Mountain America

5.7

Overall Score

13 User Reviews

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Mountain America Credit Union was originally sanctioned as the Salt Lake Telephone Employees Credit Union in 1934. It wasn’t until 1984 when Mountain America Merged with Postal Workers Credit Union and acquired Entra Credit Union that they officially changed their name to Mountain America Credit Union. The new name would allow a better reflection of the diversity and range of their membership. Later, in 1988 Mountain America merged with Utah State Credit Union and became the second largest full-service credit union in Utah.

The Good

  • Checking accounts
  • Savings accounts
  • Term deposits
  • Credit cards

Mountain America Credit Union has expanded and continues to grow. It is quite easy to become a member of Mountain America Credit Union. Many employers throughout their service areas have aligned with Mountain America to offer their employees the opportunity to join Mountain America Credit Union and share in the benefits of being part of a credit union. A few of the companies they include are L-3 Communications, Questar Gas, Novell, State of Utah, Smiths grocery stores, and over 3,000 others.

Checking Accounts

Mountain America is a full-service credit union and offers services from basic checking accounts to home, car, and personal loans. Being a credit union, they are able to keep loan rates at a minimum and allow for better rates on savings in comparison to bigger banks. Mountain America offers a variety of checking accounts for their members to choose from. Aside from their totally free checking, they have a MyStyle checking account that receives a dividend APY of .10% and includes features such as Visa Debit Cards, online banking, bill pay, and e-statements. There is also no minimum balance required to maintain your account or for opening your account. Aside, from already earning a dividend, you can earn more rewards on top when you customize your MyStyle Checking account with:

  • Online Shopping Credits
  • Cash gifts
  • Loan discounts
  • Credit monitoring
  • D. protection
  • Dividends-earning options

Savings Accounts

With a Mountain America traditional savings account, your money can grow safely, building dividends until you need it. Mountain America offers their members' access to their savings accounts at ATMs, unlike many online savings accounts. As a member, you can make deposits at any branch. Their rates are compounded and paid monthly with a .10% APY for a basic savings account.

Term Deposits

Mountain America Credit Union also offers Term Deposits from anywhere between six months and five years. When a member sets up a Term Deposit they will get good dividend rates. Some of the benefits they offer their members who open a Term Deposit is higher earnings than a regular savings account, you can choose your length of term, and only a $500 minimum, they also offer CDs for younger kids to start to learn to save.

Credit Cards

Mountain America Credit Union offers two kinds of credit card options for their members to choose from each with its own benefits. They offer a Visa Platinum and a Visa Platinum Rewards. Both cards have comparable starting interest rates, there a no hidden fees or annual fees, and access to ATMs worldwide.

The Bad

  • Requirements for checking accounts
  • Uncompetitive rates

Mountain America Credit Union has a lot of stipulations that customers might not be aware of. They lack in several areas but here are the ones we think are some of the most important.

Requirements for Checking Accounts

Mountain America Credit Union offers two different checking accounts, a free checking account and a MyStyle checking account. The benefits of both accounts are both pretty basic, however the free checking account doesn't include a debit card, and they say that the MyStyle checking doesn't require a minimum opening or daily balance, but when looking at the rate schedule it says there must be a $1000 minimum earning balance required for the account. The rate for the MyStyle checking account is .10% which is pretty standard for most dividend checking accounts so that is okay. There are fees attached to the MyStyle checking account. It is a $4 monthly fee. The fee can be waived when a member chooses and uses a minimum of four eligible products or services. Each product or service is assigned a point value such as one point and can be used to go toward the "purchase" of certain rewards that are offered to those who have a MyStyle checking account. Members can also purchase additional point for $1 per point per month. To qualify to purchase additional points, members must have a minimum of four qualifying MyStyle products and services. This just seems like an awful lot of requirements to meet just to save $4 and only get .10% APY.

Uncompetitive Rates

Their savings account rates aren't that great either and they could probably do a little better on the rates that they offer for their Term Deposits. Their rates are a little on the low end compared to other credit unions who are generally at least .20%. The really great credit unions tend to start at .20% for savings accounts and at least .50% for a 12 month Term Deposit. They only offer two kinds of credit cards, that is okay, but sometimes people like a little more diversity in their choices.

The Bottom Line

There seems to be an awful lot of stipulations on their dividend checking accounts, and their free checking accounts don't seem to have all the benefits of other credit union checking accounts such as a debit card. Their rates are pretty low and the rewards that offered through the points you earn are actually things that many checking accounts already come with or can be obtained by asking customer service to help you out and waive a fee one time. It seems like while their mission is to help people reach their financial goals, there seems to be a lot in it for them with all the product and services they push and require their members to use. Mountain America Credit Union is not the best credit union option available for those living in Utah and surrounding areas.

User Reviews

3.4

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2

Keepin Itreal

December 19th, 2017 Washington, UT DETAILS

Value for your money
Quality of product or service
Customer Service
Company trustworthiness

I've been a MACU member for 10 years. When I joined they served the interests of the member and had competitive products. Over the last several years they have devolved to a greedy institution that clearly serves the interests of management and could care less about their members. Loan rates are average, deposit rates are laughable, and their member service is atrocious. I'm not sure what is more disappointing each time I visit: their sloth paced speed, the entire staff turnover, the lack of financial knowledge they (including their managers) possess, or their complete lack of social skills/professionalism. This credit union has really fallen apart in the last several years. I recommend choosing another institution to save yourself frustration, money, and time.

Helpful?

10

Tiffany

December 19th, 2017 Phoenix, AZ DETAILS

Value for your money
Quality of product or service
Customer Service
Company trustworthiness

My husband and I have been banking with MACU for years. We love that they have no fees, an excellent website, and user friendly App. I also love their free Money Manager App which is fantastic for budgeting.

Helpful?

10

Mark Frogley

December 19th, 2017 Phoenix, AZ DETAILS

Value for your money
Quality of product or service
Customer Service
Company trustworthiness

I set up my first bank account with Mountain America when I was in High School and have been loyal to them since. They have treated me so well I have not had to look elsewhere. I love that I can pay off my loans early whenever I want, fast and easy.

Helpful?

10

TJ

December 17th, 2017 DETAILS

Value for your money
Quality of product or service
Customer Service
Company trustworthiness

mountain America is a great place to bank with. they don't have all the fees and everything that the bigger banks do. My wife and I have really liked banking with MACU and their customer service is great!

Helpful?

10

Natasha

December 16th, 2017 Salt Lake City, UT DETAILS

Value for your money
Quality of product or service
Customer Service
Company trustworthiness

It has been awesome bank Mountain america, protected me from potential fraud when i was ordering items online due to my wedding. the rewards program has been awesome in helping me and my husband out when we need it, as well as help in vacation items. Helping me out when another company took to much money than wanted.

Helpful?

10

Suzanna Wootton

December 16th, 2017 Springville, UT

I have been a customer of Mountain America for awhile and i've always been pleased with their service.

Helpful?

10

Lindsey

December 6th, 2017 American Fork, UT DETAILS

Value for your money
Quality of product or service
Customer Service
Company trustworthiness

I've used Mountain America Credit Union since I was 15 years old. I will never go to another credit union because of the employees who are always so helpful and timely, the loans and credit cards are great, etc.

Helpful?

8

Hayley Lambdin

November 7th, 2017 Orem, UT DETAILS

Value for your money
Quality of product or service
Customer Service
Company trustworthiness

I currently bank with MACU. I love there rewards program! It is fantastic. Their mobile app make it really easy to check your account as well.

Helpful?

0

Daniel Coburn

October 6th, 2017

Started a small business account with them and they were horrible! When the account was starting it went overdraft by $1 and they charged us the $1 + $25, and continued to charge fees etc. vs. declining the transactions. We figured after seeing they would process debits in a fashion that would give them the most fees as possible, vs. calling you (like chase does) and having you correct things by EOD etc. Never do business with them!

Helpful?

0

William D Draney

September 6th, 2017 Salt Lake City, UT

Pathetic service. Over the last 3 years, I've had to either call or go into a branch office to change the spelling of my first name on my account from Willan to William. They still can't get it right. Had to call in again today as they mispelled it again on my new credit card. I'm drawing all the money out of my accounts and moving it to a credible CU.

Helpful?

0

Duc Holliday

June 27th, 2017 Broomfield, CO

This place is a joke, and that's being nice. I applied for an Re-Fi RV loan, and was pre-approved over the phone by Camron N. Faxed him the requested paperwork. Don't hear anything. Try to email and call him, no response. Finally I call back to talk to someone else. I get Sonia N. I tell her my situation, and she says she is sorry and I can deal with her. She says I have to reapply because its past 30 days now. Okay fine. Get approved again, send in the paperwork, and crickets. Same thing cant reach her by email or phone. Now if they found something they don"t like about my credit or whatever, fine. But at least have the courtesy to email or call me and let me know. Don't waste you're time with them unless you are into that kind of thing.

Helpful?

8

Jonny Hancock

June 1st, 2017 Salt Lake City, UT

I recently got a car loan through Mountain America and the process was simple. Within 30 minutes my loan was established and I was given a 2.9% rate. I would highly recommend using Mountain America for all your car loan needs.

Helpful?

9

Deric Lambdin

May 26th, 2016 Alpine, UT

For transparency, I was a former employee of Mountain America Credit Union. I now work in a completely different job field. Personally, my wife and I love their services and products. Their mobile app is absolutely amazing and allows us to be able to manage our finances with ease. Their fraud team is extremely fast at catching instances where your cards might have been compromised. Their loans and business services are also extremely impressive. I plan to continue to use them for several years down the road.

Helpful?