Alliant Credit Union Review 2022
Alliant Credit Union Review :
- Checking: 5/5
- Savings: 5/5
- CD rates: 5/5
- Banking experience: 4.5/5
- Overdraft fees: 4.5/5
The bottom line: Many credit unions have lower interest rates than banks, although they may have stricter membership requirements and less complex technology. On the other hand, Alliant Credit Union offers the best of both worlds with broad membership standards and competitive pricing, as well as a positive tech experience.
Best for: Customers looking for high-yield checking and savings accounts, as well as a huge network of ATMs.
Pros :
- There are about 80,000 free ATMs.
- Interest rates on checking and savings accounts are much higher than the national average.
- There are no overdraft costs.
Cons :
- There are no branches.
Full Review :
If you choose e-statements, Alliant's High-Rate Savings account pays an above-average rate and doesn't charge a monthly fee. Alliant also offers unique savings account for parents who want to teach their children about money management. Members can open up to 19 supplemental accounts, each with their own pseudonym.
The Ultimate Opportunity Savings Account from Alliant is similar to High-Rate Savings Account. It offers a good rate and is free if you opt into estatements (otherwise, paper statements will make you pay $1 each ). Customers can create up to 19 supplemental accounts for specific goals.
New clients who open an Ultimate Opportunity Savings account will get a $100 bonus if they make 12 consecutive monthly deposits of at least $100 each.
There are no monthly fees for Alliant teen checking and high-rate checking accounts. Register for free e-statements and make at least one e-deposit each month to qualify for the APY offered by High-Rate Checking. Out-of-network ATM fees can be paid up to $20 per month with this account.
Alliant stock certificates yield above-average interest rates, but you'll need some cash to open one: a $1,000 minimum initial deposit is required. Longer terms and larger balances provide higher returns, with APYs ranging from 1.50 percent to 2.80 percent. With our CD comparison tool, you can compare Alliant stock testimonials with those of other financial institutions.
Banking Experience :
Alliant's rates are good, but their inclusion is really cool. Other credit unions only allow people who work for certain companies or live in certain regions to join them. After giving a one-time $5 gift to a group that supports foster children, you can apply for membership with Alliant and Alliant will cover the cost of the donation.
Alliant, like any other product, has drawbacks. It is totally online and does not participate in shared branching. However, it has a great online banking platform and a well-rated mobile app, and customer service is available through Twitter and by phone 24 hours a day, seven days a week.
Members can pay their bills online and check their credit ratings for free.
Overdraft Fees :
In August 2021, Alliant announced that the company would no longer charge an overdraft fee. Overdraft and insufficient cash costs are now refunded by the credit union, but these fees will soon be eliminated. Banks and other credit unions have an overdraft fee of $35, which can be charged multiple times each day.
FAQ
Can anyone open an Alliant checking account?
Alliant doesn't need an initial deposit because it wants anybody to be able to open a High-Rate Checking Account. In addition to the amount of money that can be used to open the account.
There is no minimum balance requirement once the account is opened, and there are no monthly fees to pay.
Is Alliant insured by the FDIC?
Your funds are guaranteed up to $250,000 by the federal government.
Since 1935, Alliant has been financially stable. You can rest when you know that your funds are insured by the National Credit Union Administration (NCUA). And know that no single penny of protected savings has been lost by a member of a federally insured credit union.
Does Alliant use Zelle?
Alliant Credit Union does not participate in Zelle. If you are an Alliant Credit Union member, you can still use Zelle to send money to others.
who can open an Alliant account?
Registration Terms for Alliant :
- Are you a current or former employee of one of Alliant's many U.S.-based businesses and organizations?
- Are you a current Alliant member's domestic partner or direct family member?
- You can live or work in one of the communities surrounding our Chicago headquarters. To determine if you qualify, go to our website's list of qualified communities.
- You can join Foster Care to Success (FC2S) and become eligible for Alliant membership if you are not eligible through another route. Thousands of foster youths are served by FC2S around the United States, with a concentration on those who are aging out of the system. FC2S supports higher education grants and scholarships, as well as care packages, mentorship, and internships. (Alliant will pay the $5 membership fee to FC2S on behalf of the member.