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Alaska USA Federal Credit Union: Savings, Checking, and CDs

Features 24/7 customer support and over 55,000 free ATMs nationwide — but APYs are low.

Updated

Alaska USA Federal Credit Union
Alaska USA Federal Credit Union is part of the CO-OP Shared Branch and Allpoint ATM networks which offer more than 5,000 branch locations and 55,000 ATMs nationwide. It has 24/7 phone and email support, but it has a small service area and low APYs.

Am I eligible?

You’re eligible for an Alaska USA membership if you live in:

  • Alaska
  • Washington
  • San Bernardino County, California
  • Maricopa County, Arizona

What banking products does Alaska USA offer?

How does Alaska USA Federal Credit Union compare to other banks and services?

Alaska USA was founded in 1948 and manages more than $8.39 billion in assets. It has branches spread throughout Alaska, Arizona, California and Washington — most of which are open seven days a week. In addition to banking products, it also offers consumer and commercial loan services, including mortgages, real estate loans, insurance, investments and more.

Checking accounts

Pros

  • Allpoint ATM Network. Use your debit card to make free withdrawals at over 55,000 Allpoint ATMs nationwide.
  • Earns interest. The Investor Checking account earns 0.05% APY when you keep at least $1,000 in the account.
  • Bill Pay. Members can set up automatic online bill pay for up to 15 bills a month for free.

Cons

  • Monthly fees. All checking accounts have a $5 monthly fee. But Alaska USA waives them when you meet certain direct deposit or minimum balance requirements.
  • Low ATM withdrawal limits. You can’t withdraw more than $505 daily with your ATM card.
  • One business account. Alaska USA’s business checking account only comes with 100 free monthly transactions, so it’s not ideal for businesses with large cash flow.

Savings accounts

Pros

  • Low opening deposit. You only need $5 to open an Alaska USA Share Savings account and $50 to earn interest.
  • Several account options. Alaska USA offers five personal and five business savings accounts, including money market options.
  • ATM access. Each account comes with a free ATM card that gives you free access to over 55,000 Allpoint ATM nationwide.

Cons

  • Low APYs. You’ll earn anywhere from 0.10% to 0.35% APY depending on your account balance. Although these rates are higher than the national average, they’re much lower than the competition.
  • Interest paid quarterly. Although interest accrues daily, it doesn’t post to your account until the end of the quarter.
  • $5 quarterly fee. For all its savings accounts, you’ll pay a $5 quarterly fee if your daily account balance dips below $50.

CDs

Pros

  • Wide term ranges. Lock your money away for as short as one month or as long as five years with Alaska USA.
  • Competitive APYs. While its APYs for checking and savings accounts are lackluster, you can earn up to 2.4% when you stash your money in a CD.
  • Automatic renewals. After your grace period ends, your CD will automatically renew for another term so you can keep growing your savings.

Cons

  • Various minimum deposits. Depending on which interest rate you want to earn, you’ll need to set aside anywhere from $500 to $250,000 to open an Alaska USA CD.
  • Early withdrawal fees. Alaska USA charges a penalty fee if you need to access your money before maturity.
  • No partial withdrawals. If you need to access your money early, you’ll have to withdraw the full balance and close out your account.

Overall banking

Pros

  • 24/7 customer support. Representatives are always available to chat with you through phone and email.
  • CO-OP Shared Branch Network. Bank in person at more than 5,000 shared branches nationwide.
  • Discounts for teens and young adults. Those younger than 26 can open a free Relationship Checking and Share Savings account with a $5 minimum balance.

Cons

  • In-person applications. You’ll have to visit a branch location if you’re opening up a business or first-time account.
  • Small service area. Alaska USA is only open to those who live or work in Alaska, Arizona, California and Washington.
  • Expensive international wire transfers. Expect to pay $50 if you need to send an international wire transfer. Although domestic wire transfers are $20 — a bit cheaper.

    Compare Alaska USA Federal Credit Union to the competition

    Name Product Minimum deposit to open ATMs Out-of-network ATM fee
    BBVA Online Checking
    $25
    No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
    $3
    A full-service account with convenient, surcharge-free access to two massive ATM networks, plus a $200 signup bonus when you meet deposit requirements
    Citibank® Account Package
    Citibank® Account Package
    $0
    No access to ATMs
    $2.50
    Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
    NorthOne Business Banking
    $50
    More than 300,000 ATMs across America.

    $0
    A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
    BBVA Free Checking
    $25
    1,000 fee-free ATMs across the country
    $3
    Pay a $0 monthly service charge and get free access to BBVA ATMs.
    Chase Total Checking
    $0
    Access to 16,000 ATMs and nearly 4,900 branches nationwide
    $2.50
    Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 4,900 branches. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
    Chime Spending account
    $0
    38,000 fee-free ATMs nationwide
    $2.50
    Get rid of fees with this mobile-first bank offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
    Chase Premier Plus Checking
    $0
    Access to 16,000 ATMs and nearly 4,900 branches nationwide
    $2.50
    Get a $300 signup bonus as a new Chase checking customer when you open a Chase Premier Plus Checking account and set up direct deposit. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
    HSBC Advance Checking
    $0
    Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York
    Get up to $270 (max. $50 per month) for eligible new customers who open an HSBC Advance checking account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
    TD Beyond Checking
    $0
    1,900 ATMs across the country and Canada
    $0
    A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.
    HSBC Premier Checking
    $1
    Free to use at all ATMs in the US
    $0
    Get a 3% cash bonus, up to $600 (max. $100 per month) during first six months after account opening. Must open HSBC Premier checking account through offer page by September 30, 2020, and set up qualifying direct deposits into the new account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
    TD Convenience Checking℠
    $0
    1,900 ATMs across the country and Canada
    $3
    Offering digital wallet compatibility, free Zelle transfers, TD rate discounts and no fees for students and young adults age 17 to 23. But the $15 monthly maintenance fee could chip at your funds.
    Axos Bank Essential Checking
    $0
    ATM fees reimbursed at any ATM nationwide
    No fees. Unlimited domestic ATM fee reimbursements.
    Axos Bank Rewards Checking
    $50
    ATM fees reimbursed at any ATM nationwide
    $0
    Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
    N26
    N26
    $0
    Fee-free ATM withdrawals at Allpoint ATMs
    $0
    A digital bank account with no hidden fees, no minimum account balance and no maintenance charges.
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    Compare up to 4 providers

    Alaska USA customer service

    There are several ways to get in touch with Alaska USA’s customer service:

    • Call 907-563-4567 or 800-525-9094 at any time
    • Email memberservice@alaskausa.org
    • Visit a branch location
    • Mail questions to:
      PO Box 196613
      Anchorage, AK 99519-6613

    Bottom line

    Alaska USA offers a comprehensive suite of consumer and business banking products and extensive customer support. But you must live in one of four states to open an account and it’s not clear how much you’ll pay in monthly fees if you don’t meet certain requirements.

    As always, compare accounts with other financial institutions until you find one that fits your needs.

    Frequently asked questions

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