About Alliant Credit Union
Started from a small group of United Airlines employees in 1935, Alliant Credit Union now ranks as one of the largest credit unions in the nation, serving 450,000 members nationwide with more than $11 billion in assets. As a digital credit union, Alliant also provides members with top-notch online banking, an award-winning mobile banking app, retirement and investment services, ongoing personal finance education, and free personal financial management, budgeting and debt management tools.
Pros & Cons
Pros
- No monthly fee
There’s no minimum balance you need to maintain and there are no monthly fees to pay.
- ATM refunds
Alliant Credit Union offers a network of 80,000 surcharge-free ATMs that you can use without paying a fee. If you’re not near a fee-free ATM, you can use any other ATM in the United States to make a withdrawal. If the ATM charges a fee, Alliant Credit Union will reimburse you, up to $20 per statement.
- Great interest rate
Banks pay interest on these deposits because they treat those deposits like loans. Banks pool the balances of all the accounts at the bank and use that money to invest or make loans.
- Overdraft forgiveness every year
The first courtesy pay, which is available to all Alliant Credit Union customers that have had their checking account for at least six months and received $600 in deposits in the past 30 days. With courtesy pay, Alliant Credit Union will allow you to spend more money than is available in the account, covering the difference for you. Alliant bank mobile apps available.
Cons
- Requires credit union membership
Bonus
Unfortunately, Alliant Credit Union now does not offer bonus to new customers. However, the high interest rate on every type of account is worth investing.
Accounts & APY
Saving
Checking
Kids Savings Accounts
You can also open savings accounts for children under the age of 13, helping them develop healthy financial habits. To do so, Alliant Credit Union requires a parent, grandparent, or guardian to jointly own the account with the child. The account features are otherwise the same as the High-Rate Savings account.
Minimum Checking/Saving account Requirement
A minimum $5 deposit (provided compliments of Alliant) is required to open an Alliant. There is no minimum balance requirement to open an Alliant checking account or to earn the stated APY.
Fees
Wire Transfers
Alliant Credit Union does not charge any fee for any incoming wire transfer! But for outgoing foreign wire transfer, they do charge $50 and $25 for domestic wire transfer.
Stop Payments (checks)
Fortunately, Alliant charges no fee to stop payments in checks via online banking or phone banking.
Courtesy Pay Fee (per occurrence)
However, Alliant do charge $28 for courtesy payment per occurrence.
ATM Transactions Fee
Good News: no ATM Transaction fee is applied.
Customer Service
Customer service is Alliant’s number one priority. To speak with an Alliant member services representative, please call anytime at (800) 328-1935 (24/7). For international callers, please contact us at (773) 462-2000 (24/7).
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