American Heritage Credit Union Review

(July 2024)

American Heritage Credit Union Review

In This Article

Our Verdict

Do you want a credit union that offers banking services including loans and investments in Delaware,  Philadelphia, Bucks, Montgomery and Camden Counties? You can’t have any better option than American Heritage Credit Union. As a member of this union, expect a competitive rate and numerous membership rewards. Nevertheless, prepare for high interest rates on investment accounts, savings, and checking accounts with interest earning features. You can access more than American Heritage Credit Union 35 branches in four states with about 280,000 members. Note this mind blowing feature about American Heritage Credit Union; the union runs a shared ATMs branch — which allows you to use the union’s catch at any credit union ATM machine across the country.

Corporate Headquarters

Philadelphia, Pennsylvania

Phone Number:

215.969.0777

https://www.americanheritagecu.org/ope

Pros

  • Runs a shared ATM branches
  • Offers membership rewards
  • Has numerous branches within the serving states
  • Offers different kinds of products

Cons

  • Lacks free checking accounts
  • Has a limited available by sates

Who This Product Is Best For

Consider this product if you are a customer who:

  • Resides in any of the American Heritage serving banks.
  • Desires membership rewards and tips.
  • Wants multifaced credit union.
  • Prefers credit union that prioritizes partnership with third party companies.

Who This Product Isn't Right For

Don’t take this credit union as option if you are a customer who:

  • Loves credit unions with free deposit accounts.
  • Doesn’t reside in the states where American Heritage serves.

What This Product Offers

Bank accounts: Enjoy varieties of bank accounts with American Heritage Credit Union. You can choose from checking accounts, savings accounts, investment accounts,  certificates and IRAs, youth accounts, personal debit cards and credit cards.

Loans and cards: Do you want to take out a loan to finance a project or improve your standard of living? You can place your bet on American Credit Union loans and cards. Understand that this union rarely offers business loans. However you can choose from mortgages, home equity loans, vehicle loans, student loans, personal loans, credit cards and more.

Investment: Looking for a credit union to build your future with? Then pick American Heritage Credit Union. You can plan your retirement with the union if you are a retiring salary earner. Some of the services in this category involve insurance,  real estate, intellectual properties and IRAs.

Product Details

Bank accounts 

Checking accounts: Create a checking account today to start building your daily needs. You can choose from different categories according to your social status. For instance,  choose a free checking account if you want an account that’s totally free in its entirety with no expected interest. Choose VIP checking if you want the union to charge you monthly and also earn a competitive interest per month. Other packages are; Platinum checking, identity checking, legacy club and cash management checking.

Savings account: Open a savings account with the union to either run an investment business in which you can save up to $250000. Bear in mind that you need a minimum of $2000 to open this kind of account. You can also keep your money in the account to continue earning 3.30% per year as the rate.

Money accounts: keep your dollars in this account and watch them grow. You can access the funds any time you wish and you need a  minimum of $2000 to open the accounts.

Certificates and IRAs: Keep in mind that you need $5000 to open this account.

Youth accounts: Secure the future of your child no matter the age with American Heritage Credit Union  youth accounts. You can have them in categories according to your child’s age. Little Patriot(0-4) Pat and Lucy’s Money Club(5-12), Benjamin’s Money Club (13-15), Independence Accounts (16-17) and Young Adult Accounts (18-22).

Independence debit cards: Get this debit card to save yourself from the stress of using a checkbook to perform transactions. Use a debit card for withdrawal, paying online, and generating receipts.

Credit cards: Pick any of the American Heritage credit cards to enjoy 3% cash back on every purchase. Also, know that 0% intro awaits you no matter your choice of card. Are you a lover of Mastercard products? This is a perfect choice for you. All American Heritage credit  cards  are Mastercard products.

Loans and cards

Mortgages: Get this loan to secure the house of your dream. If this is your first experience in taking this loan, you can get up to $5000. However, remember your new home serves as collateral for this loan.

Home equity: Do you remember this saying: Use what you have to get what you want. Exactly the same in home equity. Are you a house owner? Use your house to get the loan to improve your standard of living or even give your home a new appearance. You can get any amount between $5000 to 1,5000,000 with a competitive rate of 5.74 for a period of 36 months.

Motor vehicle loans: Fulfill your dream with American Heritage auto loans. Get the car of your choice or transform the current one into a new appearance. You can get up to $25000 and a rate of 6.24% for 75 months. In addition, you have a first two months payment free bonus.

Personal loans: Get American Heritage line of credit for your personal needs. Your rate is competitive with 12.65% for a period of 120 months.

Vocation loans: Take your family out of town to a dream place of your choice. Thinking of the expenses? Don’t worry; American Heritage offers vacation loans up to $1200 for 1 year to handle the financial gap.

Share loans: Use your savings as collateral and take out a loan not more than $300. You can have interest rate as low as 5%

Student loans: Worrying on how to complete your education because of some financial hiccups you are currently in? Choose this credit union. American Heritage partners with a third-party to finance student loans.

Investment

Investment & retirement center: Plan your retirement with American Heritage and let its specialists guide you on how to invest against your retirement.

Insurance: Sign up for American Heritage insurance schemes but bear in mind that this credit union partners with some third parties companies.

Where This Product Stands Out

Membership rewards

Get access to bonuses on credit cards and loans once you secure a membership approval for American Heritage Credit Union. These rewards include 2 months payment free on auto loans and 3% cashback on every purchase on your credit cards.

Multiple options

Understand that American Express offers a robust number of products which you can group into 3 categories, Bank accounts services, loans, and investment.

Low competitive rates

Choose American Heritage if you want a credit union that provides various kinds of lending options including credit cards at a lower rate.

Where This Product Falls Short

Limited by states

You can only  access the union in Delaware,  Philadelphia, Bucks, Montgomery and Camden Counties.  Don’t  choose American Heritage if you are not from any of these states.

Doesn’t offer business services

Do you want a credit union that offers business services? American Heritage may not be your best option then. This product focuses on personal products.

How to Qualify for This Product

To know if you qualify to be a member of American Heritage check if you meet any of the following requirements.

  • Work in any of the companies that sponsor American Heritage
  • Be a resident of American Heritage service area
  • Are you a relative of close family to any of the American Heritage employees

How to Apply for This Product

Get the following documents before you begin an application for the American Heritage credit union.

  • Birth certificate
  • SSN number
  • Driver’s license
  • Account information
  • Credit report and any other documents that may qualify you

Alternative to This Product

Consumers Credit Union

Choose Consumer credit union if you want a credit union that offers rewards checking accounts with over 5,600 branches and 30,000 ATMs across the nation.

PenFed Credit Union

Consider Penfed if you want access to a credit union that offers a variety of products and gives you access to 85,000 ATMs. You can also join it from anywhere in the United States.

Customer Reviews

American Heritage has a negative D rating on BBB after closing just 73 complainants with the bureau in the last 4 years.

Methodology

We reviewed *this product* based on 20 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated *this product* based on the weighting assigned to each category:

  • Loan cost: 35%
  • Loan details: 25%
  • Customer experience: 20%
  • Eligibility and accessibility: 10%
  • Application process: 10%

Within each major category, we also considered several characteristics, including available loan amounts, repayment terms and applicable fees. We also looked at minimum credit scores and time in business requirements and the geographic availability of the lender. Finally, we evaluated *this product* customer support tools, borrower perks and features that simplify the borrowing process—like online applications, prequalification options and mobile apps.

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