Alliant Credit Union Review: Checking, Savings and CDs
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Overall bank rating
at Alliant Credit Union, Federally insured by the NCUA
Savings
Checking
CD rates
Banking experience
Overdraft fees
4.5
The bottom line:
Many credit unions offer better interest rates than banks do, but they also may have narrow membership requirements and less polished technology. But Alliant Credit Union combines the best of both worlds with broad membership criteria and strong rates, plus a good tech experience.
Best for: Consumers who want high-yield checking and saving rates and a large ATM network.
Pros
- More than 80,000 free ATMs.
- Interest rates on checking and savings are well above average.
- No overdraft fees.
Cons
- No branches.
Full review
Alliant Credit Union Ultimate Opportunity Savings Account
5.0
NerdWallet ratingAPY
0.55%
With $100 minimum balance
Bonus
$100
Requirements to qualify
Alliant's Ultimate Opportunity Savings Account earns an above-average rate and doesn’t charge a monthly fee if you select e-statements. Alliant also lets members open as many as 19 separate, supplemental accounts — each with its own nickname — and provides a special savings account for parents who want to teach kids about money management.
» Want to see more options? Check out NerdWallet’s best savings accounts
at Alliant Credit Union, Federally insured by the NCUA
4.5
NerdWallet ratingat Alliant Credit Union, Federally insured by the NCUA
Monthly Fee
$0
APY
0.25%
With $0 minimum balance
Alliant offers teen and high-rate checking accounts, neither of which charges a monthly fee. Qualify for High-Rate Checking's APY by enrolling in free e-statements and receiving at least one electronic deposit per month. The account also offers up to $20 per month in reimbursements for out-of-network ATM fees.
Alliant Credit Union CD
4.5
NerdWallet rating1-year APY
0.55%
3-year APY
0.60%
5-year APY
0.65%
Minimum Deposit
$1,000
Alliant's share certificates come with above-average rates, but opening one does require some cash: You’ll need a $1,000 minimum opening deposit. APYs range from 0.55% to 0.65%; longer terms and larger balances earn higher yields. Compare Alliant's share certificates to other financial institutions' with our CD comparison tool.
» Looking for top options? Check out our list of the highest CD rates
Banking experience
4.5
NerdWallet ratingAlliant's rates are commendable, but its inclusion is really impressive. Other credit unions restrict membership to people who work for certain companies or live in specific communities. With Alliant, you can apply for membership after making a one-time $5 donation to a nonprofit that supports foster children. Alliant will even pay the donation on your behalf.
Of course, Alliant has some flaws. Unlike nearly 2,000 credit unions, it doesn't participate in shared branching, and is completely online. But it does offer a solid online banking platform and a highly rated mobile app, and customer support is available via Twitter and 24/7 by phone.
Members have access to online bill pay and can check their credit scores for free.
Overdraft fees
5.0
NerdWallet ratingAlliant announced in August 2021 that it is eliminating overdraft fees. The credit union is currently refunding fees for overdraft transfers and nonsufficient funds but will eventually stop charging these fees. Other banks and credit unions charge an overdraft fee of around $35, up to several times per day.
Alliant Credit Union Ultimate Opportunity Savings Account
5.0
NerdWallet ratingAPY
0.55%
With $100 minimum balance
Bonus
$100
Requirements to qualify
Alliant's Ultimate Opportunity Savings Account earns an above-average rate and doesn’t charge a monthly fee if you select e-statements. Alliant also lets members open as many as 19 separate, supplemental accounts — each with its own nickname — and provides a special savings account for parents who want to teach kids about money management.
» Want to see more options? Check out NerdWallet’s best savings accounts
at Alliant Credit Union, Federally insured by the NCUA
4.5
NerdWallet ratingat Alliant Credit Union, Federally insured by the NCUA
Monthly Fee
$0
APY
0.25%
With $0 minimum balance
Alliant offers teen and high-rate checking accounts, neither of which charges a monthly fee. Qualify for High-Rate Checking's APY by enrolling in free e-statements and receiving at least one electronic deposit per month. The account also offers up to $20 per month in reimbursements for out-of-network ATM fees.
Alliant Credit Union CD
4.5
NerdWallet rating1-year APY
0.55%
3-year APY
0.60%
5-year APY
0.65%
Minimum Deposit
$1,000
Alliant's share certificates come with above-average rates, but opening one does require some cash: You’ll need a $1,000 minimum opening deposit. APYs range from 0.55% to 0.65%; longer terms and larger balances earn higher yields. Compare Alliant's share certificates to other financial institutions' with our CD comparison tool.
» Looking for top options? Check out our list of the highest CD rates
4.5
NerdWallet ratingAlliant's rates are commendable, but its inclusion is really impressive. Other credit unions restrict membership to people who work for certain companies or live in specific communities. With Alliant, you can apply for membership after making a one-time $5 donation to a nonprofit that supports foster children. Alliant will even pay the donation on your behalf.
Of course, Alliant has some flaws. Unlike nearly 2,000 credit unions, it doesn't participate in shared branching, and is completely online. But it does offer a solid online banking platform and a highly rated mobile app, and customer support is available via Twitter and 24/7 by phone.
Members have access to online bill pay and can check their credit scores for free.
5.0
NerdWallet ratingAlliant announced in August 2021 that it is eliminating overdraft fees. The credit union is currently refunding fees for overdraft transfers and nonsufficient funds but will eventually stop charging these fees. Other banks and credit unions charge an overdraft fee of around $35, up to several times per day.
How does Alliant Credit Union compare?
Member FDIC | Federally insured by the NCUA | |
|---|---|---|
APY0.50% With $0 minimum balance | APY0.40% With $0 minimum balance | APY0.55% With $100 minimum balance |
BonusN/A | BonusN/A | BonusN/A |
RATING METHODOLOGY
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
