A nickel, chromium, iron alloy and method for use in producing weld deposits and weldments formed therefrom. The alloy comprises, in weight percent, about 28.5 to 31.0% chromium; about 0 to 16% iron, preferably 7.0 to 10.5% iron, less than about 1.0% manganese, preferably 0.05 to 0.35% manganese; about 2.1 to 4.0% niobium plus tantalum, preferably 2.1 to 3.5% niobium plus tantalum, and more preferably 2.2 to 2.8% niobium plus tantalum; 0 to 7.0% molybdenum, preferably 1.0 to 6.5%, and more preferably 3.0 to 5.0% molybdenum; less than 0.50% silicon, preferably 0.05 to 0.30% silicon; 0.01 to 0.35% titanium; 0 to 0.25% aluminum; less than 1.0% copper; less than 1.0% tungsten; less than 0.5% cobalt; less than about 0.10% zirconium; less than about 0.01% sulfur; less than 0.01% boron, preferably less than 0.0015% boron, and more preferably less than 0.001% boron; less than 0.03% carbon; less than about 0.02% phosphorous; 0.002 to 0.015% magnesium plus calcium; and balance nickel and incidental impurities. The method includes the steps of forming a welding electrode from the above alloy composition and melting the electrode to form a weld deposit. A preferred weldment made from the alloy and method includes an alloy substrate in the form of a tubesheet of a nuclear reactor.