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Alliant Credit Union VS DCU

Which bank is better for you?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
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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: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon
No Rate Information
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Pros:

  • Variety of accounts offered
  • Competitive interest rates for savings
  • Only one DCU account has a fee
  • Low opening required amounts

Cons:

  • Must become a member first
  • Tiered interest rates on MMA
  • High balances to earn interest
  • Only one withdrawal per month for Ltd
Alliant Credit Union Review

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.

Read the full Alliant Credit Union review.

DCU Review

Digital Federal Credit Union offers a wide variety of personal deposit accounts. They offer a savings, money market, and holiday savings accounts. They offer two checking accounts and a variety of CD terms, including jumbo and rate bump CDs. Once you become a member of DCU, you can open any of these accounts online. DCU also offers business accounts.

The primary savings account offers competitive interest rates. For the first $1,000, you earn a very high interest rate. Any amount over $1,000 earns a lower rate. Between the two rates, the account earns competitive interest rates. The primary savings account is the account you must open to become a member of DCU.

Only the DCU Dividend Checking account has a monthly fee. All other accounts do not have a monthly fee. The amount required to keep in the checking account to waive the monthly fee is $2,500. The other DCU accounts do not have a required amount to keep in the account to avoid a fee.

The required amounts to open DCU accounts are low. The highest amount required to open a checking or savings account is $5. To earn interest for some accounts requires a larger balance. However, to open the accounts does not have a high required amount. The CDs require $100 or $500, depending on the CD. The jumbo CDs do require $25,000 to open.

To open an account with DCU, you must become a member of the credit union. To become a member requires opening a Primary Savings Account with at least a $5 balance. Once you open that account and become a member, you can open any other DCU account.

The DCU money market account has tiered interest rates. To earn the most competitive interest rates requires a large balance. The most competitive rate requires a balance of at least $100,000. Lower balances earn interest, just not the most competitive rate.

The Ltd savings account through DCU has a high required balance to earn interest. This account requires a balance of $25,000 to earn any interest. Any balance over $25,000 earns the most competitive rate, but balances below do not earn any interest.

Only one free withdrawal is allowed each month from the Ltd savings account. For every other withdrawal, there is a fee of $25 per withdrawal. To earn interest on this account requires a balance of $25,000. There is no required amount to open the account.

Read the full DCU review.

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