Alliant Credit Union Review: Perks With Online Banking

If you want to bank with a credit union online, look at Alliant.

Alliant Credit Union is one of the biggest credit unions in the nation, serving more than 385,000 members. Despite its size, however, the institution only has 11 branches, spread out over eight cities in five states. Here are some of the features you can unlock when you bank with Alliant.

Read on to find out more about the best credit unions anyone can join.

Alliant Credit Union Review

Alliant puts its members first, offering financial advice through its Money Mentor blog and providing them with an ATM network it claims is larger than Chase and Bank of America combined.

Alliant Credit Union Membership Eligibility

To become a member of Alliant Credit Union, you must meet one of the following requirements:

  • You are an employee or retiree of select organizations
  • You are a relative of existing Alliant members
  • You are a member of a select organization
  • You live or work in a qualifying community
  • You support the charity Foster Care to Success

Alliant Credit Union Products and Services

Alliant offers its customers a variety of banking products and services including savings and checking accounts, credit cards, several different loans, IRAs and a Coverdell ESA.

Understand: What’s the Difference Between Banks and Credit Unions?

Alliant Credit Union Savings Accounts

You can choose between three savings accounts with Alliant: High-Rate Savings, Supplemental Savings and Kids Savings Accounts. All accounts benefit the customer with 1.70% APY and the ability to waive a monthly fee if they select eStatements, but each is structured based around different financial goals.

The High-Rate Savings account is compatible with Alliant Mobile and online banking, and comes with no balance limit, although there is a $5 initial deposit.

The Supplemental Savings account is geared toward individuals with financial goals in mind. You can open up to 19 Supplemental Savings accounts and give each one a nickname to remind yourself why you’re saving. To take full advantage of the account’s 1.70% APY, you must maintain a daily minimum balance of $100, and keeping the account open requires a minimum balance of $5.

Alliant touts its Kids Saving Accounts as the “perfect savings account for kids 12 and younger.” The account has a joint-ownership with the parents, grandparents or guardian of the child, and Alliant will cover the initial $5 minimum deposit. Once the child turns 13, they’ll be eligible for an Alliant Teen Checking account.

Alliant Credit Union Checking Accounts

Alliant offers two main checking accounts: Free Checking, which has no interest rate, and High-Rate Checking, which comes with 0.65% APY. There is also a Free Teen Checking account for 13- to 17-year-olds.

Alliant Credit Union Checking Accounts
Account NameAPYMonthly FeeFeatures
Free CheckingN/ANoneNo minimum balance requirements; free first box of checks; NCUA-insured to at least $250,000
High-Rate Checking0.65% APYNoneNo minimum balance requirements; ATM rebates of up to $20 a month for out-of-network ATMs
Free Teen Checking0.65% APYNoneGeared toward teens and their parents; no minimum balance requirements; ATM rebates of up to $20 a month for out-of-network ATMs
Rates are accurate as of July 23, 2018.

All checking accounts can be used with Alliant’s online banking and mobile apps. None of them carry a monthly fee, but that is only if you elect to receive eStatements. The accounts are still subject to fees; for example, if you close the account within 90 days of opening it then you will be subject to a fee of $10.

Options: 13 Banks Offering Free Checking With No Minimum Balance

Alliant Credit Union Online and Mobile Banking

Alliant Credit Union online has convenient account management features that you can access from the comfort of your home or when you’re out and about. Advantages include money transfers, online bill pay, eStatements and access to your credit score free of charge. You can access your statement history from up to 18 months ago and manage notifications that alert you to suspicious account activity. As for your credit score, Alliant will update it every quarter. Alliant Credit Union online banking also comes with Alliant’s own Personal Financial Management Tools that assist customers in maintaining budget limits, monitoring spending and showing different ways to achieve financial goals. Furthermore, you can use online banking to locate surcharge-free ATMs, including Alliant-owned ones, Allpoint, Bank of the West and more within a network of 80,000 machines.

The credit union’s mobile app is available for both Android and iOS phones. You can view your balance before logging in, which might save you some banking time. Your phone’s camera allows you to deposit a check via mobile banking by taking a picture of the check. Like online banking, mobile banking allows you to view your transaction history, use personal financial management tools and find surcharge-free ATMs.

Advantages and Disadvantages of Alliant Credit Union

Not every bank or credit union is for everyone, so you’ll want to understand the pros and cons of the financial services in order to pick one that fits your needs.

Advantages:

  • Competitive credit union interest rates with its savings and checking accounts
  • Online and mobile banking maximize convenience
  • Massive ATM network offsets limited branch availability
  • ATM rebates

Disadvantages:

  • Limited membership eligibility
  • Limited Alliant Credit Union locations
  • Though competitive, other institutions offer higher APY on their savings accounts

Worth It? How a Credit Union Membership Could Save You More Money

The Bottom Line on Alliant Credit Union

Alliant Credit Union best serves people who focus on mobile or online banking rather than dealing with the physical hassle of a teller. Its hands-on user experience makes tracking your accounts an immersive experience, especially the ability to set up notifications based on your preference and comfort level.

The key item to remember is that Alliant’s perks only benefit those who meet the union’s conditions. The wide ATM network guarantees convenience for people living beyond an Alliant branch’s proximity, but even so, the ATM rebates that come with the checking accounts provide some financial cushioning for cash-withdrawal emergencies.

For more information, call Alliant at 800-328-1935.

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GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved, or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.