For those new to online banking: click here to get started.
When you are ready to open an account at First Alliance Credit Union, the first step is to open your Share Savings Account. From there, you're able to access all of our financial products and services, like all of these savings account options. We offer a wide variety of savings accounts to help you meet your unique savings goals and manage your money the way you want. Explore each of our savings accounts below and contact us with any questions.
| Type | APR* | APY** | Balance for APY |
| Main Share Savings | 0.050% | 0.050% | $5.00 |
| Sub-Share Savings | 0.050% | 0.050% | $100.00 |
| WINcentive Savings | 0.050% | 0.050% | $5.00 |
| Holiday/Vacation Club | 0.200% | 0.200% | $1.00 |
| Checking | 0.050% | 0.050% | $1,000.00 |
| Pet Savings | 0.200% | 0.200% | $1.00 |
| Health Savings Account | 0.450% | 0.450% | $1.00 |
| IRA Savings, Roth & Coverdell | 0.200% | 0.200% | $10.00 |
This account is called a Share Savings because the $5.00 you deposit into this savings account is similar to you buying a share of stock in our credit union. That $5.00 deposit makes you a member-owner of the credit union; it is the foundation of your membership with us. Once you're membership is open, this account functions just like a traditional savings account, giving you benefits like:
At First Alliance, we're committed to helping our youngest members build good savings habits! Start your young saver off on the right path when you open a Youth or Teen Account today!
Our Youth Accounts are an excellent way to begin teaching your kids the importance of saving and money management. We have several savings options to choose from below. If you're not sure which account to open for your child, just ask, we are here to help every step of the way!
Youth Share Savings Accounts - this is the basic savings account every youth member will need to get started on their savings journey
Youth Certificate of Deposit - this type of account is a great option for longer term savings goals for your young saver and can help them learn the power of compounding interest
Youth Money Markets - this savings option helps your young saver earn a little more interest, while still being able to access their money if needed
Once your little saver becomes a teenager, it's time to start helping them manage their money in new ways, which is why our Teen Accounts include the youth savings account options from above, plus access to:
WINcentive® Savings accounts offer the thrill of winning cash prizes with no risk of losing savings. With real rewards, rules, suspense and possibility, even if you don’t win a drawing, you still win by having more money than you started with!
WINcentive® Savings from Minnesota Credit Union Network on Vimeo.
|
Prize Drawings |
Number of State Wide Winners |
Prize Amounts* |
Drawing Dates |
|
Monthly |
50 |
$100 |
10th of each month |
|
Quarterly |
5 |
$1,000 |
10th of April, July, October, & January |
|
Quarterly |
1 per credit union |
$100 |
10th of April, July, October, & January |
|
Special Holiday |
2 |
$1,000 |
10th of December 2021 |
|
Annual |
2 |
$5,000 |
January 10, 2022 |
|
Total in 2020 |
716** |
$100,000 |
|
*Winning one prize category (monthly, quarterly, or annual) does not disqualify a participant from winning a different prize category within the same year. Drawings will occur on or about the 10th of each month, or the next business day, for the previous month and/or quarter end. Prize Amounts are estimates and subject to change. Prize amounts and numbers of winners are subject to change.
Your pets are an important part of your family. Make sure you’re planning ahead for all of the expenses that come with taking care of them with a Pet Savings Account. Most people use the Pet Savings Account to save and plan for their pet’s health care costs, but you can save money for any expense related to keeping your pet happy and healthy!
A First Alliance Pet Savings Account offers you several benefits:
Ready to open this account? Call us at 507-288-0330 or email us at hello@firstalliancecu.com today.
Depositing regularly into a Holiday, Vacation or Back to School Club Account helps you save money and plan ahead throughout the year. Each of our Club Accounts has a specific date when your account balance and dividends are transferred to your checking or savings account just in time to help cover your common expenses.
Club Accounts have a higher interest rate than standard savings accounts. Early withdrawal penalties may apply.
Contact us to open your club account today!
Health Savings Accounts (HSA's) are a type of savings account that allows you to save your money on a pre-tax* basis to help you pay for qualified medical expenses, such as:
HSA's are not "use it or lose it" type accounts, so your HSA balance rolls over from year to year. When you open your HSA account will receive a special debit card to easily access and track your HSA funds.
Contact us today to open your HSA.
*Consult your tax professional for details.
Saving for retirement or college expenses can seem impossible. At First Alliance, we try to make it easier for you to reach your financial goals. That’s why we offer a variety of Individual Retirement Account (IRA) options:
Opening an IRA savings account at First Alliance requires a minimum initial deposit of just $10.00. Dividends are compounded monthly and we don't charge annual maintenance or service fees. IRA Certificates of Deposit also available! Explore your options here.
*Consult a qualified tax professional
© 2021 First Alliance Credit Union | PO Box 8070 Rochester MN 55903 | (507) 288-0330 | hello@firstalliancecu.com
Privacy Policy | Routing Number: 291975481
Affiliate Site Disclaimer: By accessing the noted link you will be leaving our website and entering an affiliate site which is hosted by another party. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of our website. We encourage you to read and evaluate the privacy and security policies of the site which you are entering, which may be different than those of ours.
