Alliant Credit Union has established itself as a prominent player in the digital banking space since its founding in 1935. Based in Chicago, this credit union stands out for its competitive rates on certificates of deposit (CDs) and higher-than-average rates on fee-free checking and savings accounts. In 2020, Alliant made a significant transition by going fully digital, eliminating physical branches while maintaining robust online services. This review examines Alliant Credit Union’s background, membership eligibility, top banking products, and security measures to help you decide if this digital credit union fits your financial needs.
What is Alliant Credit Union?
Alliant Credit Union is a member-owned financial cooperative that offers a range of banking products and services. Unlike traditional banks that operate for profit, credit unions like Alliant function as not-for-profit organizations, often resulting in better rates and fewer fees for members. As a fully digital credit union, Alliant provides services exclusively through online and mobile banking platforms, supported by 24/7 customer service via phone.
The credit union’s digital focus doesn’t limit accessibility – members can access their accounts through the highly-rated mobile app (well-reviewed by both iOS and Android users) and use a network of over 80,000 surcharge-free ATMs nationwide. Additionally, High-Rate Checking account holders receive ATM fee rebates, further expanding their access to cash withdrawals.
Who Can Join Alliant Credit Union?
Alliant Credit Union has broad membership eligibility requirements, making it accessible to many people. You qualify for membership if you meet any of the following criteria:
- You are currently employed by or retired from one of Alliant’s many partner businesses and organizations in the United States
- You are an immediate family member or domestic partner of a current Alliant member
- You live or work in one of the eligible communities near Alliant’s Chicago headquarters
- You become an Alliant Credit Union Foundation digital inclusion advocate (Alliant makes a one-time $5 contribution to the Foundation on your behalf)
Non-U.S. residents can also join Alliant if they have either a Social Security number or an unexpired Individual Taxpayer Identification Number (ITIN).
Importantly, there are no membership fees to join Alliant Credit Union. When you open an account, the credit union maintains a complimentary $5 deposit in your savings account to establish your membership.
Top Banking Products at Alliant Credit Union
High-Rate Checking Account
Alliant’s High-Rate Checking account offers significant benefits for everyday banking without the burden of common fees. This account comes with a high-rate savings account, opened with a complimentary $5 deposit from Alliant.
Key Features:
- No monthly service fees or overdraft fees
- No monthly minimum balance requirements
- Earns interest rates higher than many traditional bank savings accounts when qualifications are met
- $20 per month in ATM fee rebates
- Access to 80,000+ fee-free ATMs nationwide
- Free Visa contactless debit card with tap-to-pay functionality
- Early Payday feature allows you to receive direct deposits up to two days early
- Initial deposit requirement of just $25
Additional Benefits:
- Free overdraft protection transfers from your savings account
- Courtesy Pay service covers transactions when your account lacks sufficient funds (eligibility factors apply)
- Account alerts via text message, email, or mobile app
- Debit card management tools through online and mobile banking
- Mobile check deposit capability
Alliant Credit Union
High-Rate Savings Account
The High-Rate Savings account from Alliant offers rates that are approximately 15 times the national bank average, making it an excellent option for building your savings quickly.
Key Features:
- Competitive interest rate of 3.10% APY (as of May 2025)
- No monthly fee when you opt for electronic statements
- No maximum balance limit for earning the top rate
- Minimum $100 daily average balance required to earn interest
- Only $25 initial deposit needed to open (plus Alliant’s complimentary $5 deposit)
- Access to 80,000+ fee-free ATMs nationwide
Additional Benefits:
- Option to open up to 19 supplemental savings accounts with the same rate and features
- Easy transfers between Alliant accounts and external accounts
- Mobile check deposit through the Alliant mobile app
- Federally insured funds up to $250,000 through the NCUA
Alliant Credit Union
Alliant Certificates (CDs)
Alliant offers certificates (similar to bank CDs) that provide a secure investment option with fixed rates and terms.
Key Features:
- Low minimum deposit of only $1,000 with no maximum limit
- Jumbo Certificates available for deposits of $75,000 or more, potentially offering higher rates
- Multiple term options: 3, 6, 12, 18, 24, 36, 48, or 60 months
- Dividends compounded monthly and at maturity
- NCUA insurance up to $250,000
Sample Rates and Earnings on $1,000 Deposit (as of May 2025):
| Term | APY | Earnings |
|---|---|---|
| 3-month | 3.10% | $7.66 |
| 6-month | 4.10% | $20.29 |
| 12-month | 4.00% | $39.99 |
| 18-month | 3.80% | $57.53 |
| 24-month | 3.70% | $75.38 |
| 36-month | 3.65% | $113.53 |
| 48-month | 3.65% | $154.17 |
| 60-month | 3.65% | $196.30 |
Certificates also offer a Dividend Withdrawal option that allows you to receive monthly interest payments instead of compounding interest, though this reduces overall earnings.
Alliant Credit Union
Alliant Credit Union Fee
While Alliant prides itself on a minimal fee structure, some services do incur charges. Here’s a breakdown of the most common fees as of May 2025:
| Service | Fee |
|---|---|
| Account Maintenance/Research | FREE |
| ACH (initiated via Online Banking) | FREE |
| ATM Transactions | FREE (with rebates up to $20/month for checking accounts) |
| First Box of Checks | FREE |
| Garnishments/Levies/Citations | $29 |
| Courtesy Pay | FREE |
| Debit Card Foreign Transaction Fee | 1% |
| Deposit of Check Drawn on Non-U.S. Bank | $35 |
| Document Copy | FREE |
| Dormant Account (savings only) | $10 |
| Inactive Account (savings only) | $10 |
| Non-Sufficient Funds (NSF) Item | FREE |
| Paper Account Statement (savings only) | FREE |
| Replace Lost Debit or Savings ATM Card | FREE |
| Return Deposit Item | FREE |
| Stop Payment | FREE |
| Wire Transfer (incoming) | FREE |
| Domestic Wire Transfer (outgoing) | $25 |
| Foreign Wire Transfer (outgoing) | $50 |
Security Measures at Alliant Credit Union
Alliant Credit Union implements comprehensive security protocols to protect members’ accounts and personal information:
Fraud Monitoring
Alliant uses advanced fraud monitoring tools that continuously scan accounts for suspicious transactions and activity. If unusual purchasing patterns or locations are detected, transactions may be denied or held until verified as legitimate. Members are encouraged to notify Alliant of travel plans through the Travel Notification feature in mobile or online banking.
Secure Technologies
The credit union employs multiple security technologies to protect members:
- Website, mobile app, and digital channels use secure protocols for data transmission
- Device verification system identifies when accounts are accessed from unauthorized equipment
- EMV smart chips in all Visa credit and debit cards
- Contactless technology in debit cards for added protection against fraud
- Support for mobile payment technologies (Apple Pay, Google Pay, Samsung Pay) which use tokenization for enhanced security
Federal Insurance Protection
All Alliant deposit accounts are insured by the National Credit Union Administration (NCUA) up to $250,000, providing the same level of protection as FDIC insurance for bank accounts.
Data Privacy Safeguards
Alliant maintains physical, electronic, and procedural privacy measures that comply with federal regulations and industry best practices. Their privacy policy details how they protect members’ personal information.
Security Education
Alliant provides educational resources about fraud prevention and security through their Money Mentor blog, helping members stay informed about protecting their identity and financial assets.
The Digital Banking Experience
Since Alliant operates without physical branches, its digital services are central to the member experience. The credit union offers:
- 24/7 customer support via phone (800-328-1935)
- Secure messaging through the mobile app and online banking
- Highly-rated mobile banking app for iOS and Android
- Online banking platform with comprehensive account management features
- Mobile check deposit capability
- Extensive ATM network with 80,000+ surcharge-free machines
For cash transactions, members can use Alliant’s network of ATMs, with checking account holders receiving rebates for out-of-network ATM fees up to $20 per month.
Conclusion
Alliant Credit Union offers an attractive package for those comfortable with digital banking. With competitive rates on savings products, minimal fees, and extensive online services, it presents a strong alternative to traditional banks. The High-Rate Checking and Savings accounts provide excellent value for everyday banking needs, while Certificates offer secure options for longer-term savings goals.
The credit union’s broad membership eligibility makes it accessible to many, and its strong security measures help protect members’ finances in the digital environment. Though the lack of physical branches may be a limitation for some, Alliant compensates with 24/7 customer support, an extensive ATM network, and well-designed digital banking tools.
For individuals seeking competitive rates, fewer fees, and the convenience of digital banking, Alliant Credit Union merits serious consideration. Its member-focused approach, combined with modern banking capabilities, makes it a worthy option in today’s financial landscape.
