Today, we’ll be taking a look at a CD with an overall APY of 0.70%, one of the highest rates available for a traditional IRA CD. This is a CD that features a 2.05% APY with a minimum deposit of $5,000 and a maximum deposit of $2,500,000. It also has a 12-month term and a minimum opening balance of $500.
This blog post is the ultimate guide to all things financial, including updated rates, features and benefits for your Alaska USA Federal Credit Union CD Rates. If you are looking for a credit union CD that offers reasonable rates, and you are living in Alaska, this is the place for you.
Alaska USA Federal Credit Union (USACU) is a very well known credit union headquartered in Anchorage, Alaska. USACU is a member-owned financial cooperative, founded in 1920. Today, it serves more than 75,000 members and is the largest credit union in Alaska. USACU CD Rates The 3-year CD rate is 0.70% APY with an APY of 1.05% on the 6-month CD. The rate is 0.85% APY for the 12-month CD. The rates are 0.75% APY for the 18-month CD, and 1.05% APY for the 24-month CD.
[Update August 2021: So far in 2021, Alaska Federal Credit Union has neither increased or reduced the rates on any of its CDs. However, they have reduced the returns on all of their variable rate savings and money market accounts by 0.05 percent APY. [For current rates, see the table below.]
If you’re searching for a federally insured credit union to establish a certificate of deposit with, Alaska USA Federal Credit Union’s CDs are a good option. They provide above-average returns across the board and have a reasonable $500 minimum initial deposit requirement.
Alaska USA Federal Credit Union, if you haven’t heard of them, is the 19th biggest credit union in the US and the largest credit union in Alaska. This member-owned charity, which has been headquartered in Alaska since 1948, serves over 674,000 members throughout the nation via branch locations in four states—Alaska, Arizona, California, and Washington—as well as over 55,000 ATMs globally.
The Alaska Air Depot, an Air Force station, created this financial services cooperative to better fulfill the requirements of federal civil service personnel transplants. Anyone who lives, works, or attends school in Alaska, Washington, or the California or Arizona counties of San Bernardino or Maricopa may join now.
This article will teach you how to:
The National Credit Union Share Insurance Fund (NCUSIF) of the National Credit Union Administration (NCUA) insures Alaska USA Federal Credit Union deposit account money up to $250,000. For credit unions, the NCUA is the FDIC’s counterpart.
CD Rates at Alaska USA Federal Credit Union:
|a month or two||0.15%|
|Three to five months||0.15%|
|Approximately 6–8 months||0.25%|
|9–11 months of age||0.25%|
|12 to 17 months of age||0.40%|
|ages 18 to 23 months||0.40%|
|Between 24 and 35 months||0.40%|
|36–47 months of age||0.50%|
|Between the ages of 48 and 59 months||0.60%|
As you can see, Alaska USA Federal Credit Union arranges their deposit terms and durations differently than other banks and credit unions. Instead of a particular number, they utilize a range of months. Aside from this one-of-a-kind variation, their CDs come with pretty standard terms and conditions.
Any Alaska USA CD term requires a $500 minimum deposit. For periods of one year or more, interest is compounded and paid monthly; for terms of one year or less, interest is paid in full at maturity. Your account will not generate interest if your balance falls below the $500 minimum.
You should keep in mind that you have a 10-day grace period after renewing your certificate to withdraw money without paying penalties. If you withdraw your deposit within six days of its issue, you will be charged interest for seven days (in accordance with federal regulations). The remainder of the early withdrawal penalties are shown below, organized by period.
Early Withdrawal Penalties at Alaska USA Federal Credit Union:
|Maturity of the CD||Fee|
|< 90 days||interest for 30 days|
|91 days to 365 days||90-day interest rate|
|366–729 days is a range of days between 366 and 729 days.||Interest is charged every 180 days.|
|730 days and counting||365-day interest rate|
If the total interest received on your withdrawal since issue is less than the fees mentioned above, Alaska USA will deduct the difference (if the day’s interest fee is lower, you’ll pay it). As a result, the sooner you withdraw after establishing an account, the less remorse you’ll have (though early withdrawals should, of course, always be avoided if possible).
If your balance falls below the account minimum, partial withdrawals are not allowed. For additional information, see Alaska USA’s share account disclosure statement. Users of Alaska USA Federal Credit Union may ladder several certificates and borrow money against a CD.
Although Alaska USA CD account rates are competitive, their money market account rates are mediocre at best. Their highest-earning money market rates, as you can see, are just around the national average.
Alaska USA provides personal and corporate money market accounts in three sizes: regular, super, and jumbo. The greater your APY, the more money you put into an account. The following are the account rates:
Money Market Rates in Alaska, United States of America:
|$2,500 – $9,999.99 (Standard)||0.05%|
|From $10,000 to $49,999.99 (Super)||0.10%|
|$50,000 + (Jumbo)||0.15%|
Despite the fact that the national average for money market rates is now 0.18 percent APY, Alaska USA FCU’s rates are far from appealing. Many other credit unions and internet institutions still offer money market and online savings accounts with APYs of well over 1%.
If you still wish to open an Alaska USA FCU money market account, you’ll need to know the account information shown below.
You won’t get any interest if your account balance is less than $2,500. However, as long as it remains over $50, you won’t be charged the $5 maintenance cost. An Alaska USA money market account allows you to make up to six transactions each month (as stipulated by Federal Reserve Board Regulation D). This does not, however, cover transactions undertaken to repay a debt. Each transaction in excess of the six permitted by federal law is subject to a $25 overdraft fee.
A share savings account and a premium savings account are both available at Alaska USA Federal Credit Union.
Everyone who joins Alaska USA and makes a $5 deposit receives a share savings account. This account offers a pitiful 0.05 percent interest rate and needs a minimum balance of $50 ($5 for those under the age of 26) to avoid the $5 quarterly maintenance charge. This charge is also eliminated if you have another account linked to your savings account, such as a checking account or a loan.
You may upgrade your share savings account to a premium savings account for a considerably higher minimum daily balance of $10,000. You’ll get a 0.15 percent return, but you’ll need to maintain your balance above zero to remain in this bracket. Even a premium savings account, however, does not pay out a very high rate of interest.
You may withdraw money from your savings account at any Alaska branch, ATM, or online banking. A savings account may make up to six transfers each month. Interest is calculated and paid on a quarterly basis.
A health savings account is also available, with rates that aren’t exactly stellar. For this, you’ll need the following brackets:
|From $50 to $999||0.05%|
|From $1,000 to $9,999||0.05%|
|$10,000 – $49,999||0.10%|
To establish a health savings account, you’ll need at least $50. Given the present market, these rates are not as terrible as they might be for an account of this sort, but you could do better elsewhere.
Alaska USA has a market capitalization of $8.39 billion and serves approximately 674,000 members. The credit union processed 387 million transactions and made 101,971 loans worth almost $4 billion in 2018. In the same year, they estimated a return of about $198 per member.
Alaska USA has 74 physical branches in Alaska, California, Arizona, and Washington, as well as 55,000 surcharge-free ATMs worldwide. They offer a Member Service Center that is open 24 hours a day, seven days a week, and a mobile app, as well as co-op shared branching with hundreds of other credit unions. In other words, you’ll never be without assistance or access to your accounts. Visit this page for a list of all branch and shared branch locations. Go here to find an ATM near you.
To be eligible for membership, you must fulfill at least one of the following requirements:
- Any Alaskan who lives there.
- Any inhabitant of the state of Washington.
- Anyone who lives, works, worships, or attends school in San Bernardino County, California.
- Anyone who lives, works, worships, or goes to school in Maricopa County, Arizona.
- A relative who qualifies or someone who is related to someone who qualifies
- Alaska USA is affiliated with a non-profit organization.
Simply by signing up to become a member of Alaska USA Federal Union, you will get a share savings account, which will serve as your credit union share. Membership is open to anybody who is not a resident of Alaska. However, if you live in Alaska and need to go outside of the state, your banking requirements may be met almost anyplace. To apply, contact the Member Service Center at (907) 563-4567 or (800) 525-9094, or go to a branch.
With its CD rates, Alaska USA Federal Credit Union doesn’t exactly blast the competition out of the water, but they aren’t terrible either. Money market and savings account APYs, on the other hand, leave a lot to be desired.
There’s no need to sugarcoat it: due of its stringent, geo-targeted membership criteria, this credit union doesn’t offer the greatest rates and isn’t accessible to the bulk of the people. Many members, on the other hand, are pleased with the customer service they get from this organization and appreciate the low costs.
As the third quarter of 2016 comes to an end, it’s time to look back at the biggest changes in the banking industry. Here’s a look at the latest changes to Alaska USA Federal Credit Union CD Rates , and how they compare to the changes made by the other big banks.. Read more about becu cd rates and let us know what you think.
This article broadly covered the following related topics:
- alaska usa interest rates
- alaska usa savings account number
- navy federal savings bonds
- navy fcu cd rates
- best cd rates washington state