Updated 3/25/2020

Alliant Credit Union

Alliant Credit Union has had quite competitive CD rates for a number of years now. They are quite popular on the internet because of the high interest rates plus their membership is open to all through a donation to Support Foster Care to Success (if you don’t qualify otherwise). I believe they have two draw backs. The first is their online application. At least 50% of the people I know have failed when trying to complete it. The process uses a service to serve up five questions from your credit report. Some of the questions are purposely presented to trip you up. If you aren’t able to complete the online process, you can still open an account through the mail, but that of course takes time and in a falling rate environment such as we’ve had for the last 3-years, time is no friend.

The other draw back is they don’t give you any grace with the rates. If you are sending a check in the mail and rates drop, you lose out. Of course if we were in a rising rate environment, that could work to your advantage.

Once a member they seem to have good customer service, but I have found them not to be very helpful during the set-up process. That is why I recommend going through the process even if you don’t have the funds. I made the same recommendation for Pentagon FCU.

Their Bauer Rating is 5-stars. Deposit Accounts.com gives them an “A” rating. And you are of course federally protected by the NCUA up to $250,000.00

cd :O)

-- By Chris Duncan

Posted in Bank Reviews