A multiple speed transmission having an input and output includes a first and second planetary gearsets, each gearset including a sun gear, a ring gear surrounding the sun gear, a set of planet pinions meshing with the sun gear and the ring gear, and a carrier on which the planet pinions are rotatably supported, the carrier of the first gearset being driveably connected to the ring gear of the second gearset. A third gearset, driveably connected to the carrier of the second gearset and the ring gear of the first gearset, alternately drives the output at a predetermined lower speed relative to a speed of the carrier of the second gearset, and driving the output at substantially the speed of the ring gear of the first gearset. A first clutch connects and disconnects the input and the sun gear of the first gearset. A second clutch connects and disconnects the input and the sun gear of the second gearset. A third clutch alternately connects and disconnects the input and the carrier of the first gearset. An overrunning brake holds the carrier of the first gearset against rotation on the transmission housing and releases the carrier of the first gearset. A first brake holds the sun gear of the first gearset against rotation on the transmission housing and releases the sun gear of the first gearset. A second brake holds the carrier of the first gearset against rotation on the housing and releases the carrier of the first gearset.