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.
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.
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%.
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.
Interested in refinancing student loans?Here are the top 6 lenders of 2018!
|Lender||Variable APR||Eligible Degrees|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 7.89% APR (with Auto Pay). Variable rate loan rates range from 2.47% APR (with Auto Pay) to 6.97% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of Month/Day/Year, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 08/21/18. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at firstname.lastname@example.org, or call 888-601-2801 for more information on ourstudent loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for Laurel Road.
Laurel Road Disclosures
APR stands for “Annual Percentage Rate.” Rates listed include a 0.25% EFT discount, for automatic payments made from a checking or savings account. Interest rates as of 11/8/2018. Rates subject to change.
Variable rate options consist of a range from 3.27% per year to 6.09% per year for a 5-year term, 4.64% per year to 6.14% per year for a 7-year term, 4.69% per year to 6.19% per year for a 10-year term, 4.94% per year to 6.44% per year for a 15-year term, or 5.19% per year to 6.69% per year for a 20-year term, with no origination fees. APR is subject to increase after consummation. The variable interest rate will change on the first day of every month (“Change Date”) if the Current Index changes. The variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR) (currency in US dollars), as published on The Wall Street Journal’s website. The variable interest rates and Annual Percentage Rate (APR) will increase or decrease when the 1-month LIBOR index changes. The variable interest rates are calculated by adding a margin ranging from 0.98% to 3.80% for the 5-year term loan, 2.35% to 3.85% for the 7-year term loan, 2.40% to 3.90% for the 10-year term loan, 2.65% to 4.15% for the 15-year term loan, and 2.90% to 4.40% for the 20-year term loan, respectively, to the 1-month LIBOR index published on the 25th day of each month immediately preceding each “Change Date,” as defined above, rounded to two decimal places, with no origination fees. If the 25th day of the month is not a business day or is a US federal holiday, the reference date will be the most recent date preceding the 25th day of the month that is a business day. The monthly payment for a sample $10,000 loan at a range of 3.27% per year to 6.09% per year for a 5-year term would be from $180.89 to $193.75. The monthly payment for a sample $10,000 loan at a range of 4.64% per year to 6.14% per year for a 7-year term would be from $139.65 to $146.76. The monthly payment for a sample $10,000 loan at a range of 4.69% per year to 6.19% per year for a 10-year term would be from $104.56 to $111.98. The monthly payment for a sample $10,000 loan at a range of 4.94% per year to 6.44% per year for a 15-year term would be from $78.77 to $86.78. The monthly payment for a sample $10,000 loan at a range of 5.19% per year to 6.69% per year for a 20-year term would be from $67.05 to $75.68.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
3 Important Disclosures for SoFi.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.
All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.28% effective October 10, 2018.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.47% – 6.99%3||Undergrad & Graduate|
|2.57% – 6.97%1||Undergrad & Graduate|
|2.51% – 8.09%4||Undergrad & Graduate|
|3.02% – 6.44%2||Undergrad & Graduate|
|2.50% – 7.24%5||Undergrad & Graduate|
|2.79% – 8.39%6||Undergrad & Graduate|