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.
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 That has been replaced by the WARC organization.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.