Early Withdrawal Penalty: What You Pay for a CD, 401(k) and More
Best Banks for Small Businesses
What Are the Different Types of Annuities?
What Is a Certified Check?
Update on Alliant Credit Union's Savings Account and CDs
Post a Comment
POSTED
ON BY Ken Tumin
Readers have just reported being told by Alliant Credit Union's CSRs that the savings account yield is scheduled to fall from 3.75% to 3.50% APY for December. I called and confirmed this. It's disappointing, but the 3.50% is still a competitive yield in today's rate environment. Please refer to my previous Alliant CU post for more details of this savings account.
Alliant Credit Union also has made some changes to its certificates. This change actually occurred a couple of months ago. They started offering long-term CDs with terms from 36 to 60 months. These have a yield of 4.50% APY for a minimum deposit of $25,000. The other CDs with terms from 12 to 24 months have remained the same: 3.90% APY for the terms of 12 to 23 months and 4.05% APY for the 24 to 35 months. It would have been nice if this 4.50% APY also applied to these shorter terms. Early this year Alliant Credit Union had been offering 5.40% APY on its CDs with terms of 12 to 24 months.
In addition to competititve savings accounts and CDs, Alliant also offers a 5.15% APY Health Savings Account (HSA). The savings account and CDs with the rates above are also available in a Traditional, Roth, SEP IRA, and Coverdell ESA.
Credit union membership is open to local and national PTA members. There's a $25 membership fee for the National PTA, and it appears to be open to all. Membership in your local PTA may be a lower cost option. Please see the credit union's members eligibility page for more details.
One downside regarding membership is that several readers have reported a hard credit inquiry by Equifax in the application.
Alliant's customer service has impressed many readers. Reports indicate they answer their phones promptly and provide helpful information. They have 24/7 live phone assistance.
Branches are located in Chicago, Des Plaines, and Elk Grove Township, Illinois. There are also branches in Colorado, California and Virginia. The credit union is federally insured by the NCUA (Charter # 67955).
Alliant Credit Union also has made some changes to its certificates. This change actually occurred a couple of months ago. They started offering long-term CDs with terms from 36 to 60 months. These have a yield of 4.50% APY for a minimum deposit of $25,000. The other CDs with terms from 12 to 24 months have remained the same: 3.90% APY for the terms of 12 to 23 months and 4.05% APY for the 24 to 35 months. It would have been nice if this 4.50% APY also applied to these shorter terms. Early this year Alliant Credit Union had been offering 5.40% APY on its CDs with terms of 12 to 24 months.
In addition to competititve savings accounts and CDs, Alliant also offers a 5.15% APY Health Savings Account (HSA). The savings account and CDs with the rates above are also available in a Traditional, Roth, SEP IRA, and Coverdell ESA.
Credit union membership is open to local and national PTA members. There's a $25 membership fee for the National PTA, and it appears to be open to all. Membership in your local PTA may be a lower cost option. Please see the credit union's members eligibility page for more details.
One downside regarding membership is that several readers have reported a hard credit inquiry by Equifax in the application.
Alliant's customer service has impressed many readers. Reports indicate they answer their phones promptly and provide helpful information. They have 24/7 live phone assistance.
Branches are located in Chicago, Des Plaines, and Elk Grove Township, Illinois. There are also branches in Colorado, California and Virginia. The credit union is federally insured by the NCUA (Charter # 67955).
