America First Credit Union Savings Accounts

America First Credit Union (AFCU) savings accounts are NCUA-insured deposit accounts that include the required Share Savings membership account, tiered Money Market Savings, Youth Savings for members under 18, Holiday and Wedding club accounts, Coverdell Education Savings, and Health Savings Accounts. Every savings tier is federally insured to $250,000 per depositor and uses routing number 324377516 for ACH and direct deposit.

Why a Share Savings comes first

At every US credit union, the first deposit account a member opens is a regular savings — usually called a Share Savings — and AFCU is no exception. The reason is structural: a credit union is a member-owned cooperative, and the share savings deposit acts as proof of ownership. AFCU describes it as the fundamental building block of a member's financial relationship with the credit union. The opening deposit is small (typically $1), there is no monthly maintenance fee, and the account stays open as long as the membership does. Once the share savings exists, members can layer on checking, certificates, loans, and the credit-card lineup.

The Share Savings pays a small dividend at the credit union's published rate. It is not designed as a high-yield savings vehicle — that role is filled by AFCU's Money Market Savings tier — but it is the qualifying account that opens the door to everything else AFCU offers, including the 30,000+ surcharge-free CO-OP and Allpoint ATM network.

Steps to open an AFCU savings account

1. Confirm membership eligibility.Eligibility extends to residents of qualifying counties in Utah, Nevada, Arizona, Idaho, New Mexico, California and Oregon, plus relatives of existing members and employees of partner Select Employer Groups.
2. Open the Share Savings.This is the membership account itself; a small deposit (commonly $1) funds the membership share and unlocks every other AFCU product.
3. Add specialised tiers as needed.Money Market Savings for higher yield, Holiday Club for seasonal saving, Wedding for couples, Coverdell ESA for education, HSA for tax-advantaged medical funds, or Youth for under-18 dependants.
4. Set up recurring transfers.Schedule automatic deposits from checking or direct deposit splits so savings grow with each pay cycle.
5. Enable digital access.Online banking at americafirst.com and the AFCU mobile app give 24/7 visibility into balances, transfers, and dividend posting.

Money Market Savings — AFCU's higher-yield tier

For members carrying larger balances that still need to remain liquid, AFCU's Money Market Savings is the workhorse account. AFCU positions it as "ideal for emergency accounts and short-term savings" — the dividend is meaningful, but the money remains available at any time. Money Market Savings is structured in balance tiers: as the balance crosses higher thresholds, the dividend rate steps up. This makes it well suited for emergency-fund parking, near-term home-purchase deposits, and the cash leg of a balanced portfolio.

The trade-off compared with an AFCU Certificate (CD) is straightforward — the certificate locks in a higher dividend for a fixed term, while Money Market Savings keeps the money fully accessible at a slightly lower rate. Members often use both: a money market for the working emergency fund, and certificates for funds that can be tied up for 6-60 months.

Youth, Holiday Club, Wedding, and education savings

AFCU's specialised savings tiers exist for specific life events. Youth Savings opens for members under 18 with no setup or maintenance fees, and is the standard pairing for a teenager's first Youth Checking account. Holiday Club is a once-a-year disbursement account designed for end-of-year spending: members deposit through the year and the balance is released in October or early November. The Wedding Savings account is positioned by AFCU as the account for couples planning to receive cash gifts — funds can later be moved to a down payment or used for newlywed expenses without restriction.

Coverdell Education Savings Accounts (ESAs) are tax-advantaged accounts for K-12 and higher-education costs; AFCU notes the appeal is high dividends on funds set aside specifically for schooling. Health Savings Accounts (HSAs) at AFCU are provided through a partnership with Lively, giving members access to the standard triple-tax-advantaged HSA structure (deductible contributions, tax-free growth, tax-free qualified withdrawals).

Key facts about AFCU savings accounts

NCUA insurance and what it actually covers

Every AFCU savings tier is federally insured by the National Credit Union Administration (NCUA) up to $250,000 per depositor per ownership category. NCUA insurance is the credit-union equivalent of FDIC bank insurance, backed by the full faith and credit of the United States government, and the coverage limit and mechanics mirror FDIC almost exactly. Joint accounts add another $250,000 of coverage per co-owner, and IRA accounts (including IRA share certificates) are separately insured to $250,000. Members with larger balances can structure deposits across ownership categories (individual, joint, retirement, revocable trust) to expand total covered insurance.

Overview & Key Features

America First Credit Union is the 6th largest US credit union with $23.3 billion in assets, 1.5 million members, and 116 branches across seven states. Its savings lineup covers the full life cycle: the required Share Savings membership account, tiered Money Market Savings for higher yield, Youth Savings for members under 18, Holiday Club and Wedding savings for life events, Coverdell ESA for education, and HSAs through Lively — all NCUA insured to $250,000.

• Share Savings: The membership account, opened first with ~$1 deposit, required for every other AFCU product
• Money Market Savings: Tiered-yield account ideal for emergency funds and short-term goals while staying liquid
• Youth Savings: For members under 18, no setup or maintenance fees, parental oversight tools
• Holiday Club: Annual savings cycle, balance released in October/November for end-of-year spending
• Wedding Savings: Built for couples, often funded by cash gifts at the wedding
• Coverdell ESA: Tax-advantaged education savings for K-12 and higher-ed expenses
• HSA: Triple-tax-advantaged Health Savings Account provided through Lively partnership
• NCUA Insured: All tiers federally insured to $250,000 per depositor per ownership category

People also ask about AFCU savings

Do I need a savings account to be an AFCU member?

Yes. The Share Savings account is the membership stake at America First Credit Union. It must be opened first and remains open as long as the member's relationship with the credit union does. The typical opening deposit is around $1 and the account has no monthly fee.

Is AFCU savings FDIC insured?

AFCU is federally insured by the NCUA — the National Credit Union Administration — which is the credit-union equivalent of the FDIC. Coverage is $250,000 per depositor per ownership category, backed by the full faith and credit of the United States government.

What is the difference between Share Savings and Money Market Savings?

Share Savings is the required membership account paying a small base dividend. Money Market Savings pays a higher dividend in tiered balance bands and is positioned by AFCU as the working account for emergency funds and short-term goals that still need to be liquid.

Can children open an AFCU savings account?

Yes. AFCU Youth Savings is available for members under 18, with no setup or maintenance fees. The account is commonly paired with Youth Checking and designed with parental visibility tools so families can build saving habits early.

Does AFCU offer Health Savings Accounts?

Yes, through a partnership with Lively. AFCU HSAs follow the standard triple-tax-advantaged structure: tax-deductible contributions, tax-free growth, and tax-free qualified medical withdrawals.