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Last Updated: 04/18/2025

USAlliance Financial MyLife Savings for Kids

from USAlliance Federal Credit Union

Last Updated: 04/18/2025

Rating not yet determined2 total votes

2 users don't recommend

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Highlights

APY (Annual Percentage Yield)

0.02% - 2.00%(Verified 06/21/2024)

Disclaimer popup with additional information

Minimum Opening Deposit

Up to $500

Minimum Balance to Earn APY

N/A

USAlliance Financial MyLife Savings for Kids Review

USAlliance Financial MyLife Savings for Kids is offered by USAlliance Federal Credit Union, a credit union founded in 1966 and based in Rye, NY. USAlliance Financial Savings for Kids are available in 50 states and Washington, DC.

Key Takeaways

High yield savings. This account offers an annual percentage yield of up to 2.00%*, which is much higher than the average interest rate for a savings account.

USAlliance Financial Savings for Kids Pros & Cons

Pros

Cons

Available in 50 states and Washington, DC.
High yield APY (see terms and conditions for details).

Does not offer mobile check deposits.
Does not provide access to a nationwide ATM network.
Does not come with a debit card
Not FDIC-insured.
No signup bonus.

USAlliance Financial Savings for Kids FAQ

Are savings accounts from USAlliance Federal Credit Union federally insured?

No, your USAlliance Federal Credit Union savings accounts are not insured by a federal insurance agency. This means that if USAlliance Federal Credit Union were to fall into financial difficulties, your deposits are not covered by a government-backed insurance fund like the FDIC or NCUSIF.

Does USAlliance Federal Credit Union offer a signup bonus?

USAlliance Financial Savings for Kids doesn't offer a signup bonus.

What is the minimum initial deposit for USAlliance Financial Savings for Kids?

USAlliance Financial MyLife Savings for Kids Minimums

Description

Minimum Opening Deposit

Up to $500

What APY* does USAlliance Financial MyLife Savings for Kids offer?

USAlliance Financial Savings for Kids offers a variable APY* starting at 0.02% and ranging up to 2.00% (APY stands for annual percentage yield, rates may change).

2.00% on the first $500.

What fees does USAlliance Financial Savings for Kids charge?

USAlliance Financial Savings for Kids does not charge a monthly service fee. See the fee breakdown section below to view all fees.

Can you set up a direct deposit to USAlliance Financial Savings for Kids?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for USAlliance Financial Savings for Kids?

The customer support email for USAlliance Financial Savings for Kids is memberservices@usalliance.org.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

411 Theodore Fremd Ave

Suite 350

Rye, NY 10580

(800) 431-2754

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

8:45AM - 4:30PM

Tuesday

8:45AM - 4:30PM

Wednesday

8:45AM - 4:30PM

Thursday

8:45AM - 4:30PM

Friday

8:45AM - 4:30PM

Saturday

9:00AM - 2:00PM

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Other Savings Accounts from USAlliance Federal Credit Union

USAlliance Financial MyLife Savings Account

Rating not yet determined

1 review

APY (Annual Percentage Yield)

0.02% - 2.00%

Disclaimer popup with additional information

Minimum Opening Deposit

$500

Minimum Balance to Earn APY

N/A

Visit Site

USAlliance Financial High Dividend Savings Account

Rating not yet determined

Be the first to rate

APY (Annual Percentage Yield)

4.65%

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Minimum Opening Deposit

Starting at $0

Minimum Balance to Earn APY

$500

Visit Site

SuperMoney Net Recommendation Score

Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.

-100

-1000+100

No one recommends

Everyone recommends

The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

USAlliance Financial MyLife Savings for Kids Community Reviews

Would you recommend USAlliance Financial MyLife Savings for Kids to your friends?

Savannah S.

Jan 24, 2023

May or may not recommend

I had a savings account with USALLIANCE for my oldest son, this was years ago, so things may have changed since. However, I felt as though there wasn't much benefit nor financial security with the money being saved. Yields are fairly low and wish they had more financial protection like with (PNC's).

Doutch K.

Nov 11, 2022

May or may not recommend

I have been looking this option for a while to start saving money for my Kids, but I can't trust any Financial institution that doesn't have the FDIC or NCUSIF specially for my kids.

Showing 2 of 2 reviews