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Alliant Credit Union Savings Account Review

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Based in Chicago, Illinois, Alliant Credit Union is a financial cooperative and one of the largest credit unions in the United States. It is wholly member-owned and provides a range of exclusive benefits to members, including loans, bank accounts, credit cards, and more. Alliant savings accounts all feature a 1.75% APY, have no maximum balance, and can be accessed anywhere online.
 
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How Do We Rate Alliant Credit Union?

Breakdown

4.5/5
Rates and fees
5.0/5
Balance Requirements
0.0/5
Availability & Type of Financial Institution
4.0/5
Financial Stability & Ratings
0.0/5
Customer Support

Our Overall Rating: 4.4 / 5 (Excellent)

For those that qualify, the Alliant Credit Union offers savings accounts that have fairly high APY, no maximum balance, and a large network of ATMs. Although Alliant does have several fees and requires $100 to start compounding interest, that is offset by its accounts' flexibility, and 24/7 live support for members. We recommend Alliant for anyone considering high-rate, online savings accounts with a large network of ATMs.

As Alliant is a credit union, customers are required to join before they can access its services. However, this is a relatively quick and painless process, even if prospective members do not meet the initial qualifying criteria.

Alliant Credit Union Account Features

Balance Requirements - 5 / 5

Alliant features three types of savings account, all with a 1.75% Annual Percentage Yield rate. Regular and Supplemental savings accounts are almost exactly the same, the only difference being customers can open up to 19 supplemental accounts. Kids accounts are restricted to children 12 and under and the $5 initial deposit for opening the account is paid for by Alliant. Interest is compounded daily and paid each month. Alliant also has a mobile app that makes it easy for members to manage their finances. The company does provide members with a card to withdraw funds from its network of over 60,000 ATMs, but it is limited and cannot be used as a regular debit card. Those seeking a regular credit card can open a checking account–which can be linked to savings online–and apply for the Alliant Visa Debit Card.

APY (Annual Percentage Yield)

1.75%
Interest Compounded
Daily
Integration with Other Online Accounts
Checking
Mobile App
Yes
Debit/ATM Card
Yes
ATM Fees
Alliant offers rebates for fees charged at ATMs that are out of their network–up to $20 per month for checking account holders. The company deposits rebates in member account at the end of each day. Deposits, domestic and international withdrawals, transfers, and balance inquiries all qualify for Alliant's rebates.
No-Fee ATM
No-Fee at Network ATMs
Reimbursement for Domestic ATMs
Reimbursement for International ATMs
Branch Offices
The Alliant Credit Union has 11 branch locations in 8 cities and 5 states.

Alliant Credit Union Fees and Restrictions

Rates and fees - 4.5 / 5

In order to qualify for Alliant's range of services, potential members must meet at least one of five requirements. These are being: a supporter of their partner charity, Foster Care to Success (FC2S), employees or retirees of qualifying companies, immediate family members of existing Alliant members, members of qualifying organizations, or residents or employees in qualifying communities. Alliant's cash withdrawal limit is $1,000 per day and transfer limits depend on whether the transfer is outbound or inbound. The company's savings account has no maximum balance. Both High-Rate and Supplemental accounts require a $5 deposit to open, and a balance of at least $100 must be maintained in order to accrue interest. As per Federal standards, savings account owners may not carry out more than six transactions per account, per monthly statement cycle. Doing so will result in Alliant charging a fee.

Fees

Maintenence
Insufficient Balance Fee
Inactivity Fee
Passed Monthly Transaction Limit Fee
Returned Deposit Fee
Overdraft Fee
Out of Network ATM Fee
Minimum Opening Deposit
$5
Minimum Balance for Promotional APY
$100
Minimum Balance to Avoid Penalty
$5
Withdrawal Limit
Alliant's daily ATM withdrawal limit is $1,000.
Transfer Limit
Outbound transfers: is $25,000/day; inbound transfers: $100,000/day.
Maximum Balance
No maximum balance.

Alliant Credit Union Reputation & Financial Strength

Financial Stability & Ratings - 4 / 5

Alliant has a relatively good reputation online, currently holding a BBB accreditation and A+ rating with them. The union was founded in 1935 and is one of the largest credit unions in the nation, based on assets and deposits. It also regularly receives high ratings for safety and soundness by state and federal regulators. The company provides 24/7 support to members via phone, and will answer email inquiries in no longer than one business day.
Year Founded
1935
Consumer Financial Protection Board (CFPB) Complaints
0

Contact Methods

  • Phone
  • Email
  • Social Media
BBB Rating
A+
BBB Total Complaints
30
BBB Resolved Complaints
6
Customer Support Hours
24/7 by phone, emails answered in 1 business day
Live Help 24/7
Yes

Company Profile

Full Name
Alliant Credit Union Savings Account
Company Website
https://www.alliantcreditunion.org
Headquarters
11545 West Touhy Avenue, Chicago, IL, 60666

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Our Partner
  • High-Rate Savings, Supplemental Savings, and Kids Savings Accounts
  • Open multiple savings accounts, easily move money between them
  • Membership is quick and easy for almost anyone
  • Access anywhere with Alliant online banking and mobile app
  • Withdrawals and deposits at thousands of ATM nationwide
  • No monthly fee with eStatements
  • 24/7 member support
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