Let K/F and K/L be two cyclic Galois field extensions and D = (K/F, σ, c) a cyclic algebra. Given an invertible element d ∈ D, we present three families of unital nonassociative algebras over L ∩ F defined on the direct sum of n copies of D. Two of these families appear either explicitly or implicitly in the designs of fast-decodable space-time block codes in papers by Srinath, Rajan, Markin, Oggier, and the authors.We present conditions for the algebras to be division and propose a construction for fully diverse fast decodable space-time block codes of rate-m for nm transmit and m receive antennas. We present a DMT-optimal rate-3 code for 6 transmit and 3 receive antennas which is fast-decodable, with ML-decoding complexity at most O(M 15 ).1991 Mathematics Subject Classification. Primary: 17A35, 94B05.