The Alliant Credit Union does something unusual these days, they increased their cd rates on all tiers. The 12-month to 4-year current interest rates is now very attractive as money in the bank deals.

The following figures are the top cd rates offered for balances of at least $25,000:

2.30% APY 12 to 17 months
2.40% APY 18 to 23 months
2.55% APY 24 to 35 months
3.00% APY 36 to 47 months
3.25% APY 48 to 60 months

They also offer the highest cd rates which are lower by fifteen basis points for certificates of deposits with a balance of at least $1,000. These CDs can also be availed as Roth IRA, SEP IRA, Traditinal IRA, and Coverdell ESA.

The interest rates that we have here are accurate as of 24 September. Remember that these figures may change anytime. It will be best to check out their website for any update. All earnings of the account are credited on a monthly basis.

Members can open a certificate of deposit account by calling their customer service line, dropping by a branch, sending an application via post, or through online banking. You need to be a member of the credit union to open an account and must at least have a $5 share savings deposit.

This certificate of deposit deal does not permit any partial withdrawals. In case you had to pull out some money early, you will have to pay 90 days of interest for CD with terms of 12-17 months; 3 months of earnings for 18-23 months; and 6 months of your yield for CD with terms 24 months or more. You are give a 10 day grace period upon maturity of the account to decide whether you want to renew or withdraw your money in the bank.

Funding the CD

If you are planning to fund your certificate of deposit via ACH transfer from another financial institution, you have a transfer limit of $10,000. In case you are a bit far from a branch of the credit union, you can also use some options to fund your account. You can wire or ACH transfer the funds to your credit union savings account. You can also send a check via overnight courier like FedEx. Remember to deliver the check to their physical address and not their PO Box.

Membership to Alliant Credit Union

The credit union accepts membership applications from members of the national and local PTA. If you are planning to sign up for the National PTA, you just need to pay $25 of membership fee and they pretty much accept everyone. Entry fee to a local PTA may be a lot cheaper.

Some members reported a hard credit pull being done during application through a credit bureau like Equifax.

The Alliant Credit Union has several offices in Illinois. They have branches in Chicago, Elk Grove Township, and Des Plaines. They also have offices in California, Colorado, and Virginia. We have readers that have commended the excellent customer service of the credit union.

As of June 30, 2009, BauerFinancial gave Alliant 5 stars on soundness and safety. Bankrate.com issued 3 stars based on their March 2009 data.

Alliant Credit Union has declared assets amounting to about $6.3 billion. It is insured with the NCUA through charter number 67955.