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ROCHESTER, Minn. - First Alliance Credit Union has re-imagined the traditional certificate of deposit with the launch of its new Impact CD, a high-balance savings tool designed for members who want every dollar to write a success story for the community. Instead of resting quietly in an account that compounds in silence, Impact CD funds will be hard at work helping families afford homes and vehicles, expand their businesses, and provide safe and affordable access to financial solutions for individuals with ITINs or those needing a fresh financial start. The Impact CD behaves like a conventional, fixed-term certificate, offered in five-, seven-, or ten-year maturities - but comes with some unique features beyond your traditional Certificate of Deposit. Members may add to their principal balance at any time during the term, meaning you can increase your impact without resetting the clock. Each year Impact CD holders will receive the credit union’s Annual Financial and Community Impact Report that showcases the impact of their deposit from the moment it reaches our vault to the moment it becomes a family’s front door, startup’s first store front, or the first steps to rebuilding after a financial setback. Additionally, impact makers who wish to widen their ripple effect can direct the interest they earn to the First Alliance Credit Union Foundation. Plus, those with exceptionally large balances may opt-in for supplemental share-protection that extends deposit coverage beyond the $250,000 NCUA limits, through a partnership with American Share Insurance. President/CEO of First Alliance Credit Union, Brent Rempe calls the new certificate “a way to turn private prosperity into shared possibility.” In the past twelve months alone, deposits at First Alliance fueled credit-building programs for more than 550 people, placed 31 families in safe, affordable homes, delivered nearly $5 Million to 55 entrepreneurs, and unlocked fair financing for 175 immigrant neighbors through ITIN loans, proof that well-aimed capital can change lives. “Our community has shown us what happens when we listen to its needs,” Rempe says. “This innovative CD invites impact makers to become co-authors of that story to watch their wealth safeguard their own future and someone else’s at the same time.” Impact makers with public or private funds can support Southeast MN families by visiting FirstAllianceCU.com/impact-deposits or calling 507-288-0330 to get started with an Impact CD. Place your dollars where they grow steady for you and blossom into affordable homes, new jobs, and fresh starts for neighbors who need them most. About First Alliance Credit Union For more than ninety years, First Alliance Credit Union has served 14 counties in Southeast Minnesota, including Blue Earth, Dodge, Fillmore, Freeborn, Goodhue, Le Sueur, Mower, Nicollet, Olmsted, Rice, Steele, Wabasha, Waseca, or Winona counties. As a member-owned, not-for-profit, financial cooperative the credit union reinvests deposits locally to foster financial stability, inclusion, and prosperity throughout Southeast Minnesota. First Alliance is federally insured by the NCUA and is an Equal Opportunity Lender. For more information, visit www.firstalliancecu.com.
ROCHESTER, Minn. - First Alliance Credit Union has re-imagined the traditional certificate of deposit with the launch of its new Impact CD, a high-balance savings tool designed for members who want every dollar to write a success story for the community. Instead of resting quietly in an account that compounds in silence, Impact CD funds will be hard at work helping families afford homes and vehicles, expand their businesses, and provide safe and affordable access to financial solutions for individuals with ITINs or those needing a fresh financial start.
The Impact CD behaves like a conventional, fixed-term certificate, offered in five-, seven-, or ten-year maturities - but comes with some unique features beyond your traditional Certificate of Deposit. Members may add to their principal balance at any time during the term, meaning you can increase your impact without resetting the clock.
Each year Impact CD holders will receive the credit union’s Annual Financial and Community Impact Report that showcases the impact of their deposit from the moment it reaches our vault to the moment it becomes a family’s front door, startup’s first store front, or the first steps to rebuilding after a financial setback.
Additionally, impact makers who wish to widen their ripple effect can direct the interest they earn to the First Alliance Credit Union Foundation. Plus, those with exceptionally large balances may opt-in for supplemental share-protection that extends deposit coverage beyond the $250,000 NCUA limits, through a partnership with American Share Insurance.
President/CEO of First Alliance Credit Union, Brent Rempe calls the new certificate “a way to turn private prosperity into shared possibility.”
In the past twelve months alone, deposits at First Alliance fueled credit-building programs for more than 550 people, placed 31 families in safe, affordable homes, delivered nearly $5 Million to 55 entrepreneurs, and unlocked fair financing for 175 immigrant neighbors through ITIN loans, proof that well-aimed capital can change lives.
“Our community has shown us what happens when we listen to its needs,” Rempe says. “This innovative CD invites impact makers to become co-authors of that story to watch their wealth safeguard their own future and someone else’s at the same time.”
Impact makers with public or private funds can support Southeast MN families by visiting FirstAllianceCU.com/impact-deposits or calling 507-288-0330 to get started with an Impact CD. Place your dollars where they grow steady for you and blossom into affordable homes, new jobs, and fresh starts for neighbors who need them most.
For more than ninety years, First Alliance Credit Union has served 14 counties in Southeast Minnesota, including Blue Earth, Dodge, Fillmore, Freeborn, Goodhue, Le Sueur, Mower, Nicollet, Olmsted, Rice, Steele, Wabasha, Waseca, or Winona counties. As a member-owned, not-for-profit, financial cooperative the credit union reinvests deposits locally to foster financial stability, inclusion, and prosperity throughout Southeast Minnesota. First Alliance is federally insured by the NCUA and is an Equal Opportunity Lender. For more information, visit www.firstalliancecu.com.