USALLIANCE Adds Cooperative Rewards CD Specials - 24-month, 2.02% APY


Deal Summary: Cooperative Rewards CD Specials: 15-month, 1.51% APY; 24-month, 2.02% APY; 36-month, 2.28% APY, $500 minimum deposit, promo code COOPCD, e-Statements required.

Availability: Easy membership requirement.

Now through August 31, 2017, USALLIANCE Financial (USALLIANCE) is offering three Cooperative Rewards CD Specials: 15-month, 1.51% APY; 24-month, 2.02% APY; 36-month, 2.28% APY. The minimum deposit is $500, with no stated balance cap. In the past, USALLIANCE has required new money for their CD Specials, there’s no mention of that restriction for the Cooperative Rewards CD Specials. There is, however, this fairly benign requirement:

Member must be enrolled or enroll for eStatements at the time of account opening.

Also, promo code, COOPCD, must be used when applying.

Although the promotional email sent to current members states,

This offer will not be advertised to the public- you won't even see it on our website!

I received written confirmation from USALLIANCE that, “Any of our members (new and existing) can participate.”

2.28%$500-USALLIANCE Financial36 Month Cooperative Rewards CD Special
2.02%$500-USALLIANCE Financial24 Month Cooperative Rewards CD Special
1.51%$500-USALLIANCE Financial15 Month Cooperative Rewards CD Special
Accounts mentioned in this post. Rates as of August 10, 2017.

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 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the early withdrawal penalty will equal 180 days dividends on the amount withdrawn.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the penalty amount will equal 360 days of dividends on the amount withdrawn.

Update 8/11/17: 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.

Thanks to DA readers, Sylvia, ChasR, and cumulus, for their Forum posts and emails about USALLIANCE’s latest CD Specials.


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 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 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

At the moment, opening a Cooperative Rewards CD Special must be done in person at any of USALLIANCE’s branch locations, or by contacting the Member Services Department at 800.431.2754. CSR stated that the CD Specials are in the process of being added to the online application. No matter the method of opening, promo code, COOPCD, must be used when applying.

Credit Union Overview

USALLIANCE Financial has an overall health grade of "B+" at, with a Texas Ratio of 8.44% (excellent) based on March 31, 2017 data. In the past year, USALLIANCE increased its total 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 18th 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 Cooperative Rewards CD Specials Compare

When compared to the 194 similar length-of-term CDs tracked by, requiring a similar minimum deposit and available nationally, USALLIANCE Financial’s 24-month Cooperative Rewards CD Special APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
2.02% APY24-Month Cooperative Rewards CD SpecialUSALLIANCE Financial
1.83% APY2-Year CDKS StateBank
1.81% APY24-Months CDFirst Internet Bank

When compared to the 196 CDs tracked by, requiring a similar minimum deposit and available nationally, USALLIANCE Financial’s 36-month Cooperative Rewards CD Special APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
2.28% APY36-Month Cooperative Rewards CD SpecialUSALLIANCE Financial
2.00% APY36-Months CDTIAA Direct
1.98% APY3-Year CDKS StateBank

The above rates are accurate as of 8/10/2017.

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

Related Pages: New York CD rates, Boston CD rates, Hartford CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Anonymous   |     |   Comment #1
These CD's cannot be opened online. I called and transferred funds from my savings account at US Alliance to establish the CD and it took the CSR 20 minutes to open the CD. Too long for a simple task!
???   |     |   Comment #2
Anonymous   |     |   Comment #3
Not sure what you want to demonstrate with this link. It does not take you to the CU site where the special non advertised rate is available. The promotional CD's are not available online and the CSR indicated that they must implement a special rate exception with each opening.
Anonymous   |     |   Comment #4
The rate is what I have been looking for and also the duration but the 360 day early withdrawal penalty is too stiff for me. Will continue to see what comes along in the next few weeks.
Jon   |     |   Comment #5
You want this credit union to give you a high rate, at least a high rate compared to the others but then you also want them to give you an easy way out of the CD. Say you have a CD paying 4% and the rates drop to where 2% is now being offered, would you be okay with the credit union or bank closing your CD early and paying you a small amount to do it or would you rather have a larger amount to close it or would you just rather stick to the term?
Nothing   |     |   Comment #6
If the CU wants have a call, then that is their flip side to offering a low EWP...but most CUs don't think like that and are missing a big promotion/marking edge.
alan1   |     |   Comment #8
USAlliance CDs are callable products. From the Truth-in-Savings Disclosure and Membership Agreement:
"If the Credit Union calls or redeems your account early, we will provide 60 days written notice. 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."
p. 6 of PDF, p. 4 of brochure
Ken Tumin
Ken Tumin   |     |   Comment #10
Thanks alan1 for the reminder about this callable issue. I updated the blog post with a section on this issue.
Jon   |     |   Comment #11
In over 30 years that I have been buying CDs I have never had a bank or credit union close one on me, if you are worried about that happening I wouldn't buy it.
alan1   |     |   Comment #13
Jon: That's great -- you seem to be an astute investor. Just out of curiosity: How many callable CDs have you purchased over the last 30-plus years? And what percentage of those purchases were followed by a significant decrease in interest rates? Thanks.
wow   |     |   Comment #14
I have had a cu call my cd about 20 years ago. My rate was 6% and rates fell, so they called all the 6% cds. My cd had ~2 years left before they called it.
wow   |     |   Comment #15
I might add that this California cu went out of business ~1 year later.
Att   |     |   Comment #17
Just like some bonds. I had some high rate muni bonds called that were paying 5%. When you buy the bond you are advised of the when the bond can be called. Some older bonds would pay 1$ over par for each 100$ of the called bonds. I have one muni bond paying 5.75% that is callable 2019. I know that bond will be called
Nothing   |     |   Comment #16
360 day EWP as compared to the CU having 60 day call thanks for the unequal treatment
wow   |     |   Comment #7
also a $35 wire out fee and a wire security procedure that takes a week the first time that you wire. You must get their form notarized at your local bank and then mail it in and then wait for them to send you a security email and then call in for an interrogation. Then you must fax them the actual wire request form with the specific instructions, including telling them WHAT you are going to use the funds for!
Sylvia   |     |   Comment #19
wow, there's a fee for incoming wires as well, albeit slightly less at $10. To extract funds at maturity, I had them transferred to share savings, then initiated ACH pull from outside. Much easier (and cheaper - free) than the wire process you described.
alan1   |     |   Comment #9
The USAlliance "MyLife Savings" account has an APY of 3.05% on the first $500. I don't think it's worth joining the credit union to get this account; but if you're a member, might as well take advantage of it.
bkkkk2   |     |   Comment #18
The special IRA (2.28% APY/3yr) is also available for IRAs...........but they charge $3.00 / month maintenance fee! That just about eliminates the 0.28% bump their CD advertises, over other institutions like Everbank who is offering 2.0% @ 3yr.
Bozo   |     |   Comment #20
Wow, a maintenance fee for, maintaining nothing? I'll pass. I was tempted by the after-tax CD, but this outfit seems full of gimmicks.
Black List
Black List   |     |   Comment #23
USAlliance is on my blacklist for all of these "gimmicks".
I'm actually starting to keep a little text file of the banks and credit unions that I want to avoid.
Though, I've got to admit, the CU's are becoming a huge PITA.
I just had one deposit and IRA transfer into my base savings account.
Luckily, I caught it before the end of the day before any interest was posted.
If THAT had happened, I'd have a lot of explaining to do with the IRS.
Another CU coded an IRA transfer as a rollover (despite the fact that the paperwork clearly indicated otherwise).
They were able to fix that error on their back-end system that sends out the annual IRA forms to the IRS.
However, for some reason they couldn't fix it in the online system that the customer uses via the web.
Every time I review my account, seeing that glaring error makes me wish I'd never opened an account with them.
I had them send me a screen print from the back-end system that shows it's coded correctly (just in case).
And finally, yet another credit union balled-up my original application and didn't make my wife a joint account holder.
I didn't find this out until I opened a money market account with them and told them to duplicate the ownership.
Then, they told me that my wife wasn't on any of my accounts with them!
When I pointed-out that joint ownership was clearly on the original application, they said. "Gee, that's weird."
Turns-out, their "Security Department" didn't like the quality of my wife's driver's license.
I call BS on that one because I sent them both of our driver's licenses in the same PDF file.
So, did they admit their mistake and fix the accounts?
No, the "Security Department" said that it was too long since I opened the account to put her on it now.
Hows that for customer service?
In order to get my wife on the accounts I had to submit one a change in ownership forms.
Plus, her photo ID. Again.
Plus, remove the security freeze. Again.
The whole credit check thing is bull anyway.
I pointed-out to them that I've had other places open accounts just by using Check Systems.
That gives them enough information to match-up with the photo ID and meet the "Patriot Act" requirements.
All of these financial institutions are just doing credit checks to see what other garbage they can peddle to you.
Needless to say, I'm losing interest in these clowns.
I never had these kind of problems with banks.
But then, banks interest rates are pathetic.
Bogie   |     |   Comment #25
That's really a negative experience, Black List. I think I would have bailed from that CU long ago.

"Luckily, I caught it before the end of the day before any interest was posted.
If THAT had happened, I'd have a lot of explaining to do with the IRS."

Lucky for you is right. The IRS is no fun deal with either. Even when they have the facts right in front of them. A couple of decades ago the IRS informed me that we had not paid our Federal Income Tax for the year three years back and we owed them the amount that was due plus a huge penalty+interest. We knew we had sent them a check for that year and after two months of battling back and forth, the IRS found our original check filed with our tax return somewhere in THEIR system. Case closed. A couple of weeks later we received a letter from the IRS asking if they could be of any further assistance to us. Like we were the ones at fault?
Bozo   |     |   Comment #26
Bogie, re comment #25, our un-funny story with the FTB and IRS happened a couple of years ago when my wife was the target of identity theft. Some thief filed a false return. Luckily, the thief did not receive the bogus refund. It was sent to our PO Box. Then began the countless rounds of calls to the IRS (and FTB) fraud divisions. We return the check. The FTB receives the check. Then the FTB can't find the check. Then, they claim they found it, but still claim we cashed it. We get an IRS 1099 - G that we owe taxes on the refund we returned. It was a nightmare.
Anonymous   |     |   Comment #21
USAlliance is probably aware of many old CD's maturing this month. I have 2 CD's that mature 8/28/17. These CD's had a better rate, 2.+%, so I will go ahead & roll them over to this new 12-month 2%. As good as many other establishments.
alan1   |     |   Comment #22
What "new 12-month 2%" CD are you referring to? I haven't come across anything close to that. It sounds like an excellent deal. Thank you.
Anonymous   |     |   Comment #24
No, it should have been 24-month 2.02%. It was to good to be true!
Att   |     |   Comment #27
We had a credit freeze. The credit union wanted us to drive to a branch 25 miles and a bridge toll so we could show them our passports which would be the only acceptable identification. Passed on them.
USALLIANCE Financial Adds 36-Month High Yield CD (2.20% APY)
UPDATE 6/1/17: In a Live Chat today, CSR stated the 36-month High Yield CD Special is no longer available.
UPDATE 4/27/17: Following a Live Chat this morning, I have included what USALLIANCE states is the correct information on the 36-Month High Yield CD Special.

Deal Summary: 36-month High Yield CD Special, 2.20% APY, new money, $500 minimum deposit, no stated balance cap.

Availability: Easy membership requirement.

4/27/2017 Live Chat Highlights

    Live Chat: All our CDs are available as retirement CDs. Even CD...

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USALLIANCE Financial's MyChoice CD Option Adds 0.25%

UPDATE4/26/17: MyChoice CD Option has been reduced to 0.25%.

Availability: Easy membership requirement.

Yesterday, DA reader and contributor, ChasR, forwarded an email from USALLIANCE Financial (USALLIANCE) announcing that the Golden Anniversary 9-month CD (1.55% APY) was being re-opened. On its face, it appears to be a good deal, but the fine print chips away at its competitiveness.

  • The 1.55% APY only applies to the first $15k of the deposit.
  • Requires a new MyLife Checking account with Direct Deposit ($500 minimum), or
  • Requires a new USALLIANCE Financial credit card, with at least...
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USALLIANCE Financial Continues To Offer Top Rate 15-Month CD
Availability: Easy membership

In yesterday’s CD Rates Summary, I noted that USALLIANCE Financial (USALLIANCE) was still offering its 15-month Fixed Certificate Special (1.51% APY), which offers the best rate for CDs with terms around 18 months.

A long-time DA reader contacted me to say he couldn’t find the 15-month Fixed Certificate Special listed in USALLIANCE’s Rate table. After a little investigation, I discovered that USALLIANCE is no longer posting a link to its Certificate Specials on its Home Page, but has moved the link to its Savings Rates page, located...

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USALLIANCE Financial Adds 5-Month CD Special - New Members

UPDATE 1/28/2016: No longer available

UPDATE 12/10/2015: Maximum deposit is now $25K.

Availability: Easy membership

First, the good news: USALLIANCE Financial (USALLIANCE) has just added a new 5-month Fixed CD Special (3.05% APY).

Now, the caveats: the 5-month Fixed CD Special is only available to new members and must be opened using USALLIANCE’s mobile app (Smartphone or tablet) OR the mobile website.


  • Minimum deposit is $500.
  • Maximum deposit is $10K $25K.
  • eStatements are required.
  • Only available to new USALLIANCE members.
  • Only one 5-month Fixed CD Special per Social Security number.

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USALLIANCE Financial Revives 25-Month CD Special

UPDATE 10/2/2015: 13-month CD Special is no longer listed on USALLIANCE Financial's website.

UPDATE 9/27/2015: 25-month CD Special is no longer listed on USALLIANCE Financial's website.

Availability: Easy membership

USAlliance Federal Credit Union is now USALLIANCE Financial.

According to the Credit Union, the new name is a rebrand to "help drive home all that we have to offer to potential members."

In addition to the new name, USALLIANCE Financial (USALLIANCE) has brought back its perennial favorite, the 25-month CD Special (2.28% APY). DA readers may recall that this 25-month CD Special appears, disappears,...

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