First Alliance Credit Union offers a wide array of Savings & Investment
products to meet our members financial needs, including:
- Share Savings Accounts- A First Alliance Savings Account is a perfect way to save for those expected-or-unexpected short term money needs. Your Savings Account earns dividends from the day of deposit.
- Club Accounts-Depositing once or depositing regularly to a Holiday Vacation or Back to School Club Account at First Alliance helps you save money during the year for Christmas gift giving, a winter vacation or back to school supplies for children return to school in the fall, or maybe even something special for yourself. A Holiday, Vacation, or Back to School Club Account earns a slightly higher rate that a Savings Account, and the balnce and dividends are transferred to your checking account at the same time every year. Ask a Member Service Representative for details.
- IRA Savings Accounts-For an initial deposit of just $10.00, you can invest in an IRA Savings Account. Dividends are compounded monthly and you don't pay an annual maintenance fee or service charge. There are no penalties for early withdrawal but the Internal Revenue Service imposes penalties for withdrawal prior to age 59.
- Money Market Accounts- A money market account is a great way to earn a higher interest rate on your investments while maintaining instant accessibility. For a minimum deposit of $2,000, you can open a money market account and begin earning dividends on the entire balance at a higher rate than a typical savings account. The money market account is a tiered rate account, thus, higher investments earn a higher yield:
Balance |
APR |
APY |
| $2,000-$9,999 |
1.000% |
1.00% |
| $10,000-$24,999 |
1.240% |
1.25% |
| $25,000-$49,999 |
2.130% |
2.15% |
| $50,000-$999,999 |
2.325% |
2.35% |
- Alliance Advantage Money Market- We are pleased to introduce the Alliance Advantage Money Market Account. The Alliance Advantage is a variable-rate, high yield, federally insured savings account. Alliance Advantage lets you earn the returns of a mutual fund without the risk. The Dividend Rate and Annual Percentage Rate Change weekly. You can make unlimited deposits to an Alliance Advantage Money Market and debit cards or checks are available upon request. The minimum balance for an Alliance Advantage Money Market is $100,000. Call (507) 288-0330 for details.
- Certificates of Deposit- Certificates of Deposit are a great way to invest your earnings at a fixed interest rate. Your money is deposited for a sepcific amount of time, and in return the Credit Union offers you a dividend rate that is usually higher than a regular savings Account. First Alliance offers terms from 6 to 60 months. The minimum deposit is $500.00. You can open a certificate of deposit on-line with CU Connect.
- IRA Certificates of Deposit- We offer a variety of IRA Solutions: Traditional, Roth, SEP and Coverdell Education Accounts. IRA Certificates have terms from 12-60 months.
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