Altra Federal Credit Union

Overview / Commentary
1700 Oak Forest Dr
Onalaska, WI 54650

Altra Federal Credit Union is headquartered in ONALASKA and is the 10th largest credit union in the state of Wisconsin. It is also the 165th largest credit union in the nation. It was established in 1934 and as of June of 2023, it had grown to 450 employees and 142,078 members at 17 locations. Altra Federal Credit Union's money market rates are 13X the national average, and it has an A health rating.

Field of Membership Restrictions

Altra Federal Credit Union offers membership to those who live, work, worship, or attend school in specific census tracts in La Crosse, Wisconsin; Winona or Rochester, Minnesota; City of Clarksville or Montgomery County, Tennessee; or City of Tyler or Smith County, Texas. Employees of Trane or a Trane Authorized Dealer also qualify for membership. Immediate family member/household member of a current Altra Federal Credit Union are eligible to join.
See current membership details

Correction To Review Re: Posting Order

Posted by: |

The previous review is not correct. Altra posts credit before debits. All ACH credits are posted first, then debits. Checks that come in for a particular day are cleared in numeric order at the end of that business day. We do everything possible to give the member most advantageous posting order.

The only exception is Debit card PIN purchases or ATM withdrawals are posted as they occur and a check cashed at one of our branches will clear immediately.

If the member would like to discuss, please stop in or call our Member Service center. We'd be happy to discuss further.

P.S. The comment system would not let me reply to the previous review or post this without a star rating - I am not trying to skew the ratings!

Good Overall, Dislike Interest-Rate Swings In High Interest Checking

Joined this credit union in 2018 from a friend's recommendation and was not disappointed based on their high-interest checking accounts.

Easy to join even if outside field of membership requirements. The donation for $5 or so isn't so bad since you'll more than make up for it with interest rates on your balance.

Downsides are:

1. If you use this account to save money, they make it a little annoying to move money out. Outbound external transfers cost $5 each, but they offer "Altra Pay", which is their brand of "Payzur P2P" payments. You can do these for free in any amount up to $1000 per 24-hour period. They also participate in the credit union co-op shared branching/ATM. You can withdraw up to $500 from your debit card per day. Or just walk into the branch of another participating credit union to withdraw or deposit money without getting hit by fees like you would at the ATM.

2. Their interest rates are less stable compared to other big Midwestern credit unions such as Evansville Teachers FCU or Lake Michigan Credit Union. Altra used to only have A+ checking until 2019, when they came up with A+ platinum checking. The A+ checking makes you do 20 transactions. They don't have minimum required transaction amounts so if you want to do $0.50 gift card reloads on Amazon, pump tiny amounts of gas or find a store willing to do penny transactions, the account can still yield ~2% annually. Also slightly annoyed they are offering promotional rates for new members to join A+ platinum checking. Wish they'd prioritize current members first because dedicated savers like us are the ones who recommend friends and family to join. If they cut their interest rate on deposits, they should also cut the required transaction limit too. Otherwise it feels like a bit of a money grab.

3. Last time I checked, they don't offer personal checks for free outside of the first 8 they provide when signing up for a new account.

Altra Will Not Add Beneficiary Without Notarized Paperwork

Posted by: |

I have been a customer at Altra FCU for years and on my original app long ago had included my beneficiaries. However when buying two new CDs this year, they would not guarantee my beneficiaries apply to the new CDs until I send in notarized documents. Their rates are good but not good enough for that hassle, and also the fact they did not notify me that my existing beneficiaries are suddenly not applicable is unprofessional at the least.


If you're looking for interest rates that can't be beat once you jump through some hoops, this is your bank as long as you don't mind the absence of the "personal" interaction.



Health Grade Components

NCUA #24077
Year Chartered1934
Primary Regulator
Profit Margin
Return on Assets - YTD0.9%
Return on Equity - YTD8.72%
Annual Interest Income$60.6MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$2.70B$2.32B
LoansQ2 2023vs Q2 2022$2.41B$2.05B
DepositsQ2 2023vs Q2 2022$2.24B$1.95B
Equity CapitalQ2 2023vs Q2 2022$274.9MM$256.9MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$14.8MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$12.6MM$10.5MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not Altra Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Altra Federal Credit Union Savings Account Rates

0.75%*$5k*-Health Savings Account (HSA)
OTHER TIERS: 0.50% Up to $5k
0.75%*$5k*-Business Health Savings Account
OTHER TIERS: 0.50% Up to $5k
0.50%--IRA Savings
0.50%$25-Saver's Sweepstakes
0.10%$5-Business Regular Savings
0.10%--Special Savings
0.05%$5-Regular Savings

Altra Federal Credit Union Money Market Rates

5.59%*$1m*$3mIndexed Money Market
OTHER TIERS: 0.10% Up to $250k | 4.59% $250k - $500k | 4.79% $500k - $750k | 5.19% $750k - $1m
2.50%*$150k*-Best Life Advantage Money Market
OTHER TIERS: 2.00% Up to $15k | 2.10% $15k - $50k | 2.20% $50k - $75k | 2.30% $75k - $100k | 2.40% $100k - $150k
2.49%*$250k*-Business Money Market Account
OTHER TIERS: 2.00% Up to $10k | 2.10% $10k - $25k | 2.20% $25k - $75k | 2.40% $75k - $250k

Altra Federal Credit Union Checking Account Rates

3.25%*-$15kA+ Platinum
OTHER TIERS: 0.20% $15k+
2.25%-$15kA+ Checking
0.15%*$20k*-Business Edge (checking)
OTHER TIERS: 0.05% $5k - $10k | 0.10% $10k - $20k

Altra Federal Credit Union CD Rates

5.00%$100$4kGraduation Youth CD
5.00%$1k-13 Month Thrive Bump CD Special
5.00%$1k-Business 13 Month Thrive Bump CD Special
4.00%$100$2kGrow Up Youth CD
4.00%$1k-37 Month Thrive Bump CD Special
4.00%$1k-Business 37 Month Thrive Bump CD Special
3.00%*$1k*$25k25 Month First Time Homebuyers' CD
OTHER TIERS: 1.90% $25k+
2.20%$1k-60 Month CD
2.05%$1k-36 Month CD
2.05%$1k-48 Month CD
1.90%$1k-24 Month CD
1.80%$1k-12 Month CD
1.80%$1k-18 Month CD
1.80%$5k-12 Month HSA CD
1.20%$1k-6 Month CD

Altra Federal Credit Union IRA Rates

5.00%--13 Month Thrive Bump IRA Special
4.00%$1k-37 Month Thrive Bump IRA Special
2.20%$1k-60 Month IRA
2.05%$1k-48 Month IRA
2.05%$1k-36 Month IRA
1.90%$1k-24 Month IRA
1.80%$1k-12 Month IRA
1.80%$1k-18 Month IRA


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