe, Torrance, or Valencia counties, New Mexico
Membership is also available for:
- Owners, employees, or supplies involved in the Utah food industry
- Employees or members of our Select Employer Group (SEG) or an affiliated association
- Members of the immediate family or household of an existing member
- Spouses of members who died within the field of membership
- Existing America First Federal Credit Union members
- Employees of America First Federal Credit Union or its subsidiary corporations
If you meet one of these eligibility requirements, you can fill out your membership application online. To become a member, you’ll need to open a share savings account.
Membership is open to individuals who live, work, worship, attend school, or volunteer in select counties across Utah, Nevada, Arizona, Idaho, Oregon, and New Mexico. You can also qualify if you are an employee/owner in the Utah food industry, work for an affiliated Select Employer Group, or are an immediate family or household member of an existing member.
The Classic Checking account has no monthly maintenance fees or minimum balance requirements. The Premium Checking account has a $6 monthly fee, but it can be waived if you meet any of the following each month:
Receive at least $500 in direct deposits
Complete 20 or more card transactions (Visa debit/credit)
Maintain an average daily checking balance of at least $1,500
To establish membership, you must open a Share Savings account with a minimum deposit of $1 and maintain at least $1 in the account to earn dividends and keep your account active.
America First’s Share Certificates offer their most competitive yields (often over 4% APY depending on promotions and terms ranging from 3 to 60 months, with a $500 minimum deposit). Standard savings and checking accounts offer lower dividend rates (0.10% to 0.30% APY).
Common fees include:
Overdraft fee: $25
Out-of-network ATM fee: $1.50
Inactive account fee: $2.50 per month (after 12 months with no transactions)
Outgoing domestic wire transfer: $15
Foreign transaction fee: 1% of the transaction amount
Manoj Sharma is a Senior Writer on the banking team at Tax Assistant. He provides information on budgeting, bank accounts, the banking industry, and other related topics. Using original data and methodologies, he helps you identify the best financial institutions, accounts, and products tailored to your needs. Manoj holds a degree in Journalism and Political Science from Syracuse University. All articles are strictly reviewed and fact-checked by our panel of expert Chartered Accountants, including CA Devendra Saini, CA Nikhil Khunteta, and CA Ankit Goyal
