Alternatives Federal Credit Union

Overview / Commentary
125 N Fulton St
Ithaca, NY 14850

Alternatives Federal Credit Union is headquartered in Ithaca and is the 69th largest credit union in the state of New York. It is also the 1,512th largest credit union in the nation. It was established in 1978 and as of March of 2024, it had grown to 59 employees and 10,524 members at 1 location. Alternatives Federal Credit Union's CD rates are 5X the national average, but it has a C- health rating.

Field of Membership Restrictions

Membership in Alternatives Federal Credit Union is open to those who live in the New York counties of Cayuga, Chemung, Cortland, Seneca, Schuyler, Steuben, Tioga, or Tompkins.
See current membership details

Reviews (2)

Great Local Federal Credit Union With Great Service

Posted by: |

My husband and I opened accounts with Alternatives just after our wedding, and the workers there made the process so easy for us. I had changed my last name and they talked me through the process to open the new accounts, which was much easier than expected. We also met with a representative to discuss buying a house in the future, and they were very patient with us (as beginners in the home-buying process). I do wish there were more ATMs around town, as it's not always easy to get to the main branch. I also like that Alternatives seeks to provide service to the community through its programming (the Money Wise program, free tax preparation, etc). Overall, I'm happy we found a credit union that cares about its members and the community.

Don't Let All Of The Hype FOOL You!

Posted by: |

I CLOSED Both of my accounts because their "Manager" was RUDE to me and refused to accept my rolled coin for deposit. I took my business elsewhere and I'm Glad I did.
There are Much Better banks in Ithaca!


Health Grade Components

NCUA #23283
Year Chartered1978
Primary Regulator
Profit Margin
Return on Assets - YTD-0.03%
Return on Equity - YTD-0.45%
Annual Interest Income$1.7MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$147.1MM$162.3MM
LoansQ1 2024vs Q1 2023$86.2MM$87.1MM
DepositsQ1 2024vs Q1 2023$128.7MM$143.1MM
Equity CapitalQ1 2024vs Q1 2023$10.5MM$10.5MM
Loan Loss AllowanceQ1 2024vs Q1 2023$1.2MM$1.1MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$2.7MM$1.6MM
Real Estate OwnedQ1 2024vs Q1 2023$97K$97K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Alternatives Federal Credit Union Savings Account Rates

1.50%*$0$100kFree Kasasa Saver
OTHER TIERS: 0.10% $100k+
0.75%$5-IRA Savings
0.15%$100-Club Saving
0.15%$100-Homebuyers Club Account
0.15%$1-Student Credit Union Youth Savings
0.15%$25-Lucky Savers
0.05%$5-Regular Share Savings

Alternatives Federal Credit Union Checking Account Rates

3.00%*$0$20kFree Kasasa Cash Checking
OTHER TIERS: 0.10% $20k+
0.05%$5-Basic Checking

Alternatives Federal Credit Union CD Rates

4.08%$500-24 Month Share Certificate
4.08%$500-12 Month Share Certificate
4.07%$500-60 Month Share Certificate
4.07%$500-36 Month Share Certificate
4.07%$500-48 Month Share Certificate
3.04%$500-6 Month Share Certificate
2.02%$500-3 Month Share Certificate

Alternatives Federal Credit Union IRA Rates

4.08%$500-24 Month IRA
4.08%$500-12 Month IRA
4.07%$500-36 Month IRA
4.07%$500-60 Month IRA
4.07%$500-48 Month IRA
3.04%$500-6 Month IRA
2.02%$500-3 Month IRA

Alternatives Federal Credit Union Locations
Branch Office125 N Fulton StIthaca, NY 14850-3301

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