bank rates

Alliant Boosts National Savings, CD Rates

Alliant Credit Union is sounding a positive note for savers everywhere who’ve been watching deposit rates stagnate and Treasury rates plunge since year’s end.

The giant Chicago-based credit union has bumped the rate it pays on savings accounts from 0.80% APY to 0.90% APY and increased the yield on most CDs by as much as two-tenths of a point.

New Alliant Credit Union CD Rates

Length of Term Regular CD with $1,000 minimum deposit
Jumbo CD with $25,000 minimum deposit
12 to 23 months 1.00% APY 1.10% APY
24 to 35 months 1.15% APY 1.20% APY
36 to 47 months 1.35% APY 1.40% APY
48 to 60 months 2.10% APY 2.15% APY

The new savings account rate is still below those being offered by our top-paying banks, and none of the CD rates equals or beats the top nationally available returns on our CD Rates Leaderboard.

Nevertheless, all of Alliant’s current rates are competitive, and the increases represent a welcome step in the direction we all want rates to go – up.

The 2.15% APY you can earn on a 48-month jumbo certificate of deposit appears to be the most attractive CD rate. It compares favorably with the 2.25% APY available on the top nationally available 60-month CDs on our Leaderboard.

It looks even better when compared with the Leaderboard’s top 36-month rate of a mere 1.50% APY.

(The 48-month jumbo rate lags, however, the 2.35% APY still being offered by NASA Federal Credit Union on its nationally available 49-month CD.)

Alliant permits anyone to join who first becomes a member of Foster Care to Success, which assists foster teenagers “aging out” of the system, for just $10.

Membership is also open to savers in certain Chicago-area communities or associated with one of the companies or organizations affiliated with the credit union.

A new member must open a savings account with a $5 minimum deposit. A daily average savings account balance of $100 is required to earn interest.

Members can open savings, CD and other accounts online, over the phone, through the mail or in person at branches in Illinois, as well as California, Colorado, New Jersey, Texas and Virginia.

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