American 1 Credit Union CD & Share Certificate Review (2026)

Quick take: American 1 Credit Union is an NCUA-insured credit union headquartered in Jackson, MI with about $0.55B in assets. As of September 25, 2026, American 1 posted 3.35% APY on its 1-year share certificate and 3.35% on the 5-year (its best posted terms were 3.50% at 18 months and 2 years; $500 minimum). Membership: Restricted: MI residents in 11 qualifying south-central MI counties, sponsor employers, and family.

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CD vs MYGA, after tax

What $100,000 earns in 5 years: CD vs MYGA, after tax

AmountYears3 years5 years7 yearsCD rate (%)Federal bracket10%12%22%24%32%35%37%State tax (%)

Rates used: CD 4.50%, the top nationally available 5-year CD (DepositAccounts, September 24, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).

CD, interest taxed every year	$118,826
MYGA, tax-deferred, before tax	$133,507
MYGA after paying tax on all the interest at withdrawal	$126,136
Tax deferral alone adds about	$674
MYGA ahead of the CD, after tax	$7,310

Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.

American 1 share-certificate rate sheet

Here is the full posted term ladder, checked September 25, 2026:

Term	APY
30/60/90-Day	0.35%
180-Day	2.50%
1-Year	3.35%
18-Month	3.50%
2-Year	3.50%
3-Year	3.45%
4-Year	3.40%
5-Year	3.35%

APYs from american1cu.org (effective date shown as Saturday, September 26, 2026 on the rate page checked September 25, 2026). Credit unions reprice less aggressively than online banks, but rates still change, confirm on the American 1 website before funding. Promotional certificates (often on non-standard terms like 11/13/19/25/49 months) may pay higher than the standard rate sheet, ask before opening.

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Membership eligibility, who can join American 1?

Restricted: MI residents in 11 qualifying south-central MI counties, sponsor employers, and family.

The workaround: Must live/work in select south-central MI county or family.

Federally insured credit unions are legally required to limit membership to a defined "field of membership", but many CUs structure their bylaws to make joining trivially easy via a small donation, a free non-profit membership, or a low-fee sponsor-organization sign-up. The donation/sponsor approach lets you become an Associate Member, which qualifies you for the same accounts and rates as direct-eligibility members. Once you've opened a small share savings account ($5-$50 typical), you can open share certificates online in minutes.

If you can't qualify for American 1 membership, the most accessible national CUs are Alliant (Foster Care to Success $5 donation), Bethpage ($5 savings account, no donation needed), and Connexus ($5 Connexus Association donation).

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Pros and cons

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How American 1 compares to other credit unions and banks

Posted rates checked September 25, 2026 (credit unions from their own rate pages; Ally from ally.com, APYs accurate as of 09/26/2026; Barclays from banking.us.barclays, valid as of 9/11/2026):

Institution	APY (term)
Alliant CU	4.10% (12-17 mo)
Affinity Plus FCU	3.80% (12 mo)
Andrews FCU	3.70% (12 mo)
American 1 CU	3.35% (1 yr)
FourLeaf FCU (formerly Bethpage)	1.25% (12 mo); 4.00% (13 mo)
Ally Bank (online bank)	4.15% (12 mo)
Barclays (online bank)	4.25% (12 mo)

Credit unions can beat banks on share-certificate rates because they are non-profit and member-owned (on the September 25, 2026 check, though, Ally and Barclays out-paid all five of these credit unions at 12 months). They return profits to members in the form of better rates, lower fees, and lower loan APRs rather than to shareholders. But not every CU does this well. Restricted-membership CUs sometimes coast on rate; open-eligibility CUs (Alliant, FourLeaf/formerly Bethpage, Connexus) compete harder because they have to attract members nationally.

For an apples-to-apples comparison versus the highest online bank CDs (Marcus, Synchrony, Barclays, Ally), see Best 5-Year CD Rates 2026 and Credit Union vs Bank CD: structural differences.

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When a MYGA beats this share certificate

A Multi-Year Guaranteed Annuity (MYGA) is the insurance-industry equivalent of a CD: a fixed rate locked for a fixed term, principal-protected, backed by the issuing carrier and your state's guaranty association. At the 5-year term, A-rated MYGAs topped out around 5.80-6.00% (AnnuityRateWatch, September 24, 2026), versus American 1's 3.35% on its 5-year certificate.

Math at $250,000 over 5 years (simple annual compounding):

• American 1 5-Year @ 3.35%: $294,776 ending balance
• 5-Year MYGA @ 5.80% (low end of the A-rated range): $331,412 ending balance
• Difference: $36,636 in favor of the MYGA

MYGAs also defer tax on interest until withdrawal, CDs and share certificates are taxed annually as ordinary income whether you touch the interest or not. For taxable retirement money you don't plan to withdraw for 5+ years, the MYGA almost always wins on math. The trade-off: MYGAs have a fixed surrender schedule (usually 5-10 years), while share certificates have shorter penalty periods. See CD vs MYGA Comparison for the full side-by-side.

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NCUA vs FDIC, is the credit union really as safe?

Yes. The National Credit Union Administration (NCUA) insures federally chartered and most state-chartered credit unions up to $250,000 per depositor, per ownership category, the same coverage limit as FDIC. The two agencies use different funds (the National Credit Union Share Insurance Fund vs. the Deposit Insurance Fund), but both are backed by the full faith and credit of the U.S. government. In 50+ years of credit union history, no depositor has ever lost a penny of NCUA-insured funds.

What to verify before opening: confirm American 1's NCUA-insured status at ncua.gov/research using NCUA charter #60008. If you have more than $250K with one CU, restructure into joint, IRA, or trust ownership categories to expand coverage, each category gets its own $250K limit.

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Bottom line on American 1

American 1 Credit Union is a legitimate NCUA-insured CU with a rate sheet that's competitive within the CU peer group. The 1-year rate is solid; the 5-year rate is meaningfully behind A-rated MYGAs. If you're a member by direct eligibility (or you've used a $5 workaround), the short-term certificates are a fine place for money you might need in 12-24 months. For 5+ year money, run the MYGA math first.

And remember: most CUs auto-renew at the rate posted on the renewal date, which is often well below the promotional rate you got at opening. Set a calendar reminder 30 days before maturity to compare current rates and decide whether to renew, withdraw, or move the money to a MYGA.

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FAQ, American 1 share certificates

What APY does American 1 pay on a 1-year share certificate?

As of September 25, 2026, American 1 posted 3.35% APY on its 1-year share certificate (eff. 9/26/2026). Rates change frequently; confirm on the American 1 website before opening.

How do I join American 1 Credit Union?

American 1 is restricted to MI residents in 11 south-central counties (Jackson, Calhoun, Hillsdale, Lenawee, Eaton, Ingham, Washtenaw, Branch, Kalamazoo, Barry, Livingston), sponsor-employer employees, and family of existing members. There's no donation-based national workaround.

Is a share certificate at this credit union as safe as a bank CD?

Yes. Federally insured credit unions are insured by the NCUA (National Credit Union Administration) to $250,000 per depositor, per ownership category, the same coverage limit and federal backing as FDIC. The two agencies use different funds, but both are backed by the full faith and credit of the U.S. government.

What is the early withdrawal penalty (EWP) at American 1?

For terms under 12 months: 90 days div.. For longer terms: 180 days div. (terms >12mo). If accrued dividends are insufficient, the penalty comes out of principal, so the timing of the withdrawal matters.

What is the minimum deposit for a American 1 share certificate?

$500. NCUA insurance covers up to $250,000 per depositor per CU; if you have more than that, split between institutions or use joint-account titling to expand coverage.

Does American 1 auto-renew certificates at maturity?

Yes, American 1 typically auto-renews at the current posted rate for the same term unless you give written instructions during the grace period (usually 7-10 days). Set a calendar reminder; the auto-renewed rate is often below promotional or jumbo-tier rates available at maturity.

Should I consider a MYGA instead of a credit-union CD?

At the 5-year term, A-rated MYGAs topped out around 5.80-6.00% (AnnuityRateWatch, September 24, 2026) versus American 1's 3.35% (eff. 9/26/2026). That's a gap of roughly 2.45 points or more on a 5-year contract. MYGAs are tax-deferred (interest isn't taxed until withdrawal); CDs are taxed annually. The trade-offs: MYGAs have a surrender schedule (usually 5-10 years), while CDs let you exit with an interest-only penalty. For taxable retirement money you don't need to touch for 5+ years, the MYGA usually wins on math.

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Related reading

• Credit Union vs Bank CD: structural differences
• Best 5-Year CD Rates 2026, top APYs vs MYGA math
• CD vs MYGA Comparison, which fits your money
• Best MYGA Rates 2026, current top A-rated carriers
• CD Ladder vs MYGA Ladder strategy

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Disclosure

This review reflects publicly posted credit-union rates and APYs checked September 25, 2026. Share-certificate rates change frequently, confirm current rates directly with American 1 Credit Union before opening an account. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific banking or insurance product. American 1 Credit Union is NCUA-insured to $250,000 per depositor, per ownership category, the same coverage limit and federal backing as FDIC. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated annuity carriers; he is NOT a credit union employee, broker-dealer, or registered representative, and is not paid by American 1 Credit Union for this review. No compensation has been received from American 1 Credit Union in connection with this content. MYGA comparisons reference rates from A-rated carriers as of the date stated; carrier rates change monthly. Always read the actual share-certificate disclosure or annuity contract before purchasing.