The Atlantic Federal Credit Union Review

Finding a credit union that offers excellent rates and a wide range of products can make managing your finances much easier. Unfortunately, too many traditional financial institutions offer mediocre rates on savings.  

That's not the case with The Atlantic Federal Credit Union. Like many of the best credit unions, they offer attractive rates and enough products and services to handle most, if not all of your banking needs.

However, if you live in proximity to one of its two branches, it might be worth checking out. I share all of the details in this Atlantic Federal Credit Union Review. 

What Is The Atlantic Federal Credit Union?

The Atlantic Federal Credit Union is a New Jersey-based credit union that has been around for over 85 years. It currently operates two physical branches in New Jersey. In order to work with this credit union, you must meet the following criteria:

• Live, work, worship, attend school, or regularly conduct business in Union or Essex County, New Jersey. 
• If you live in another location, you can also be an immediate family member of an existing member. Eligible family members include spouses, children, siblings, parents, grandparents, grandchildren, stepchildren, stepparents, step siblings, and adopted children.

You must open a Savings account with at least $1 to access the products offered by the credit union. 

What Does It Offer?

The Atlantic Federal Credit Union is a full-service financial institution. For individuals, you’ll find deposit accounts, loans, and credit cards. The credit union also offers access to business banking products, like lending and checking accounts. For the purposes of this review, I will focus on the personal accounts offered through The Atlantic Federal Credit Union.

Ultra Checking

The Ultra Checking account is an interest-bearing checking account offered through Atlantic Federal Credit Union. While earning interest through a checking account is a good thing, there is a monthly maintenance fee of $15 on the account, which can be waived by maintaining a minimum monthly balance of $1,000. 

As of December 2024, the credit union offers a 4.00% APY on the first $10,000 in the Ultra Checking account. When you have more than $10,000 in your account, the offered APY will fall. The funds over $10,000 will only earn a rate of 0.01%. You need to make an initial deposit of $1,000 to open a checking account. Once open, you’ll have access to a Visa debit card, online banking, online bill pay, mobile banking, and e-Statements. 

Smart Checking

There are no monthly fees or minimum balance requirements for the Smart Checking account. You also get a free Visa debit card and free Online Banking with Bill Pay, Mobile Banking, E-Statements, and account alerts. While the Smart Checking is not an interest bearing account, the free banking offers excellent value. 

Savings Accounts

The Atlantic Federal Credit Union offers three different high-yield savings account options. Let's take a closer look at each one: 

Money Market Account

In partnership with Raisin, Atlantic Federal Credit Union is offering an amazing Money Market account that currently offers a 4.02% APY with just a $1 minimum opening deposit. 

Check out the Atlantic FCU Money Market Account here >>

Kickstart Savings

The Kickstart Savings account is designed to offer a great APY on smaller savings balances. As of writing, it offers a 3.75% APY on balances of up to $10,000. Beyond the $10,000 threshold, the rate drops to 0.01%. There is a $100 minimum deposit requirement to open an account.There is a monthly maintenance fee of $10, unless you maintain a minimum daily balance of $100.  

Smart Savings

Next up is the Smart Savings account, which is designed for members with at least $10,000 in savings. The rate offered varies based on your account balance, here’s the breakdown:

• 0.01% APY on balances between $0-$10,000
• Earn 1.40% APY on balances between $10,000.01 and $25,000. 
• Earn 2.40% on balances over $25,000.00

Like the Kickstart Savings account, the Smart Savings account requires a minimum daily balance of $100 to avoid the $10 monthly fee. 

Ultra Savings

The Ultra Savings account is designed for big savers. As of writing, you can earn 4.00% APY on balances up to $1 million. The catch is that there's a steep $100 monthly fee, which can only be waived if you maintain a minimum balance of $100,000.

Share Certificates

The Atlantic Federal Credit Union offers a range of Share certificates, which are essentially the credit union’s version of a certificate of deposit (CD). Regardless of the term, you’ll need a minimum opening deposit of $500.

As with all Share certificates, you’ll face an early withdrawal penalty if you withdraw the funds before the term is up. 

Are There Any Fees?

Most Atlantic Federal Credit Union accounts have a monthly maintenance fee, which can be waived if you maintain a minimum balance in the account. The minimum balance requirements vary depending on the account.

Checking Account Plans

Savings Account Plans

How Does The Atlantic Federal Credit Union Compare?

Atlantic Federal Credit Union is one of many places to conduct your banking activities. While the interest-bearing accounts are enticing, the relatively high monthly fees might push you to explore other options.

For example, First Tech Credit Union offers a Rewards checking account that pays 3.50% interest on balances of up to $25,000 without charging a monthly fee.

Another option for savers is American First Credit Union's Raisin money market account. With no monthly fee, you can earn 5.15% on your savings. That’s significantly higher without the threat of a fee cutting into your earnings.

How Do I Open An Account?

If you decide you want to open an account with The Atlantic Federal Credit Union, you’ll need to navigate to the account opening page. From there, you’ll fill out a short application. Be prepared to provide a copy of a non-expired government-issued ID for yourself and any joint owners.

Is It Safe And Secure?

Eligible Atlantic Federal Credit Union deposits are insured by the National Credit Union Administration (NACU), up to at least $250,000. If the credit union closed its doors, your funds would be safe. It’s always best to work with a financial institution that offers this kind of deposit protection.

Contact

If you need to get in touch with The Atlantic Federal Credit Union, you can chat through the website or call the customer support team at 908-245-1750. The team is available to help you during normal business hours. 

Is It Worth It?

The Atlantic Federal Credit Union is a worthwhile option for savers who want to put their funds to work for them. By maintaining the minimum balance requirements, you can avoid the monthly account fees. However, you’ll need to choose your account carefully to maximize your earnings based on your balance.

The main drawback is that The Atlantic Federal Credit Union is a small, 2-branch credit union based in New Jersey. So unless you live, work, attend school, or conduct business in Union or Essex county, you're out of luck.  

However, if you live in New Jersey and prefer in-person banking, then The Atlantic Federal Credit Union might be a good fit. But if you don’t meet the eligibility requirements, you’ll need to look elsewhere for an appropriate credit union. 

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