Alliant Credit Union Review 2024

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At a glance

Best credit union

4.6

Rating: 4.6 stars out of 5

Bankrate Score

CDs

Rating: 4.7 stars out of 5

Checking

Rating: 4.8 stars out of 5

Savings

Rating: 4.4 stars out of 5

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

About Bankrate Score

Overview

Alliant Credit Union is ideal for eligible customers who want a range of high-yielding product options and to minimize fees. Alliant makes it easy to become a member, providing several methods of eligibility.

Highlights

High APY
24/7 Customer Service
ATM Fee Refunds

Overall

Alliant Credit Union offers deposit accounts with competitive APYs and minimal fees. This Chicago-based credit union is insured by the National Credit Union Administration (NCUA) and offers a highly rated mobile app as well as access to a wide network of surcharge-free ATMs.

Pros

The savings accounts, checking accounts and CDs offer robust yields.
Alliant offers surcharge-free access to over 80,000 ATMs.
The credit union has manageable membership requirements.

Cons

The credit union doesn’t offer any specialty CDs such as no-penalty CDs.
Higher yielding savings accounts are available elsewhere.

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Alliant Credit Union banking products

4.4

Rating: 4.4 stars out of 5

See methodologyCompare savings rates

SCORE BREAKDOWN

APY offering:

3.10%

Rating: 4 stars out of 5

4/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Minimum balance for APY:

$100.00

Rating: 4 stars out of 5

4/5

The lowest deposit amount an account must have before it can earn interest.

Monthly service fee:

$0.00

Rating: 5 stars out of 5

5/5

A monthly charge a financial institution deducts from an account if certain requirements are not met.

Minimum balance to avoid fee:

$0.00

Rating: 5 stars out of 5

5/5

The lowest balance an account must maintain in order to avoid a fee.

Access to funds:

Great

Rating: 5 stars out of 5

5/5

A procedure that allows an individual or organization to access and manage the funds of another account holder.

FEATURES

3.10% APY

APY last updated between 9/8 and 9/14.

$100 minimum balance for APY

$5 minimum deposit to open

Alliant Credit Union savings overview

Alliant Credit Union’s high-yield savings account pays a robust APY. Account holders must maintain an average monthly balance of at least $100 to earn interest. A minimum balance of $5 is required to keep the account open.

The high-yield savings account doesn’t charge a monthly fee to members who sign up for e-statements. Otherwise, a $1 monthly fee is charged for paper statements.

Alliant also lets members open up to 19 savings accounts (called supplemental savings accounts) to save for specific goals. Members can name each account based on their goals, allowing them to track progress easily.

Pros

The high-yield savings account pays a competitive APY.
There’s no monthly fee for members enrolled in e-statements.
Members can open multiple accounts to track specific savings goals.

Cons

There are higher savings APYs available at certain online banks.
You need to have at least $100 to earn interest with the credit union’s High-Rate Savings account.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Alliant Credit Union

APY

APY last updated between 9/8 and 9/14.

APY

APY last updated between 9/8 and 9/14.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Alliant Credit Union APY APY last updated between 9/8 and 9/14. APY APY last updated between 9/8 and 9/14	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/29/2024	3.10%	0.59%
12/08/2023	3.10%	0.57%

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Alliant Credit Union CD overview

Alliant offers a range of CD term lengths, and all of them carry high APYs. Customers can choose from CD terms ranging from three months to five years. The range of term lengths provide customers the ability to build a CD ladder. All CDs are insured by the NCUA and require $1,000 to open (or $75,000 for a jumbo CD, which pays a slightly higher APY). The credit union also doesn’t have a maximum amount that you can put in a CD.

The credit union doesn’t offer any specialty CDs such as no-penalty CDs or bump-up CDs.

Pros

CD yields are competitive.
The credit union offers term lengths ranging from three months to five years.

Cons

Alliant doesn’t offer any specialty CDs such as no-penalty CDs.
Some banks have lower minimum opening deposit requirements for CDs.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Alliant Credit Union

APY

APY last updated between 9/8 and 9/14.

APY

APY last updated between 9/8 and 9/14.

National average APY

Term length

How do we get this data?

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Alliant Credit Union checking overview

Alliant’s High-Rate Checking account pays a decent yield for a checking account, requires no minimum balance and charges no service fees or overdraft fees. Customers who open this account receive a Visa debit card.

The credit union offers access to over 80,000 surcharge-free ATMs and also offers rebates of up to $20 per month for out-of-network ATM use.

Alliant Credit Union members can enroll in Courtesy Pay, a service that might pay overdrafts not covered under traditional overdraft services, if a member transfers at least $600 from outside of Alliant into their account each month and has been with the credit union for at least six months.

Pros

There’s no monthly service fee or minimum balance requirement.
Members get access to 80,000 surcharge-free ATMs and $20 in monthly rebates.
Alliant Credit Union offers members a free first box of checks when you open its High-Interest checking account.

Cons

There are some checking accounts that offer a higher yield.
Alliant Credit Union doesn’t have a checking account for business customers.

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Bank fees

Fee	Charged?
Overdraft fee	None
Non-sufficient funds fee	None
Monthly maintenance fee	None
Out-of-network ATM fee	None
Excessive transaction fee	None
Dormant Account (for savings accounts)	$10
Inactivity (for savings accounts)	$10

Find out:Tips to avoid common bank fees

About Alliant Credit Union

Alliant Credit Union is an NCUA-insured credit union based in Chicago. It's ideal for eligible customers who want a range of high-yield deposit products with minimal fees. Alliant makes it easy to become a member, providing several ways to become a member, including proximity to the credit union’s headquarters, employment and familial status, or by donating to a cause it supports.

Bank experience

Membership. Alliant is easy to join despite its status as a credit union. If you don’t meet specific criteria listed on its website, you can become a member of Foster Care to Success (FC2S) to become eligible for Alliant membership. Alliant will pay a $5 membership fee to FC2S on your behalf.

Digital experience. Alliant offered highly rated mobile apps for Android and iOS devices. The app allows customers to deposit checks, transfer money between accounts, pay monthly bills and track expenses with a personal financial management tool.

Customer support. The credit union provides a toll-free 24/7 phone number for issues that need immediate attention. It also offers an online contact form for other account and service questions.

Bankrate staff insights

“I chose Alliant because the APY was higher than with other financial institutions,” said a Bankrate staff member with an Alliant account. “I have only had my account open for two months and have seen noticeable returns. Transferring funds into my Alliant high-yield savings account was incredibly easy — all I had to do was link the account I was transferring from and make the transfer.”

Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.

Digital experience

Features

Screen view

DesktopMobile

The above images were last updated on August 8, 2024.

How Alliant Credit Union compares to other banks

Compare different account types offered by Alliant Credit Union. Annual percentage yields (APYs) shown were updated between Sept. 8, 2024 and Sept. 14, 2024.

Selected bank Alliant Credit Union savings account NCUA Insured Bankrate score Rating: 4.4 stars out of 5 4.4 Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score.	Most comparable Ally Bank savings account Member FDIC Bankrate score Rating: 4.9 stars out of 5 4.9 Bankrate Savings rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Sept. 8, 2024 and Sept. 14, 2024.
3.10%	4.20%
Minimum balance for APY
$100.00	$0.00
Estimated earnings Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
$1,550	$2,100

Alliant Credit Union has three savings accounts: a High-Rate Savings account, a Supplemental Savings account and a Kids Savings account.	Ally Bank consistently offers a competitive yield on its Online Savings Account. The online bank doesn’t have the absolute highest yield, but it offers a competitive one and doesn’t have a minimum balance requirement or a monthly service fee. The bank offers mobile deposit, but you’ll need to transfer money to the Ally checking account or money market account if you want to access money in your savings from an ATM.

You can earn a competitive APY with the High-Rate Savings account. You can set as many as 19 different savings goals through additional savings accounts.	Ally Bank offers a competitive yield on its Online Savings Account. Ally Bank has savings tools, such as Surprise Savings where Ally Bank looks at your linked checking account for savings opportunities.	N/A
You need to keep at least a daily average of $100 in the High-Rate Savings account to earn interest. There’s a $1 charge for paper statements. You need to keep at least $5 in the High-Rate Savings account to keep the account open.	Ally Bank doesn’t offer ATM access directly from its savings account. Some other online banks offer a higher yield than Ally Bank.	N/A

Selected bank Alliant Credit Union CD NCUA Insured Bankrate score Rating: 4.7 stars out of 5 4.7 Bankrate CD rating = 4.7/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score.	Most comparable Quorum Federal Credit Union CD NCUA Insured Bankrate score Rating: 4.5 stars out of 5 4.5 Bankrate CD rating = 4.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate CD rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Sept. 8, 2024 and Sept. 14, 2024.
4.75%	2.60%
Minimum deposit
$1,000.00	$1,000.00
Term
1 yr	1 yr

Alliant Credit Union is an online credit union offering a wide array of CD terms. It also offers jumbo CDs, which generally earn a little more interest than regular CDs. The regular CDs require a $1,000 minimum deposit, and you’ll need at least $75,000 for a jumbo CD.	Members have access to term savings accounts (another name for certificates of deposit). The bank offers term lengths ranging from three months to five years. No specialty term savings accounts are offered, such as a no-penalty account.All of the CD terms pay annual percentage yields (APYs) that are above the national average, and a handful of the terms offer some of the highest APYs on the market today. Larger deposits are rewarded with a higher yield, as deposits of $100,000 or more earn an additional 0.1 percent APY, according to the bank’s website.Quorum’s CDs all require a manageable $1,000 minimum deposit to open. The accounts are insured by the National Credit Union Association's Share Insurance Fund.Quorum also offers IRA CDs with terms ranging from three months to five years.

Many terms of CDs are available. Jumbo CDs earn a little more interest. Alliant offers IRA CDs.	The accounts require a manageable minimum deposit to open Big savers are rewarded for deposits above $100,000 A handful of terms offer highly competitive yields	N/A
You’ll need at least $1,000 to open a CD at Alliant Credit Union. Alliant doesn’t offer CDs with a term longer than five years.	The credit union doesn’t offer any specialty term savings accounts Early withdrawal penalties are on the steep side	N/A

APY offering: 4.75% - 1 yr 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. Minimum deposit: $1,000.00 4/5 The minimum deposit amount a financial institution requires in order to open a CD. Range of term lengths: 3 mos - 5 yrs 5/5 A designated amount of time that funds must be held within a CD. Early withdrawal penalty: Good 4/5 A penalty incurred when funds have been withdrawn from a CD before its maturity date. Offer no-penalty or bump-up CDs: No 0/5 A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. Offer IRA CDs: Yes 5/5 An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.	Bankrate does not currently track additional product details for this bank.	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. The minimum deposit amount a financial institution requires in order to open a CD. A designated amount of time that funds must be held within a CD. A penalty incurred when funds have been withdrawn from a CD before its maturity date. A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. An IRA account which consists of CDs that typically earns fixed interest over a specified period of time. Bankrate does not currently track additional product details for this bank.

Alliant Credit Union vs. Chase

Alliant Credit Union generally offers higher yields on its deposit products when compared to Chase, including its CDs and savings accounts. Moreover, as a credit union, Alliant is a non-profit organization, whereas Chase is a traditional bank. As such, Alliant has done a lot to benefit its customers, including eliminating overdraft and non-sufficient funds fees. In contrast, Chase still charges a hefty fee for both.

All that noted, Alliant doesn’t have physical branches, and so it isn’t a good option for those not comfortable banking solely online. In contrast, Chase has more branches than any other bank in the U.S., making it a better choice for those who prioritize physical presence.

Learn more:The best credit unions of 2024

Alliant Credit Union FAQs

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Alliant Credit Union Review 2024 | Bankrate (2024)

FAQs

What is the best bank to use in 2024? ›

Summary of Best Banks 2024

Company	Forbes Advisor Rating	Fees
Discover® Bank	4.6	No monthly, overdraft or ATM
Quontic Bank	4.4	No monthly, overdraft or ATM
Axos Bank	4.3	No monthly, overdraft or ATM
Capital One 360	4.3	No monthly or ATM, $35 overdraft

1 more row

Aug 30, 2024

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Is joining Alliant Credit Union worth it? ›

If you qualify for membership, Alliant Credit Union can be a worthwhile choice for someone looking to take advantage of low fees and competitive rates. As a digital financial institution, there are no branch locations, so this credit union isn't suitable for someone looking for in-person banking access.

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Is my money safe with Alliant Credit Union? ›

You are insured up to $250,000 in combined balances for savings, checking and certificates, per Social Security Number, per membership. Joint-owner Alliant accounts. If in addition to your individual account, you are a joint owner on an account, each joint owner may be insured up to an additional $250,000.

What are the top 3 credit unions in the US? ›

Largest Credit Unions in the U.S.

Rank by Asset Size	Credit Union Name	Customer Count
1.	Navy Federal Credit Union	13.2 million
2.	State Employees' Credit Union	2.8 million
3.	Pentagon Federal Credit Union	2.9 million
4.	Boeing Employees' Credit Union	1.4 million

6 more rows

Aug 27, 2024

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What are the top 5 safest banks? ›

Summary: Safest Banks In The U.S. Of September 2024

Bank	Forbes Advisor Rating	ATM Network
Chase Bank	5.0	15,000+ Chase ATMs
Bank of America	4.2	15,000+ ATMs in the U.S.
Wells Fargo Bank	4.0	11,000
Citi®	4.0	65,000

1 more row

Aug 30, 2024

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What is the best credit union to belong to? ›

Compare the Best Credit Unions

Financial Institution	Why We Picked It
Blue Federal Credit Union	Best Overall
Liberty Federal Credit Union	Best for Checking
Alliant Credit Union	Best for a Savings Account
Service Credit Union	Best for Military Individuals & Families

1 more row

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Is Alliant better than Ally? ›

Ally has a good checking account, but Alliant's is even stronger. Alliant lets you deposit cash at any ATM in its free network, while there's no way to deposit cash with Ally. Alliant also refunds up to $20 per month in out-of-network ATM fees, while Ally refunds up to $10 monthly.

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Why choose Alliant bank? ›

Alliant Credit Union boasts an excellent customer support program for its many members, and it's easy to join. It offers good accounts overall, but you can find higher rates on deposits and lower rates on loans from other financial institutions.

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Who is Alliant Credit Union owned by? ›

Alliant is better than a bank. We are a credit union that's owned by our members.

Is Alliant good for CD? ›

Alliant Credit Union's CDs can be a great option for savers looking to earn higher interest rates on their deposits. With high APYs across a variety of term lengths, Alliant caters to both short-term and long-term financial goals.

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Can you withdraw money from Alliant Credit Union? ›

Through Alliant's ATM network, you can easily make deposits (not available at all ATMs), withdraw funds, and check account balances.

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Is Alliant a good savings account? ›

Alliant Credit Union's high-yield savings account pays a robust APY. Account holders must maintain an average monthly balance of at least $100 to earn interest. A minimum balance of $5 is required to keep the account open.

See Details ›

What is the richest credit union? ›

The Bankrate promise

Rank	Credit Union Name	Total Assets
1	Navy Federal	$178 billion
2	State Employees'	$55.9 billion
3	Pentagon Federal	$34.4 billion
4	SchoolsFirst	$30.6 billion

6 more rows

Jul 3, 2024

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Is Alliant a real bank? ›

Alliant Credit Union is an online credit union offering checking accounts, savings accounts, CDs (share certificates) and personal loans, among other financial products. Compared to traditional banks, Alliant Credit Union offers lower fees and higher APYs on its savings accounts.

Are credit unions safer than big banks? ›

One question that often arises is, "Are Credit Unions Safer than Banks?" If you're looking for a short answer, you'll be happy to know that we're not making you read the whole post: Credit Unions and banks are roughly identical in safety because deposits at both are insured by the Federal government to $250,000.

What is the world's strongest banking brand 2024? ›

🇮🇩 BCA has become the strongest banks in the world,2024! According to the latest report from Brand Finance top 500 banking brands. With a Brand Strength Index score of 93.8/100 and an elite AAA+ rating, BCA in Indonesia ranks highest. Meanwhile, Vietcombank ranks 8th globally with an index score of 89.1.

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Which bank is the most financially stable? ›

Below, review the safest banks in the U.S. Compare and explore the security features they employ to keep your money safe.

JPMORGAN CHASE. Member FDIC.
U.S. BANK. ...
PNC BANK. ...
CITIBANK. ...
WELLS FARGO. ...
CAPITAL ONE. ...
M&T BANK CORPORATION. ...
AGRIBANK.

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Aug 19, 2024

Who is the best bank to go with? ›

Best-of 2024 Banking Winners:

Alliant Credit Union: Best credit union.
Ally Bank: Best bank; best CDs.
Charles Schwab Bank: Best for ATM access.
Chase: Best for sign-up bonuses; best for branch access.
Discover® Bank: Best online banking experience.

More items...

May 10, 2024

Learn More ›

What is the #1 bank in America? ›

1. JPMorgan Chase – $3.5 trillion. Columbus, Ohio-based JPMorgan Chase is the largest US bank with total assets of $3.503 trillion. Some $2.684 trillion are domestic assets, accounting for 77% of its total assets.

Discover More Details ›

Alliant Credit Union Review 2024 | Bankrate (2024)

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We want to know what you think about Alliant Credit Union

Alliant Credit Union banking products

Alliant Credit Union savings overview

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Alliant Credit Union savings rates

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Alliant Credit Union CD overview

Pros

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Alliant Credit Union CD rates

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Alliant Credit Union checking overview

Pros

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Advertiser Disclosure

How We Make Money

SoFi

Bank fees

About Alliant Credit Union

Bank experience

Bankrate staff insights

Digital experience

How Alliant Credit Union compares to other banks

Alliant Credit Union vs. Chase

Alliant Credit Union FAQs

Review methodology

FAQs

What is the best bank to use in 2024? ›

Can you withdraw money from Alliant Credit Union? ›