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The bottom line: Credit Union of Atlanta is a good option if you want to bank with a minority-led institution that gives back to its community. Its strongest products are its share certificates, which pay solid interest rates. If you prioritize opening a money market account, though, you’ll likely prefer options from our guide for the best money market accounts.
Credit Union of Atlanta: Overall Bank Rating
FeatureInsider rating (out of 5)Savings3.75Checking4Share certificate4.25Money market account3.25Trustworthiness5Total4
Credit Union of Atlanta: Pros and Cons
ProsCons
Minority-led credit union
Solid interest rates on share certificates
Shared branch network
Large free ATM network
Membership is limited to people who work for certain employers and attend certain churchesCredit unions branches are only in Atlanta (can’t open new accounts at shared branches)Low interest rates on savings and money market accounts
You must open a Credit Union of Atlanta Share Savings Account to become a member of the credit union. This savings account has zero monthly service fees and a Credit Union of Atlanta Share Savings Account minimum opening deposit. But it isn’t the best option if you want to earn a high interest rate.
Credit Union of Atlanta Share Draft Checking Account
Credit Union of Atlanta Share Draft Checking Account is good if you’re looking for a checking account that makes it easy to avoid monthly service fees. To waive the fee, you just need to enroll in online bank statements and direct deposits.
Also, bear in mind that this account is advertised as an interest-bearing checking account on Credit Union of Atlanta’s website, but it doesn’t offer interest at this time.
Credit Union of Atlanta Share Certificate
The Credit Union of Atlanta Share Certificate is probably the institution’s strongest product. It pays solid rates compared to other brick-and-mortar banks. You may find higher CD rates at online banks, though.
Credit Union of Atlanta Share Plus Money Market Account
You may prefer to use the Credit Union of Atlanta Share Plus Money Market Account offers a similar interest rate to the Credit Union of Atlanta Share Savings Account, but compounds interest more frequently. It might be worth considering if you want an account that has paper checks.
How Credit Union of Atlanta Works
Credit Union of Atlanta is designated as a minority-led credit union (MDI) by the NCUA. The NCUA defines an MDI as a credit union in which “more than 50% of its current members are minority individuals, more than 50% of its current and eligible potential members are minority individuals, and more than 50% of its current board members are minority individuals.”
Credit Union of Atlanta has two branches in Atlanta. It’s part of the CO-OP Shared Branch network, so there are around 5,000 shared branches around the US. You can’t open an account at a shared branch, but you can receive assistance.
There are four free Credit Union of Atlanta ATMs. You can also use 30,000 free ATMs in the MoneyPass network.
The Credit Union of Atlanta mobile app has 3.5 out of 5 stars in the Apple store, and 4.3 out of 5 stars in the Google Play store.
Contact customer support Monday through Thursday from 8:30 a.m. to 4 p.m. ET, and Friday from 8:30 a.m. to 5 p.m. ET.
Your deposits are federally insured by the NCUA for up to $250,000, or up to $500,000 for joint accounts.
How to Join Credit Union of Atlanta
Credit Union of Atlanta membership is limited to employees of certain organizations, such as the city of Atlanta, Zoo Atlanta, and Atlanta public schools. You can also join if you’re an employee or member of a handful of religious congregations.
See the full list of organizations and churches here.
The Role of Black-led Financial Institutions
There is a history of racial prejudice in banking and lending that has significantly impacted Black Americans and contributed to a racial wealth gap in the US. Black-led financial institutions serve an integral role in providing services and products to Black communities.
Credit Union of Atlanta has a scholarship program for students under the age of 24. The credit union also has financial education resources, such as online finacial tools, debt management consultations, and a free credit score report.
Credit Union of Atlanta Trustworthiness and BBB Rating
The Better Business Bureau gives Credit Union of Atlanta an A+ rating. A good BBB grade indicates a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
A strong BBB score doesn’t guarantee you’ll have a smooth relationship with a credit union, though. You may still want to read online reviews or ask friends and family members about their experiences.
Credit Union of Atlanta doesn’t have any public controversies.
Credit Union of Atlanta vs. Citizens Trust Bank
Citizens Trust Bank is a bank, not a credit union. So if you don’t qualify for membership with Credit Union of Atlanta, Citizens Trust is the clear choice.
Citizens Trust offers more types of checking accounts than Credit Union of Atlanta, so you may find one that suits your needs. But Credit Union of Atlanta pays much better rates on certificates.
Credit Union of Atlanta vs. Unity National Bank
Unity National Bank is the better option if you aren’t eligible to join Credit Union of Atlanta. You also may like the Unity National Bank Money Market Account, which has a low minimum deposit and includes a debit card.
But if you want to open a share certificate, Credit Union of Atlanta pays better rates.
Credit Union of Atlanta: Frequently Asked Questions
How do you join the Credit Union of Atlanta?
To become a member of the Credit Union of Atlanta, you or a family member must work or be a member of one of the businesses or organizations on this list. All members will also need to open the Credit Union of Atlanta Share Savings Account with $25.
Is Credit Union of Atlanta federally insured?
Yes. When a credit union is federally insured, this means money will be safe even in the rare circumstance that a bank shuts down. Federally insured credit unions will have up to $250,000 secure in individual accounts and $500,000 in joint bank accounts.