Alliant Credit Union Review 2023
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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
- 24/7 Customer Service
- ATM Fee Refunds
- High APY
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
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 CD 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 = 5/5
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.
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
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The savings accounts, checking accounts and CDs offer competitive yields.
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Alliant offers surcharge-free access to over 80,000 ATMs.
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The credit union has manageable membership requirements.
Cons
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The credit union doesn’t offer any specialty CDs such as no-penalty CDs.
Alliant Credit Union banking products
FEATURES
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of 9/24/2023
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.
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
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The high-yield savings account pays a competitive APY.
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There’s no monthly fee for members enrolled in e-statements.
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Members can open multiple accounts to track specific savings goals.
Cons
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There are higher savings APYs available at certain online banks.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Alliant Credit UnionAPYAPYNational average APYSee table viewHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
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 = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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 |
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 does Alliant Credit Union compare to other banks?
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.
