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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.

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?

Personal banking

  • Convenience Checking account. A basic account with no monthly fees when you set up recurring direct deposits.
  • Relationship Checking account. Members ages 16 to 25 can open up this account for free. Otherwise, there’s a waivable monthly fee.
  • Investor Checking account. Earn 0.05% APY and pay no monthly fee with a $1,000 daily balance.
  • Share Savings account. Earns 0.10% APY with a minimum $50 balance or $5 balance if you’re younger than 26.
  • Premium Savings account. Requires a $10,000 minimum balance to earn 0.20% APY.
  • Money Market account. You must keep a $2,500 minimum balance to earn interest, but the rate is low at 0.15%.
  • Super Money Market account. Has a $10,000 minimum balance and 0.20% APY, but it increases to 0.25% with a balance over $25,000.
  • Jumbo Money Market account. You’ll need to maintain a $50,000 daily balance to earn 0.30% APY.
  • Alaska USA CD. APYs range from 0.30% to 2.65% depending on term length and minimum account balance.
  • Alaska USA IRAs. Offers Traditional, Roth and SEP IRAs with a $50 minimum opening deposit.
  • Alaska USA HSAs. Members with a high deductible health plan can save for medical expenses with this tax-advantaged account.

Business banking

  • Business Checking account. Comes with 100 free monthly transactions and a Business Visa Check Card for each signer on the account.
  • Share Savings account. Earns 0.10% APY and has a minimum $50 balance.
  • Premium Savings account. You must keep a $10,000 minimum balance to earn 0.20% APY.
  • Money Market account. Requires a $2,500 opening deposit but earns a low 0.15% APY.
  • Super Money Market account. Accounts with a minimum $10,000 account balance earn 0.20% APY, while accounts with at least $25,000 earn 0.25% APY.
  • Jumbo Money Market account. Requires a $50,000 minimum balance to earn 0.30% APY and a $100,000 balance to earn 0.35%.
  • Alaska USA CD. Requires a $500 minimum balance, but APYs range from 0.20% to 2.15% depending on the balance and term length.

Other products

  • Loans. Take advantage of lines of credit and business, vehicle and personal loans through Alaska USA.
  • Mortgages. Take out a loan for a new home, investment property or second home.
  • Credit cards. Offers the Alaska USA Visa Credit Card with a fixed 10.5% APR.
  • Insurance. Choose from a suite of insurance including vehicle, home, umbrella, life insurance and more.
  • Investing. Grow your wealth through stocks, bonds and mutual funds.

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 APY Minimum deposit to open ATMs Out-of-network ATM fee
    Aspiration Spend & Save Account
    Finder Rating: 3.8 / 5: ★★★★★
    Aspiration Spend & Save Account
    Up to 1.00%
    $10
    55,000 free in-network ATMs
    $0
    Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
    Citibank® Account Package
    Citibank® Account Package
    0.50%
    $0
    No access to ATMs
    $2.50
    Earn a $300 bonus after opening new eligible checking and savings accounts and completing required activities.
    HSBC Premier Checking
    Finder Rating: 2.7 / 5: ★★★★★
    HSBC Premier Checking
    0.01%
    $1
    Free to use at all ATMs in the US
    $0
    Get a 3% cash bonus in the first six months (up to $600) or $450 welcome bonus when you open your account with qualifying activities. Must open HSBC Premier checking account through offer page by June 30, 2021, 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.
    Chime Spending account
    Finder Rating: 4.7 / 5: ★★★★★
    Chime Spending account
    N/A
    $0
    38,000 fee-free ATMs nationwide
    $2.50
    Get rid of fees with this financial app offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
    Axos Bank Essential Checking
    Finder Rating: 5 / 5: ★★★★★
    Axos Bank Essential Checking
    N/A
    $0
    ATM fees reimbursed at any ATM nationwide
    No fees. Unlimited domestic ATM fee reimbursements.
    OnJuno
    Finder Rating: 4.8 / 5: ★★★★★
    OnJuno
    Up to 2.15%
    $0
    more than 85,000 ATMs nationwide
    $0
    OnJuno embraces an open banking system for everyone, regardless of their age, location, or income.
    BBVA Online Checking
    Finder Rating: 4.2 / 5: ★★★★★
    BBVA Online Checking
    N/A
    $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.
    NorthOne Business Banking
    Finder Rating: 3.7 / 5: ★★★★★
    NorthOne Business Banking
    N/A
    $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.
    N26
    Finder Rating: 4.5 / 5: ★★★★★
    N26
    N/A
    $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.
    BBVA Free Checking
    Finder Rating: 3.3 / 5: ★★★★★
    BBVA Free Checking
    N/A
    $25
    1,000 fee-free ATMs across the country
    $3
    Pay a $0 monthly service charge and get free access to BBVA ATMs.
    Axos Bank Rewards Checking
    Finder Rating: 5 / 5: ★★★★★
    Axos Bank Rewards Checking
    1.25%
    $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.
    SoFi Money
    Finder Rating: 4.6 / 5: ★★★★★
    SoFi Money
    0.25%
    $0
    $0
    SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.
    Nationwide Advantage checking
    Finder Rating: 5 / 5: ★★★★★
    Nationwide Advantage checking
    0.90%
    $50
    Access to over 80,000 ATMs nationwide
    This account offers Nationwide highest interest rate – up to 0.90 APY. Plus, no overdraft or non-sufficient funds fees.
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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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