USALLIANCE Financial began in 1966 as a credit union for IBM employees. Today, from its branch locations in the Northeast United States and through convenient and secure online and mobile banking options, USALLIANCE Financial serves over 90,000 members around the world.
The credit union provides a range of financial products and services, including the following personal depository banking products: checking accounts, savings accounts, health savings accounts (HSAs), money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs).
USALLIANCE Financial’s checking accounts include a special account option for teenagers. There is also a savings account option for children. The credit union’s money market account yields tiered interest rates, with higher rates for larger account balances. CD terms range from 3 to 60 months. USALLIANCE Financial offers Traditional, Roth, and Coverdell Education Savings Account IRA products.
In addition to the depository products mentioned above, USALLIANCE Financial also offers loans, lines of credit, and insurance options to its members.
Field of Membership Restrictions
Membership in USALLIANCE Financial is open to anyone through membership in any of four associations, including the American Consumer Council. Membership is open to those who live, work, or worship in the Massachusetts counties of Barnstable, Essex, Middlesex, Norfolk, Plymouth, Suffolk, or Worcester; the City of West Haven, Connecticut; or qualifying districts in Manhattan, Mount Vernon, and The Bronx. State or local government employees/retirees of the NY counties of Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Sullivan, Ulster, Westchester are also eligible to join, as are employees of more than 175 SEGs. Complete membership requirements are listed on the Credit Union's online application.
See current membership details
Related Posts
5/13 - Rate Increase To 1.00% On High Dividend Savings
5/9 - 18 Month CD Increase
5/3 - USALLIANCE Financial Nearly Doubles 11-Month No Penalty CD Rate
4/30 - 11 Month No Penalty CD: Big Increase To 1.25% APY
4/2 - USALLIANCE Financial 48-Month CD Special Is A Rate Leader
3/22 - 18 Mo. Term Dropped From 1.50% To 1.25%
2/26 - USALLIANCE Financial 18-Month CD Special Is A Rate Leader
2/25 - USAlliance 18-Month CD; 1.50%
2/9 - USALLIANCE Financial Substantially Boosts 24-Month CD Special Rate
2/8 - USALLIANCE 24Month CD Now At 1.25% APY
1/17 - USALLIANCE Financial Boosts 18-Month CD Special Rate
1/14 - USALLIANCE 18Month CD Now At 1.05% APY
1/11 - USALLIANCE 18Month CD Now At 0.95% APY
11/2 - USALLIANCE 12Month CD Now At 0.85% APY
8/26 - USALLIANCE Financial Boosts 12-Month and 18-Month CD Special Rates
8/26 - USALLIANCE 18Month CD Now At 1.00% APY
6/30 - USALLIANCE Financial Boosts 18-Month CD Special Rate
5/7 - USALLIANCE Financial Brings Back 35-Month Certificate Special
3/22 - USALLIANCE Drops $5 Withdrawal Fee For High Dividend Savings
3/12 - USALLIANCE Murders 12-Month CD Special Rate
2/17 - USALLIANCE Financial Adds Three Competitive Certificate Specials
2/13 - USALLIANCE Competitive CD Rates
11/27 - 36 Month 1.25%, 18 Month 1.15%
11/11 - USALLIANCE Financial Adds 35-Month Certificate Special
10/2 - USALLIANCE Financial Changes Certificate Special Rates
10/1 - USAlliance 1.05% APY, 12 & 18 Mth Cds, $500 Minimum
9/11 - USALLIANCE Financial Offers Four Certificate Specials
8/28 - USALLIANCE Financial Adds 11-Month No-Penalty CD
6/12 - US Alliance Has CD Rates Of 1.50% (36Mth);1.45% (18 Month) And 1.10% (12 Mth)
5/22 - USALLIANCE Financial Ups 18-Month CD Special Rate
3/19 - USALLIANCE Reduces Rate On Mylife Savings
2/1 - Usalliance Announces Rates, Effective 2/1/2020
9/24/19 - UsAlliance Continues Rate Drop - 15 Month CD Special @ 2.70% is M.I.A.
9/9/19 - USALLIANCE Financial Ups CDs, 9-month 2.50% APY, 15-month 2.70% APY
7/1/19 - Usalliance Continues Rate Drops, Flattens Long End
6/14/19 - USALLIACE Correction
6/14/19 - 12 Month Promotion Gone
6/3/19 - USALLIANCE Financial Adds 12-Month CD Special, 3.00% APY
6/1/19 - 12 Month 3% CD
5/8/19 - Usalliance Drops Out Of 3% Club Again
4/5/19 - USALLIANCE Financial Adds 18-Month CD Special, 3.00% APY
4/1/19 - Usalliance Drops Out Of 3% Club
1/4/19 - USALLIANCE Financial Unveils High Dividend Savings, 2.30% APY
1/1/19 - Usalliance Increases Rates On 12- And 24-Month Certificates
10/20/18 - Updated, Correct, Info Re Usalliance 2-Yr & 3 Yr. Promotional Cds
10/19/18 - Usalliance Raises 3-Year Promotional Yield To 3.25%
9/22/18 - Usalliance Lowers 3-Yr. CD Yield To 2.80% (Was 3.25%)
8/24/18 - USALLIANCE Adds Promo Rate On 12-Month CD
8/7/18 - USALLIANCE Financial Raises 24-Month CD Rate
8/2/18 - Assorted CD Rate Changes At Usalliance
7/9/18 - USALLIANCE Financial Offers Special Rate 35-Month CD To Everyone
6/21/18 - 35 Month 3% CD 25 Month 2.85% Now for all
6/14/18 - USALLIANCE Financial Ups 25- And 35-Month CD Rates
6/13/18 - 25 Basis Point Rate Bump Ups
6/1/18 - New CD Rates
4/17/18 - USALLIANCE 9-Month CD Rate Raised
3/31/18 - USALLIANCE Ups 18-Month CD Rate
3/31/18 - 18-Month CD Rate
12/22/17 - USALLIANCE Hikes Rate On 12-Month CD
12/22/17 - USALLIANCE CD Rate Changes. Quick Look.
11/10/17 - USALLIANCE Ups 24-Month Certificate Rate
11/10/17 - 24-Month CD Now 2.02% APY
10/27/17 - USALLIANCE Adds 35-Month Certificate
10/27/17 - USALLIANCE 35 Month CD 2.38% APY. Quick Look.
9/4/17 - USALLIANCE Financial Ups Long Term Certificate Account Rates
9/3/17 - 48- And 60-Month CD Rate Hikes
9/1/17 - 25-Month And 36-Month CD Rates
8/10/17 - USALLIANCE Adds Cooperative Rewards CD Specials
8/9/17 - 2.28% APY 36 Mth, 2.02% 24 Mth, 1.51% 15 Mth. $500 Minimum
6/29/17 - Rate Changes
5/15/17 - 2.20% APY 36-Month Special CD
4/26/17 - USALLIANCE Financial Adds 36-Month High Yield CD
4/25/17 - 2.2% APY 36-Month Special CD
3/4/17 - 15Mo CD Special No Longer Available
2/22/17 - USAlliance CD Specials Withdrawn. Quick Look.
11/29/16 - USALLIANCE Financial's MyChoice CD Option Adds 0.25%
8/3/16 - New Website
2/3/16 - USALLIANCE Financial Continues To Offer Top Rate 15-Month CD
11/6/15 - USALLIANCE Financial Adds 5-Month CD Special - New Members
9/21/15 - USALLIANCE Financial Revives 25-Month CD Special
9/18/15 - 25-Mo. CD Special Is Back
7/24/15 - USAlliance FCU's "Summer Blow Out" Rate On 25-Month CD Special
7/21/15 - USAlliance CD Specials; Clarification.
7/11/15 - 25 Month 2.01% CD
6/4/15 - Usalliance Fed CU Rates Go Up
5/28/15 - USAlliance Federal CU Raises Rate On 25-Month Fixed Certificate Again
5/4/15 - USAlliance Federal CU Has Top Rate 15-month and 25-month CD Specials
5/3/15 - Usalliance 15M/1.51%, 25M/2.01% (Hush-Hush?) CD's. Quick Look.
4/1/15 - USAlliance Federal CU Offers Two New CD Specials (Nationally Available)
11/7/14 - Win $3,000/$5,000 Cash From Usalliance FCU; CT, MA, NJ, NY Only.
10/31/14 - Usalliance Ends 13 Month CD Special
9/10/14 - USAlliance Federal CU's Competitive Rate 13-month CD Special: It's Back
9/9/14 - 1.30% APY, 13-Month CD Special
8/11/14 - USAlliance Federal CU New 25-Month CD Special (Nationally Available)
5/23/14 - USAlliance FCU Increases Rate of its 35-Month CD Special
5/7/14 - USAlliance Credit Union can call CDs early
5/2/14 - Special CDs with Top Rates at USAlliance FCU - Easy Membership
5/1/14 - Usalliance Spring CD Special
5/1/14 - CD Specials From Usalliance Credit Union
6/28/13 - Special CD Rates at USAlliance FCU - Easy Membership
1/8/13 - Special 15-Month CD Rate at USAlliance FCU - Easy Membership
12/10/12 - Special 12-Month CD Rate at USAlliance FCU - Easy Membership
2/12/09 - 4.03% 18-Month CD at USAlliance FCU in NY, NJ & MA
2/12/09 - 3.46% 11-Month and 18-Month CD at USAlliance Federal Credit Union in MA, NY and NJ
3/15/07 - 5.60% 15-Month CD at a MA/NJ/NY Credit Union (US Alliance)
3/3/07 - 6.00% 7-Month CD at a Colorado CU (US Alliance).
I Highly Recommend
I've been with USAlliance for 50 years. My father (an IBMer) opened an account for me when I was 13. Their mortgage rates are reasonable. I got a classic credit card from them at 10% ! You can't beat that. And my credit rating is nothing great - very average. The customer service is great as long as you call during business hours. Thier fraud department is excellent. My elderly mom got scammed by phone scammers and USAlliances fraud dept. saved the day ! If you apply for a mortgage ask for an older experienced rep as the younger ones can be insensitive and innattentive.
I've only one complaint about the on-line website - the logout button needs to be MUCH BIGGER !
Generally Good But When They Are Bad....
I have a few products with them, their Visa Sig flat rate 3% credit card (rate declines at end of 2022) and some CD/IRA CD, with very competitive rates. But....
Because of the rates, I moved some money from a maturing IRA CD at another institution (the excellent Evansville Teachers) to USAlliance. I did this the safest way, trustee to trustee, a cashiers check goes directly from ETFCU to USAlliance. A few days later, the IRA CD is opened in USAlliance. Today I get a message that the check has been returned as duplicate presentation, and they removed the money from the CD, and said they will also charge a $35 fee.
Now as they were the only ones with the cashier's check, a duplicate presentation is probably their action. Eventually I got them to agree that they had indeed presented it twice on different days, causing the duplicate error. OK, fine (well not really but...) but put the money back! It would have been fine had they credited the account twice and removed one, but they only credited once and removed once, so I am currently out the tens of thousands in the check. But they will research it and get back to me. I said that they didn't seem to need time to remove the money, but ... no sense of urgency at all.
I called ETFCU and they were helpful, confirming the check was sent and that it was presented twice by USAlliance, the first time the funds were there and the second was caught as a duplicate.
So my lesson, known by lots here, is that chasing the higher rates isn't always a good idea.
The problem here is that until now, USAlliance has been pretty good for me. But no more IRA money to them
Overall NOT A Good Experience
While they might offer decent rates on their accounts and credit cards, as Ken correctly points out their capitalization is dismal at best. Therefore if you do bring your business here do not exceed NCUA insurance limits.
In terms of their credit card, their cash back rate might be good, BUT, your ability to use the card will be severely limited. While their policy clearly states "The Credit Union may delay replenishing Your credit limit until the date the payment is posted or the Credit Union confirms the payment has cleared," the REALITY is according to supervisors I have spoken with at cardmember services and the credit union, "Our policy is that we will delay replenishing Your credit limit until 7-10 business days after payment is POSTED."
Be prepared to jump through major hurdles if you attempt to redeem for cash back. You MUST first open a USAlliance checking account. Even if you are a current credit union member, that process will require your application to be processed as a new member. Then according to the website CUREWARDS it will take 10 business days.
In terms of redeeming for travel, read the yelp reviews on their travel provider and get ready to roll the dice.
Another case of when it seems to good to be true....it probably is not.
Beware Credit Hit!
" Even if you are just interested in becoming a depositor member and not utilizing any of the great loans that we have here at USAlliance, yes, a hard credit pull must be run." PROMPT response after business hours the same day within 2 hours to my query. Good for responsive service, not for applicants. There ARE credit unions not whacking would-be depositors this way. Procedure is not any law or regulation.
Hard pull hazard is becoming omnipresent, for NO CLEAR REASON other than supercaution. It dings your credit score and prevents many credit cards with bonuses from being added to your financial life. Financial troublemakers can likely be screened out from a soft pull, or from further/later running hard pull on doubtful cases.
Data as of Q4 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 17587 |
| Year Chartered | 1966 |
| Employees | 249 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.38% |
| Return on Equity - YTD | 17.21% |
| Annual Interest Income | $73.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $2.23B$2.01B |
| Loans | Q4 2021vs Q4 2020 | $1.98B$1.79B |
| Deposits | Q4 2021vs Q4 2020 | $1.70B$1.52B |
| Equity Capital | Q4 2021vs Q4 2020 | $175.4MM$143.5MM |
| Secondary Capital | Q4 2021vs Q4 2020 | $18.0MM |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $17.8MM$21.0MM |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $6.5MM$12.6MM |
| Real Estate Owned | Q4 2021vs Q4 2020 | $883.00K$672.00K |