-
Financial Rates:
4.0
-
Customer Service:
5.0
-
Website Experience:
4.5
-
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
-
Financial Rates:
3.0
-
Customer Service:
2.5
-
Website Experience:
2.0
-
Bank Fees:
5.0
Pros:
- Can open all accounts online
- No monthly fees or required balances
- Competitive interest rates
- Savings has a low opening amount
Cons:
- Limited accounts offered
- Must link external bank account
- Premier account requires large amount
- CDs require a large opening deposit
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.
Colorado Federal Savings Bank is an online bank. Opening an account is completed online. You do not have to mail information in or wait for the bank to send you information. All the information you need to open an account is on their website.
Colorado Federal Savings Bank accounts do not have monthly maintenance fees. The accounts are completely free. There are no fees to transfer money into the account with electronic transfers.
The interest rates for CFSB are competitive. Their rates are much higher than your typical brick-and-mortar rates. They are competitive with other online-only accounts. CFSB rates are not tiered. Any amount over the required opening deposit earns the competitive rates offered.
The high yield savings account only requires $1.00 to open the account and keep in the account. The interest rates are competitive. The only fee is if you withdraw more than six times each billing cycle.
CFSB offers limited accounts. Only an online savings account and CDs are available. No checking or money market account is available. There are no business accounts available. Only those few personal deposit accounts are available through CFSB.
To fund your CFSB accounts, you must link an external bank account. Once you link the accounts, you can make transfers between the two accounts. Electronic transfers between linked accounts are how you access your CFSB money.
CFSB has a Premier Savings account offering competitive interest rates. The minimum account balance is $50,000. To open the Premier Savings account, you must be a new customer. This means you have not maintained a CD or savings account with CFSB in the previous 60 days.
To open a CD through CFSB requires $5,000. There are six CD terms. They range from six-months to five-year terms. The only fee is if you withdraw your money before it reaches the maturity date. The interest rates for each of the terms are competitive.
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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.