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. Education savings accounts are also available and provide tax incentives to save for educational costs. 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 is available online only.
Alliant Credit Union is open to anyone through membership in Foster Care to Success ($10 donation). Membership is also open to those who live or work in the Illinois communities of Arlington Heights, Bensenville, Des Plaines, Elk Grove Village, Elmhurst, Franklin Park, Harwood Heights, Itasca, Mount Prospect, Niles, Norridge, NorthLake, Park Ridge, Prospect Heights, River Grove, Rolling Meadows, Rosemont, Schiller Park, or Wood Dale and to employees and members of select organizations, including O'Hare International Airport.
See current membership details
They are extremely responsive. Secure messages are replied to and solved the next business day. They are also very honest and transparent about the earnings and frequently update their competitive APY. Also, they don't have the limit of 6 transfers on the savings. After all, the best banking experience I've had so far!
I've been a member for 10 years. My old CU was put into receivership and Alliant became the new entity. I see these negative reviews and can only conclude the reviewers would have the same opinion no matter where they "banked". I dare anyone to walk into a local bank and get the rates that Alliant offers. Even one of your local CUs. Not possible
The only criticism I have is the website. It sets a cookie to verify you, and if your computer deletes the cookie, then you have to be reverified, and it's a pain.
Alerts and notifications are far better than the other CUs I have dealt with.
The process was easy getting a checking account with Alliant. They seem a little behind with technology. Their app could use a little bit of improvement. They don't offer text banking to check your balance by a text. The app seems a little slow to quickly check your balance. I have been charged overdraft fees and had checks returned when mathematically I don't know how it was possible. Some banks/credit unions will give you until the end of the business day or until midnight to fix overdrafts. Alliant won't, and unlike a bank, they have no limit to the amount of overdraft fees. Customer Service seems alright, hold times didn't seem excessive, but it seems to be a long process of getting verified before they will talk to you. Rates on checking accounts are good. I never had an interest bearing checking account before, so it is nice to see some interest earned at the end of the month.
I really hate this bank. They don't have enough personnel to deal with wire transfers. I'm in another country buying a car and these people can't send a simple wire transfer. They are never available on the phone either. The call wait time is countless. In addition, there is only one central phone number. First you have to wait for some generalized individual to answer that line (long waits). When you get them on the phone (paying every minute of international cell phone time), they waste your time asking security questions. Then, they transfer you to the wire transfer department. And of course, no one answers the phone there. If they are too busy, they will just drop your call. "There is no one to help you." That's the message you get. So, you can do it all over again at some point- while the car dealership or home owner is tapping their feet waiting for their money! Every wire transfer- domestic and foreign- is a nightmare. Don't use this bank if you travel or live outside the country. It's a nightmare
Overall | |
---|---|
NCUA # | 67955 |
Year Chartered | 1935 |
Employees | 844 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.36% |
Return on Equity - YTD | 1.46% |
Annual Interest Income | $518.6MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q2 2023vs Q2 2022 | $19.00B$16.44B |
Loans | Q2 2023vs Q2 2022 | $14.87B$12.26B |
Deposits | Q2 2023vs Q2 2022 | $14.34B$13.09B |
Equity Capital | Q2 2023vs Q2 2022 | $4.66B$1.45B |
Loan Loss Allowance | Q2 2023vs Q2 2022 | $147.9MM$96.8MM |
Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $84.6MM$37.8MM |
Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Alliant Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.25% | - | - | High-Rate Checking | |
0.25% | - | - | Teen Checking |
Alliant Credit Union is an Internet only bank and does not have branch locations. Its headquarters is located at 11545 W Touhy Ave - Chicago, IL 60666