American Airlines Federal Credit Union Review
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At a glance
Overview
American Airlines Federal Credit Union is best for airline industry employees looking for a convenient, full-service financial institution with decent savings rates and low fees, as well as resources for developing financial wellness.
Highlights:
High APY No Monthly FeesHighlights:
CDs
Checking
Savings
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Checking rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
American Airlines Federal Credit Union offers a range of banking and lending products for its airline industry members, including savings accounts, checking accounts and share certificates. Yields overall are above average, and the credit union pays interest on checking accounts, too, without charging a monthly fee. Customers looking for the highest savings rates might want to shop elsewhere. But AAFCU offers plenty of other consumer-friendly features, including low minimum balance requirements and access to a large network of fee-free ATMs.
Pros
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The credit union pays above-average APYs on its deposit products, including checking accounts.
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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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Customers have access to fee-free ATMs in the Co-op network and shared branches.
Cons
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Membership is limited to certain airline industry members and their families.
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The credit union doesn’t offer a money market account.
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Only the first four transactions are free each month at shared branches. After that, it’s $5 per transaction.
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American Airlines Federal Credit Union banking products
American Airlines Federal Credit Union savings overview
The credit union also offers its Emergency Fund Savings Account, which can be opened after establishing a Primary 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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There’s no monthly fee.
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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 decent yield.
Cons
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Though the APY is above average, those looking for the highest possible yield will want to shop around.
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Inactive accounts (accounts with balances under $250 and no transactions for 12 consecutive months) are charged $5 a month.
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American Airlines Federal Credit UnionAPYAPY last updated between 2/15 and 2/21.APYAPY last updated between 2/15 and 2/21.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Bank fees
| Fee | Charged? |
|---|---|
| Non-sufficient funds fee | $25 |
| Monthly service fees | None |
| Out-of-network ATM fee | $2 |
| Incoming wire transfer fee | None |
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.
Customer experience
Customer service. 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.
Highly rated app. The credit union’s app has close to five stars on both the Google Play store and the Apple app store. Its features include mobile banking alerts, mobile check deposit, credit score monitoring and the ability to notify the credit union of travel plans.
Referral reward. American Airlines Credit Union was offering a $25 reward for each family member referred to the credit union, up to a total of $250, at the time of Bankrate’s review.
Financial wellness resources. Through the credit union’s site, members can access helpful resources to learn financial skills, build an emergency fund and develop a budget. These include financial coaches, interactive courses and seminars.
Review methodology
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.
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