Our take: Alliant Credit Union is a great online credit union for traditional banking services, including checking and savings accounts, for several reasons—its competitive yields, extensive ATM network, and lack of fees, chief among them.
Banking
- High earning potential
- Easy to join
- No monthly or overdraft fees
- Huge ATM network
- Helpful banking features
- Online only
- No Zelle integration in mobile app
- Questionable customer service
| High-yield savings APY | 3.01% |
| High-yield checking APY | 0.25% |
| Fees | No monthly or overdraft fees |
| In-network ATMs | 80,000+ |
| NCUA insurance | $250,000 |
If you’re comfortable doing all your banking online, Alliant Credit Union is a great option for checking and savings, thanks to its competitive rates, National Credit Union Administration (NCUA) insurance, early payday access, 24/7 fraud monitoring, and 80,000+ in-network ATMs.
Here’s a closer look at Alliant’s core products and what we do (or don’t) like about them.
Alliant high-rate savings
The Alliant high-rate savings account is one of the best high-yield savings accounts available across both banks and credit unions, with an extremely competitive APY.
To earn the best rate, you’ll need a minimum balance of $100, which is higher than many competing banks and credit unions. But if you’re choosing a high-yield savings account to earn high interest, chances are good you’re depositing way more than $100 anyway.
Alliant also lets you open up to 19 supplemental savings accounts—all at the same rate—so you can track toward different goals, such as an emergency fund, wedding, house down payment, or vacation.
Alliant high-rate checking
The Alliant high-rate checking account is the perfect companion to Alliant’s high-yield savings offering and one of the best checking accounts currently available. There are no monthly fees and no overdraft fees, and, most importantly, the account earns 0.25% APY. Most checking accounts earn no interest or a nominal 0.01% APY, so this is a huge differentiator.
Alliant has one of the most extensive ATM networks in the country, with more than 80,000 fee-free in-network options. And if you can’t find an ATM in-network, you can use out-of-network ATMs confidently: Alliant offers up to $20 a month in out-of-network ATM fee rebates, in the event you’re charged.
Alliant also offers early access to your paycheck (up to two days) when you get paid with direct deposit. While nice, this has become a standard feature among most online checking accounts.
Jumbo savings
One of Alliant Credit Union’s newest offerings is its jumbo savings account, for balances of $100,000 or greater. If you keep that much in savings, you’ll earn 3.35% APY, rather than the standard 3.01%.
That’s still not enough to make Alliant competitive with some of the highest-paying savings accounts, but given Alliant’s extensive ATM network, high-yield checking, and lack of fees, the credit union offers one of the most well-rounded banking experiences—and it’s still well worth considering.
As with most banks and credit unions, your deposits are only insured up to $250,000. If you keep more money in your jumbo savings, be aware of the risk.
Kids savings
Teaching your kids about money management is important. While you can easily do that at a big bank with a physical location you can visit together, your kid’s savings account will likely earn a measly 0.01%.
Given that today’s digital-first children will likely gravitate toward online banking by the time they reach adulthood, it could make more sense to get them started with an online banking experience now instead.
And Alliant makes a compelling case: Kids earn just as much as adults, with 3.01% APY on deposits. However, as with adult accounts, kids will need $100 or more in the account, which could be a barrier without birthday money from Grandma and Grandma or some savings generated from their weekly allowance.
This account is designed for kids 12 and under, and parents or guardians (joint owners) can easily transfer funds in and out of the account.
Teen checking
Teens can also take advantage of Alliant’s high-interest checking account, with specific guardrails designed for younger consumers, including parental monitoring.
As with the kids’ savings account, parents can transfer money in and out of the teen checking account. And as a next step to learning about money management, teens will get a tap-to-pay debit card; parents can set daily debit card limits to keep spending in check.
This account is bundled with the Alliant high-rate savings account so teens can focus not just on spending, but saving, too.
Alliant certificates
Alliant offers several high-yield certificates of deposit (CDs) at various term lengths and APYs. These rates are very competitive, and there are options for both small deposits ($1,000+) and jumbo deposits ($75,000+).
The table below summarizes current terms, APYs, and dividend rates:
| Term | APY | Dividend Rate |
| 3 – 60 months | 3.10% – 3.65% | 3.06% – 3.59% |
| 3 – 60 months jumbo | 3.10% – 3.70% | 3.06% – 3.64% |
Other Alliant Credit Union products
While our Alliant Credit Union banking review is focused solely on deposit accounts (checking, savings, and CDs), it’s worth noting that you can get a full suite of banking products and services through Alliant. Our review and rating do not apply to these additional products, but here’s a quick look at what you can get:
- Two Visa credit cards (one standard and one cash-back)
- Alliant vehicle loans, including cars, RVs, and specialty Tesla loans
- Alliant mortgages
- Alliant home equity lines of credit
- Alliant personal loans
- Alliant retirement and investment options
How to join Alliant Credit Union
Credit unions are slightly harder to join than banks. Often, community and regional credit unions only allow you to join if you live in a certain neighborhood, work for a specific employer, belong to a specific organization, or serve in the military.
Alliant Credit Union has similar requirements, with a caveat. You’re eligible to join Alliant if:
- You work for or retired from an employer partnered with Alliant.
- You’re an immediate family member or domestic partner of someone who already banks with Alliant.
- You live or work in an eligible community near Chicago, where Alliant is headquartered.
And the caveat? You can still join if you don’t meet any of these requirements. As long as you’re a U.S. citizen or have a Social Security number, you can simply select “Join Alliant Credit Union Foundation” when signing up, and Alliant will pay a one-time $5 fee on your behalf, and voila—you can join!
Alliant Credit Union online banking pros and cons
As our top pick for online credit unions, banking with Alliant has a lot of advantages, but there are drawbacks to consider as well.
Pros
-
High earning potential
While the savings account doesn’t have the highest APY available, it’s significantly higher than you’ll find at big banks. The high-rate checking account earns a super competitive rate.
-
Easy to join
Unlike some other credit unions, anyone can join Alliant Credit Union—and Alliant will pay the $5 fee on your behalf if applying by joining the foundation.
-
No monthly or overdraft fees
Unlike many brick-and-mortar banks and credit unions, Alliant doesn’t charge any monthly fees or overdraft fees.
-
Huge ATM network
Alliant has one of the biggest networks of fee-free ATMs (80,000+). Even if you can’t find an in-network ATM, Alliant refunds out-of-network ATM fees up to $20 each month.
-
Helpful banking features
Alliant lets you open supplemental savings accounts to better organize your savings, and you can also access your paycheck up to two days early if you set up direct deposit. The mobile app is easy to use and offers several convenient ways to manage your money from the comfort of your home.
Cons
-
Online only
You can’t get in-person help to open, manage, or close an account. Everything is done online or over the phone.
-
No Zelle integration in mobile app
Some banks and credit unions have Zelle, a peer-to-peer payment system, built directly into their banking app for more secure transactions. Alliant doesn’t currently offer Zelle, but you can connect your account to other payment apps, like Venmo or Cash App, as needed.
-
Questionable customer service
Some customers have raised concerns about customer service on review sites like Trustpilot and the Better Business Bureau (BBB). Most criticism is around Alliant’s loans and credit cards; customers seem more satisfied with the core banking products (checking and savings accounts).
Alternatives to Alliant Credit Union banking
savings apy
3.01%
3.30%
3.80%
checking apy
0.25%
0.50%
Checking not offered
fees
No monthly or overdraft fees
No monthly or overdraft fees
No monthly fees
Recap: Alliant Credit Union online banking review
Article sources
At LendEDU, our writers and editors rely on primary sources, such as government data and websites, industry reports and whitepapers, and interviews with experts and company representatives. We also reference reputable company websites and research from established publishers. This approach allows us to produce content that is accurate, unbiased, and supported by reliable evidence. Read more about our editorial standards.
Related articles
About our contributors
-
Written by Timothy Moore, CFEI®Timothy Moore is a Certified Financial Education Instructor (CFEI®) specializing in bank accounts, student loans, taxes, and insurance. His passion is helping readers navigate life on a tight budget.
-
Edited by Amanda HankelAmanda Hankel is a managing editor at LendEDU. She has more than seven years of experience covering various finance-related topics and has worked for more than 15 years overall in writing, editing, and publishing.