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Alliant Credit Union Review 2024

Updated January 2, 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
Info

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

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 7/18/2024
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
4.40
%
APY
APY
Info
As of 7/18/2024
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
4.50
%
APY
APY
Info
As of 7/18/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer:

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

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

  • Checkmark

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

  • Checkmark

    The credit union has manageable membership requirements.

Cons

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

Alliant logo

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Alliant Credit Union banking products

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

Alliant Credit Union savings overview

Alliant Credit Union’s high-yield savings account is among the best savings accounts nationwide. It pays a top-tier APY, rewarding members for keeping their savings with the credit union. 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.

Alliant Credit Union has an account called the Ultimate Opportunity Savings Account. Depositing at least $100 into that account for 12 straight months will help you earn $100.

Pros

  • Checkmark

    The high-yield savings account pays a competitive APY.

  • Checkmark

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

  • Checkmark

    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
    National average APY
    How do we get this data?
    Info
Compare Offer
Sponsored Offer
Info

This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 7/18/2024
Rating: 4.4 stars out of 5
Info
$0
Min balance for APY
Promoted offer:

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
Stop payment fee None

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

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.

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

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.

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 July 11, 2024 and July 17, 2024.

Selected bank
Alliant Credit Union savings account
Alliant Credit Union Logo
NCUA Insured
Bankrate score
Rating: 4.5 stars out of 5
4.5
Info
Most comparable
Ally Bank savings account
Ally Bank Logo
Member FDIC
Bankrate score
Rating: 4.4 stars out of 5
4.4
Info
Read review
Search for or select a bank:
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Bankrate score
Info
Read review
APY
Info
3.10% 4.20%
Minimum balance for APY
$100.00 $0.00
Estimated earnings
Info
$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

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.