USAlliance Federal Credit Union has some interesting ways for its more than 50,000 members to boost CD rates this month.
First off, Fridays during January are “CD bonus days,” with CDs opened with a minimum deposit of $500 in new money on any Friday, yielding a:
- 0.50% APY bonus on 12-month CDs.
- 0.35% APY bonus on 24-month CDs.
- 0.25% APY bonus on 36-month CDs.
That brings the rates for those terms above or at least in line with the top nationally available CD rates on our CD Rates Leaderboard.
But, you can earn an extra 0.13% for bringing a new member to the credit union. And that’s not difficult, because just about anyone can join one way or another.
To give you a clear picture of what exactly USAlliance Federal Credit Union is offering through this special:
- 0.70% APY for 12-month CDs, which boosts to 1.20% APY on Fridays and 1.38% APY with a new member.
- 0.95% APY for 24-month CDs, which boosts to 1.30% APY on Fridays and 1.43% APY with a new member.
- 1.26% APY for 36-month CDs, which boosts to 1.51% APY on Fridays and 1.64% APY with a new member.
The credit union also has a 15-month CD special in January.
It pays 1.30% APY with a $500 minimum deposit, which increases to 1.43% APY with that new member add-on.
These specials require electronic statements and new money not already on deposit at the credit union, and have a maximum deposit of $50,000.
And you have to be a member of USAlliance Federal Credit Union to buy these certificates of deposit.
Originally a credit union for IBM employees, now savers anywhere can join by first becoming a supporter of WARC, a community outreach program for children with developmental disabilities and their families. USAlliance Federal Credit Union will even make that $15 donation for you.
You can also make a donation to the Westchester, N.Y.-based Rye Arts Center.
You don’t have to take those steps if you live, work or worship in the Massachusetts counties of Barnstable, Essex, Middlesex, Norfolk, Plymouth, Suffolk and Worcester; are a relative of a current member; or are an employee or a retiree of one of the New York or Massachusetts companies, or of state or local governments in the New York areas listed on the website.
(You can only access those lists if you begin the online account opening process and click “I’m new.”)
Membership requires a $5 deposit in a savings account.
Members can buy CDs online, over the phone or in person.
USAlliance Federal Credit Union has 16 branches in Cambridge, Danvers, Malden and Medford, Mass.; in Hartsdale, New York City, Rye, Tarrytown and Wallkill, N.Y.; and in Jersey City, N.J. (Two branches — the one in Jersey City and one of the three in New York City — have restricted access.)
Learn more about USAlliance Federal Credit Union at www.usalliance.org or call 800-431-2754.
See how these returns compare with the best CD rates from scores of banks in our extensive database.