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 160th largest credit union in the nation. It was established in 1934 and as of March of 2024, it had grown to 461 employees and 149,232 members at 17 locations. Altra Federal Credit Union 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

Reviews (1)

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.


Health Grade Components

NCUA #24077
Year Chartered1934
Primary Regulator
Profit Margin
Return on Assets - YTD0.64%
Return on Equity - YTD6.22%
Annual Interest Income$40.5MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$2.88B$2.63B
LoansQ1 2024vs Q1 2023$2.5B$2.35B
DepositsQ1 2024vs Q1 2023$2.41B$2.16B
Equity CapitalQ1 2024vs Q1 2023$294.4MM$269.2MM
Loan Loss AllowanceQ1 2024vs Q1 2023$26.4MM$23.9MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$15.7MM$11.8MM
Real Estate OwnedQ1 2024vs Q1 2023$1.2MM$0

Rates for Altra Federal Credit Union are currently being reviewed.



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