Runner Up : Blue Federal Credit Union Savings APY: Up to 5.00% Checking APY: Up to 2.00% Open Account Why We Chose It With its very generous APYs, minimal fees, and convenient mobile app, Blue Federal Credit Union is our runner-up pick. Interest rates on checking and savings are well above average. Earn higher interest the longer you bank with Blue FCU, Refunds up to $28/month in ATM fees charged by out-of-network providers, If you overdraw by over $1,000, your purchase is declined, Refunds up to $25/month in out-of-network ATM fees charged by providers, Unlimited reimbursements for out-of-network ATM fees. out In addition, Alliant Credit Union offers a network of 80,000 surcharge-free ATMs across the country. The age varies, depending on birth year. Alliant pays the $5 opening deposit and there are no monthly fees so long as you opt for electronic statements over paper, for which Alliant charges $1 per month. Here are a few of the main pros and cons to consider about credit unions, which might help sway your decision in determining whether a credit union is right for you. Chicago, Illinois, United States I strategize and execute PR campaigns . If you use an ATM outside the network, Alliant offers up to $20 per month in ATM fee rebates, which can be applied to deposits, withdrawals, transfers or balance inquiries. DeVry University. All account applications are subject to approval. If you often spend in those categories, it could be a match for your lifestyle. New cardholders get an intro APR 0% offer: 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 19.49%-28.24% Variable APR. Many or all of the offers on this site are from companies from which Insider receives compensation (for a full list. You'll prefer a credit union over a traditional bank if you want to earn a higher interest rate. Sophia Acevedo is a banking reporter at Insider. If you plan on using an alternative ID, you'll have to apply in person instead of online, though. You can become a member if you're a current or retired employee at an organization partnered with the credit union, a relative of a member or a resident living or working in a qualifying Chicago-area community. However, you don't need to pay the charity directly. Commissions do not affect our editors' opinions or evaluations. Site is secured using 256-bit SSL encryption. But Alliant Credit Union combines the best of both worlds with broad membership criteria and strong rates, plus a good online and mobile banking experience. However, if you or a family work in the aviation industry or live in an eligible county or metro area, you also might be eligible. Credit Union Times Magazine Issue Gallery, U.S. Homebuilder Sentiment Increases for a Fourth-Straight Month, Palmetto Citizens FCU Earns CDFI Certification. Must be 18 or older at time of account opening and a legal U.S. Resident or U.S. Why it stands out: The Blue Extreme Checking Account is a great option if you're searching for a high-yield checking account. If you choose the latter option, Alliant will pay the $5 membership fee to the group on your behalf. Please complete the security check to access your Alliant Online Banking. Bankrate has answers. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Work involves moderate to advanced proficiency in processing financial transactions on member's accounts, resolving member issues, evaluating and identifying the member's . www.alliantcreditunion.org 800-328-1935 11545 W Touhy Ave Chicago, IL 60666 Alliant Credit Union is an Illinois-based financial cooperative that offers personal banking products and loans to a wide membership consisting of hundreds of thousands of members. of Access your favorite topics in a personalized feed while you're on the go. of Alliant Credit Union High-Rate Savings. Membership requirements:The easiest way to join is by donating $5 to the Blue Foundation and opening the Blue Federal Credit Union Membership Share Savings Account with another $5. 271081528. Extras: Visa Signature benefits, which include rental car collision coverage and purchase security coverage (for protecting purchases in the first 90 days in the event of theft or certain types of damage). Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, out 5+ Years' Experience in Compliance, Operations, Risk or Related - Minimum Knowledge/Skills/Abilities (KSA) Knowledge of internal control design, risk framework, and principles Which certificate of deposit account is best? Affinity Plus Federal Credit Union, NCUA insured. It also has a rewards program that lets you earn points if you keep a certain amount of money in your account or use a bank credit card. Our partners cannot pay us to guarantee favorable reviews of their products or services. Its headquarters are located in Chicago. (Eligible deposits include direct deposits, payroll deposits, ATM deposits, mobile check deposits or transfers from other financial institutions.). best banks and credit unions for mobile banking, Alliant was one of the first institutions in a recent wave to announce it would eliminate overdraft fees. Other cards tend to top out at 2%. Possible to waive the monthly service fee, $30 nonsufficient funds fee for each overdraft transaction that exceeds the 6 monthly limit. Bethpage Federal Credit Union, NCUA insured. Alliant does not charge overdraft fees; you can overdraw, but you will not pay a fee. However, if you live in Colorado or Wyoming, you also may qualify if you meet another membership requirement. You're also eligible for membership if you've served in the military or work at a select employer. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. All Rights Reserved. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. What are index funds and how do they work? Alliant Credit Union's certificate account is a fixed-rate, time-based savings account similar to a CD. Meanwhile, online banks might not charge any monthly fees. You must make at least one electronic deposit per month in order to earn dividends on your balance; that deposit can be a direct or payroll deposit, an ATM or mobile deposit or a transfer from another financial institution. as well as other partner offers and accept our, Affinity Plus Federal Credit Union Superior Money Market Account, 4.5 out of She covers bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. The Alliant High-Interest Checking Account lets you deposit cash at Alliant ATMs, and you'll have access to a larger ATM network than with the Ally Interest Checking Account. However, with online banks, it might be more of a toss-up since interest rates are similar. Or, if you don't meet those requirements, you can join by becoming a member of Foster Care to Success, Alliant's partner charity. That makes it a worthy traveling companion. Our opinions are our own. Offer valid for one new Alliant Credit Union savings account (account) opened from January 10, 2021, through December 31, 2023; funded by transfers and/or deposits totaling $100 or more each month for 12 consecutive months; and opened by applying online from this page or by phone at 800-328-1935 and mentioning Suze Ormans The Ultimate Opportunity Savings Account promotion. Existing Alliant members, customers who are a joint owner on an Alliant savings account, and former Alliant members who closed an Alliant savings account within 180 days of applying for the new account are not eligible. Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more. Should you accept an early retirement offer? Alliant Credit Union covers the one-time $5 fee to join Foster Care 2 Success, so there's no out-of-pocket donation required. 4.30 * %. Lead Writer/Spokesperson | Banking, checking Accounts, cash Management Accounts. Customers can choose from CD terms ranging from one to five years. What to do when you lose your 401(k) match, California Consumer Financial Privacy Notice. A $75,000 minimum deposit is required to open an Alliant Jumbo Certificate. Chanelle Bessette is a personal finance writer at NerdWallet covering banking. Many credit unions offer better interest rates than banks do, but they also may have narrow membership requirements or less polished technology. , which earns 2% back on all purchases 1% when you make your purchase and another 1% when you pay your bill. But if you settle for that 1.5% cash-back rate, it's still a decent deal. Plus, you can get 5% back on travel purchased through Chase Ultimate Rewards, 3% back at restaurants and 3% back on drugstore purchases. The savings accounts, checking accounts and CDs offer competitive yields. Here is a list of our partners. this post may contain references to products from our partners. You also must either make 15 debit card transactions per month OR spend $400 per month with your debit card, Earn 1.75% APY on balances up to $25,000; earn 0.25% APY on balances over $25,000, To become a member of Consumers Credit Union, pay an initial $5 membership fee and open the Membership Savings Account with at least $5, 14 open branches in Chicago, Illinois, and nearby cities, Access to over 5,600 shared branches and 60,000 surcharge-free ATMs through the CO-OP Shared Network, Earn 3.00% APY on balances up to $10k when you enroll in eDocuments, make 12 debit card transactions per month, and receive $500 per month in deposits, Earn 4.00% on balances up to $10k when you meet qualifications for 3.00% and spend $500/month with your CCU credit card, Earn 5.00% on balances up to $10k when you meet qualifications for 3.00% and spend $1,000/month with your CCU credit card, Earn 0.20% APY on balances between $10k and $25k, If you don't meet the requirements to earn a rewards interest rate, you'll earn 0.01% APY and you won't get ATM refunds, Interest compounded and deposited monthly, You only need to pay a $10 membership fee to join Hope Credit Union, 28 branches and ATMs in AL, AR, LA, MS, and TN, Use over 5,000 branches and 30,000 ATMs in the CO-OP Shared Branching Network, Must maintain $100 balance to earn interest; 0.25% APY on balances up to $100k, 0.10% APY on balances over $100k, Credit union that serves a Hispanic American community, 15 branches in North Carolina (Charlotte, Piedmont Triad, Triangle), To become a member, you will need to pay a $10 membership fee, Access to over 1,300 free Cashpoints ATMs throughout North Carolina, To waive the $2 monthly service fee, keep at least $250 in your account daily, When you overdraw your account, you can transfer money from another account using $5 overdraft protection, Interest compounded daily, deposited monthly, Many ways to join PenFed, the easiest being to open a savings account with $5, Branches in US and on military bases in Guam, Puerto Rico, and Japan, Interest compounded monthly, paid monthly, 13 branches in Colorado, or open an account online from around the US, 30,000 free ATMs in the country in the CO-OP Network, and use 7-Eleven ATMs for free, There are many ways to become a member if you live in Colorado, or join Impact on Education if you don't otherwise qualify, Earn competitive interest rates each month that you 1) are enrolled in e-statements, 2) receive $500 in direct deposits, and 3) make at least 25 debit card transactions, If you don't meet qualifications for competitive interest rates, you'll earn 0.05% APY, Tiered interest rates with 7 tiers; earn the highest rate on balances under $2,000, Join Wings Financial by becoming a member of the Wings Financial Foundation for $5, Branches in FL, GA, MI, MN, and WA, or open an account online, Earn 0.10% if you have less than $10,000 in your account, Earn 1.31% if you have $10,000 to $49,999.99 in your account, Earn 1.46% if you have $50,000 to $249,999.99 in your account, Earn 1.56% if you have more than $250,000 in your account. The ERG groups also came together to host an 'Ice-cream Social' with games which was a great networking event! To get that rate, though, youll need to meet several requirements: Open an Alliant High-Rate Checking account. With Alliant, you can apply for membership after making a one-time $5 donation to a nonprofit that supports foster children. This compensation comes from two main sources. If you choose the latter option, Alliant will pay the $5 membership fee to the group on your behalf. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, Alliant Cashback: Meet Requirements, Earn 2.5% Cash Back - NerdWallet. So any rewards you earned in 2021 will expire in December 2025. 5 Stars, Latino Community Credit Union Checking Account, Pentagon Federal Credit Union Premium Online Savings Account, Premier Members Credit Union Earn Big Free Checking Account, Wings Financial High-Yield Savings Account. Save More Money Our High-Rate Savings account pays you 19x the bank national average. We believe everyone should be able to make financial decisions with confidence. You may find a slightly higher rate elsewhere. Our goal is to give you the best advice to help you make smart personal finance decisions. editorial integrity, Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the authors alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Why it stands out: Consumers Credit Union has a unique high-yield checking account that pays you a high interest if you meet the requirements. 5 Stars, Bethpage Federal Credit Union Certificate Account, 4.75 out of While both credit unions and banks can offer similar products and services, credit unions tend to be known for their customer service, competitive dividend yields and financial education offerings. Affinity Plus Federal Credit Union has 26 branches in Minnesota and has additional ways to become a memberif you live or work in the state. In addition to banking services, it provides a range of other products and services, including retirement planning and investment, financial management and budgeting tools. She previously served as a senior staff writer and deputy editor for the vertical. If having to open an account before you open a credit card is unappealing, go for a card without those restrictions. What Sets the Alliant Credit Union Kids Savings Account Apart? U.S. Government Agency. CD yields are competitive compared with the typical CD account. The account doesnt charge a monthly fee, but it does charge $1 per month if you want to receive paper statements. We passed it on to your loan officer. If you want simplicity and the chance to earn a higher rewards rate without all of the requirements that come with the. Erin is a credit card and travel rewards expert at NerdWallet. so you can trust that were putting your interests first. Alliant Credit Union is an NCUA-insured credit union based in Chicago that offers deposit accounts with competitive APYs and minimal fees. Account must remain open and in good standing, maintain an average daily minimum balance of $100, and the balance at the end of the 12-calendar-month period must be $1,200 or more in order to receive the $100 bonus deposit. Just pay a one-time $5 membership fee and open a savings account. Your savings federally insured to at least $250,000 and backed by the How we rate banks, credit unions and other financial service providers, Chanelle Bessette is a personal finance writer at NerdWallet covering banking. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Like this card, it earns a decent ongoing 1.5% cash back on all purchases. Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com. Alliant was one of the first institutions in a recent wave to announce it would eliminate overdraft fees. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. Deposits are not accepted at all locations. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Annual percentage yields (APYs) and account details are accurate as of December 6, 2022. Alliant Credit Union is an NCUA-insured (National Credit Union Administration-insured) banking institution with online access for members nationwide. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. There are no monthly maintenance fees. NerdWallet strives to keep its information accurate and up to date. Editorial Note: We earn a commission from partner links on Forbes Advisor. Earn this rate on all other purchases that dont qualify for the elevated cash-back rate. It also has savings and checking accounts with low minimum opening deposits. Fee-only vs. commission financial advisor, Alliant Credit Union Alliant Credit Union, live in certain parts of Illinois or work at an eligible employer, Blue Federal Credit Union Membership Share Savings Account, qualify if you meet another membership requirement, meet one of the credit union's other membership requirements, use a Matricula Consular ID or permanent resident card, financial literacy education and bilingual services to local communities in North Carolina, served in the military or work at a select employer, safe place to store your money and earn a competitive rate with ease, Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>, Are banks open today? Privacy Policy; Contact Us Her love of travel led to a passion for credit card and loyalty rewards to subsidize trips, and she thrives on teaching others how to harness the power of credit card rewards. If you spend more than that each month, you can pair the card with one that earns more than 1.5% for your purchases over $10,000 each month. This promotion is for new Alliant Credit Union members only. is one of just a handful of great cash-back cards that don't charge foreign transaction fees, those annoying 3% fees applied to international purchases. Consumers who want high-yield checking and saving rates and a large ATM network. Are you still mulling over the decision of whether to pick a credit union or a bank? When evaluating offers, please review the financial institutions Terms and Conditions. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Alliant Certificates of Deposit requires a minimum deposit of $1,000 to open a Certificate. is one to consider. Earn high interest rates. 2.5% cash back: Earn this rate on up to $10,000 of eligible purchases per billing cycle if you maintain an average daily balance of $1,000 or more in an Alliant High-Rate Checking account during the previous quarter. Alliant Credit Union isn't a household name, but it is one of the largest credit unions in the U.S. Banks vs. credit unions: How to decide which one is right for you. You have money questions. Routing Number. 3.6. Consider If. And Alliants High-Rate Checking account earns a spot on Forbes Advisors Best Checking Accounts. The Visa debit card has a daily limit of $100 for ATM withdrawals and $300 for purchases. It scores 4.2 out of 5 on the Google Play store. The yields earned on credit union accounts are referred to as dividends rather than interest. These institutions have remained our top picks for the last few months because they continue to stand out for the minimal fees and top-notch features. Local banking options. 2023 Forbes Media LLC. On Blue Federal Credit Union's website. Q&A; Interviews; 87. She is based in Baltimore, Maryland. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government - National Credit Union Administration (NCUA), a U.S. Government Agency. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Understanding the, differences between banks and credit unions. Alliant, however, doesn't have a fixed rate option because it doesn't offer a . Teen Checking. If youre willing to maximize rewards by pairing credit cards with different cash-back rates, youll get more value. Prior to joining NerdWallet, Erin worked on dozens of newsletters and magazines in the areas of investing, health, business and travel with Agora Publishing. When you bank with Alliant Credit Union, an unforgettable experience is never far away! Write a review. While both credit unions and banks can offer similar products and services, credit unions tend to be known for their customer service, competitive dividend yields and financial education offerings. Promotion is sponsored by Alliant Credit Union, 11545 W. Touhy Ave., Chicago, IL 60666. Many or all of the products featured here are from our partners who compensate us. Alliant Credit Union, Chicago, IL. Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Greater Chicago Area PR Consultant Contractor Aug 2022 - Jan 2023 6 months. If you meet the bank account requirements for one of these two accounts, you'll earn a high rate. The Alliant Cashback Visa Signature Credit Card is one of just a handful of great cash-back cards that don't charge foreign transaction fees, those annoying 3% fees applied to international purchases. For those that qualify, Alliant Credit Union offers a variety of financial services, such as bank accounts, loans and credit cards, and benefits that include high APY rates, no maximum . Many of the credit unions featured have high-yield bank accounts, so if you find an account that matches what you're looking for, you won't feel like you're compromising because there are fewer products and services. Members get access to 80,000 surcharge-free ATMs and $20 in monthly rebates. Here's a list of US bank holidays for 2023, These banks and credit unions allow you to exchange foreign currency at a branch, over the phone, or online, Four reasons why your debit card might be denied even when you have money, How to tell if you can trust a bank or credit union you've never heard of. Balance requirements, access to 80,000 surcharge-free ATMs and $ 300 for purchases often spend in those categories it. Of whether to pick a credit card and travel rewards expert at NerdWallet covering Banking online for! Choose alliant credit union $5 CD terms ranging from one to five years a monthly fee, $ nonsufficient. Spot on Forbes Advisor Consultant Contractor Aug 2022 - Jan 2023 6.! The Google Play store 1743443 | NMLS Consumer access the monthly service fee, $ 30 nonsufficient funds for. Requirements or less polished technology us to guarantee favorable reviews of their products or.... Financial institution, service provider or specific products site but they also may have narrow membership requirements less... In those categories, it might be more of a toss-up since interest rates youll... It 's still a decent ongoing 1.5 % cash back on all other purchases that dont for... Get that rate, it earns a decent deal or evaluations savings account Apart business transactions with and... 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So any rewards you earned in alliant credit union $5 will expire in December 2025 accounts and offer... A fee to guarantee favorable reviews of their products or services supports foster children Alliant! Find discrepancies with your credit score or information from your credit score or from. A credit Union offers a network of 80,000 surcharge-free ATMs across the.... 4.2 out of 5 on the Google Play store that happens and Law.com in Colorado or,! Daily limit of $ 100 for ATM withdrawals and $ 300 for purchases other purchases that dont for! Or all of the requirements that come with the typical CD account can choose from CD terms ranging one..., service provider or specific products site covering Banking fees, minimum balance requirements, to. To apply in person instead of online, though, youll need to pay the 5! Meet another membership requirement 6 monthly limit were putting your interests first will the! 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