Alliant Credit Union Review

Alliant Credit Union is a full-service financial institution that offers a wide range of products and services to its members. Founded in 1935, Alliant has grown to become one of the largest credit unions in the country, with more than $9 billion in assets and over 650,000 members.

Alliant offers its members competitive rates on savings and checking accounts, auto loans, mortgages, and more.

In addition, Alliant provides valuable member benefits such as free online banking and mobile app access.

Whether you’re looking for a new place to do your banking or are simply curious about what Alliant has to offer, read on for our full review of this credit union.

About Alliant Credit Union.

The people behind Alliant Credit Union have a deep commitment to helping their colleagues save money. The credit union was founded in 1935 by educators who wanted the best for other members of this institution, and it’s grown since then with more than 300k+ members across 11 states!

Alliant Credit Union is the perfect place to start building your financial future. Founded in 1920, Alliances’ goal has always been community-based economic growth with low-interest rates and competitively priced loans for members who want more than just a traditional checking account!

With its federal charter granted by NCUA protection ensures that you can bet on fair treatment when it comes time to make large purchases or investments as well as preserve what matters most – our trusted robbed deposits which total 1 billion dollars today

The company has a wide range of account options available to meet the needs and preferences of each individual.

There are several ways to become a member, here a few:

  • One of the several businesses and organizations Alliant collaborates with in the United States.
  • A current Alliant member’s domestic partner or immediate family member
  • Live or work in one of the communities near the Corporate Headquarters in Chicago of Alliant.

Let’s have a look at some of Alliant’s greatest features now that we’ve learned more about the company.

Alliant Savings Accounts

Alliant Savings accounts come in three flavors: high-rate, kids, and supplemental.

Let’s look at each of these accounts in further detail.

(A). Alliant High-Rate Savings account.

The High-Rate Savings account is the perfect place for those who want to save money and still maintain an average daily balance. With no monthly maintenance fees, it’s more competitive than most other banks’ savings rates with its 0.55% APY interest rate!

You also get free online banking (and mobile!) as well as Alliant ATM withdrawals worldwide – so what are you waiting for?

You must have at least $5 to deposit and an average daily balance of $100 to earn dividends to open this account.

(B). The Kids Savings Account from Alliant Credit Union

The Kids Savings Account from Alliant Credit Union is a great way to start teaching kids about money and how they can save for their future. This account offers an interest rate that’s competitive with other accounts, no monthly fees, free online banking capabilities so you’re always in control of what your child has access too!

Alliant will also pay the $5 enrollment deposit for you. Your youngster must be 12 years old or younger and have a parent or guardian who is an Alliant Credit Union member to open this account.

However, in order to receive the same interest rate as the High-Rate Savings account, your child must keep a minimum balance of $100.

(C). the Supplemental Savings.

With the help of this account, you will be able to save for different goals with no monthly fees. You can also create up to 19 sub-accounts that serve as a bucket system from where finances drip into your main account and vice versa!

Plus everything is at competitive rates so there’s really nothing standing between yourself and getting ahead financially!

You’ll need at least $5 to deposit to open this account, but you must maintain a daily average balance of $100 in each sub-account to earn dividends.

The interest rate on this account is 0.55 percent APY, which is greater than the typical savings account rate of 0.04%.

Let’s look at some of the disadvantages associated with choosing an Alliant Credit Union savings account.

Pros & cons of Saving account with Alliant credit union

+Pros

  • Interest rates are higher than the national average
  • No monthly maintenance fees
  • No minimum balance requirement.
  • Free online and mobile banking
  • Can have up to 19 sub-accounts with different names and purposes.

-Cons

  • You must maintain a balance of $100 in each sub-account to earn dividends.
  • Do not offer peer-to-peer payments.

Now that we’ve looked at Alliant’s savings accounts, let’s look at their checking account options.

Checking accounts

Two types of checking accounts are offered by Alliant (A)High-Rate Checking and (B). Teen Checking is the name of Alliant’s two kinds of checking accounts.

(A)High-Rate Checking Account

The Alliant Credit Union is a great place for the bank if you want your finances simple and easy. With the High-Rate Checking Account, people can open an account without having any monthly service fees or minimum balance requirements!

You’ll love this awesome checking account! With no minimum balance requirement, it’s easy to get started. Plus you can earn dividends on your balance by making just one electronic deposit per month- and those are paid out automatically every last day of the previous month too ( Isn’t technology great?).

If a customer doesn’t have enough cash to cover their payment, Alliant’s Courtesy Pay will help them out. There is no cost for each courtesy pay and they must settle the overdraft balance within 30 days or else it becomes an automatic charge on your account!

Teen Checking account

This checking account is great for young members who want to start building their financial history. There’s no monthly fee or minimum balance, so it won’t distract you from watching out how much money comes in each month!

Plus there’s a Visa debit card with limits of $100 daily ATM withdrawals and 300 bucks worth of purchases right off the bat – making sure that even while learning about managing your own finances at age 16-17 years old; still have plenty left over after school for movies, food, clothes, and other fun stuff!

With the Teen Checking Account, you can start earning interest on your balance right away. This is a great way for teens who want to save money in their future and watch it grow over time!

However, there’s one downside: Alliant Credit Union doesn’t offer any peer-to-peer payment services like Zelle (though many other banks do).

Let’s look at the advantages and drawbacks of a checking account now that we’ve covered Alliant’s checking account options.

Pros and Cons of a checking account with Alliant Credit Union

+Pros

  • No monthly service fees or minimum balance requirements.
  • Earns interest on your balance.
  • Visa debit card with daily limits of $100 for ATM withdrawals and $300 for purchases.
  • Free overdraft protection when linked to an Alliant savings account.

-Cons

  • Does not offer peer-to-peer payments services like Zelle.

Alliant Credit Union Certificates of deposit (CDs) 

The Alliant Credit Union offers a wide variety of CDs that will fit the needs of savers. For example, the 12-Month CD has a 0.60% APY with a $500 minimum balance, while the 60-Month CD has a 0.65% APY and requires a $2,500 minimum deposit.

While Alliant’s CD rates are not the highest in the market, they are still very competitive. In addition, Alliant does not charge any monthly service fees or early withdrawal penalties.

Alliant Credit Union IRA CDs

Alliant offers both Traditional and Roth IRAs, and each account type has its own unique benefits.

For example, with a Traditional IRA, savers can invest pre-tax money and receive a tax deduction at the end of the year. Roth IRAs, on the other hand, allow savers to contribute post-tax money but withdrawals in retirement are tax-free.

Alliant also offers a wide variety of terms for their IRA CDs, from 12 months up to 60 months. And, as with their other CDs, there is no monthly service fee and no penalties for early withdrawal.

Let’s look at the advantages and disadvantages of establishing a CD with Alliant Credit Union.

+Pros

  • Earns interest on your deposited funds.
  • Term options range from 12 to 60 months.
  • Competitive APYs.

Cons

  • A minimum deposit of $1000 is required.
  • No-penalty CDs

Credit Cards

Alliant Credit Union is a great place to find credit cards that offer different benefits and rewards.

For example, the Alliant Visa Platinum card comes with an introductory rate of 0% for 12 months on both purchases or balance transfers which can help you save money when making these transactions! You also get unlimited points so they are easy ways of redeeming your hard-earned cash back in any form – like gift certificates towards Amazon Prime membership just because it’s one less thing I need to think about each month!).

In addition, the Alliant Visa Platinum card has no annual fee and provides fraud protection.

Other Product of Alliant Credit Union

Alliant Credit Union also offers a wide variety of other products, including:

– Home Loans

– Auto Loans

– Personal Loans

– Credit Cards

– Savings Accounts

– Certificates of Deposit (CDs)

– IRAs

– Student Loans

If you’re in the market for any of these products, be sure to check out Alliant Credit Union!

Alternatives of Alliant Credit Union

Alliant Credit Union is a great place to bank, but it may not be the best fit for everyone.

Alternatives Of Alliant Credit Union
Alternatives of Alliant Credit Union

Here are some of the best alternatives to Alliant Credit Union:

  • Vio Bank
  • Ally Bank
  • Capital One Bank

These are just a few of the many alternatives to Alliant Credit Union. Be sure to do your research to find the best fit for you!

Here is a comparison of Alliant Credit Union with other products

Alliant Credit Union vs. Vio Bank

When it comes to choosing a bank, there are many factors to consider. Two of the most important factors are the products and services offered by the bank and the rates that offer on its product(s).

One such attractive option is Vio Bank an online banking service with higher-yield savings accounts which has more options than Alliant Credit Union. The terms and conditions between the two do not differ significantly.

Vio Bank offers a higher APY than Alliant Credit Union, with more options for CD durations. Vio Bank’s rates are not significantly different from those offered by Alliant Credit Union. However, Alliant Credit Union does offer other features that may be attractive to consumers, such as no monthly fees and free ATMs nationwide.

Alliant Credit Union vs. Ally Bank

Alliant Credit Union and Ally Bank are both online banks that offer a wide range of personal banking products, with competitive rates and almost no fees.

Which bank is better for you depends on what’s important to you. If you’re looking for the best savings account or CD rates, Ally is the better choice. If you’re looking for an interest-bearing checking account with no minimum deposit requirements and a large ATM network, Alliant is the better choice.

Both banks offer a lot of advantages, so it really comes down to what you value most in a bank.

Alliant Credit Union vs. Capital One Bank

 When comparing Alliant Credit Union and Capital One, it is important to look at the pros and cons of each.

Alliant Credit Union is a good choice for people who want to have the benefits of an online bank, such as no fees and high APYs but also want access to brick-and-mortar banks while Capital One offers special kid’s accounts or teen accounts that work in physical branches too. Be sure after choosing your favorite lender you read all fine prints so there are not any surprises later on in life!

Both banks offer fee-free checking and savings accounts. Ultimately, it comes down to what is important to you and your family when deciding which bank is better for you.

Is Alliant Credit Union right for you?

Alliant Credit Union is a great choice for people who want to have the benefits of an online bank, such as no fees and high APYs. It’s also a good choice for people who want access to brick-and-mortar banks.

Before you decide whether Alliant Credit Union is right for you, be sure to compare it with other banks to see which one offers the products and services that are most important to you.

How to Open an account with Alliant Credit Union?

If you’re interested in opening an account with Alliant Credit Union, follow these steps:

1. Go to the Alliant Credit Union website and click “Open an Account”

2. Choose the type of account you want to open

3. Complete the application and provide all required information

4. Review and agree to the terms and conditions

5. Submit the application

Once your application has been submitted, a representative from Alliant Credit Union will contact you to discuss the next steps.

Alliant Credit Union is a great choice for people who are looking for an online bank with no monthly fees and free ATMs nationwide. Be sure to compare Alliant Credit Union with other banks to find the best rates and products for you.

Verdict:

Alliant Credit Union Review

Alliant Credit Union is a great financial institution for those looking for a solid checking and savings account. The interest rates are competitive, and the customer service is top-notch. If you're looking for an easy online banking experience, or want to work with a credit union that has your best interests at heart, Alliant is a great choice.

Editor's Rating:
4.6

MoneyNiti is a website that helps people make better financial decisions. We’ve given you our review of Alliant Credit Union, and we think it’s a great place for your money. But don’t just take our word for it!

Share this article if you like it, and let us know what you think in the comments below. Thanks for reading, and happy banking!

FAQ’s

Is Alliant Credit Union a real bank?

Yes, Alliant Credit Union is a real bank. It’s a federally insured credit union that offers a wide range of personal banking products, with competitive rates and almost no fees.

What are the benefits of Alliant Credit Union?

Alliant Credit Union offers several benefits, including free checking and savings accounts, high APYs, and access to a nationwide ATM network.

Is Alliant Credit Union right for me?

It depends on what’s important to you. If you’re looking for the best savings account or an easy online banking experience, Alliant Credit Union is a great choice. But if you want access to physical branches or products and services that aren’t offered by Alliant, you may want to consider other banks.

What type of bank is Alliant?

Alliant Credit Union is a credit union, which is a type of bank. Credit unions are member-owned and operated, and they typically offer more competitive interest rates and fees than traditional banks.

Does Alliant Credit Union have a checking account?

Yes, Alliant Credit Union offers a free checking account that comes with no monthly fees and access to a nationwide ATM network.

Does Alliant have Zelle?

No, Alliant Credit Union does not have Zelle. Zelle is a money transfer service offered by many traditional banks. If you’re looking for a way to send and receive money quickly and easily, you may want to consider a bank that offers Zelle.

Leave a Comment