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Home | FAQ's
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Frequently Asked Questions

Thank you for applying for a Share Certificate with American 1 Credit Union. We are currently experiencing a high volume of inquiries and will reach out to you in the order your application was received. Below are tips to prepare for your call with one of our specialists and to ensure we can open your account quickly.  
  • Does American 1 perform a hard pull on my credit?
    • Yes, American 1 Credit Union requires all new members to complete a hard credit pull to open an account.
  • Does American 1 need Identification such as a photo I.D. or passport?
    • Yes, identity verification is required to open an account with American 1 Credit Union.
  • Are my deposits with American 1 Credit Union NCUA Insured?
    • Your funds are automatically federally insured up to $250,000 and backed by full faith and credit of the United States Government
  • Where are you located?
    • We are headquartered at 718 E. Michigan Ave, Jackson, MI 49201. However, we have 16 physical branches throughout Michigan and a 24/7 Contact Center.
  • What are the requirements to be a member?
    • Applicants must join the Community 1 Co-op and pay the $3 joining fee to apply for membership at American 1. $5 must also be kept in your American 1 Primary Share Savings Account throughout the length of your membership.  
  • Can I become a member if I do not live in Michigan?
    • Yes, as membership is not limited by where you live. Other eligibility requirements may apply.
  • How can I fund my Share Certificate?
    • A Share Certificate may be funded through a wire transfer, cash, ACH, or check.
  • What is the penalty for removing funds from my Share Certificate before term?
    • The penalty for early withdrawal is 90 days of dividends paid out plus any dividends made over our Primary Share Savings account rate (currently, 0.50%).
  • Are IRA Share Certificates included in this promotion?
    • No, IRA Share Certificates are not included for this specific promotion.
  • Does a Share Certificate compound interest?
    • A Share Certificate from American 1 does not compound interest. Dividends are paid out either monthly, quarterly, semi-annually, annually, or at Share Certificate maturity. Funds can be placed in your American 1 share account of your choice or mailed by check.
  • Is there a limit to how much I can deposit?
    • No, there is no limit to how much you can deposit into a Share Certificate. Although, insured limits should be considered when making an investment.