Just a mention for the subject CD. The jumbo version is yielding 4.9% APY. Jumbos start at US$25K. Below that the yield is lower.
Some things to consider:
Alliant allows members to name the DAY of maturity for this Share Certificate. It's a really nice feature, and allows depositors to avoid having the certificate mature on a weekend.
This certificate pays interest monthly but you CANNOT withdraw the interest. The interest is declared and paid into the account and it compounds . . . but nothing is permitted to be withdrawn until your certificate matures. So this instrument is worthless to you if you need, for example, monthly income.
You cannot open this on-line regardless it appears possible when you visit the Alliant web site. You must download the new member application and download the share certificate application, fill both out following the instructions, and send them in with your check. There are also other less favorable funding options, which I did not use.
Finally, membership is straightforward. Just join your local PTA or PTO and you qualify. You can also join the NATIONAL PTA but that costs $25. For me to join my local PTO cost exactly $1.
Here's a link to the Alliant web site to get you started:
hard inquiry when opening savings account (apparently on Equifax)
Alliant-initiated ACH transfers are limited to $1000 for the first 30 days after account opening, and $10k after that
Alliant ABA Routing & Transit Number (271081528).
To ensure correct external ACH push/pull, use the longer 14-digit account number.
To get the 14-digit account number: log in first, click on "additional features" on the left menu, then click "Instructions for Initiating Electronic Transactions"
No charge for incoming wire transfers
6 electronic (ACH) transfers out of the savings account per calender month for FREE. $29 fee per transaction after that.
eDepositPlus service (deposit checks at home by scanning) available after approximately one month of good standing. Max deposit $20k per day
CA CA PTA - $10 to join Golden State PTA (State), $4-$10 to join local PTA depending on district.
NJ NJ PTA - $10 to join Garden State PTA (State), Local PTA cost varies must call county/region.
NY NY PTA - $20 to join Empire State PTSA, Local PTA cost varies must email Local Region Director.
PA PA PTA - $20 to join Keystone PTA (State), Local PTA cost varies must search via national search above.
Here is a membership form for a local PTA you can join for $3 (anyone, even out of state, is eligible) to become eligible for Alliant membership by virtue of belonging to a local PTA.
Message edited by: Nummerkins on 2009-10-08 23:10:09 CDT
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I have some jumbo CDs with Alliant and have been happy with them. Their share savings account is at 4.35% APY (average daily balance of $100+), and their HSA savings is at 5.15% APY (also average daily balance of $100+).
glxpass said:I have some jumbo CDs with Alliant and have been happy with them. Their share savings account is at 4.35% APY (average daily balance of $100+), and their HSA savings is at 5.15% APY (also average daily balance of $100+).
Wow! Thanks for posting.
Absolutely did NOT realize their share savings was paying so much.
Finally, membership is straightforward. Just join your local PTA or PTO and you qualify. You can also join the NATIONAL PTA but that costs $25. For me to join my local PTO cost exactly $1.
Here's a link to the Alliant web site to get you started:
For those who are Alliant CU members...i have some questions for those who actively use their debit/atm card.... I had been considering joining them because of their nice cd and share rates, but based on what i saw on their website (and talking to an Alliant CSR, who was very helpful and friendly, by the way)....it seems like they are very restrictive regarding atm usage...
According to the site (and CSR) though you have free atm access through the Coop Network (as far as not getting charged by the other bank) they only allow 8 free atm transactions per month (and that includes any atm transactions, such as balance inquiries, transfers and withdrawals at the atms) before a $1 per transaction fee kicks in by Alliant..
I was wondering if anyone had ever "tested" that to see if it is true....especially when using at Coop atms (they say that the fee kicks in whether it is a non-coop or coop atm).....Sometimes computers at banks or cu's are actually set up different then they say, that is why i was curious....
Of course, i am referring to non-alliant atms..i don't live in their home base area, so obviously, could not use Alliant CU's actual atm machines.....(they have no fees on their own atms, of course)....
Also, another thing i should mention is that their Online Application does not appear to work (it worked until the end and then didn't process) and they didn't seem to have much interest in getting it fixed..i mentioned it to the CSR and he didn't even say he would report it! Just told me to do the PDF application and mail it in! That did seem a bit weird....
Anyway, would appreciate your comments..how you like them, and especially about the atm fee business...that does seem quite restrictive to me...otherwise, it looks like they have a really nice set-up (except for that non-working Online Application...lol)
Message edited by: craig10x on 2008-03-08 08:52:35 CST
Finally, membership is straightforward. Just join your local PTA or PTO and you qualify. You can also join the NATIONAL PTA but that costs $25. For me to join my local PTO cost exactly $1.
Here's a link to the Alliant web site to get you started:
where did you find that part about joining the local PTA. I didn't see that on the link ..........only saw the part about joining the National PTA. If you start an on-line application and click continue, you'll see that option as one of the select employer groups, I believe. If you look at the PDF Enrollment Form that can be printed and sent in as an alternative, you'll see a box you can check for Local PTA/PTSA.
craig10x, many people, including myself, had problems with the on-line application failing. Ironically, even though I was told it failed, and ended up visiting a branch -- I realized after the fact that I had a local branch of Alliant -- to join the CU, later I found that the application had actually gone through! To make it worse, I tried the on-line application twice, failed twice, and ended up with an extra two memberships, which I cancelled. Despite the cancellations, I keep getting reminded that I need to send in signature cards for those memberships, or they'll cancel me! LOL! (I've been repeatedly told by CSRs to just ignore those warnings; eventually their automated system will "figure it out" or "give up.") My real account of course had the signature cards filled out when I applied in person.
I suggest you contact a CSR and confirm that your online application truly failed.
I don't have an ATM card, and can't help you there, but you do have an option of getting a checking account with them, where you can direct your CD funds to go upon maturity.
Especially about the application going in anyway, even though it said it failed (like mine...lol)..wow...yes, i guess i better check with them to find out if, indeed, they did actually get it (the customer service is available 7 days/24 hrs)...
The atms restrictions did turn me off a bit...though i was re-considering anyway, because of the high share and cd rates, and i do also have Schwab Investor Checking, so it's not like i don't have an unlimited free atms usage card available to me... though it would be nice if i could have used the coop atms for unlimited free usage with Alliant...
I guess the only way to be sure about the atm business, is to get the card and "test" it myself. It's quite possible that the atm fee is set up to kick in right after the 8 (even at coop atms) but perhaps not, and "field testing" yourself is the only sure way to find out...
PS: I had already joined the National PTA before doing the online application..so i probably shouldn't let the $25 membership fee go to waste (lol)....
If it turns out that it didn't go through, i suppose i could do the pdf file instead and mail it in.....
I say that, because i use to be with a CU that said (both on the website and CSRS) that a fee kicked in after the 10th transaction (even if done at COOP and ALLPOINT atms) but i "field tested" it, and found that the computer apparently did not add the charge if you went over 10 and were doing your transactions at COOP and ALLPOINT atms....
So, that is why i say these things need to be "field tested" by the customer to find out FOR SURE
By the way, they told me they were also adding on the surcharge free ALLPOINT network within the next few months.... All great (except for their possible atm restrictions).....
I guess, either way, it might make sense for me to get the Alliant accounts....i would get about 1 1/4 percent higher that i am getting over at Schwab on the Savings, and even more if i lock in a jumbo CD....
Message edited by: craig10x on 2008-03-08 10:59:46 CST
Finally, membership is straightforward. Just join your local PTA or PTO and you qualify. You can also join the NATIONAL PTA but that costs $25. For me to join my local PTO cost exactly $1.
Here's a link to the Alliant web site to get you started:
where did you find that part about joining the local PTA. I didn't see that on the link ..........only saw the part about joining the National PTA. If you start an on-line application and click continue, you'll see that option as one of the select employer groups, I believe. If you look at the PDF Enrollment Form that can be printed and sent in as an alternative, you'll see a box you can check for Local PTA/PTSA.
Apologies for delayed reply. Ice storm --> no power for 20 hours.
Anyway, I found the local PTA/PTO option on the downloaded application. There was a checkoff box and I checked it. As I posted in the OP, I downloaded the application to become a member, filled it out, and mailed (actually overnighted) it in. Mailed it on a Thursday to score the double interest.
I pretty much have to agree with several other posters here:
The on-line application process might not give newcomers a happy outcome. In particular, the on-line application limits you to circa US$10K (not sure of exact amount). But since you must deposit US$25K to obtain 4.9%APY, well, the on-line appy is useless for that reason alone. I went all the way through the on-line process, only to discover at the end I needed a do-over with paper.
The application for the Share Certificate is a separate download and is filled out separately. However, the Share Certificate application is permitted to be mailed with your membership application, beneath the same cover. Also, I sent in only one check, which covered my required $5 Share Savings account and the full amount for my new Share Certificate account.
I also sent them a B&W copy of my driver's license and a copy of a recent power bill. It was not necessary, and it was not required, to send the power bill copy; but I'm a "belt and suspenders" kind of guy.
One other thing. Alliant funded my share account with $5 for free whan I applied in person. All I did was to write the checks for funding the CDs. I was also told that the on-line application would do the same. I suggest calling a CSR and finding out about that possibility.
Just curious...does Alliant's Online Banking have ACH Transfers available to other banks/cu's? Looking at their Online Banking demo, it looks like it does.....If it has, have you used it? How long do the transfers take? Any fee inbound or outbound?
glxpass said:One other thing. Alliant funded my share account with $5 for free whan I applied in person. All I did was to write the checks for funding the CDs. I was also told that the on-line application would do the same. I suggest calling a CSR and finding out about that possibility.
It's a good point you raise.
I also had seen this in previous posts from as early as January. I called them and asked about their willingness to save me five bucks. Rep said it was a promotion from an earlier time.
So if you cashed in on this last week, well, YOU DID GOOD!
Timing is everything. Either they lied to me or my timing was off for this one and it cost me five bucks. Still, with the 4.9 and given their willingness to let me set my maturity date, I can't squawk or bleat too loudly. I am satisfied.
When they open accounts on day of application receipt, which they did for me, and at the same time let you set your maturity date, well, they're letting you make extra money both on the way in and on the way out. What's not to like!
akhan7 said:Could anyone who has recently joined Alliant tell if a new membership for a savings/CD results in a hard INQ? Good question. Yes, it's a hard credit inquiry. For me, Equifax.
don't bother trying to use the online application, though...you will get the hard pull (that part works) but the application likely won't complete at the end...so you will be wasting a hard pull ...better to mail in the pdf application, instead.....
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