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800-328-1935
11545 W Touhy Ave
Chicago, IL 60666

Alliant Credit Union is an Illinois-based financial cooperative that offers personal banking products and loans to a wide membership consisting of hundreds of thousands of members. The credit union offers depository banking products, retirement and investing services, and various types of mortgage and personal loans.

In the way of depository banking products, Alliant offers checking, savings, Certificate (CD), and IRA accounts. The free checking account option has no monthly service fee, no minimum balance requirement, no check writing fees, and comes with a free Visa debit card and free checks. The teen checking account similar to the free checking but comes with optional parental and spending controls for joint owners to use to provide account management help. Savings account options feature competitive dividend rates, and a children’s savings account provides a way for parents to help their kids under age 12 to start saving early. Both health and education savings accounts are also available and provide tax incentives to save for medical expenses and educational costs, respectively. Certificates (CDs) and IRA accounts are offered in term lengths ranging from 12 to 60 months and come with fixed dividend rates.

On the lending side, the credit union offers student, mortgage, home equity, vehicle, and various personal loans to provide financial assistance to members for various needs.

Alliant Credit Union online banking provides personal financial management capabilities for members to digitally perform tasks like transferring money, paying bills, electronically depositing checks, creating account alerts, and integrating account transactions into financial management software for budgeting and planning purposes. Mobile banking is also available through smartphone apps that are capable of mobile deposit as well as all of the aforementioned online banking functions.

Alliant Credit Union was originally established in 1935 by a group of United Airlines employees, who named it United Airlines Employees’ Credit Union. It opened its field of membership up to organizations outside of the airline in 2003, and has expanded its criteria considerably since then. The credit union is headquartered in Chicago, Illinois, and operates branch locations all across the United States.

Field of Membership Restrictions

Alliant membership is an exclusive benefit available to individuals who meet one of the following eligibility requirements: * Any member of Foster Care to Success (anyone can be a member for $10, see page) * Any employee or member of a Qualifying Organization * Any person who lives or works in a qualifying Chicagoland Community * Any person related by blood or law to an existing member * Domestic partners of unmarried members - See Details

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Alliant Credit Union Checking Account Bonus and Updated Checking Review - 9/24/2013

Alliant Credit Union ’s checking account called High Rate Checking has a long history of competitive rates and useful features. There’s another reason to consider this checking account. Alliant is off ...


11/29/11 - Top Savings & Checking Account Rates Continue at Alliant Credit Union
11/17/11 - Alliant Credit Union Cuts CD Rates By 20 BPS
11/1/11 - Does Alliant Credit Union Waive The Overdraft Fee For The First Time Each Year?
10/27/11 - Update on Alliant Credit Union - Top Rates Continue
9/24/11 - Alliant Credit Union's Savings Account Rate Holding For October 2011
8/22/11 - Alliant Credit Union's Savings Account Rates Holding For September 2011
7/26/11 - Alliant Credit Union Savings Account Rates Holding For August 2011
5/20/11 - Higher Long-Term CD Rate at Alliant Credit Union - Available Nationwide
2/17/11 - Alliant Credit Union's New Branches In TX, AZ & NJ
2/16/11 - Best Internet Checking Accounts That Offer Paper Checks
1/25/11 - Alliant CU Downtime 1/28-1/31, May Impact Debit Card Transactions
1/25/11 - Update on Alliant Credit Union's Savings and Checking Accounts
12/28/10 - Alliant Credit Union Cuts CD Rates By 20 Basis Points
12/17/10 - Alliant Savings Account Yield To Fall To 1.15% In January
12/17/10 - Alliant Credit Union's Savings and Checking Rate Scheduled to Drop in January
12/14/10 - Any Online Credit Union Suggestions Open To Anyone To Qualify For Sprint Discount
11/22/10 - Rates Remain The Same
10/25/10 - Alliant CU Checking And Savings Account Rate Will Remain 1.35% In November
10/20/10 - CD Rates Fall But Still Competitive at Alliant Credit Union
10/15/10 - Update on My Short List of Top Online Savings Accounts
10/1/10 - Best Place for Your Savings? Reward Checking, Savings Accounts or CDs?
9/22/10 - Internet Checking Accounts with the Best Interest Rates
9/9/10 - Comparing Alliant Credit Union's CDs with Ally Bank's 5-Year CD
8/27/10 - Internet Savings Accounts - Is Rate Chasing Still Worthwhile?
8/26/10 - Alliant Credit Union Cuts CD Rates
8/23/10 - Alliant Credit Union To Cut Savings And Checking Yield To 1.35% In September
7/22/10 - Five Best Regular Interest Checking Accounts Available Nationwide
7/21/10 - Alliant CU Checking And Savings Accounts Rates Will Remain 1.5% In August
7/19/10 - Alliant CU Credit Inquiry And Displayed Credit Score
6/30/10 - Watch Out For This BAD Practice By Alliant Credit Union
6/21/10 - Alliant Credit Union's Savings & Checking Rates For July
6/9/10 - Alliant Credit Union's Competitive CD Rates - Available Nationwide
5/26/10 - Alliant Credit Union's $50 High Rate Checking Bonus
5/25/10 - Alliant Credit Union's Savings & Checking Rates for June
4/25/10 - Alliant Credit Union Savings and Checking Account Rates for May
4/15/10 - Alliant Credit Union Is Improving Its ACH Transfer Service
4/1/10 - It's Official: Alliant Savings and Checking Yield Is Now 1.50%
3/25/10 - New Alliant Credit Union CD Rates - One Bit of Good News
3/23/10 - Alliant Credit Union Reducing Savings Account Yield to 1.50%
3/23/10 - Alliant Credit Union Makes It Easier To Join
3/21/10 - I Was Right Down To The "I Authorize" Button When The Hard Pull Question Entered My Head
3/11/10 - Check Out Bank Tracker Link
3/6/10 - Was Searching For Good Rates And Alliant Credit Union (Chicago) Does Have Excellent Rates
3/1/10 - PenFed, Alliant & Melrose Continue Top CD Rates into March
2/25/10 - The Best Savings Account with a History of Top Rates
2/23/10 - Alliant Credit Union Will Keep Its Savings Rate At 2
2/22/10 - Alliant Credit Union's Savings Account Yield to Remain 2.00% for March
1/24/10 - 2.00% Savings Account to Continue in February at Alliant Credit Union
12/22/09 - Update on My Short List of Top Savings Accounts
11/25/09 - Alliant Credit Union's Savings Account Rate to Remain 2% Through December
9/24/09 - Alliant Credit Union Increases CD Rates, Holds Savings Account Rate Steady - Available Nationwide
8/25/09 - Update on Alliant Credit Union's Savings Account and Checking Account
8/2/09 - Short List of the Top Online Savings Accounts
4/2/09 - Update on Alliant Credit Union's Checking, Savings and CDs
3/15/09 - Health Savings Account Overview and Finding the Best HSA
2/8/09 - 3.40% 12-Month CD & 4.25% 48-Month CD at Alliant Credit Union - Easy Membership
1/12/09 - 4.50% 48-Month CD & 4.25% 36-Month CD at Alliant Credit Union - Nationally Available
1/6/09 - Alliant Credit Union's Free High Rate Checking Account & Updates on its Savings Account, HSA and CDs
11/24/08 - Update on Alliant Credit Union's Savings Account and CDs
7/1/08 - It's Official - Alliant Credit Union Cuts Savings Account Rate to 3.75%
6/4/08 - Update on Alliant Credit Union Rates
5/1/08 - New Alliant Credit Union Savings Account and CD Rates - Down But Still Very Competitive
4/1/08 - Update on Alliant Credit Union - Competitive Savings Account and CD Rates
1/30/08 - Competitive CD and Savings Account Rates Still at Alliant Credit Union
1/17/08 - Update on Alliant Credit Union and Their Field of Membership
1/16/08 - Update on Alliant Credit Union and its 5.40% CDs
1/5/08 - 5.40% 24-Month / 5.40% 12-Month CD at an Illinois CU - easy membership (Alliant).
12/3/07 - 5.15% 24-Month / 5.15% 12-Month CD at an Illinois CU - easy membership (Alliant).
9/24/07 - 5.30% 24-Month / 5.30% 12-Month CD at an Illinois CU - easy membership (Alliant)

Alliant CU - I'd Recommend It To Anyone

This CU is so highly regarded here at depositaccounts and at FW that it hardly needs a review (which makes me wonder why I'm writing one, lol) I've had savings and checking accounts with them for about three and a half years. When I was doing the 0% BT game I had several hundred thousand dollars on deposit with them. I've never once had a problem. They always answer my emails the same day - often within an hour! As BankingGuy's weekly rate summaries show, their deposit account rates are always near the top of the list. They provide your credit score for free, and update it every 3 months. Your first order of checks is free. ACH transfers, both push and pull, are free. If you schedule a transfer before noon Central Time, the money will be in the requested account by the following day. There were 2 instances that they charged me fees for reversed transactions that weren't my fault. Both times I emailed them about it and both times they waived the fees immediately, no questions asked. They're big on education - an easy way to qualify for membership is to belong to your local or the national PTA. Every year they award scholarships to undergraduate college students who have accounts with them and computer certificates to children and highschoolers that are Alliant customers. Alliant CU is the former United Airlines Employees CU, which is why over half of their branches are located at airports. They have >80,000 surcharge-free ATM's and you can call them about your account 24/7. I've never seen them run a bonus offer for opening a new account, but with all the positive word of mouth advertising that they receive, they probably don't see any need to. The only reason that I'm giving them five stars is that I can't give them six!

Alliant Credit Union Saving And High Interest Checking Account

If you are looking for a good rate saving account so that you can freely take money out or deposit in, Alliant Credit Union is one of the best choices. the interest rate is 1.50% APY.

Or,  if you can set up a direct deposit, or reoccurance of monthly transfer from another bank/credit Union, you can get the high interest rate checking account with the same interest rate 1.50% APY, which is even better, as you are not limited to 6 withdraws as the saving account is.

Alliant Credit Union has kept their interest rate competitive over the years. Even though the interest rate dropped a lot compare to 2007 or 2008, it's still very competitive among all the banks and credit unions.

Good Choice Overall For Nonlocal Institution

Among best rates historically on paying/receiving sides. 1-day transfers savings to checking usually to avoid running out of funds. Bill pay by mail service, low-cost paper checks. Responsive customer service which has actually been helpful in the main.
Good collection/payment hub for stockbroker transactions. Computer deposits of checks not working for me, deposits by mail with holds take a week+, the only difficulties. Join by PTA connection.

Great Until You Miss A Payment

If you have plenty of cash on deposit with Alliant, then their service is better than any bank's. But, if you miss a payment, their good service ends immediately.

Their practices at that point include:

-revoking self-service-telephone and internet access to your account so can no longer see your balances or track your due dates.

-restricting you from 24-hour telephone customer service so that you cannot attempt to reconcile your account in the evenings or on weekends.

-holding ALL your deposits 10 days, even cash ATM deposits, to minimize your ability to make timely payments, and to maximize their excuses to pile on maximum late fees.

-revoke your ATM access to prevent you making any cash payments or deposits.


Don't take my word for any of this. Ask Alliant yourself and be forewarned about how they handle missed payments.

VIEW MORE REVIEWS

Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Alliant Credit Union had $30.64 million in non-current loans and owned real-estate with $890.99 million in equity and loan loss allowances on hand to cover it. This gives Alliant Credit Union a Texas Ratio of 3.44% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Alliant Credit Union decreased slightly from 4.63% as of March 31, 2013 to 3.44% as of March 31, 2014, resulting in a positive change of 25.66%.This indicates that the balance sheet and financial strength for Alliant Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C

In the past year, Alliant Credit Union has decreased its total deposits by -$132.8 million, resulting in -1.89% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Alliant Credit Union has shown is average.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Alliant Credit Union has $8.21 billion in assets with $890.99 million in equity, resulting in a capitalization level of 10.85%, which is above average.

Institution Statistics

Overall
NCUA #67955
Year Chartered1935
Employees346
Primary Regulator
Assets and Liabilities
Assets$8.21 billion
Loans$4.49 billion
Deposits$6.88 billion
Equity Capital$865.13 million
Loan Loss Allowance$25.86 million
Unbacked Noncurrent Loans$26.92 million
Real Estate Owned$3.72 million
Historic Data - March 2013
Assets$8.28 billion
Equity Capital$853.35 million
Loan Loss Allowance$27.08 million
Unbacked Noncurrent Loans$26.92 million
Real Estate Owned$4.84 million
Profit Margin - Quarterly
Net Interest Margin0.65%
Return on Assets0.84%
Return on Equity8%
Interest Income$48.02 million
Rates
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Always verify rates and promotions with the bank or credit union. We are not Alliant Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Alliant Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.70%--Savings
0.70%--Coverdell ESA Savings
0.70%--IRA Savings
0.70%--Roth IRA Savings
0.70%--SEP IRA Savings
0.65%--Health Savings Account
0.25%--Mortgage Share

Alliant Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.65%--High Rate Checking

Alliant Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.55%$1k-48 - 59 Month Share CD
1.25%$1k-36 - 47 Month Share CD
1.05%$1k-24 - 35 Month Share CD
0.90%$1k-18 - 23 Month Share CD
0.75%$1k-12 - 17 Month Share CD

Alliant Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.55%$1k-48 - 60 Month Traditional IRA
1.55%$1k-48 - 60 Month Roth IRA
1.55%$1k-48 - 60 Month SEP IRA
1.55%$1k-48 - 60 Month CESA
1.55%$1k-60+ Month CESA
1.25%$1k-36 - 47 Month Traditional IRA
1.25%$1k-36 - 47 Month Roth IRA
1.25%$1k-36 - 47 Month SEP IRA
1.25%$1k-36 - 47 Month CESA
1.05%$1k-24 - 35 Month Traditional IRA
1.05%$1k-24 - 35 Month Roth IRA
1.05%$1k-24 - 35 Month SEP IRA
1.05%$1k-24 - 35 Month CESA
0.90%$1k-18 - 23 Month Traditional IRA
0.90%$1k-18 - 23 Month Roth IRA
0.90%$1k-18 - 23 Month SEP IRA
0.90%$1k-18 - 23 Month CESA
0.75%$1k-12 - 17 Month Traditional IRA
0.75%$1k-12 - 17 Month Roth IRA
0.75%$1k-12 - 17 Month SEP IRA
0.75%$1k-12 - 17 Month CESA
Locations

Alliant Credit Union has 14 locations. Click to view all Alliant Credit Union locations.