Alliant Credit Union is one of the largest credit unions in the country. It’s been serving customers since 1935, but today the credit union operates primarily online.
As a leader in the credit union industry, Alliant stands out for its user-friendly online and mobile offerings. Plus, it provides one of the best high-yield savings accounts on the market.
Because it’s a non-profit credit union, Alliant offers competitive financial products and educational resources to its members. To find out if Alliant meets your financial needs, check out our full Alliant Credit Union review.Visit Alliant Credit Union
Alliant Credit Union review
If you’re unfamiliar with credit unions, note that unlike banks, they’re non-profit organizations. When you become a member, you’re also becoming a part owner. Because credit unions don’t operate for profit, they can offer competitive rates to their customers. Alliant serves over 335,000 members across the country.
Alliant has a wide range of banking products beyond checking and savings accounts. You can open an Alliant credit card, start an independent retirement account, take out a loan, or purchase an insurance plan.
Plus, you can conduct all your transactions on the sleek Alliant website or mobile app. While you won’t find many Alliant branches, you will have access to over 80,000 fee-free ATMs. Can’t find a free ATM in your area? Alliant will reimburse ATM fees up to $20 per month.
Finally, Alliant offers free financial advising, along with useful articles on its blog, The Money Mentor. Speak with an advisor about wealth management or find personal finance tips in The Money Mentor articles.
Alliant Credit Union eligibility requirements
Since it’s a credit union, Alliant has certain eligibility requirements to join, but these requirements are so flexible that the credit union is essentially open to anyone. There are five ways you could become a member of Alliant Credit Union. The first four require some sort of specific affiliation, but anyone could fulfill the fifth.
- You’re a current or retired employee of one of Alliant’s partner businesses or organizations. You can search for businesses in Alliant’s drop down list.
- A family member or domestic partner is already an Alliant member.
- You live or work in a qualifying community near Alliant’s Chicago headquarters.
- You belong to a qualifying organization, like the Freelancers Union or Chicago Bar Association.
- If none of these apply, you can join by donating $10 or more to the non-profit Foster Care to Success.
When you open an account with Alliant online, you’ll choose the applicable eligibility requirement. Then, you can go on to provide your personal information and set up your account.See If You’re Eligible
Alliant Credit Union products
As a major financial institution, Alliant offers a wide range of financial products. Here are the main ones.
With 1.00% APY, Alliant’s savings account has one of the highest yields on the market. To open a savings account, you need to make a $5 deposit. Plus, you need a balance of just $100 to get 1% APY.
If you’re saving for a specific goal, you can funnel deposits into a supplemental savings account. You can co-own an account with your child to teach them early financial habits — Alliant’s Kids Savings Account is open to children 12 and under.
Alliant’s NCUA-insured checking accounts are completely free to open. There’s no monthly service fee or minimum balance requirement. Your Visa debit card and first box of checks are also free.
You’ll qualify for a relatively high APY of 0.65% if you meet two requirements:
- Sign up for eStatements
- Make at least one deposit a month
If you have kids between 13 and 17, you can also open a joint-owned free Teen Checking Account with Alliant.
Alliant credit cards
Alliant Credit Union offers two credit cards to its members: the Visa Platinum Rewards Card and Visa Platinum Card. Both come with no annual fee and 12 months of 0% APR.
The rewards card offers one point for every dollar spent, plus 10,000 bonus points if you spend $500 in the first three months. The card you qualify for depends on your creditworthiness.
If you have particularly strong credit, though, you might qualify for a different credit card with an even better rewards program.
Alliant offers a range of loans, including:
- Student loans (traditional and consolidation)
- Personal loans
- Car loans
- Business loans
All of these loans come with competitive interest rates and optional debt protection plans. You can learn more about the full range of Alliant loans on the website.
Retirement savings accounts
You can also save for retirement with an Alliant traditional IRA, Roth IRA, or SEP IRA. Even though this is an online credit union, you can speak with an advisor for customized financial guidance.
Alliant advisors help with topics like retirement planning, wealth management, and life insurance. If you have assets to protect, you can also open a trust account with no maximum balance limit.
Alliant Credit Union provides five main insurance plans, as well:
- Auto insurance
- Homeowners insurance
- Accidental death insurance
- Whole life insurance
- Term life insurance
Both the auto and homeowners insurance programs offer a 24/7 claims service. An Alliant financial advisor can help you find the insurance program and plan that best meets your needs.
College savings accounts
Finally, you can invest in your child’s education by opening a Coverdell Education Savings Account (ESA). Your contributions will grow federal tax-free in this account with an APY of 1.00%. You can contribute up to $2,000 per year.
Using the Alliant website
Signing up for an Alliant account is easy. Simply head to the Alliant website and click on “Become a Member.”
Once you’ve chosen your eligibility requirement to join this online credit union, you’ll be prompted to accept the application agreement.
At this point, you’ll start entering personal information. You’ll need your ID number, social security number, and basic information. Plus, you must provide proof that you meet the eligibility requirement you selected.
Once you’ve submitted your application and are approved, you’ll receive your first box of checks and debit card in 10 to 14 days. And if you want to make banking even easier, download the Alliant mobile app.
With the app, you can view a history of your transactions, check your balance, locate nearby ATMs, or send a secure message to customer service.
Alliant Credit Union review of fees and interest rates
Holding an account with Alliant means no account minimum or monthly fees for checking or savings account. However, you can incur fees for certain transactions. Here are a few of the most common fees:
- Courtesy pay fee: $25
- Return deposit item: $15
- Non-sufficient fund item: $25
- Inactivity fee: $10
- Overdraft transfer: $3
- Account closed within 90 days of opening: $10
Alliant’s interest rates also vary by loan type. Whether you’re taking out a student, personal, business, home, or a car loan — each will be different. For example, student loans start with an APR as low as 3.41% and personal loans start at 12.15%.Check Out Alliant’s Rates Today
More about Alliant Credit Union
Alliant was originally founded as United Airlines Employees’ Credit Union in 1935. It had 146 members and managed just over $5,000 in assets.
Over the years, it expanded its products and services, along with access to membership. Today, Alliant Credit Union has over 335,000 members and manages $9.3 billion in assets.
Alliant’s headquarters are based in Chicago and it has 11 branch offices in five states. However, Alliant is mainly an online credit union — the majority of its members work with Alliant online or through the app.
Alliant Credit Union contact information
There are a number of ways you can contact Alliant Credit Union customer service. Send a secure message or email after logging into your account or get immediate help by calling 800-328-1935.
To keep up to date on the company, follow Alliant Credit Union on Twitter at @AlliantCU.
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