USALLIANCE Financial Ups Long Term Certificate Account Rates

Unfortunately, USALLIANCE Financial (USALLIANCE) is no longer offering the Cooperative Rewards CD Specials it featured in August. Not to be left without a competitive rate or two, USALLIANCE raised the rates on some of its Fixed Rate Certificate Accounts last Friday. The 25-month (2.00% APY), 36-month (2.173% APY), and 48-month (2.22% APY) are the most attractive. The minimum deposit is $500, with no stated balance cap.

As stated in USALLIANCE’s Truth In Savings document, the Early Withdrawal Penalty reads as follows:

If your Certificate Account has an original maturity date of 18 months or longer,
the penalty amount will equal 360 days of dividends on the amount withdrawn.

Another important thing to note about the CDs is that USALLIANCE reserves the right to call a CD early. However, in the past USALLIANCE has assured anyone who asked that it had never used this right. Nevertheless, this right to call a CD early is in the Truth in Savings document, and it reads as follows:

The Credit Union has the right to call or redeem Certificate Accounts early. To call or redeem your Certificate Account early, the Credit Union will provide 60 days written notice to you. Should the Credit Union exercise this option, your Certificate Account will be redeemed without penalty on the day specified in the notice, and the entire balance, including earned dividends, will be automatically transferred to your transactional deposit accounts or STAR Retirement Account for easy access.

Just a reminder about USALLIANCE’s website: if you want to search for CD Specials, they’re listed under the “Investments” header, which is not where I would normally look for CDs. Currently, the above certificates are much more competitive than the listed CD specials.

Thanks to DA readers, ChasR and Carpline, for their Forum posts about the latest USALLIANCE deals.

Availability

Headquartered in Rye (Westchester County), New York, USALLIANCE Financial's field of membership (FOM) is wide and varied, with residency, employment, and charitable organization membership serving as qualifying criteria.

USALLIANCE's online application Disclosure page for membership and new accounts details the various ways to join.

Easy Membership Requirement: The eighth option (associations or charitable organizations) listed under "How Do You Qualify For Membership," lists eleven organizations and associations that can be joined by anyone.

• American Consumer Council (ACC)
• AOPA
• Arc of Westchester
• Council of Community Service
• New York Historical Society Museum and Library
• The Rye Arts Center
• St. Thomas Orchestra of Mamaroneck
• Sullivan ARC (Sullivan County residents only)
• The Bill Fish Foundation
• Tread Lightly!
• Unite Here

The ninth option allows you to join USALLIANCE and any of five named associations, including ACC, simultaneously.

By selecting one of the associational membership options below, which entitles me to membership with USAlliance Financial, I authorize USAlliance to submit my membership request to my chosen association.

Residency: Individuals who live, work, or worship in the Massachusetts counties of Barnstable, Essex, Middlesex, Norfolk, Plymouth, Suffolk, or Worcester are eligible for membership. In addition, individuals who live, work, or worship in the city of West Haven, Connecticut, and qualifying districts in Manhattan, Mount Vernon, and The Bronx, also qualify.

Employment: Employees of over 175 companies are eligible to join, including employees or retirees of the state or local government in the New York counties of Columbia, Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster, or Westchester.

Bethex Charter: USALLIANCE acquired Bethex Federal Credit Union in 2015 and former Bethex members have been grandfathered into USALLIANCE’s membership.

Joining USALLIANCE and/or opening a Certificate Account can be done online, or at any of the following 21 branch locations:

• Connecticut – West Haven (2)
• Massachusetts – Cambridge, Danvers, Malden, and Medford
• New York – Bronx, Ferndale, Napanoch (2), New York City (3), Otisville, Port Chester, Purchase, Rye, Somers, Wallkill, White Plains, and Woodbourne

Credit Union Overview

USALLIANCE Financial has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 8.44% (excellent) based on March 31, 2017 data. In the past year, USALLIANCE has increased its total non-brokered deposits by $36.74 million, an excellent annual growth rate of 4.02%. Please refer to our financial overview of USALLIANCE Financial (NCUA Charter # 17587) for more details.

USALLIANCE Financial was chartered in 1966 as a credit union for IBM employees. Formerly known as USAlliance Federal Credit Union, the Credit Union did a rebrand in September 2015 to "help drive home all that we have to offer to potential members." From humble beginnings in the company's basement cafeteria, USALLIANCE is currently the 18^th largest credit union headquartered in New York State, with more than 167,600 world-wide members and assets in excess of $1.2 billion.

How the CDs Compare

When compared to the 187 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and nationally available, USALLIANCE Financial’s 25-month Certificate Account APY currently ranks first.

When compared to the 190 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available nationwide, USALLIANCE Financial’s 36-month Certificate Account Special APY currently ranks first.

When compared to the 160 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available nationwide, USALLIANCE Financial’s 48-month Certificate Account APY currently ranks second.

The above rates are accurate as of 9/4/2017.

To look for the best CD rates, both nationwide in state specific, please refer to our CD rates table or our Rates Map page.