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Alliant Credit Union CD Review

Reviews 47
Alliant Credit Union Certificate
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Alliant Credit Union Certificate
Alliant Credit Union Certificate
Poor
Reviews 47
Sean Lapointe
Dec. 07, 2023
4 min read
LaPointe
Alliant Credit Union Certificate Summary
Founded in 1935, Alliant is one of the largest credit unions in the US. It offers an attractive range of Certificates to help you maximize your savings. Alliant’s certificates, which require a minimum deposit of $1,000, feature some of the most competitive annual percentage yields (APYs) in the market, with rates as high as 5.35%. Alliant offers flexible terms of 12-60 months to cater to different savings strategies and timelines.

Pros

  • Competitive APYs
  • Flexible maturity options
  • No fees

Cons

  • Minimum deposit required
  • Withdrawal penalties

Alliant Credit Union Certificate at a glance

9.8
Editorial score

Fees?

None
10.0

Security

NCUA-insured; SSL-encrypted account
10.0

Customer service

24/7 support via phone and live chat. No dedicated fraud team, but support is available via Alliant’s regular customer service number
9.0

Online experience

User-friendly website with full banking capabilities, easy membership application and account sign-up, rates and services that are transparent before applying
10.0

Mobile experience

For iOS and Android. Includes account balances, mobile check deposits, and online transfers
10.0

Alliant Credit Union Certificate Alliant Credit Union Certificate Visit Site

Advantages Over Traditional Banks

Unlike traditional banks that aim to generate profits for shareholders, credit unions like Alliant are nonprofit entities that primarily work to serve their members’ interests. This working structure usually results in more competitive rates and fewer (or no) customer fees.

For example, Alliant offers APYs of up to 5.35% on its Certificates—a significantly higher return than that of a standard savings account or even a certificate of deposit (CD) at most traditional banks.

Furthermore, most traditional banks often charge various fees, including monthly maintenance fees, which can eat into your savings. With Alliant Credit Union, there are no such charges to worry about.

Cutting-Edge Banking Services

As an account holder, you’ll have access to Alliant’s mobile app and online platform. With either platform, you can:

  • Check your account balance
  • Transfer funds between your Alliant accounts or from an Alliant account to an external one
  • Schedule and pay bills with Bill Pay
  • Manage your credit and debit cards
  • Deposit checks
  • Budget (through third-party personal financial management tools like Mint and Quicken WebConnect, which you can easily integrate into your Alliant app)
  • Find a nearby ATM

Traditional Banking Services

Beyond Certificates, Alliant offers other traditional banking products, including:

  • Checking and savings accounts
  • Credit cards
  • Personal loans
  • Auto loans
  • Mortgages
  • Individual retirement accounts (IRAs)
  • Insurance (life, home, and auto)

Like most traditional banks, Alliant ensures quick availability of funds you deposit into your accounts. For example, all funds from ACH direct deposits, domestic wire transfers received by 4pm CT and all international wire transfers received by 1pm CT are available the same day.

Moreover, Alliant boasts an expansive network of over 80,000 fee-free ATMs nationwide, ensuring convenient access to your funds wherever you are.

Interest Rates

Alliant offers two types of Certificates: regular and jumbo. Both are available in terms of 12-60 months.

Regular certificates require a minimum deposit of $1,000, while jumbo certificates require a minimum of $75,000. The latter have slightly higher APYs, however. 

Here’s a breakdown of each certificate’s APY by maturity period.

Maturity Period

Regular Certificate APY

Jumbo Certificate APY

12 months

5.25%

5.30%

18 months

5.30%

5.35%

24 months

4.45%

4.55%

36 months

4.45%

4.55%

48 months

4.30%

4.35%

60 months

4.30%

4.40%

If you withdraw funds from your jumbo certificate and your remaining balance ends up being less than $75,000, the jumbo certificate will automatically convert into a regular one.

There are no monthly maintenance fees associated with Alliant’s Certificates. However, you’ll incur an early withdrawal penalty if you take out funds before the end of the maturity period. The amount of the penalty depends on the terms of your certificate and the timing of the withdrawal.

Term

Penalty

17 months or fewer

Up to 90 days of dividends

18-23 months

Up to 120 days of dividends

24-48 or 60 months

Up to 180 days of dividends

During the 7-day grace period of new accounts

7 days (will be applied from the principal balance)

There are some exceptions to the early withdrawal penalties, however. For instance, the credit union won’t charge a penalty if you transfer funds from your Certificate to an Alliant Retirement & Investment Services account.  

Alliant also offers a unique dividend withdrawal option that lets you receive the interest earned each month instead of it being auto-deposited back into your certificate. 

Customer Service and Online Experience

Alliant provides 24/7 phone and live chat support. For the latter, you don’t need to sign up or log into your account first to speak with a customer representative. 

You can also reach Alliant through the Contact Us form on its website.

The site is a rich resource for information, too. It features comprehensive FAQs, guides, and blog articles to educate and empower you to make informed financial decisions.

Online reviews suggest mixed experiences with Alliant’s customer service. Some users report experiencing slow response times and challenges getting issues resolved, while others praise the support staff’s helpfulness and expertise.

Since Alliant is a digital-only credit union, you can access and manage your Alliant Certificate account (plus any other accounts you hold with the credit union) anytime from anywhere.

Overall, its online platform offers a great user experience. Applying for membership and a Certificate account (or any other account or product) is relatively straightforward. You can learn more about the union’s eligibility requirements on its website.

With the Better Business Bureau (BBB), Alliant earned accreditation in 2004 and currently holds an A+ rating.

However, the company has low customer review scores of 1.02/5 and 1.6/5 on the BBB and Trustpilot, respectively. That said, Alliant has followed up on many complaints on the BBB—typically soon after customers lodged their initial complaints.

Mobile App

Alliant has a highly-rated mobile app available for download on iOS and Android devices.

The app features all essential banking functions, including checking account balances, transferring funds, and making mobile check deposits. 

This comprehensive functionality—plus the app’s clean and intuitive interface—provides an easy way for you to manage your Certificates and any other accounts you have with Alliant.

Security

Alliant’s Certificates, along with all other deposit accounts, enjoy federal insurance from the National Credit Union Administration (NCUA) for up to $250,000 per member.

Alliant employs advanced security protocols for its online and mobile platforms, including Secure Sockets Layer (SSL) encryption. This technology secures all data and information you send to the credit union via the internet so malicious third parties can’t intercept it.

The Alliant mobile app includes biometric authentication options such as fingerprint scanning and facial recognition, which add a layer of security and reduce the risk of unauthorized access to your account.

For even more account protection, Alliant offers two-factor authentication. This requires a second form of verification, such as a text message or email code, in addition to the usual password to access your account.

Alliant also continuously monitors your account for suspicious activity or transactions. It will alert you of unusual activity and offer support in the case of suspected fraud.

Finally, Alliant follows a strict data policy informed by federal regulations and financial industry best practices. For more on how the company collects, uses, and protects your information, refer to the detailed privacy policy statement on its website.

Summary

Alliance Credit Union’s Certificates offer an appealing blend of competitive APYs, flexible terms, and member-focused services.

With yields of up to 5.35%, its certificates are a good choice for anyone seeking a savings tool with higher-than-average returns. What’s more, Alliant boasts federal insurance from the NCUA and doesn’t charge any monthly service fees.

Signing up for an account is easy, and Alliant’s dedicated customer service team is available 24/7 if you need assistance.

Methodology

The information used to create this review was gathered from Alliant Credit Union’s website and reviews on Trustpilot and the Better Business Bureau (BBB).

LaPointe
Written by
Sean Lapointe
Sean LaPointe is a freelance personal finance writer with a passion for helping readers make informed financial decisions. With over 8 years of personal finance writing experience, Sean has written for a wide variety of top publications, including The Motley Fool, Angi, Top10.com, and BestMoney. Sean’s commitment to providing readers with the most up-to-date information means he’s always researching the latest financial products.
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Trustpilot reviews
See what some customers are saying about Alliant Credit Union Certificate
Bad • Reviews 47
on
Excellent
9%
Great
0%
Average
2%
Poor
6%
Bad
83%
We upload 100 to 400 Trustpilot reviews to our website daily, displaying them by default from "best" to "worst". You have the option to adjust the sorting criteria. If you wish to see all reviews, you can visit Trustpilot's website here.
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JH
Josiah Hildebrandt
11 months ago
No Issues. Great Customer Service
I had a savings account with Alliant for a few months because of a bonus and high interest rate. I never had any issues during that time, but I didn't do a lot. Just got off the phone with customer service to close my account today because I have switched to a different bank. The customer service agent I spoke to was extremely helpful and polite. The whole process took 5-10 minutes and was very pleasant.
MB
Marc Benesis
1 year ago
Good Service
I've used Alliant since 1997. Always gave me great service.
Al
Alex
2 years ago
I've been extremely happy with Alliant
I've been extremely happy with Alliant. I came over from ETrade when they got bought out by Morgan Stanley and I am constantly surprised with how good they've been. They don't charge me for overdrafts, I get high-yield savings rates in my regular savings account, their app is great, and when I called to get help with something today, I was off the phone in under (literally) 2.5 minutes. Any other bank I've used charges tons of fees and takes over 30 minutes to talk to a human. I can't recommend Alliant enough!
Skip
3 years ago
Really easy to work with credit union
Really easy to work with credit union. Have signed up with them for years, and they are just so much more enjoyable to use than the regular big banks which do not care at all about their customers.
Ro
Ro
2 months ago
Great rates, but...
I follow Suze Orman’s podcast and decided to open an Alliant Credit Union account based on her heavy promotion of the products. However, I did wait on doing so for the current promotion because of the negative customer service reviews I’d read. I bit the bullet and started the process December 22, 2023. The first CD ‘application’ went off without a hitch; money transferred in from an external instantly. When I tried to open a second CD account and fund savings, the system told me I had to conduct an external account verification – even though they had already transferred in from the very same account minutes before without such ‘verification’. Okay, I get it. There was time in the ‘1-2 business day’ time frame for all to take place. Well, now we’re getting into the holiday weekend so nothing is going to happen until Tuesday, December 26, 2023. Still good. HOWEVER, come December 26th my money is on a “General Hold” even though Alliant has marked the money “received” and my external account has been debited! It is now January 2, 2024 and my money is still on ‘hold’, even though it obviously cleared on 12/28/2023 according to my Alliant account details. I messaged about this contradiction but have not received a satisfactory response. This has been the gist of many of the reviews I’ve read – that Alliant holds members’ money for inordinate periods of time. I have yet to get a straight answer to my inquiry. My money was finally made ‘available’ on January 3, 2024 so I could open a second certificate and schedule funding of a savings account because I want the ROI. When these instruments mature, I do not intend to stay with Alliant. Conclusion: In an article published on July 12, 2023 by bankrate.com, Alliant is the 7th largest credit union in the US based on 800K members and assets of $19B. Alliant gets high ratings by institutions for their products and rates/dividends, however customers tell a different story according to a number of review websites. As of right now I am inclined to agree with reviews – great rates, poor customer service. Ultimately, it’s how people are treated that creates loyalty to any institution. High rates do not last; relationships do. Recommended if all one wants is high return. If one is looking for service or a warm fuzzy feeling, not recommended.
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