Altra Federal Credit Union Adds A+ Platinum Checking, 3.50% APY


Deal Summary: A+ Platinum rewards checking, 3.50% APY on qualifying balances up to $15k.

Availability: Select census tracts in MN, TN, TX, and WI; many SEGs, including Trane and Trane authorized dealers.

Wisconsin-based Altra Federal Credit Union (Altra FCU) has added a new rewards checking account (RCA), A+ Platinum, which earns 3.50% APY on qualifying balances up to $15k. Qualifying balances above $15k earn 0.40% APY, with non-qualifying balances earning 0.10% APY.

3.25*%-$15kAltra Federal Credit UnionA+ Platinum
OTHER TIERS: 0.20% $15k+
Rates as of February 27, 2024.

Qualification Requirements

  • Receive monthly A+ Platinum Report Card and eStatement via email.
  • Log in to Online Banking or Mobile app at least once per cycle.
  • At least one Direct Deposit of at least $250 per cycle.
  • Have at least 20 Altra Visa Debit Card purchases per cycle.

The A+ Platinum account has no monthly fees or minimum balance requirement. One box of free checks is available to members age 60+ and a free welcome pack of checks will be given to students. There is a limit of one A+ Platinum account per member.

While there is no ATM fee reimbursement for the A+ Platinum account, Altra FCU participates in the CO-OP ATM and Shared Branch program, giving member access to nearly 30,000 ATMs and more than 5,000 shared branches across the country.

You can make a deposit, withdrawal, or loan payment at a Shared Service Center. You
will need a valid ID and your account number. Deposits generally have a two day hold.

A+ Checking

No, this is not the same RCA. I’m not a fan of the same type of accounts with very similar names because of the confusion factor. The A+ Checking is Altra FCU’s older RCA and is still being offered, earning 2.75% APY on qualifying balances up to $15k. Like the A+ Platinum account, qualifying balances above $15k earn 0.40% APY, with non-qualifying balances earning 0.10% APY.

2.25%-$15kAltra Federal Credit UnionA+ Checking
Rates as of February 27, 2024.

The qualifying requirements are similar to that of the A+ Platinum account, with the following exceptions:

  • At least one Direct Deposit of at least $50 per cycle.
  • Have at least 10 Altra Visa Debit Card purchases per cycle.


Headquartered in Onalaska, Wisconsin, Altra Federal Credit Union until recently offered membership nationwide by joining the Altra Foundation.

The new smaller field of membership (FOM) includes individuals who live, work, worship, or attend school in specific census tracts in:

Wisconsin – La Crosse

Minnesota – Rochester or Winona

Tennessee – city of Clarkesville or Montgomery County

Texas – city of Tyler or Smith County

Employees of Trane and/or Trane Authorized Dealers qualify for membership, as do employees of many SEGs.

Individuals who work for or attend a variety of schools in Wisconsin, Minnesota, Tennessee, and Texas are eligible to join, as are their immediate family and household members.

Immediate family (parent, child, sibling, grandparent, grandchild, including step- and adoptive) and household members (roommate, spouse/domestic partner, or foster child) of membership-eligible individual are also welcome to apply.

Joining Altra FCU and/or opening an A+ Platinum account can be done either online, or at any of the 15 branch locations in Colorado (1), Kentucky (1), Minnesota (3), New Jersey (1), Tennessee (2), Texas (2), and Wisconsin (5). Note: the Colorado, Kentucky, and New Jersey branches are located within a Trane facility and may have limited access.

Credit Union Overview

Altra Federal Credit Union has an overall health grade of "A" at, with a Texas ratio of 5.27% (excellent), based on September 30, 2018 data. In the past year, Altra FCU has increased its total deposits by $91.48 million, an excellent annual growth rate of 8.08%. Please refer to our financial overview of Altra Federal Credit Union (NCUA Charter # 24077) for more details.

Altra Federal Credit Union was founded in 1931 as the Trane Employees Credit Union, by 33 Trane employees who pooled together $179. Altra Federal Credit Union is currently Wisconsin’s tenth largest credit, with more than 102,000 members and assets in excess of $1.5 billion. The “Altra” name in was chosen in 2005,

to reflect the increased diversity of our membership while honoring our
history by combining the words alliance, Trane, allegiance, and tradition.

How the A+ Platinum Compares

Since Altra FCU’s FOM includes several states, I’ve opted to use nationally available accounts for this comparison. Therefore, when compared to the High Yield Reward Checking Accounts tracked by, which are nationally available and have maximum qualifying balances of at least $15k, Altra Federal Credit Union’s A+ Platinum APY currently ranks second.

The above rates are accurate as of 2/21/2019.

To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Philadelphia checking accounts, Rochester checking accounts, Nashville checking accounts, La Crosse checking accounts, Tyler checking accounts, Colorado Springs checking accounts, reward checking accounts

  |     |   Comment #1
Too bad they quickly lowered the interest rate on this A+ platinum checking account back down to 2.75% in only a year after the federal reserve lowered interest rates again! I'd rather see Altra just stick at 3% for several years like Lake Michigan Credit Union did, rather than get everyone's hopes at 3.5% up only to see them dashed as soon as the federal reserve interferes in the interest rate market
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