Alliant Credit Union Review 2024
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
At a glance
CDs
Checking
Savings
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
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
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.
Alliant Credit Union banking products
APY last updated between 12/15 and 12/21.
Alliant Credit Union savings overview
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 UnionAPYAPY last updated between 12/15 and 12/21.APYAPY last updated between 12/15 and 12/21.National average APYHow 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.
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 |
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
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 Dec. 15, 2024 and Dec. 21, 2024.
Selected bank
Alliant Credit Union savings account
Bankrate score
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
Bankrate score
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. |
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. |
---|---|---|
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 Dec. 15, 2024 and Dec. 21, 2024.
|
||
3.10% | 3.80% | |
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 | $1,900 | |
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. | |
|
|
N/A
|
|
|
N/A
|
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.
Alliant Credit Union FAQs
Review methodology
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 customer reviews
Alliant Credit Union has 24 reviews
Dive into community reviews below and see what others think about Alliant Credit Union.
In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.
Community Reviews
Thank you for sharing your experience with Bankrate