USALLIANCE Financial


Overview / Commentary
914-921-0500
411 Theodore Fremd Ave, Suite 350
Rye, NY 10580-1426

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

USALLIANCE Drops $5 Withdrawal Fee For High Dividend Savings - 3/22/2021

A CSR confirms that USALLIANCE has recently dropped the withdrawal fee for the High Dividend Savings account. Current yield is a relatively competitive 0.55%, which is also the rate on the 11-month no penalty CD.

USALLIANCE Murders 12-Month CD Special Rate - 3/12/2021

USALLIANCE has slashed the 12-month CD special from last month's 0.85% to 0.65%. Apparently new rates went into effect March 10. https://www.usalliance.org/about-us/rates/savings-rates#certificate-accounts

USALLIANCE Financial Adds Three Competitive Certificate Specials - 2/17/2021

USALLIANCE Financial (easy membership) has added 3 limited-time Certificate Specials with very competitive rates. These have terms of 12, 18 and 24 months.

View all posts from:

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).

Best Customer Service

I worked with a particular manager at USAlliance. She was super diligent to help the process of opening an IRA and transferring a Trad IRA from another financial institution. She never took longer than 24 hours to get back to me and it was usually less than 15 minutes. I have nothing but good things to say about USAlliance. They are great there!

Account Opening Was Very Time Consuming

Posted by: |

Recently, I opened a new 12-month CD and member checking account at this very large credit union. I was told they have over 100,000 members and 2 separate customer service call centers in 2 different states. I opened these 2 accounts by phone all in one very long day, and during this long process talked to 9 different customer service representatives. They were all nice to work with, but they made several important mistakes and gave me incorrect information several times.

First, they entered my name and address incorrectly. I later caught these errors, but it was time consuming to go back and correct them in their various systems. Second, they needed to pull my credit report from one credit bureau. I have security freezes on all 3 credit bureaus, so I asked them which credit bureau they used. They said I could unfreeze any one of them, but after I chose one and unfroze it, they said they only use Experian, which was not the one I chose. So I had to spend more time and go through the unfreezing process again.

Third, they said I could use a credit card to make an initial small deposit into my new member checking account, and that there would be no charges or fees of any kind by the credit card company for this transaction. In actuality, the credit card company charges me for this transaction as a cash advance.

Fourth, I funded this new account by using an inbound wire transfer. USAlliance gave me a routing number and account number to do this, but the new account number they gave me was wrong and did not correspond to any account they currently have. So they said they did not receive any incoming wire transfer deposit, and they told me the wire transfer was rejected. However, when I called back 8 hours after my initial phone call to them, my account showed that the wire transfer did successfully go through, and I was able to finally open the CD that same day.

In short, if you open an account by phone, allow many hours to complete the process and check constantly for errors on their part. Why go through all of this? Because their promotional CD interest rates are among the highest offered at present.

$5.00 Per Withdrawal

Posted by: |

High Dividend/Business High Dividend Savings Withdrawal $5.00 per withdrawal

https://www.usalliance.org/hubfs/assets/documents/disclosures/usalliance-fee-schedule.pdf

Customer Service DOES NOT Exist

Posted by: |

I applied for a skip a payment over a week ago. Got the confirmation email and nothing else. The payment date came and they took the automatic withdrawal out and didn't skip. I called customer service and was told Oops we don't know what happened. We're just so busy. You can pay $50 and skip next month's payment. Im injured from work fighting workers comp and took a settlement. Im unemployed now due to settlement and they just said oops. Our mistake. We can't do anything to correct our mistake but if you ever have a problem call customer service and we'll go above and beyond!! Ha ha. You can't even do your jobs correctly or handle your mistakes but you will go above and beyond??? Get real! Avoid this place of you can!!

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Health
B+

Health Grade Components

Overall
NCUA #17587
Year Chartered1966
Employees226
Primary Regulator
Profit Margin
Return on Assets - YTD0.43%
Return on Equity - YTD5.95%
Annual Interest Income$71.4MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$2.01B$1.84B
LoansQ4 2020vs Q4 2019$1.79B$1.62B
DepositsQ4 2020vs Q4 2019$1.52B$1.37B
Equity CapitalQ4 2020vs Q4 2019$143.5MM$135.2MM
Secondary CapitalQ4 2020vs Q4 2019$18.0MM
Loan Loss AllowanceQ4 2020vs Q4 2019$21.0MM$13.2MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$12.6MM$14.2MM
Real Estate OwnedQ4 2020vs Q4 2019$672.00K$672.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not USALLIANCE Financial; 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.

USALLIANCE Financial Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*-$500MyLife Savings
OTHER TIERS: 0.02% $500+
2.00%*$1$500MyLife Kids Savings
OTHER TIERS: 0.02% $500+
0.65%$1-Education Savings Account
0.55%$500-High Dividend Savings
0.40%$25-STAR Account
0.25%$1-Club Account
0.10%*$2k*-Savings Plus Account
OTHER TIERS: 0.05% Up to $2k
0.05%*$2k*-Share Management Savings
OTHER TIERS: 0.02% Up to $2k
0.05%*$2k*-Kids Savings Account
OTHER TIERS: 0.02% Up to $2k
0.05%*$2k*-Teen Savings Account
OTHER TIERS: 0.02% Up to $2k
0.05%*$2k*-Health Savings Account
OTHER TIERS: 0.02% Up to $2k

USALLIANCE Financial Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$1m*-MyLife Money Market
OTHER TIERS: 0.05% Up to $2k | 0.07% $2k - $10k | 0.10% $10k - $50k | 0.15% $50k - $100k | 0.25% $100k - $250k | 0.40% $250k - $500k | 0.50% $500k - $1m
0.30%*$75k*-Platinum Money Manager Account
OTHER TIERS: 0.05% Up to $75k
0.25%*$25k*-Super Savings Money Manager Account
OTHER TIERS: 0.05% Up to $25k
0.25%*$50k*-Diamond Money Manager Account
OTHER TIERS: 0.05% Up to $50k
0.20%*$5k*-Silver Money Manager Account
OTHER TIERS: 0.05% Up to $5k

USALLIANCE Financial CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%$500-24 Month Certificate Special
0.85%$500-60 Month Certificate
0.80%$500-48 Month Certificate
0.75%$500-36 Month Certificate
0.65%$500-18 Month Certificate
0.65%$500-18 Month Certificate Special
0.65%$500-12 Month Certificate Special
0.60%$500-24 Month Certificate
0.60%$500-24 Month Step-Up Certificate
0.55%$500-12 Month Certificate
0.55%$500-11 Month No Penalty CD Special
0.50%$500-9 Month Certificate Special
0.50%$500-12 Month Step-Up Certificate
0.25%$500-9 Month Certificate
0.20%$500-6 Month Certificate
0.15%$500-3 Month Certificate
Locations

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