US Alliance

[sto0pyd]

They recently updated their online and mobile interface with a major makeover, and it looks pretty slick now. In the past, both channels were extremely dreadful to use and seemed to have been from the late 90's when online banking was first introduced. I first learned about them through this forum when they were offering a Visa Card that earned 3% on everything in 2022. At that time, it became my primary card; nowadays, I only use it for groceries to earn 6% cashback. I just noticed that they've significantly increased the rates on their CD and Savings Account. Their CD is now offering 5.4% APY for 12 months, and the completely liquid savings account at 4.4% APY. I'm seriously considering switching my banking to them.

Has anyone used this bank as their PFI (Primary Financial Institution)? I'm currently using SoFi for my banking needs in California, and I don't really have a need for a physical branch. How has your experience been with this bank?

Additionally, my credit card has a $25,000 limit. Does anyone know if they offer higher credit limits? It's still pretty decent since all other purchases outside of groceries earn 2%.

[longtimelurker]

The major problem with their standard CDs is the early withdrawal penalty.   Early withdrawal from an 18 month certificate costs 360 days of interest, well above most competitors.  And it is 180 days for terms less than 18 months which is also very high for say a 12 month certificate!    That said, they now have no penalty CDs which might be better (at the cost of a lower rate of course).

I have had CDs and have savings and credit card with them. I don't know about checking.   I have had some issues where a CD disappeared from my account and it took several calls to get them to admit their mistake which wasn't great, but I suspect similar stories can be found about most institutions.

We also don't know about the future of the credit card.   Now it is officially a 1% cashback card with a promotional rate till Dec 31 2023 that adds 1% on all puchases + the great supermarket +5%     I doubt if it will become a plain 1% card next year but it could!

[narcan04]

The high yield savings rates are pretty competitive. Loan application and service via the app, even on the old janky app, is pretty good and rates there were likewise competitive with the best I'd been offered elsewhere.

I have a Classic Visa with them which got one auto CLI after about a year. It has since stagnated for the past 8yr+

When I asked (and I called back and spoke with three different agents over two days) about a CLI, I was told they will not do CLI's and the only way to see a higher limit is to apply for a new card and hope for a higher SL.

Defintely don't go for their credit card services. 

[coldfusion]

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@narcan04 wrote:

The high yield savings rates are pretty competitive. Loan application and service via the app, even on the old janky app, is pretty good and rates there were likewise competitive with the best I'd been offered elsewhere.

I have a Classic Visa with them which got one auto CLI after about a year. It has since stagnated for the past 8yr+

When I asked (and I called back and spoke with three different agents over two days) about a CLI, I was told they will not do CLI's and the only way to see a higher limit is to apply for a new card and hope for a higher SL.

Defintely don't go for their credit card services. 

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You can't PC between their cards either.

I wasn't exactly thrilled with the "so what" attitude their Customer Support exuded a few years ago (some of you may remember my running commentary over a couple of month span in Garden Club when it happened) when a branch employee mistakenly hard pulled my Experian report when a different member applied for credit in-branch.  To their credit though after I filed a NCUA complaint,  which drove visibility of their mistake and their failure to correct it to executive leadership,  I did get a personal note from their BoD chair that this would be fixed (and it was) and the VP they assigned to investigate and track their remediation was terrific.