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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.
As an account holder, you’ll have access to Alliant’s mobile app and online platform. With either platform, you can:
Beyond Certificates, Alliant offers other traditional banking products, including:
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.
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.
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.
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.
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.
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.
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).
