Whether you're a seasoned investor or just starting to build your nest egg, Alliant Credit Union's Certificate of Deposits (CDs) can help maximize your savings.
Earn up to 5.40% APY and watch your money grow faster than ever, all while enjoying the safety and security of a federally insured credit union that opens its membership to people across the United States.
Alliant offers a range of CD options including regular and jumbo CDs, as well as Roth IRA, SEP IRA and traditional IRA CDs. This review will specifically concentrate on its regular Certificates.
Alliant Credit Union CD Rates for 2024
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CD Terms
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APY
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Alliant 3 Month CD
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Alliant 1 Year CD
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Alliant 18 Month CD
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Alliant 2 Year CD
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Alliant 5 Year CD
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Alliant Credit Union CD Rates for 2024
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CD Terms
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APY
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Alliant 3 Month CD
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Alliant 1 Year CD
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Alliant 18 Month CD
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Alliant 2 Year CD
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Alliant 5 Year CD
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How Alliant Credit Union's Certificates Work
Minimum deposit for share certificate. Members of Alliant Credit Union can open a regular Certificate with a minimum deposit of $1,000.
Compounding schedule. Dividends compound monthly over the term of the Certificate. However, customers have the flexibility to withdraw dividends throughout the term without penalty, but it's essential to note that this may impact your overall yield.
Early withdrawal penalties. Early withdrawal fees apply if you access your principal before maturity, potentially costing you up to 180 days' dividends, depending on your terms:
- Terms of 17 months or less – Interest for the number of days the certificate is open, up to 90 days
- Terms of 18-23 months – Interest for the number of days the certificate is open, up to 120 days
- Terms of 24-48 or 60 months – interest for the number of days the certificate is open, up to 180 days
- During 7-day grace period for new certificates
- No penalty for withdrawing monthly dividends
Customers can opt for automatic renewal upon maturity or choose to have funds transferred.
In the event you haven't selected your preferences before the term concludes, a 10-day grace period is provided after maturity. During this period, you have the option to either renew your certificate as is, opt for a different type or term of renewal, or transfer funds to another account.
Alliant ensures that you stay informed by sending a timely reminder about your Certificate's expiration 15 days in advance.s
How Alliant Credit Union CDs Compare
CD rates can change at anytime. With that in mind, Alliant Credit Union’s Certificate rates well outpace the national averages according to the FDIC.
Alliant’s rates are comparable to the best CD rates that are typically offered by online-only banks. Plus, Alliant's early withdrawal penalties are far more lenient when compared to other credit unions.
Alliant Credit Union CD vs. Consumers Credit Union CD
Both Alliant Credit Union and Consumers Credit Union have standard certificates and jumbo certificates. However, at Consumers Credit Union you'll need a minimum deposit of $100,000 to earn 5.10% APY on a 10-month CD; while at Alliant Credit Union you'll only need a $1,000 minimum deposit to earn 5.15% APY on a 12-month CD.
Alliant may be a better choice if you're searching for a high rate CD that requires less of a minimum deposit.
Pros and Cons of Alliant Certificates
Pros
- High CD rates
- Offers various types of CDs
- Certificates have a dividend withdrawal option
- Good range of CD terms
- Membership open across the U.S.
- NCUA insurance of up to $250,000 per depositor
Cons
- Certificate minimum deposit is $1,000
- Does not offer a No-Penalty CD
About Alliant Credit Union
Alliant stands as one of the most prominent credit unions in the United States, catering to a varied and expanding community of members.
As a digital credit union headquartered in Chicago, IL, Alliant serves customers across the country offering a full banking relationship with products like certificates of deposit, savings and checking accounts, loans, insurance and investments.
To join Alliant Credit Union and open an account, you must fit into one of these qualifying groups:
- Current or retired employees of an Alliant partner business or organization
- Domestic partners or immediate family members of current Alliant members
- Employees or residents in qualifying Chicago communities near Alliant’s headquarters
- Members of Foster Care to Success (FC2S) – Anyone can become a member of FC2S, and Alliant will pay the one-time $5 membership fee on your behalf if you plan to join this way.
Final takeaway
Alliant Credit Union's Certificates prove to be an ideal choice for individuals with a minimum of $1,000 to invest, seeking to secure a competitive rate on their funds.
With term lengths spanning from three months to five years, these Certificates offer a diverse range of options, catering to various timelines and financial preferences.
