USAlliance Federal Credit Union has made a nice change to its spring CD special. The rate of its special 35-month CD increased from 1.61% to 1.71% APY. Its special 13-month CD rate remains at the very competitive level of 1.21% APY. Both have a $500 minimum deposit with no maximum deposit. New money and eStatements are required. These specials are listed at the credit union’s CD specials page as of 5/23/2014.
In my last review of USAlliance CDs, DA member cumulus described his experience last year with opening a USAlliance CD. Here’s an excerpt of his comment:
I opened USA's 24 month 2% CD online last July 1st and NO hard pull was done; opening process very smooth, uneventful.
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.
As I mentioned in my last post, 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 That has been replaced by the WARC organization. I recently noticed that I don’t have USAlliance Federal Credit Union on my Big List of Credit Unions Open to Anyone. The credit union actually asked not to be on this list. This might be due to NCUA Cracking Down on "Open to All" Federal Credit Unions. Thus, I’m not going to label USAlliance as an all-access credit union.
Credit Union Overview
USAlliance FCU branches are located in New Jersey, New York and Massachusetts. Some of the cities with branches include Jersey City, Hartsdale, Tarrytown and New York City.
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 This CD Rate Compares
The only nationally available CD with a term of around 35 months with a higher rate is the 36-month CD at Connexus Credit Union that has a 1.75% APY. However, this requires an active checking account. Close to this is the 36-month CD at Melrose Credit Union which has a 1.66% APY. The closest 3-year CD rate at a bank is 1.60% APY at Northern Bank & Trust Company.
These rates are accurate as of 5/23/2014.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.