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Alliant Credit Union Rate Cuts Scheduled For June 2012

Wednesday, May 23, 2012 - 12:43 PMAlliant Credit Union - Details
I called Alliant today to find out if the board has approved June rates. They have approved the new rates, and unfortunately, they will be falling. Below are the rate cuts that I was told are scheduled to take effect June 1, 2012:
  • Savings Account: 0.95% to 0.80%
  • High Rate Checking: 0.90% to 0.75%
I hope these will be the last cuts for the year. Last year Alliant Credit Union kept the savings account yield at 1.15% for all of 2011.
10
Ken TuminKen Tumin5,467 posts since
Nov 29, 2009
Rep Points: 124,994
1. Wednesday, May 23, 2012 - 4:56 PM
Do people stay with Alliant mainly for their fast ACHs?  These rates are pretty pathetic, IMO.
2
51hh51hh1,475 posts since
Jan 16, 2010
Rep Points: 6,423
2. Wednesday, May 23, 2012 - 5:47 PM
****! 0.95% was too low, and now they drop that much more. There's getting to be little reason to stick around with Alliant, especially with all the ifs, ands, ors and buts of details for every little thing. They justify all those details by saying it is what saves them enough to pay higher rates -- well, not if they cut rates as they have done.

BTW, I don't think Alliant's ACH service is fast -- I think they merely put out some very effective marketing to make people think so. If you don't get your transaction in before noon Chicago time, they will hold it until the next day to send into the ACH. That's not fast in the face of other banks getting it into the ACH same day even if you don't initiate the transaction until the end of the day, still arriving overnight.
4
me1004me1004368 posts since
Jan 16, 2010
Rep Points: 2,559
3. Wednesday, May 23, 2012 - 6:19 PM
 

A surprisingly large rate cut (about 15%) on top of the rate cuts earlier this year.  Alliant received national media attention last year for offering a high savings interest rate.  Unfortunately, their strategy of high rates appears to have ended.

 
4
JimMartin9JimMartin911 posts since
May 26, 2011
Rep Points: 58
4. Wednesday, May 23, 2012 - 6:50 PM
Alliant's savings account has become a rounding error.
4
BozoBozo137 posts since
Feb 14, 2011
Rep Points: 937
5. Wednesday, May 23, 2012 - 11:20 PM
Good Luck with your 20 reward cking accts and 200 transactions a month.

I like alliant and gave up chasing bank and ect for .10% LONG ago.
1
RicochetRicochet132 posts since
Jan 19, 2010
Rep Points: 362
6. Thursday, May 24, 2012 - 7:45 AM
NM.
 
1
51hh51hh1,475 posts since
Jan 16, 2010
Rep Points: 6,423
7. Thursday, May 24, 2012 - 11:38 AM
Good Luck with your 20 reward cking accts and 200 transactions a month.

I like alliant and gave up chasing bank and ect for .10% LONG ago.


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2
RicochetRicochet132 posts since
Jan 19, 2010
Rep Points: 362
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