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Alliant Credit Union Review 2024

Updated July 25, 2024
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At a glance

Best credit union
4.6
Rating: 4.6 stars out of 5
Bankrate Score
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CDs

Rating: 4.7 stars out of 5

Checking

Rating: 4.8 stars out of 5

Savings

Rating: 4.4 stars out of 5

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
Sponsored offers
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.00
%
APY
APY
Info Icon
As of 11/18/2024
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer:
Bank logo
Member FDIC
Savings Account
4.00
%
APY
APY
Info Icon
As of 11/18/2024
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Bank logo
Member FDIC
Savings Account
4.75
%
APY
APY
Info Icon
As of 11/18/2024
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money

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

  • Checkmark Icon

    The savings accounts, checking accounts and CDs offer robust yields.

  • Checkmark Icon

    Alliant offers surcharge-free access to over 80,000 ATMs.

  • Checkmark Icon

    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 logo

We want to know what you think about Alliant Credit Union

Do you have experience with Alliant Credit Union? Let us know your thoughts.

Alliant Credit Union banking products

4.4
/5
Rating: 4.4 stars out of 5
SCORE BREAKDOWN
APY offering:
3.10%
Rating: 4 stars out of 5
4/5
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Minimum balance for APY:
$100.00
Rating: 4 stars out of 5
4/5
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Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
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Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info Icon
Access to funds:
Great
Rating: 5 stars out of 5
5/5
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FEATURES
Invest Rate Icon
3.10% APY
Info Icon
Savings Icon
$100 minimum balance for APY
Loan Icon
$100 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

  • Checkmark Icon

    The high-yield savings account pays a competitive APY.

  • Checkmark Icon

    There’s no monthly fee for members enrolled in e-statements.

  • Checkmark Icon

    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
    Info Icon
    National average APY
    How do we get this data?
    Info Icon

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.

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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

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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 Nov. 11, 2024 and Nov. 17, 2024.

Selected bank
Alliant Credit Union savings account
Alliant Credit Union Logo
NCUA Insured
Bankrate score
Rating: 4.4 stars out of 5
4.4
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Most comparable
Ally Bank savings account
Ally Bank Logo
Member FDIC
Bankrate score
Rating: 4.4 stars out of 5
4.4
Info Icon
Read review
Search for or select a bank:
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Bankrate score
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Read review
APY
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3.10% 4.00%
Minimum balance for APY
$100.00 $0.00
Estimated earnings
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$1,550 $2,000
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

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

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 customer reviews

CTA Alliant Credit Union has 24 reviews

Alliant Credit Union has 24 reviews

Dive into community reviews below and see what others think about Alliant Credit Union.

4.4 Star Icon
24 ratings
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Score breakdown
5 stars
54%
4 stars
38%
3 stars
4%
2 stars
4%
1 star
0%
Score by category
Overall Rating 4.4 / 5
Competitiveness of APY 4.3 / 5
Amount of fees 4.3 / 5
Customer support 4.5 / 5
Website / Mobile app 4.4 / 5
Verified Badge Icon Bankrate methodology disclosure

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

See what users like you are saying about Alliant Credit Union.
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Anonymous account holder
September 13, 2024
Their customer service is great. I chose Alliant because of their customer service and location.
Score by category
Amount of fees 3 / 5
Competitiveness of APY 3 / 5
Customer support 5 / 5
Website / Mobile app 2 / 5
Anonymous account holder
September 13, 2024
They have great customer service. I have never had any problems with them.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
What people check, the interest rate of the bank. It is a mind blowing experience.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 4 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
I have been with this bank most of my adult life and they are loyal, dependable, and really care about their customers. They build relationships. They excel in all of these areas. Top notch customer stands out.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 4 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
The ability to switch money out of the savings account fast without any fees. I give it a 7/10. It's good, but it does need improving in updating as it is a bit outdated.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 4 / 5
Anonymous account holder
September 13, 2024
The interest is a little above the national average of any bank. limited number of times if you transfer from savings to checking. Customer service is very helpful and not overpowering to get you into other products. They are knowledgeable of products and helpful. Digital experience is very easy and where I get most of my banking done. Its very convient and have any questions or problems, very easy to chat with anyone there.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
Direct deposits post the same day. I’ve had no issues, there are always ATM close to any location with no fees. That is one of the greatest benefits not having to pay for your own money.
Score by category
Amount of fees 3 / 5
Competitiveness of APY 3 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
Take care of customers very well. Great.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 5 / 5
Website / Mobile app 3 / 5
Anonymous account holder
September 13, 2024
Their fees are a bit higher compared to other banks but they are easy to work with. Good customer service, convenience, and a strong app that enables easy deposits.
Score by category
Amount of fees 4 / 5
Competitiveness of APY 4 / 5
Customer support 4 / 5
Website / Mobile app 5 / 5
Anonymous account holder
September 13, 2024
Alliant is a great bank to be with. Their customer service is second to none. Great interpersonal skills from the employees. They are very knowledgeable helpful and they have great rewards system for cash back on purchases. No fees for checking or savings. I would recommend this bank to anyone looking for a great bank.
Score by category
Amount of fees 5 / 5
Competitiveness of APY 5 / 5
Customer support 5 / 5
Website / Mobile app 5 / 5