USAlliance Financial Savings And CDs
CD APY
Minimum Deposit
Our Rating
Savings APY
USAlliance Financial High Dividend Savings
The USAlliance Financiall High Dividend Savings account offers a competitive APY of 4.65%, which is among the highest rate available.
The interest is calculated every day, so your money grows faster. You won't have to pay any monthly fees for maintaining the account. The NCUA, a government agency, ensures that your money is protected up to $250,000.
To start earning dividends, you need to keep a minimum balance of $500 in the account.
Savings APY | Minimum Deposit |
|---|---|
4.65% (Compare) | $500 |
You can open an account online on USAlliance Financial website, the process is straightforward and should take 5-10 minutes.
USAlliance CDs: High Rates Only On Specific Terms
USAlliance Financial provides a range of certificate options, but it's important to note that only a few of them offer attractive rates. The most favorable terms available are for 12-month certificates, which have a competitive 5.20% APY.
Additionally, there is an 11-month option known as a no-penalty certificate, which not only offers a high rate but also allows for withdrawals at any time, similar to savings accounts. These two choices stand out as particularly appealing due to their attractive rates, which are among the highest in the market.
Conversely, there are several certificate terms with less competitive rates. For instance, the 3-month CD offers only 0.75% APY, while the 6-month certificate offers 5.75% APY.
These rates are considerably lower compared to what other banks and credit unions offer. Moreover, such rates can be disadvantageous for investors seeking to implement strategies like CD laddering.
The amount of the early withdrawal penalty depends on the original maturity date of your Certificate Account.
- For accounts with an original maturity of less than 18 months, the penalty will be 180 days' worth of dividends on the amount withdrawn.
- For accounts with an original maturity of 18 months or longer, the penalty will be 360 days' worth of dividends on the amount withdrawn.
CD Term | APY |
|---|---|
3 Months | 180 days of dividends |
6 Months | 180 days of dividends |
9 Months | 180 days of dividends |
11 Months – No Penalty | No Penalty |
12 Months | 180 days of dividends |
18 Months | 360 days of dividends |
24 Months | 360 days of dividends |
36 Months | 360 days of dividends |
48 Months | 360 days of dividends |
60 Months | 360 days of dividends |
You will receive a notification 25 days before your Certificate Account matures, using the delivery method you have chosen.
If you don't withdraw the funds upon maturity, the Credit Union may automatically renew the account for the minimum equivalent term at the prevailing rate.
However, you have a grace period of 7 calendar days from the maturity date to withdraw funds without incurring an early withdrawal penalty.
About USAlliance Financial
USAlliance is a not-for-profit financial institution that is fully insured by the NCUA. They provide a comprehensive range of financial services, including checking accounts, savings accounts, credit cards, loans, and online banking options. USAlliance Financial has branches in Connecticut, New York, New Jersey and Massachusetts
With a global membership of over 136,000 individuals, USAlliance offers access to 6,000 branch facilities and 30,000 surcharge-free ATMs nationwide. Additionally, they offer a highly acclaimed mobile banking app.
As a growing cooperative, USAlliance has expanded its presence and now operates as a multi-faceted organization with assets totaling $2 billion, dedicated to serving their extensive membership base.
