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4.50% 48-Month CD & 4.25% 36-Month CD at Alliant Credit Union - Nationally Available


Update 1/17/09: The CD rates have fallen. Please refer to the credit union's website for the latest rates.

Alliant Credit Union continues to have competitive rates on its certificates. The rates weren't that great last month, but they're now very competitive, especially the long-term rates: 4.50% APY for 4-years and 4.25% APY for 3 years. Other competitive rates include 3.65% APY for 12 months and 3.80% APY for 24 months. Minimum deposit is $25,000. Rates are 15 basis points lower for a $1,000 minimum. They are also available as IRA certificates. These rates are listed in the credit union's rate table as of 1/12/2009. Unlike the savings account rates, certificate rates have changed before the start of the month, so these may not last much longer.

I just did an Alliant CU post last week that primarily discussed their new 3% checking account. I also discussed their high yield savings account and their high-rate HSA. With their high CD rates holding, I thought it would be useful to highlight these CDs in a new post.

There's an online application that allows online funding, but there's a limit of $10,000 for an ACH deposit. I was told that they have to receive the funds before they will lock in the rates. So if the CD rates drop and they don't have your funds, you may receive the lower rate. If you don't live near a branch, there are a few options you can use. One way is to first transfer the money into your Alliant savings account. You can do this using the ACH or wire transfer service of another bank. You can also FedEx a check if you want overnight delivery service. Make sure to send to their street address since private delivery companies cannot deliver to PO Boxes. Routing number and overnight service address are listed at Alliant's contact page. For other certificate details, please refer to Alliant's Certificates Page.

Credit union membership is open to local and national PTA members. There's a $25 membership fee for the National PTA, and it's open to all. You can find your local PTA here. 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.

Alliant Credit Union has some fair to strong ratings for soundness: 5 stars (superior) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both are based on 9/30/08 data. The credit union is federally insured by the NCUA (Charter # 67955).
Related Pages: CD rates, IRA rates, Alliant Credit Union, Washington, Chicago, Houston, Denver, Los Angeles, San Francisco Bay

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Anonymous   |     |   Comment #1
Last yr I opened CD with credit card - is that still possible. They charged it as a purchase.
Anonymous   |     |   Comment #2
Good credit union. I joined after first joining my local PTA at a cost of just $1! I sent them a donation of five bucks out of gratitude. I am the last of the big time spenders. :-)

Alliant never checked on my PTA membership. Still, it was the right thing to do.
Anonymous   |     |   Comment #3
Alliant's customer service is outstanding.3 times, I've emailed them with questions about my accounts.2 of the 3 times, they emailed back a reply in less than 5 minutes.
Anonymous   |     |   Comment #4
Anonymous, at 9:53 AM, January 12, 2009 - you got me beat at $1! Sad to say, I shopped around to find a non-local PTA to join for $3 - I feel so cheap.....
Anonymous   |     |   Comment #5
To Anonymous, at 8:45 AM, January 12, 2009 - to answer the question you posed you gotta ask your credit card company. It depends totally on them, not on Alliant.
Portia (anonymous)   |     |   Comment #6
I am surmising that Alliant lost a nice chunk of money when they lowered their Savings rate down to 3.25% (and it is reported that they will lower it again, down to 3%).

To make up for this loss, Alliant is offering a nice CD rate and their new 3% checking.
eislamic banking
eislamic banking (anonymous)   |     |   Comment #7
hi I care with your posting
Anonymous   |     |   Comment #8
Alliant is showing a great Health Savings Account rate at 4.0 APY. The best I've seen. Anyone know of a better one?
Vickifool (anonymous)   |     |   Comment #9
Kaiser Permanente health plan members are eligible for membership and they will pay for your $5 share to join! They recently opened an office in Oakland, Ca in the Henry J. Kaiser building.

They told me they update rates at the end of the month.
glxpass (anonymous)   |     |   Comment #10
"Alliant is showing a great Health Savings Account rate at 4.0 APY. The best I've seen. Anyone know of a better one?

By Anonymous, at 8:16 PM, January 12, 2009"

Patelco (www.patelco.com) has a Health Savings Account at 5.12% APY. It's open to all. See the membership eligibility page at:

glxpass (anonymous)   |     |   Comment #11
I see the whole link didn't come out on my previous post. It ends with "eligibility.aspx". Or you can just click on Why Join? from the home page, and then click on the blue-highlighted:

"eligible for Patelco membership", located under "Never a better time".