Business Insider's personal finance team compared Alliant Credit Union CD rates to the best CD rates and found them to be a standard offering. Alliant Credit Union CD rates are higher than those at many traditional banks, but you can find better rates at other online banks and credit unions.
Alliant Credit Union is an online-only financial institution.
Alliant Credit Union is one of the best credit unions because it has low minimum opening requirements on bank accounts and decent CD rates.
Current Alliant Credit Union CD Rates
Alliant Credit Union Regular CD Rates
Alliant Credit Union CD rates are 3.10% to 4.25% Annual Percentage Yield (APY), which are higher than average CD rates.
Here are the certificate rates if you make an $1,000 minimum opening deposit.
| Terms | APY |
| Alliant 3 Month CD | 3.10% |
| Alliant 6 Month CD | 4.10% |
| Alliant 1 Year CD | 4.25% |
| Alliant 18 Month CD | 3.80% |
| Alliant 2 Year CD | 3.70% |
| Alliant 3 Year CD | 3.65% |
| Alliant 4 Year CD | 3.65% |
| Alliant 5 Year CD | 3.65% |
Alliant Credit Union Jumbo CD Rates
Alliant Credit Union also has Alliant Credit Union Jumbo CDs with rates ranging from 3.10% to 4.30% APY.
These accounts offer slightly higher interest rates on select terms with a $75,000 minimum opening deposit, which is a lower minimum deposit than most jumbo CDs require.
| Terms | APY |
| 3 months | 3.10% |
| 6 months | 4.10% |
| 1 year | 4.30% |
| 18 months | 3.85% |
| 2 years | 3.80% |
| 3 years | 3.75% |
| 4 years | 3.70% |
| 5 years | 3.70% |
Alliant Credit Union IRA CDs
Alliant Credit Union IRA CDs have an APY range of 3.10% to 4.25% APY for regular IRA CDs and 3.10% to 4.30% APY for jumbo IRA CDs. They offer the same interest rates as non-IRA regular and jumbo CDs of the same term length.
These IRA CDs come in three different types: Traditional IRA CDs, Roth IRA CDs, and SEP IRA CDs.
Overview of Alliant Credit Union CDs
Alliant Credit Union has standard, jumbo, and IRA CDs. Alliant Credit Union Certificates are the bank's standard account. You can choose from terms that range from three months to five years.
Alliant Jumbo CDs are similar to the standard ones — these accounts still have a fixed interest rate and early withdrawal penalties. The main difference between the two accounts is that Alliant Jumbo CDs pay a higher interest rate on select terms because you have to open an account with $75,000 or more.
The third option Alliant Credit Union offers is the Alliant IRA CD. These are retirement accounts the best suited for people whose retirement plan sees them retiring in a few years.
You can choose between Traditional IRA, Roth IRA, or SEP IRA Certificates. An IRA has to be established with Alliant before opening an Alliant IRA Certificate. Alliant IRA CDs pay the same rates as Alliant Certificates if you make a $1,000 opening deposit or Alliant Jumbo CDs if you make a $75,000 opening deposit.
Alliant CD Rates Pros and Cons
Alliant CD Pros
- Anyone in the U.S. can become a member
- High CD rates
- Good range of CD terms
- Low-to-standard early withdrawal penalties
Alliant CD Cons
- Other online financial institutions may let you open a CD with less money upfront
- Other financial institutions may have more CD types, like no-penalty CDs or step-up CDs
Alliant Credit Union CD Alternatives
Alliant Credit Union CD vs. PenFed Credit Union CD
Alliant Credit Union and PenFed Credit Union CD rates are both higher than the national average, with PenFed CD rates ranging from 3.00% to 3.65% APY. If you're looking for the most competitive CD rate, it may ultimately depend on which term you want and how much money you plan to deposit.
If you're interested in getting a 7-year certificate, PenFed Credit Union Money Market Certificates will be your default option because Alliant Credit Union doesn't offer this term. Alliant Credit Union does offer a 3-month term, which PenFed doesn't have.
You'll also prefer Alliant Credit Union if you want to open a certificate that has more lenient early withdrawal penalties. PenFed has steep penalties for early withdrawals on terms above six months.
Alliant Credit Union CD vs. Connexus Credit Union CD
Alliant Credit Union and Connexus Credit Union both have standard certificates and jumbo certificates. The minimum opening requirements are more lenient at Alliant Credit Union than Connexus Credit Union — you'll need $5,000 to open a regular Connexus Credit Union Share Certificate and $100,000 to open a jumbo one.
Alliant Credit Union may be a better choice if you're searching for more short-term CD options, since Connexus Credit Union doesn't have any terms under a year. It also pays higher CD rates on all standard and jumbo certificate terms, as Connexus Credit Union Share Certificate rates range from 2.47% to 2.91% APY.
Who is Eligible for an Alliant CD?
You can become a member of the credit union regardless of where you live in the U.S. if you join Foster Care to Success, a non-profit organization focused on foster youth (Alliant Credit Union covers the $5 joining fee). Once you've joined Alliant Credit Union, you can open an Alliant Credit Union Certificate.
What Influences Alliant CD Earnings
Since all Alliant Credit Union CD have fixed interest rates, you can use a CD calculator to find out how much interest you'll receive. Bear in mind that CD term length and early withdrawal penalties can impact your Alliant Credit Union CD earnings. If you choose to renew a CD, market fluctuations are an additional factor to consider.
CD Term Length
Generally, long-term CDs pay more interest in the long run because you're guaranteed a fixed interest amount for a longer period of time. However, short-term CDs offer higher interest rates than long-term CDs right now because of economic uncertainty.
Experts recommend choosing a CD based on your savings goals. If you're looking for more flexibility, you could also build a CD ladder.
Avoiding Early Withdrawal Penalties
To obtain the maximum amount of interest on a CD, you must wait until CD maturity. If you withdraw money from an Alliant Credit Union CD during the term, you will face a penalty.
Here is an overview of Alliant Credit Union's early withdrawal penalties:
- Up to 90 days of dividends for terms of 17 months or less
- Up to 120 days of dividends for terms between 18 months and 23 months
- Up to 180 days for terms between 24 to 48 months, or 60 month terms
Alliant Credit Union has more lenient early withdrawal penalties than other financial institutions — particularly for long-term CDs — but these charges can still significantly impact your total interest earnings. It's best to wait until your CD matures if you can.
Alliant Credit Union lets you withdraw your interest, which it calls dividends, each month without paying an early withdrawal penalty. If you do this, you can either have a check with your dividends mailed to you, or you can transfer the interest to another Alliant account, such as its high-yield savings account. However, you'll still be losing money if you do because you aren't allowing your interest to compound.
To figure out how much money you'll lose if you withdraw your dividends, put your information into a compound interest calculator and change how frequently your interest compounds.
Market Fluctuations
Your earnings also may be impacted by market fluctuations if you're opening or renewing a CD. Alliant Credit Union can change CD rates at any time. Generally, though, CD rates fluctuate when the Fed adjusts monetary policy. Paying attention to upcoming Fed meetings can you keep track of changes in monetary policy and potential changes in CD rates.
Alliant CD Laddering Strategy
Opening a CD ladder made out of Alliant Credit Union CDs can help you gain additional liquidity while still locking in a high rate for a significant amount of time. Opening a CD ladder means you'll be opening multiple CDs with different term lengths using the money you have set aside for CDs instead of opening just one.
For example, if you want to open a 1-year CD with $30,000, you'd instead open a 6-month, 1-year, and 2-year CD with $10,000 apiece. This way, you'll get some of your money back sooner in case of an emergency while locking in a high interest rate for even longer.
You don't have to use CDs all from the same financial institution when opening a CD ladder. But if you prefer to keep all your CDs in one place, Alliant Credit Union is a good choice because its CDs all have relatively high interest rates.
Alliant CD Online and Mobile Banking
Because Alliant Credit Union is an online credit union, you'll need to be comfortable banking online if you open a CD with it. Luckily, the credit union has a well-rated mobile banking app so you can comfortably bank from your phone.
You can reach out to Alliant Credit Union's customer service in a few ways, such as through its phone line, its online chat service, or by sending a secure message through the bank's website. Its phone line offers 24/7 customer support for a few services, but for the most part, you'll need to call within its customer service hours.
Its phone line has customer service availability on each day of the week, with limited hours on the weekends, but its online chat service is only available Monday through Friday.
Should You Open an Alliant CD?
Alliant Credit Union is a good option for CDs if you are looking for high interest rates and can meet the minimum to open an account. But keep in mind that you can find higher interest rates from other online banks and credit unions.
However, if you're looking for special types of CDs, like step-up CDs, you'll want to consider another online financial institution.
Why You Should Trust Us: How We Reviewed Alliant Credit Union CDs
To review Alliant Credit Union CDs, we used our certificate of deposit methodology. We rate each account on a scale from one to five stars.
For regular and jumbo CDs, we looked at ethics security, the mobile app, customer support, interest rates, minimum deposits, term variety, miscellaneous features, and early withdrawal penalties.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Alliant CD FAQs
Alliant Credit Union offers higher-than-average overall rates for standard CDs. The credit union also has strong jumbo CD rates and high IRA CD rates.
Alliant Credit Union CD rates can fluctuate over time. CD rates are impacted when the Fed adjusts monetary policy. CD rates rise when there's a Fed rate hike, and CD rates drop when there's a Fed rate cut.
Anyone in the United States is eligible for Alliant Credit Union membership. The easiest way to become a member is to join Foster Care to Success, a non-profit organization focused on foster youth (Alliant Credit Union covers the $5 joining fee). You're also eligible for membership if you live in certain areas of Illinois or work an a participating employer.
Alliant Credit Union CDs are safe, low-risk bank accounts. Money deposited into Alliant Credit Union CDs is secure for up to $250,000 per depositor, per account ownership category, by the federal government through the NCUA.
Alliant Credit Union offers jumbo CDs, which means you can earn a higher interest rate on many terms with a higher minimum opening deposit.
