Alliant Credit Union

Overview / Commentary
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. 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.

Field of Membership Restrictions

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

Related Posts

Alliant Lowers 12-17 Mo CD Rate - 3/24/2024

12-17 months Regular Share Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.18% – Compounded Annual Percentage Yield of 5.30% APY on balances between $1,000 and $74,999.99. Jumbo Share Certificates with a term between 12 and 17 months provide a Dividend Rate of 5.22% – Compounded Annual Percentage Yield of 5.35% APY on balances $75,000 or greater

My Alliant CD Dilemma - 2/22/2024

Bit of a sticky one for me at Alliant currently. Their CD interest rates, though perhaps not spectacular, are at least respectable. And I want to be a player except that: As Alliant followers are well aware we have entered a treacherous interval of time there. This next several weeks will most likely be when some members are unceremoniously, and without any stated reason, excised from Alliant. As attractive as the Alliant CDs might be, I am hesitant to open one given I am at threat, just as is any Alliant member, of being kicked out of the credit union only shortly after making my investment. When I open a CD I need some assurance my chosen FI will see me, and my new CD, through to maturity. You do not have that at Alliant.

Decrease In CD Rates - 2/1/2024

Small changes in CD Rates greatest decrease in the 18 and 60 month. CD's. Changes to standard CD's listed below: Term Old APR New APR 6 Month 4.50% 4.25% 18 Month 5.30% 5.03% 24 Month 4.45% 4.40% 36 Month 4.45% 4.40% 48 Month 4.18% 4.05% 60 Month 4.35% 4.00%

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12/1/21 - Alliant Savings, Once Again, Remains At 0.55%
11/1/21 - Alliant Savings Remains At 0.55%
10/1/21 - Alliant Savings Remains At 0.55% APY
8/3/21 - Alliant Credit Union Drops Overdraft Fees
8/1/21 - Alliant Savings Remains At 0.55%
7/1/21 - Alliant CU Savings Remains At 0.55%
5/1/21 - Alliant CU Savings Holds At 0.55%
2/1/21 - Good News - Alliant Savings Remains At .55%
1/18/21 - Open Savings Account and Deposit $100 a month for 12 months and get $100 Bonus
1/1/21 - "Happy New Year" from Alliant CU - No rate change
12/1/20 - Early Christmas Present From Alliant CU - No Rate Change
11/1/20 - Alliant CU Drops Savings Rate From 0.65% To 0.55%
10/1/20 - Alliant Savings Remains At 0.65%
9/2/20 - Alliant CU Savings Account Down To 0.65% APY
6/2/20 - When Savings Account Rates Are Going Up........
6/1/20 - Alliant On-Line Savings Down To 0.90%
5/1/20 - Alliant Savings Drops To 1.20% APY
4/1/20 - Alliant Drops Rates
3/19/20 - Alliant Cuts CD Rates 20 Bps
3/14/20 - Rate Drop And Curve Flattens
2/1/20 - ANOTHER Rate Decrease At Alliant CU!!
1/1/20 - No Rate Changes - So Far - At Alliant CU
12/1/19 - Rate Drop At Alliant
11/1/19 - Yet ANOTHER Rate Cut At Alliant
10/1/19 - Disappointing - Alliant Savings Drops Another 10 Points
9/2/19 - Alliant CU Drops Savings Rate To 1.90%
8/1/19 - Surprisingly, Alliant CU Leaves Savings Rate Unchanged At 2.10%
7/1/19 - Alliant Savings Remains At 2.10% APY
3/29/19 - Alliant CD Rates Down Slightly 3/28/19
2/1/19 - Alliant Rate Up Slightly
1/1/19 - No New Year's Savings Rate Increase At Alliant CU
12/1/18 - Alliant CU Savings FINALLY Back At 2%
11/1/18 - Another Small Rate Increase At Alliant CU
10/1/18 - Another Small Rate Increase From Alliant
9/16/18 - Alliant's 12 Mth CD Now 2.65% APY
9/2/18 - Raise Savings Rate To 1.80%
8/1/18 - Another Small Savings Account Rate Increase From Alliant CU
7/1/18 - Rate Increase On Savings To 1.7% APY on 1 July 2018
6/1/18 - Small Rate Increase At Alliant CU
4/1/18 - Somewhat Disappointing Rate Increase At Alliant CU
3/1/18 - Increase In CD Rates
2/1/18 - Alliant's Savings Rate Now 1.45% APY
2/1/18 - Nice Savings Rate Increase At Alliant CU
12/1/17 - Small Rate Increase At Alliant CU
10/2/17 - Alliant CU Savings APY Up To 1.16%. Quick Look.
7/1/17 - Slight Savings Rate Increase
4/1/17 - Alliant Savings Rate Increase
9/27/16 - Alliant Credit Union Starts Same-Day Incoming ACH
7/17/16 - Alliant Drops 5-Year CD Rate
4/8/16 - Alliant CU Raises Savings Rate .05%
11/1/15 - Alliant Credit Union Savings Rate Bump To 1.00% From 0.95% APY
8/1/15 - Alliant Credit Union Savings Rate Bump
4/6/15 - Certificate Rate Drop
1/30/15 - Alliant Credit Union Savings Account Bump
12/9/14 - Alliant CU Tax Information
11/7/14 - Alliant Checking Rebates Up To $20 Per Month In ATM Fees
10/1/14 - Alliant CU Savings Account Rate Bump
8/27/14 - Alliant Credit Union Transfer Capabilities Are Unavailable
8/15/14 - Alliant Now To Charge For Paper Statements
8/11/14 - Alliant CU Paper Statement Fee Begins 9-30-14
8/1/14 - CD Rate Increases
7/8/14 - Alliant Credit Union, Paper To Estatement $5 Incentive
7/8/14 - Alliant Credit Union $5 Debit Card Reward Offer For July
8/13/13 - National Education Program Computer Gift Card Award
6/6/13 - Alliant FCU Cuts HSA Rates Again -- To Same Level As Normal Savings Rates
4/4/13 - Alliant CU Scheduled Outage Saturday 4-6-13
2/20/13 - Alliant CU Money Transfer Is Down
2/25/12 - Alliant Credit Union New Deposits And Payments Address
1/1/12 - Alliant CU Drops Savings Rate From 1.15% To 1.0%
11/1/11 - Does Alliant Credit Union Waive The Overdraft Fee For The First Time Each Year?
1/25/11 - Alliant CU Downtime 1/28-1/31, May Impact Debit Card Transactions
12/14/10 - Any Online Credit Union Suggestions Open To Anyone To Qualify For Sprint Discount
11/22/10 - Rates Remain The Same
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
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
2/23/10 - Alliant Credit Union Will Keep Its Savings Rate At 2

Decrease In Rates

Following changes to CD Rates. The 12 to 17 month CD had the largest decrease. I am not sure if that was rate related or if they are receiving too much funds.

6 Months 4.89 to 4.75
12 Months 5.40 to 5.15
18 Months 5.00 to 4.90
24 Months 4.40 to 4.30
36 Months 4.30 to 4.20

Response To Pedroo

Posted by: |

Yep. Alliant used to be really good. But then they went all electronic and things went downhill. Still have account there but do most of my financial transactions with Chevron Federal Credit Union now. They are excellent.vAlliant is just a back-up.

Mostly Ok With Some Issues

Their CD rates are reasonable and their Visa rewards is very good at 2.5% on all purchases up to 10K/month.
Their customer service is polite and helpful.
However, their IT department must need some serious help due to the occasionally buggy software.
We had a transfer to an account with a major bank fail due to a bug in Alliant's software. They attempted to transfer the money to an account that had been closed the prior year. How they got that old account number is a mystery since I (proveably) did not provide them with it. They proceeded to charge a penalty for their own error. They did rescind the charge after I showed them proof that the account number used in the transfer was correct, even though they actually tried to send it to an old closed account. Both the receiving bank and Alliant had emails and notifications to me showing the correct account number, yet they somehow tried to send the money to a closed account number.
This sort of system glitch is alarming, especially when we are talking about a financial institution.
I am considering contacting the NCUA to report this error.
Other than the occasional web site issues and this transfer issue, they've been a relatively good financial institution.

Terrible Customer Service!

Posted by: |

I am so sorry I moved my accounts to this bank. They don't do Zelle, they can't get a Cashiers Check right. Nobody seems to know how to do anything correctly! This "bank" is a joke. Moving all my accounts again!



Health Grade Components

NCUA #67955
Year Chartered1935
Primary Regulator
Profit Margin
Return on Assets - YTD0.42%
Return on Equity - YTD1.8%
Annual Interest Income$297.6MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$20.07B$19.02B
LoansQ1 2024vs Q1 2023$14.18B$14.77B
DepositsQ1 2024vs Q1 2023$15.62B$13.98B
Equity CapitalQ1 2024vs Q1 2023$4.45B$4.8B
Loan Loss AllowanceQ1 2024vs Q1 2023$363MM$144.3MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$133MM$76MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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Alliant Credit Union Savings Account Rates

3.10%$100-IRA Savings
3.10%$100-Supplemental Savings
3.10%$100-Kids Savings Account
3.10%$100-High-Rate Savings
3.10%$100-Custodial Savings Account
3.10%$100-Ultimate Opportunity Savings (New Members Only)

Alliant Credit Union Checking Account Rates

0.25%$0-High-Rate Checking
0.25%$0-Teen Checking

Alliant Credit Union CD Rates

5.20%$75k-12 Month Share Jumbo CD
5.15%$1k-12 Month Share CD
5.00%$1k-6 Month Share CD
5.00%$75k-6 Month Share Jumbo CD
4.85%$75k-18 Month Share Jumbo CD
4.80%$1k-18 Month Share CD
4.40%$75k-24 Month Share Jumbo CD
4.30%$1k-24 Month Share CD
4.25%$1k-3 Month Share CD
4.25%$75k-3 Month Share Jumbo CD
4.25%$75k-36 Month Share Jumbo CD
4.15%$1k-36 Month Share CD
4.05%$75k-48 Month Share Jumbo CD
4.05%$75k-60 Month Share Jumbo CD
4.00%$1k-48 Month Share CD
4.00%$1k-60 Month Share CD

Alliant Credit Union IRA Rates

5.20%$75k-12 Month Jumbo IRA
5.15%$1k-12 Month IRA
5.00%$1k-6 Month IRA
5.00%$75k-6 Month Jumbo IRA
4.85%$75k-18 Month Jumbo IRA
4.80%$1k-18 Month IRA
4.40%$75k-24 Month Jumbo IRA
4.30%$1k-24 Month IRA
4.25%$1k-3 Month IRA
4.25%$75k-3 Month Jumbo IRA
4.25%$75k-36 Month Jumbo IRA
4.15%$1k-36 Month IRA
4.05%$75k-48 Month Jumbo IRA
4.05%$75k-60 Month Jumbo IRA
4.00%$1k-48 Month IRA
4.00%$1k-60 Month IRA

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

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