-
Financial Rates:
4.0
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Customer Service:
5.0
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Website Experience:
4.5
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Bank Fees:
5.0
Pros:
- No monthly maintenance fees
- ATM fee reimbursement
- Low opening required amounts
- Variety of personal deposit accounts
Cons:
- Must qualify to become a member
- No business accounts offered
- To earn interest requires qualifications
- Jumbo CD rates similar to regular CDs
What You Need to Know
Accounts offered through Alliant do not have monthly maintenance fees. The only fee is if you receive paper statements. To keep the account open requires a $5 balance. To earn interest does require $100 in all the savings accounts.
Alliant participates with over 80,000 ATMs free of charge. If you withdraw money from an ATM not in their network, Alliant will reimburse those fees. They reimburse up to $20 per month in ATM fees. Deposits, withdrawals, transfers, and checking account balances qualify for a rebate. The high rate checking, and teen checking account qualify for ATM reimbursement.
The amounts required to open Alliant accounts is low. The savings accounts require $5 to open. The checking accounts do not list a set amount to open. All the regular CD terms require $1,000 to open. Alliant does offer jumbo CDs, but they require $25,000 to open.
Alliant offers a good variety of personal accounts. They offer a free, high-rate, and teen checking account. They offer two savings accounts and a savings account for kids. Personal credit cards, lending options, and insurance options are also available.
To open Alliant accounts, you must become a member of their credit union. You must meet qualifications to become a member. Those requirements include working with specific companies or be related to someone who is a member of Alliant. If you do not meet those requirements, you may be able to qualify through Support Foster Care to Success. Find out if you are eligible on the Alliant website.
Alliant does not offer specific business accounts. Only personal deposit accounts are available. Those accounts include savings accounts, checking accounts, and CDs. Personal credit cards, lending options, and insurance are also offered.
The interest rates on Alliant accounts are not tiered. To earn the most competitive interest rate, you must meet specific qualifications. Those include receiving eStatements and having at least one monthly electronic deposit. Direct deposits help you qualify.
The Alliant jumbo CDs interest rates are only slightly higher than the regular CD rates. The jumbo CDs require $25,000 to open, but do not offer much higher rates than the regular CD rates. The regular CDs require $1,000 to open. Alliant offers six regular and six jumbo CDs.
Cool Things
The Money Mentor Blog
On this blog, Alliant offers financial tips and advice. Some of the topics included in this blog are real estate apps or the best car for your money. Other topics include the fastest growing careers and how to avoid phishing email scams.
History
Alliant started in 1935, by a group of United Airline Employees. By the end of their first business year, they had 146 members with over $5,000 in assets. Through the years they have added products and services for their members.
Today, Alliant has around $10 billion in assets. It is the largest credit union in the state of Illinois and one of the largest in the United States. They currently have over 390,000 members across the nation.
Awards and Recognition
- Best Credit Unions 2018 by NerdWallet
- Best Checking Accounts 2018 by NerdWallet
- Best Credit Union of 2017 by Bankrate
- Best Banks 2017-2018 by Money
Giving Back
Alliant helps promote financial education to military veterans. More than 3,600 military personnel have received help with savings plans and debt reduction. These veterans have reduced their debt by 12 percent with the help of Alliant. They also support military foundations. Those include Wounded Warrior Project, USO, and VeteransPlus.
Alliant employees donate to causes around their communities. Those in the Chicago area donated clothes to the Spring Fling Clothing Drive. They helped raise money for the American Heart Association Go Red for Women campaign. Alliant also donated almost $8,000 to the Bears Cares charity. This charity helps disadvantaged children and families.
Frequently Asked Questions
Yes. Alliant is a credit union, so the NCUA backs it. The National Credit Union Association is an agency of the United States government. It protects funds deposited in credit unions, up to $250,000 per customer, per credit union. The money deposited in NCUA insured credit unions means money is backed by the full faith and credit of the United States government.
ATM or debit cards, checks, electronic transfers, or bill pay.
Yes. With Alliant mobile banking you can view your balance. You can transfer money between Alliant accounts or external accounts. You can deposit checks and pay bills. You can also budget your money with the budgeting tool on the Alliant app.
Yes. The only fee is if you choose to receive paper statements. There are no monthly maintenance fees.
The interest rates are competitive with other online accounts. They offer a good variety of personal deposit accounts. They do not offer business accounts. To open an account, you must become a member. There are set qualifications you must meet to become a member of the credit union.
Alliant provides security measures that comply with federal laws. Their computers have safeguards in place. Their buildings and files are secure.
Yes. The interest rates for Alliant accounts are competitive. They are higher than typical brick and mortar rates. Alliant rates are competitive with online account interest rates.
No. Only personal deposit accounts are available. Those accounts include checking and savings accounts, and CDs. They offer a variety of personal lending options, credit cards, and insurance.
Account interest rates are more competitive. You can open the accounts online, once you qualify as a member. Those qualifications are listed on the website.
Yes. The Alliant High-Rate Checking and the Teen Checking account both earn interest. The Alliant Free Checking account does not earn interest. Both accounts that earn interest earn a competitive rate.
By phone, email, or mail. You can follow Alliant through Facebook, Instagram, Twitter, LinkedIn, YouTube, Pinterest, and Glassdoor.
Yes. Bill pay is free with Alliant checking accounts. You can pay bills through Alliant online banking or the Alliant mobile app.
Some ATMs may accept cash. Make deposits through direct deposit, mailing in a check, or electronic transfers.
Deposits made within regular business hours typically fund the same business day. Deposits made after hours or on holidays fund the next business day.
Yes. Direct deposit helps you qualify to earn the most competitive interest rate.
Bank Contact Information
Alliant Credit UnionP.O. Box 2387
Des Plaines, IL, 60017-2387
800-328-1935
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| Savings (Rate as of 4/19/2024) | |
| APY | 4.30% |
|---|---|
| Rate | 4.21% |
| For APY | $1 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 4/19/2024) | |
| APY | 5.00% |
|---|---|
| Rate | 5.00% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC Plus, no monthly fees and unlimited free external transfers | |
| Savings (Rate as of 4/19/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.