Alliant Credit Union Gives Top 1 Yr CD Rate

Alliant Credit Union is currently offering an APY for a 1 year CD that’s hard to resist. Their 1 yr CD is boasting a 1.20% APY for balances below $25,000, and a rate of 1.30% for balances above $25,000. The credit union is also offering juicy rates on a 2 year CD, with 1.60% APY on $25,000 and below balances, and 1.70% APY on a $25,000 and above balance. Below is a summary of their CD rates with different terms.

Alliant Credit Union CD Rates Chart

*12-17 months – 1.20/1.30 % APY
*18-23 months – 1.45/1.55 % APY
*24-35 months – 1.60/1.70 % APY
*36-47 months – 1.80/1.90 % APY
*48-60 months – 2.10/2.20 % APY

(First rate for balances below $25,000 and second rate for balances above $25,000)

The Alliant CD Advantage

Aside from offering great rates, one of the good things about Alliant’s CD rates is that they have more flexible terms. Meaning, if you want to keep your money in the CD for just a little more than 1 year, you can do so without having to lock in you money for an extra year.

How the Rates Compare

The highest nationally available for 1 year CDs in banks is 1.15% from Popular Bank and Doral Bank. This rate is slightly lower than what Alliant Credit Union is offering. Alliant’s 2 year CD is also much higher than the highest available from banks which is only 1.30% from CIT Bank. This also rings true for the 5 year CD since the bank’s highest is from Discover Bank and Intervest Bank at 2.00%. However, State Department Federal Credit Union is offering a higher 5 year CD at 2.42%.

Membership

Credit Unions usually have limited membership. In this case, the union serves those who are employees or members of qualifying organizations, and those who lives or works in Chicagoland Community. However, it is possible to become a member of Alliant Credit Union by becoming a donor to Foster Care of Success, an organization that caters to the needs of foster teens around the USA who are “aging out” of the foster care system. You can join the FCS by simply making a donation of $10 or more. After becoming a member of the FCS, you can then use Alliant’s online membership application.

About Alliant Credit Union

Alliant currently ranks 6th as the largest credit union in the country. It serves over 280,000 members worlwide and holds over $7 billion in assets. Their fiscally conservative policy has allowed the union to give out $172 million in dividends to its members and capital reserves now exceed $638 million. Alliant Credit Union was formed on October 26, 1935.

With the stability of the credit union and the competitiveness of rates plus easy membership, this credit union is worth looking into.


Highest 3 Year CD Rates Yield 3.0% APY – November 2009

You may find it hard to find a 3 year CD rate above the 3.0% APY mark. Nationwide we have found the top 36 month CD rates coming from either credit unions or national banks instead of local banks.

Flagstar Bank has a 3 year CD yielding 3.0% APY. The minimum deposit is $500 to receive this rate from Flagstar. If you look at Flagstar’s current rates, their 30 month CDs are yielding 2.16% but if you jump up 6 months to their 36 month CD, you will yield a more lucrative rate of 3.0% APY. On their site you will have to enter your zip code before getting the interest rate in your area. After doing a few zip codes from major cities, we have found that the 3 year CD rate of 3.0% APY is common to most locations.

Alliant Credit Union has the same 3 year CD rate of 3.0% APY but comes with some strict requirements for eligibility. To be eligible for this 3 year CD rate you must deposit atleast $50,000 and fit into the following requirements:

  • live or work in the following Chicagoland communities: Arlington Heights, Bensenville, Des Plaines, Elk Grove, Elmhurst, Franklin Park, Harwood Heights, Itasca, Mount Prospect, Northlake, Niles, Norridge, Park Ridge, Prospect Heights, River Grove, Rolling Meadows, Rosemont, Schiller Park, Wood Dale and Chicago O’Hare Airport property.
  • Any person related by blood or law to an existing member.
  • Domestic partners of unmarried members.

If you cannot meet the minimum requirements for their 3 year CD rate, you can still earn the high CD rate of 2.85% APY.

CD rates are time sensitive in nature so please view the date of this article for interest rate accuracy. If you know of better 3 year CD rates then please let us know.