First Alliance Credit Union Debuts the Impact CD

First Alliance Credit Union has re-imagined the traditional certificate of deposit with the launch of its new Impact CD, a high-balance savings vehicle designed for members who want every dollar to write a success story for the community. Instead of resting quietly in an account that compounds in silence, Impact CD funds will be hard at work helping families afford homes and vehicles, expand their businesses, and provide safe and affordable access to financial solutions for individuals with ITINs and those needing a financial fresh start. 

The Impact CD behaves like a conventional, fixed-term certificate—offered in five-, seven-, or ten-year maturities - and comes with some unique features beyond your traditional Certificate of Deposit. Members may add to their principal balance at any time during the term, meaning you can increase your impact without resetting the clock. Each year Impact CD holders will receive our Annual Financial and Community Impact Report that traces their deposit from the moment it reaches our vault to the moment it becomes a family’s front door, startup’s first store front, or the first steps to rebuilding after a financial set-back. Additionally, impact makers who wish to widen their ripple effect can direct the interest they earn to the First Alliance Credit Union Foundation, plus those with exceptionally large balances may opt in for supplemental share-protection that extends deposit insurance beyond the NCUA coverage limits, through a partnership with American Share Insurance.

Watch & Learn How Your Deposit Creates Impact

Brent gives a quick look at how an Impact CD supports homeownership, small businesses, and fresh starts.

President/CEO of First Alliance Credit Union, Brent Rempe calls the new certificate “a way to turn private prosperity into shared possibility.” In the past twelve months alone, deposits at First Alliance fueled credit-building programs for more than 550 people, placed 31 families in safe, affordable homes, delivered nearly $5 Million to 55 entrepreneurs, and unlocked fair financing for 175 immigrant neighbors through ITIN loans—proof that well--aimed capital can change lives.

“Our community has shown us what happens when we listen to its needs,” Rempe says. “This innovative CD invites impact makers to become co-authors of that story to watch their wealth safeguard their own future and someone else’s at the same time.” 

How Deposits Created Impact Last Year

Review our recent impact report here.

4900000

Dollars in funding provided to local small business owners to achieve growth and sustainability.

175

Immigrants accessed safe and affordable financing opportunities through our ITIN lending program.

555

Members rebuilt their financial lives through our No Judgement, Just Guidance loan program.

Impact makers with public or private funds can support our Southeast MN families. To learn more visit us online at FirstAllianceCU.com/impact-deposits or call 507-288-0330. Place your dollars where they grow steady for you and blossom into affordable homes, new jobs, and fresh starts for neighbors who need them most.

 Have questions about Impact CDs? Ask us!