Alliant Credit Union $100 Savings Bonus Available Throughout 2022

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Deal Summary: $100 bonus when depositing at least $100 a month for 12 consecutive months in a new The Ultimate Opportunity Savings Account, available through December 31, 2022.

Availability: Easy membership requirement

Happy New Year! Hopefully, this year will bring higher savings account rates. Until that occurs, new account bonuses can help make up for the low rates. On that note, there is some good news. The Ultimate Opportunity Savings Account $100 bonus offered by Illinois-based Alliant Credit Union (Alliant) has been renewed, with a new end-date of December 31, 2022. There is one new addition to the fine print on the landing page:

This promotion is for new Alliant Credit Union members only. Alliant members can only receive this payout bonus one time.

Previously, only existing/former Alliant members who had closed an Alliant savings account within 180 days of applying for the new account were excluded from applying for the $100 bonus.

Last January I wrote, “In the past, I wouldn’t have paid much attention to a $100 bonus, but bonuses are more attractive now that rates on liquid accounts and CDs are so low.” As the year progressed with rates trending downward, this bonus became more competitive with each passing month.

According to the landing page, there’s only one requirement to earn the bonus.

Deposit at least $100 a month—for 12 consecutive months—into The Ultimate Opportunity Savings Account. Not only will you earn the current interest rate of 0.55% APY, but after those 12 consecutive months, you’ll also get a $100 bonus!

The Alliant savings account has a long history of competitive rates. The Alliant savings account rate was above the average rate for online savings accounts for all of 2021.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.60%$100-Alliant Credit UnionHigh-Rate Savings
Rates as of May 18, 2022.

According to the fine print on the landing page,

The first $100 must be transferred and/or deposited within 30 days of account opening, and each calendar month after the first $100 transfer/deposit, funds need to post to the account by the last day of the month.

Account must remain open and in good standing, maintain an average daily minimum balance of $100, and the balance at the end of the 12-calendar-month period must be $1,200 or more in order to receive the $100 bonus deposit.

Accounts will be reviewed 12 months from the date of the first transfer/deposit to determine eligibility. If all requirements have been met after 12 months, please allow 4 weeks for the $100 bonus deposit to post to your account.

Limit one offer per new Alliant member.

Must be 18 or older at time of account opening and a legal U.S. Resident or U.S. Person (including a U.S. Resident Alien) to be eligible.

Beneficiaries

Alliant members can add beneficiaries through the Alliant Online Banking platform. Alliant’s website also has a Beneficiary Add/Delete Form, which

will supersede any previous beneficiary designation you may have on record with Alliant and any accommodations you have made in your Will for the disposition of your Alliant accounts.

Beneficiaries may be an individual or a Trust.

Up to five beneficiaries can be added/deleted per each individual form. The completed form can be returned in-person, by mail, or by fax.

Trusts

Alliant also provides detailed information on its website concerning just about everything you need to know about Trusts, including exactly what documentation is required to open a living trust with Alliant.

ACH Tranfers

More than six years ago, Alliant began offering same-day funds availability for incoming ACH transfer that have been initiated from other financial institutions. According to Alliant’s Money Transfer FAQs,

With same-day ACH, all ACH transfers sent from your originating financial institution by 1:45pm CT will post by 5:00pm the same day!

The limit for same-day ACH transfers is $25,000 per day. This is the same limit that Alliant has for all ACH transfers.

Same-day outbound ACH transactions are still not available, even though the FAQs state,

Although we are not offering outbound same day ACH now, we are working on systems enhancements to enable us to offer this service.

Availability

Headquartered in Chicago, Alliant Credit Union’s field of membership (FOM) provides a way for almost any U.S. citizen/resident alien to join.

Easy Membership: Any member of Foster Care to Success (FCS), regardless of residency or employment status, is eligible for membership. According to an Alliant representative, “Alliant will make a $5 support payment to FCS on the applicant’s behalf,” with Alliant's online application providing a link to FCS to facilitate joining.

Residency: Individuals who live or work in 20 Chicagoland communities are eligible to join.

Employment: Employees and retirees of hundreds of Qualifying Companies (including O’Hare International Airport) also qualify.

Affiliation: Members of 38 different organizations are also eligible for membership.

Relationship: Anyone related by blood or law, or a domestic partner of a current Alliant member are welcome to apply.

Complete details about joining Alliant can be found on the Join Us page.

Joining Alliant and applying for the $100 bonus can be done online or by calling 800.328.1935 and mentioning the “Suze Orman’s The Ultimate Opportunity Savings Account promotion.”

Alliant participates in the CO-OP ATM network, but not the Shared Branch network.

Credit Union Overview

Alliant Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.44% (excellent), based on September 30, 2021 data. In the past year, Alliant has increased its total non-brokered deposits by $1.49 billion, an excellent annual growth rate of 13.81%. Please refer to our financial overview of Alliant Credit Union (NCUA Charter # 67955) for more details.

Ten years after United Airlines was founded, a small group of the company’s employees came together to organize a credit union in October 1935. At the end of the first year, the newly established United Airlines Employees’ Credit Union had 146 members and $5,088 in assets. The FOM was opened to organizations outside the airline industry in 2003, and since that time, Alliant has grown to become the ninth largest credit union in the country, with more than 631,000 members and assets in excess of $14.6 billion.

Bottom Line

This is a relatively easy bonus that doesn’t require too much time or effort, particularly if you set up a monthly automatic deposit. To quote the landing page once again,

To earn $100 in interest in one 12-month period at the 0.55% annual percentage yield (APY) compounding monthly, member would need to have $18,170 on deposit for 12 months.

The Ultimate Opportunity Savings Account’s 0.55% APY is actually higher than the current average rate (0.456% APY) for online savings accounts and higher than the current national average rate (0.124% APY) for savings accounts.

If you don’t qualify for The Ultimate Opportunity Savings Account promotion, check out DA’s extensive list of the best savings and checking account bonus offers.

The above information and rates are accurate as of 1/3/2022.

Related Pages: Chicago savings accounts, savings accounts, nationwide deals, bank bonuses

Comments
NYCDoug
  |     |   Comment #1
FYI, some data points . . .

I opened my account with a $5 credit card payment approximately one year ago, and subsequently made twelve automated deposits of $100 each on the 22nd of each month, beginning with January 2021, and ending on December 22, 2021. My $100 bonus posted promptly -- less than two weeks later -- at the end of last year: on 12/31/21.

Good deal!
(Save for the fact that I was budgeting for that extra $100 of taxable interest to hit in 2022.)

Later today I will transfer out the bulk of my current balance ($1,308.20) to a higher rate money market account at another FI, but I plan to leave their minimum $5 there as a placeholder (at zero interest) in case Alliant's rates become more compelling in coming months. (Or their competitors head further south -- hope not!)

From Alliant's website: "The minimum balance to keep your savings account open is $5. To earn interest, you must maintain a daily average minimum balance of $100."
Rickny
  |     |   Comment #2
I hope some new non direct deposit offers come out for checking accounts in 2022. Savings account and credit card bonuses too. I took advantage of several last year ranging from $100 to $900 at Wells Fargo last year.
Rosedala
  |     |   Comment #11
Hi Rickny, $900 is terrific! Was it a bonus or cashback, etc.? I too just opened a checking acct. at WF: $200 bonus! Then I spent (which I had to anyway haha!) $1,000 and promptly got another $200 bonus. Well...minus the IRS' (obligated) lion's share, lol! Nevertheless, it gives you that nice feeling of having "tricked" the contenders in their own contests tehehe...
planxy
  |     |   Comment #3
I have "belonged" here for years. NEVER have I gotten any kind of "bonus." Loyalty rewarded by it refusing to allow me this kind of account. Like the cable/internet companies/SiriusXM tantalizing specials which are not granted to those supporting  operations. I will be out of there when my 3% CD expires.
Rosedala
  |     |   Comment #13
planxy, great idea to leave them and TELL THEM WHY in a first class letter - the phone even emails...are gone with the wind. The same with your cable/internet. In the good old times loyalty played a most important place even in money matters. Nowadays "loyalty" is not in anybody's vocabulary anymore. So go from bank to bank, cable/internet, etc. and stay with the highest offers...then leave for the next ones. This is what I'm doing with Wells Fargo from whom I got Twice, in a month or so, $200 bonuses. So now...I'll have SS redirect my DD from WF to Chase Bank for a $225 bonus (I just hope SS will allow to change a DD so soon? I'll have to call and find out). I hope they do allow it as I'm looking for a go-to checking account bank because after over 20 years with TD Bank (yes, me too) it has become most difficult to do business with them especially where they have so many site glitches yet they denied help in the bank to fill out the application. Anyway good luck to you in finding better bonuses/interests! :)
PatGeneric
  |     |   Comment #4
I've always appreciated this credit union. Been a member a long time and will continue to be, based on their fair rates and quality services. I don't feel slighted at all that the perks are offered to new customers only. Incentives help them attract new customers; good business practices should keep them there as customers. They can't give away toasters to everybody. I'm OK with that.
111
  |     |   Comment #5
I've been a customer of Alliant for many years, and generally have been satisfied. Their Customer Service is not quite what it used to be, but then, whose is? If I took the attitude of disliking them because in certain promotions they denigrate existing customers to the benefit of new customers, well, then to be logically consistent I'd have to take the same attitude with all FIs who did the same. Since so many do, I'd have a lot of “denigration” to worry over.

In particular I appreciate their 2.5% cashback VISA card - it has a couple of requirements, but easily met via automation. Wish they had higher transfer limits, but one can't have everything.
Rickny
  |     |   Comment #6
1111 The 2.5% on the 1st 10k is nice. Does the deposit requirement for the required checking account be satisfied with an ACH transfer? If they give a I'll give it try.
Rickny
  |     |   Comment #7
Sorry for the grammar, couldn't edit.

Can the required direct deposits be ACH transfers?

If they give a bonus I may get the card.
111
  |     |   Comment #8
"Can the required direct deposits be ACH transfers?" Yes, they can. At least one deposit/month required, can be any amount. ACH-pushes from another FI definitely work, don't know whether ACH-pulls to Alliant would work. An additional requirement is that average monthly balance in the associated Alliant checking account be at least $1K - but at least it pays some interest. Don't know whether they offer signup bonuses these days - they may have taken the position that the extra half a percent cashback (over the several 2% cards out there) means they don't have to.
Rickny
  |     |   Comment #9
Thanks The 10k limit and the $1000 checking requirement makes this a no go for me.
111
  |     |   Comment #10
Alliant does pay cashback above the $10K limit - but only 1.5%. And it's true that some of the 2% cards have no limit on cashback.
Rickny
  |     |   Comment #12
I should have specific about the 2% up to 10k and 1.5% above that. The 10k limit for the 2% is my deal killer along with the requirement of a checking account and deposits.

I have 3% back unlimited for on line purchases with my Bank of America. Try to do most shopping with this card including store pickup.

Where I can't do online purchases have Citibank with 2% no limits. Got a $200 bonus last year too.

We completed bonus requirements for PSECU and Wells for $300 and $200 bonuses respectively. The PSECU paid 1.5% and Wells 2% respectively. No longer use these cards.

Use Amex for 3% groceries.

Chase 3% reward on restaurants and drug stores. Got $200 bonus on this card too.

5% discount at Target and Lowe's with their charge cards.

5% discount on gas with grandfathered Penfed card.
111
  |     |   Comment #14
"I have 3% back unlimited for on line purchases with my Bank of America." Is this for ANY online purchase? I've got a couple BoA cards from previous bonuses collecting dust these days - maybe I should see if they'll switch one of them to that one you're using.
Rickny
  |     |   Comment #15
I stand corrected on the BOA card. The 3% is limited to $2500 per quarter. I believe it was unlimited but changed. The card is Customized Cash Rewards card.
Hooked
  |     |   Comment #16
Speaking of the BOA Customized Cash Rewards card, I was offered to switch it to their Unlimited Cash card several months ago for a $200 bonus ($1k spend). Did it for the bonus and switched back to the BOA Customized Cash Rewards card recently (mainly for the 3% online purchase category). Wouldn’t have known about the back/forth switch had I not learned it from another blog.
Rickny
  |     |   Comment #17
The BOA account is under wife's name. She gets some nice offers to open a checking account but they require a direct deposit.

We opened a lot of charge cards to get bonuses last year so wary on opening a new accounts. Didn't hit my credit score hard. My score changes weekly in a range from 807 -815. Wife has an 850 score that never moves. Scores are from Experian directly.

We have to be careful with our credit as we are looking to move to NC triangle area.
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Availability: Easy membership requirement

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