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Special CDs with Top Rates at USAlliance FCU - Easy Membership

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USAlliance Credit Union

USAlliance Federal Credit Union has regularly offered CD specials. The latest one is a spring special with two very competitive CD rates: 1.21% APY for a 13 month term and 1.61% APY for a 35 month term. Minimum deposit is $500, and there’s no maximum deposit. New money and eStatements are required. These specials are listed at the credit union’s CD specials page as of 5/2/2014. Thanks to DA readers cumulus and scottj who mentioned these promos in the DA forum.

DETAILSINSTITUTIONAPYMINMAXPRODUCT
USAlliance Credit Union1.71%$500-35 Month CD Special
Accounts mentioned in this post. Rates as of August 22, 2014

Membership

The credit union has an online application that can be used to apply for membership and new accounts. In the first page of the new-member application, you must select how you are eligible to join. The second-to-last option can be chosen by anyone:

WARC envisions a world in which children, teens and adults with intellectual and developmental disabilities including individuals on the autism spectrum enjoy fulfilled lives and an inspired future. Help children and their families by becoming a WARC member which entitles you to membership at USAlliance.

It’s interesting to note that the application used to have the option to join the American Consumer Council (ACC). That has been replaced by the WARC organization.

Readers have reported that the credit union’s application process works well. DA member scottj mentioned in the forum that he "did the 24 month 2% last July and was very easy to open."

Credit Union Overview

USAlliance FCU branches are located in New York, New Jersey and Massachusetts.

Around 40 years ago USAlliance Federal Credit Union started as a credit union for IBM employees. Today, USAlliance has over 60,000 members and assets in excess of $855 million.

The credit union has an overall health grade at DepositAccounts.com of a B+ with a Texas ratio of 17.25% (above average) based on December 2013 data. Please refer to our financial overview of USAlliance FCU for more details. The credit union is federally insured by the NCUA (Charter # 17587).

How These CD Rates Compare

Experienced CD investors know the best deals are often the special CDs with non-standard terms. That’s the case with 1-year CDs. If you include 13-month terms in this group, you can get a rate that’s higher than any 12-month CD rate. That’s the case with this USAlliance special. Xceed Financial Credit Union also has a similar special. It’s offering a 13-month CD with a 1.25% APY. If you only want a 12-month term, the best yield is 1.15% at Melrose Credit Union.

USAlliance’s 1.61% APY 35-month CD special isn’t quite as competitive. Melrose Credit Union has a 36-month CD with a 1.66% APY.

These rates are accurate as of 5/2/2014.

Searching for the Best CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to our CD rates table.


  Tags: USAlliance Credit Union, CD rates, New York, New Jersey, Massachusetts

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Comments
10 Comments.
Comment #1 by OldGuy posted on
OldGuy
As of this moment, the online application system at USAlliance is malfunctioning, so I had to open my new CD over the phone.  The CSR promised the credit union would get right on the problem to get the software back up and running correctly.

3
Comment #2 by Scottj (anonymous) posted on
Scottj
After going back and looking at my posts I saw I did not open online last July on the 24 month 2%, I tried but had problems due to my creditfreeze. I had a branch about 30 minutes away so went in and opened with no problem and no hard pull like what will be done online 

4
Comment #3 by Anonymous posted on
Anonymous
What do you mean by "hard pull"?

1
Comment #4 by cumulus posted on
cumulus
I opened USA's 24 month 2% CD online last July 1st
and NO hard pull was done; opening process very
smooth, uneventful.  A hard pull generally ding's
your credit score; hard pull detail here.

5
Comment #7 by scottj posted on
scottj
That's good to know, I just assumed since they told me mine could not be opened online due to my freeze that they must do a hard pull

1
Comment #6 by Anonymous posted on
Anonymous
Trust accounts are allowed....at least they were back last year....however it was quite an involved process with significant paperwork.  The CU and the call center tells you they need a complete copy of the trust but in reality they did not.  Like most CU's and banks titling the account in trust confuses them.....I ended up just opening the account and then converting the account into a trust account.a couple of months later.

3
Comment #8 by Anonymous posted on
Anonymous
To deposit money the recipient must obtain a credit report...is that what I'm reading?  Why is a credit report required?  I had heard that even if one bought a new car with cash a credit report was also required/pulled.  Is all of this so that the gov't can track the individual b/c clearly no credit is involved AND as noted if a report is requested it impacts one's credit?  Is anyone concern with that?  Did the "fine print" authorize the bank, etc. to access/obtain your credit report (in the noted two situations) and why would one agree w/o asking "why?"

2
Comment #9 by pearlbrown posted on
pearlbrown
The credit union gives itself the right to call CDs early in its membership agreement. 

2
Comment #10 by Anonymous posted on
Anonymous
Does it say w/o cost or charge...if not, then they will have to pay for the privilege of exercising the call.

1
Comment #11 by CapitalClimate posted on
CapitalClimate
Online ACH limit is $20K for new accounts.  Call to Customer Service is necessary for larger transfers.

1