USALLIANCE 9-Month CD Rate Raised

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Deal Summary: Fixed Rate Certificates – 9-month (2.12% APY) and 18-month (2.32% APY), $500 minimum deposit

Availability: Easy membership requirement

At the end of March, USALLIANCE Financial (USALLIANCE) raised the rates on its 9- and 18-month Certificates, making both the top nationally available APYs in their respective length-of-term categories.

Good news – the 9-month Certificate has increased to 2.12% APY. Not so good news – the 18-month Certificate has fallen to 2.32% APY. The 9-month added 10 bps, while the 18-month dropped by 21 bps. The minimum opening deposit is $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.32%$500-USALLIANCE Financial18 Month CD
2.12%$500-USALLIANCE Financial9 Month CD
Rates as of May 21, 2018.

As stated in USALLIANCE’s Certificate Accounts Disclosure, the Early Withdrawal Penalty reads as follows:

If your Certificate Account has an original maturity date of less than 18 months,
the early withdrawal penalty will equal 180 days dividends on the amount withdrawn.

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the penalty amount will equal 360 days of dividends on the amount withdrawn.

According to the Certificate Accounts Disclosure, the ability to withdrawn principal before maturity is not necessarily a given.

You may make withdrawals of principal on a Certificate Account
at the discretion and approval of USALLIANCE Financial.

Accessing Maturing Funds

USALLIANCE Certificates have a grace period of seven calendar days, beginning on the maturity date. While seven days is on the short side, USALLIANCE has provided an easy method for accessing maturing funds.

Transfer Upon Maturity: If prior to maturity you elect to redeem your Certificate Account or the Credit Union does not automatically renew your account, the entire balance will be automatically transferred to your Share Management Checking, Share Management Savings, STAR Account or MyLife Account (Checking or Savings) for easy access. Please note: Jumbo Certificates do not renew automatically.

Once the funds are in a checking or savings account, an ACH transfer can be initiated from another bank.

Right To Call

In previous blog posts, I have cited USALLIANCE’s “right to call” any of its Certificates early, which according to USALLIANCE, has never been exercised. Nonetheless, the “right to call” is spelled out in the Certificate Accounts Disclosure, and 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 Share Management Checking, Share Management Savings, STAR Account or MyLife Account (Checking or Savings) for easy access.

Availability

Headquartered in Rye (Westchester County), New York, USALLIANCE Financial's field of membership (FOM) is wide and varied, providing almost any U.S. citizen or resident alien, with a valid Social Security number, a way to join.

The first page of USALLIANCE's online application details the various ways to join.

Easy Membership Requirement: The ninth option (associations or charitable organizations) listed under "I Qualify For Membership Because," 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 tenth 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.

Education: Registered students, staff, and faculty members of Columbia University and Manhattanville College (both in NYC) qualify for membership, as do members of Columbia University’s Alumni Association.

Religious Affiliation: Members of ten named houses of worship in the New York counties of Bronx, Sullivan, and Westchester are eligible to join.

Joining USALLIANCE and/or opening a Certificate can be done online, or at any of the following 20 branch locations:

  • Connecticut – West Haven (2)
  • Massachusetts – Cambridge, Danvers, Malden, and Medford
  • New York – Bronx, Ferndale, Napanoch (2), New York City (2), 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 7.46% (excellent) based on December 31, 2017 data. USALLIANCE has an average capitalization level (8.37%), the result of holding $1.38 billion in assets with $115.3 million in equity. 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 15th largest credit union headquartered in New York State, with more than 101,700 members and assets in excess of $1.3 billion.

How the Certificates Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are nationally available, USALLIANCE Financial’s 9-month Certificate Account APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
2.12% APY9-Month Certificate AccountUSALLIANCE Financial
1.96% APY9-Month CDMelrose Credit Union*
1.80% APYHigh Yield 9-Month CDAlly Bank

*Note: Melrose Credit Union is currently operating under an NCUA conservatorship.

When compared to the 166 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are nationally available, USALLIANCE Financial’s 18-month Certificate Account APY currently ranks fourth.

Interest RateCD Length of TermCredit Union/Bank
2.45% APY18-Months Online Time DepositMy eBanc
2.40% APY18-Month CDLive Oak Bank
2.36% APY18-Month CDColorado Federal Savings Bank
2.32% APY18-Month Certificate AccountUSALLIANCE Financial

The above rates are accurate as of 4/17/2018.

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

Related Pages: New York CD rates, Boston CD rates, Hartford CD rates, 1-year CD rates, nationwide deals

Comments
E pluribus unum
E pluribus unum   |     |   Comment #1
This seems to me a good rate of interest for such a short CD; but only considering instances where funds are invested in the conventional manner.
me1004
me1004   |     |   Comment #2
I note, US Alliance is one of the few banks or CUs that will not let you add a POD beneficiary without providing that beneficiary's Social Security number. As such, they lose my business. I went up the ranks, even an e-mail to the CEO, but they refuse to even discuss it (and, of course, blame it on the Patriot Act, which is 100% false, the Patriot Act does not require that for a beneficiary, only for an account holder). US Alliance remains one of the ignorant ones on that at point.

And you can get basically the same APY US Alliance is offering on itys 18-month CD by going to INOVA FCU, which is offering 2.30% APY but for only 14 months (a better term in this rising rate climate than 18 months) -- plus a $75 gift card for your first CD, which basically makes the APY 2.32% or more (depends on how much you invest). INOVA will add beneficiaries without requiring the Social Security number -- because, of course, the Patriot Act does not require the SS number, only idiots say that.
USALLIANCE Ups 18-Month CD Rate
Deal Summary: Fixed Rate Certificates – 9-month (2.02% APY) and 18-month (2.53% APY), $500 minimum deposit

Availability: Easy membership requirement

USALLIANCE Financial (USALLIANCE) has ended the month by raising the rates on its 9-month Certificate (2.02% APY) and 18-month Certificate (2.53% APY). USALLIANCE requires a minimum deposit of $500 on all of its Certificates, with no stated balance cap.

In the past four months, the 9-month Certificate gained 112 bps in three rate increases, while the 18-month Certificate’s rate increased by 94 bps in three...

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USALLIANCE Hikes Rate On 12-Month CD
Deal Summary: Fixed Rate Certificates – 12-month (1.87% APY), 15-month (1.92% APY), 24-month (2.12% APY), $500 minimum deposit

Availability: Easy membership requirement

DA reader, cumulus, noted in a Forum post that USALLIANCE Financial (USALLIANCE) raised the rate on its 24-month Certificate to 2.12% APY today. Cumulus also mentioned that the rate on the 35-month Certificate has dropped to 2.22% APY, following a brief (17 days) offering of 2.40% APY. In addition to these changes, the rates on the 12-month and 15-month Certificates were raised to 1.87% APY...

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USALLIANCE Ups 24-Month Certificate Rate
Deal Summary: 24-month Fixed Rate Certificate, 2.02% APY, $500 minimum deposit

Availability: Easy membership requirement

USALLIANCE Financial (USALLIANCE) is continuing to offer a variety of competitive CDs. In late October, the 24-month Fixed Rate Certificate rate increased 15 bps to 2.02% APY. The minimum deposit is $500, with no stated balance cap.

In little more than five months, six rate increases have added 78 bps to the 24-month Fixed Rate Certificate’s APY. Even though the 2.02% APY is the highest rate since the Certificate was added...

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USALLIANCE Adds 35-Month Certificate
Deal Summary: 35-month Fixed Rate Certificate, 2.38% APY, $500 minimum deposit

Availability: Easy membership requirement

In the past year, there have been 13 blog posts and Forum posts about products offered by USALLIANCE Financial (USALLIANCE). The latest competitive CD being offered by this prolific credit union is a 35-month Fixed Rate Certificate (2.38% APY). The minimum deposit is $500, with no stated balance cap.

This Fixed Rate Certificate is listed on USALLIANCE’s Savings Rate page, as opposed to the Investments page where the Certificate Specials...

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USALLIANCE Financial Ups Long Term Certificate Account Rates
Deal Summary: Fixed Rate Certificate Accounts: 25-month, 2.00% APY; 36-month, 2.173% APY; 48-month, 2.22% APY; $500 minimum deposit.

Availability: Easy membership requirement

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...

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