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sfchris said:   
Argyll said:   Re: Connexxus 

"Conditions for Early Withdrawals:   You are allowed one withdrawal, without penalty, from the principle amount. Upon early withdrawal, the remaining certificate balance will continue to earn at its current rate, until the certificate’s maturity."

https://www.connexuscu.org/File%20Library/Disclosures/Share%20Certificate/12-Month-Step-Up-Certificate_Full-Disclousure.pdf 

If you withdraw in the first six months, the rate remains at 1% the rest of the term.  At  7-9 months it would remain 1.5%. Only if you waited until the tenth month to withdraw would you continue to earn the 2% being paid then.

The only time you can withdraw once without losing out on the high rate is months 10-12.

Connexxus is a little sneaky.  They are known for hidden fees and conditions.

 

 

  I do NOT agree with your interpretation. I think they are a little sloppy and copied this wording from unchanging CDs that allow withdrawls. They have some misspelling and other sloppiness on their site as well.

I think "current rate" means "as usual" - meaning whatever you have left continues to earn what you expected - 1.0%, then 1.5% then 2.0%. But by all means call them and ask if you think this CD might work for you. You have 2 more days.

Also please provide a citation for this statement "They are known for hidden fees and conditions."

  Argyll,

I contacted Connexuscu about this CD and unfortunately you are correct. If you withdraw early you are penalized by being stuck on the tier of interest you are on for he remainder of the time left on the CD. Just as you said.

Very sneaky and not good business practices.


 


 

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@ scanchain: The e-mail only mentioned the savings... no mention about the checking...but we should know on sunday (feb 1st) which is when the new savings rate takes effect. Only 2 more days to find out...

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HotSalami said:   Savings rate change to .90% as of 2/1!  Alliant must have felt the heat.  Notified by email:


HotSalami,
Your savings account rate just increased to 0.90% APY*. 

At Alliant, we’re always looking to help you earn more. The best part? All you need is $100 or more in your Alliant savings account. No phone calls. No emails. Nothing. It’s that easy. 

  I have a small money market account ($6,000) at Ally that pays .85%. I just threw a grand from that over to my Alliant savings account when I got the email. I'll leave $5,000 at Ally in case they raise the rate. Also decided to move a grand from Capital One 360, as I've given up hope of that account ever moving from .75%. It's become fairly useless at this point.

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LearningCurve said:   I have a small money market account ($6,000) at Ally that pays .85%. I just threw a grand from that over to my Alliant savings account when I got the email. I'll leave $5,000 at Ally in case they raise the rate.
Ally's savings rate is .99%. Most of my money is still there. At least the .90% matches Redneck Bank's MM, which hopefully put some pressure on them...

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HotSalami said:   
LearningCurve said:   I have a small money market account ($6,000) at Ally that pays .85%. I just threw a grand from that over to my Alliant savings account when I got the email. I'll leave $5,000 at Ally in case they raise the rate.
Ally's savings rate is .99%. Most of my money is still there. At least the .90% matches Redneck Bank's MM, which hopefully put some pressure on them...

  I said I have a money market account. 

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0.9% on savings is a long-overdue improvement.  If Alliant had done that last month they might have held onto more of my dough, now at Ally.

Still, better late than never.  I continue to have a decent chunk of change at Alliant, so this will help.

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LearningCurve said:   I said I have a money market account. 
I know -- I did read your message... I don't know why Ally has the disparity with their MM account's rate (it wasn't always that way). Why not open an Ally savings account as well? Your money is already there.
  

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shinobi1 said:   0.9% on savings is a long-overdue improvement.  If Alliant had done that last month they might have held onto more of my dough,
I might agree but too little too late for me. Been with Alliant probably 5 years since they had one of the highest rates around, but not the last year or two. Only kept a minimal balance to use for the billpay.  Jan 1 I started using my Cardinal Bank bill pay with my checking account there (1% checking to $100K) so I keep close to that maximum balance and don't have to constantly transfer money in to cover a payment. Really like their billpay layout better as well.

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It is nice that they finally stepped it up a bit to .90%...If they could just see their way to getting it another .10% for March 1st, it would probably help attract new members since it would be more competitive with other online savings accounts (1.00%), with the added bonus of a lot of great banking features that they offer...let's hope 

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craig10x said:   It is nice that they finally stepped it up a bit to .90%...If they could just see their way to getting it another .10% for March 1st, it would probably help attract new members since it would be more competitive with other online savings accounts (1.00%), with the added bonus of a lot of great banking features that they offer...let's hope 
 
I agree with you.  Another 0.1% would be a big deal and would for certain attract more money which, sadly, might not even be wanted at this time.  But Alliant is such a superb provider of virtually all other services, I can understand if our credit union has to keep rates a tiny bit lower.  0.9% might be the best they can do until spring.  Alliant remains the absolute best credit union out there, bar none!!    

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shinobi1 said:   Alliant remains the absolute best credit union out there, bar none!!    
 

  Their ach transfers have been stellar.

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HotSalami said:   
LearningCurve said:   I said I have a money market account. 
I know -- I did read your message... I don't know why Ally has the disparity with their MM account's rate (it wasn't always that way). Why not open an Ally savings account as well? Your money is already there.
  

  Because I've opened a few bank accounts in the past couple of years (I'm admittedly a bit of a rate chaser) and Ally is ridiculously Chex-happy. They are constantly pulling. I get my Chex report once a year and there are multiple Ally pulls on there for no real reason, as I only have one account with them, and it's not a loan product. And I'm trying to be choosier in the accounts I open lately.

I think a lot of places have a disparity between MM and savings because of the increased access to MM accounts, which come with checkbooks. You sacrifice a little interest for the increased level of availability. When I opened this account, it had the highest rate out there, so I put all my liquid savings in it. And as I was planning to move, I wanted the checkbook for the security deposits that would be coming out of my savings . 

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FrozenBiker said:   
shinobi1 said:   Alliant remains the absolute best credit union out there, bar none!!    
  Their ach transfers have been stellar.

  I agree with this. I only opened my account a few months ago, and I have already switched all my regular banking to it. I keep looking for the catch, but haven't seen one yet.

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LearningCurve said:   Because I've opened a few bank accounts in the past couple of years (I'm admittedly a bit of a rate chaser) and Ally is ridiculously Chex-happy. They are constantly pulling.
I opened a savings with them in 2009 and a checking in 2010. I just went through all of my historical ChexSystems reports and only see the original inquiries from 2009 and 2010, which rolled off of my report in 2012 and 2013 respectively. You may want to have a chat with them if they are indeed pulling your report incessantly.

Which section are these inquiries appearing (Initiated or Not Initiated by consumer action)?
  

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LearningCurve said:   
FrozenBiker said:   
shinobi1 said:   Alliant remains the absolute best credit union out there, bar none!!    
  Their ach transfers have been stellar.

  I agree with this. I only opened my account a few months ago, and I have already switched all my regular banking to it. I keep looking for the catch, but haven't seen one yet.

  LOL

Agreed.  I've been a member since (just) before starting this thread, and I still have not found any "catches".

I have found a lot of good stuff and positive surprises, though!!

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Received an email regarding interest rate (I have a savings account only):
Alliant said: Your savings account rate just increased to 0.90% APY*. At Alliant, we’re always looking to help you earn more. The best part? All you need is $100 or more in your Alliant savings account. No phone calls. No emails. Nothing. It’s that easy.

EDIT:  Woops - already mentioned..

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Yes it was 
Interesting... this was the first time Alliant actually sent an e-mail to call a rate change to our attention...

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Checking rate is unchanged at 0.65%.

I'm disappointed that the HSA rate is now pegged to the much lower checking rate. It used to be higher than the savings, and now it's stuck at the bottom.

ETA: I was delaying withdrawals from the HSA to take advantage of tax-free interest, but this rate difference (between HSA and savings) now exceeds my tax savings.

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I'm totally OK with Alliant not having raised the checking interest rate.  I manage my savings and checking accounts without difficulty, and the six allowed savings withdrawals never leaves me in a bind.  Often as not I have a few allowed withdrawals left over each month.

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Same here...i only keep a few thousand in checking at any one time, and move money in from the savings, as needed...never have any problem with the "6 per month" either and don't forget, if you need to exceed the 6, well then you can always do the extra transfers at ANY atm machine, since they don't count toward the 6 anyway...

Much more important is for the SAVINGS rate to be as competitive as possible...And the .90% apy is only .15% less then the highest online savings accounts (which are at 1.05% apy)...
And of course, they don't offer all the features that Alliant CU does...

I am not including UFB in my figuring, because, i believe (and certainly based on their past experience) that it's only a short term promotional rate...i would be VERY surprised if the 1.25% will last for a whole year....

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I used to always keep it in checking because the rate was close enough - I moved the majroity to the savings with the change.

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olegos said:   Checking rate is unchanged at 0.65%.

I'm disappointed that the HSA rate is now pegged to the much lower checking rate. It used to be higher than the savings, and now it's stuck at the bottom.

ETA: I was delaying withdrawals from the HSA to take advantage of tax-free interest, but this rate difference (between HSA and savings) now exceeds my tax savings.

   
Agreed. Might need to finally transfer out the portion of my HSA that is at Alliant. 0.65% is really weak for long-term HSA money and their investment fees are too high for me to go that route. Somehow my company's HSA account through Wells Fargo has ended up being a better deal..

I do appreciate their lack of fees for anything other than the investment account option though.

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shinobi1 said:   
craig10x said:   It is nice that they finally stepped it up a bit to .90%...If they could just see their way to getting it another .10% for March 1st, it would probably help attract new members since it would be more competitive with other online savings accounts (1.00%), with the added bonus of a lot of great banking features that they offer...let's hope 
 
I agree with you.  Another 0.1% would be a big deal and would for certain attract more money which, sadly, might not even be wanted at this time.  But Alliant is such a superb provider of virtually all other services, I can understand if our credit union has to keep rates a tiny bit lower.  0.9% might be the best they can do until spring.  Alliant remains the absolute best credit union out there, bar none!!    

  Another 0.1% would earn you a whopping $8/month on a $100,000 balance.

I've never understood rate chasing small fractions of a percent. 

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Glitch99 said:   
shinobi1 said:   
craig10x said:   It is nice that they finally stepped it up a bit to .90%...If they could just see their way to getting it another .10% for March 1st, it would probably help attract new members since it would be more competitive with other online savings accounts (1.00%), with the added bonus of a lot of great banking features that they offer...let's hope 
 
I agree with you.  Another 0.1% would be a big deal and would for certain attract more money which, sadly, might not even be wanted at this time.  But Alliant is such a superb provider of virtually all other services, I can understand if our credit union has to keep rates a tiny bit lower.  0.9% might be the best they can do until spring.  Alliant remains the absolute best credit union out there, bar none!!    

  Another 0.1% would earn you a whopping $8/month on a $100,000 balance.

I've never understood rate chasing small fractions of a percent. 

  I keep a $1 balance in a couple of accounts, so that I can move the my money with just a couple of clicks.

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LearningCurve said:   I think a lot of places have a disparity between MM and savings because of the increased access to MM accounts, which come with checkbooks. You sacrifice a little interest for the increased level of availability. 
  MORE importantly is you sacrifice FDIC insurance!! MM are NOT guaranteed by the government!

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taxsaverthegreat said:   
LearningCurve said:   I think a lot of places have a disparity between MM and savings because of the increased access to MM accounts, which come with checkbooks. You sacrifice a little interest for the increased level of availability. 
  MORE importantly is you sacrifice FDIC insurance!! MM are NOT guaranteed by the government!

  Wrong. Money market accounts we're talking about are FDIC insured.

Money market funds are not insured, because they are mutual funds.

 

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Many people confuse the bank money market accounts (which are of course, fdic insured) with money market FUNDS that you get through a brokerage (which are not fdic insured)...
Of course, many brokerage houses carry SIPC insurance which works kind of in a similar manner (SIPC does protect your assets if the broker goes under, but does not protect you against fluctuations in the share value of your money market fund)...With a bank money market account, you don't have to worry about fluctuations...

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Alliant members not already aware might find of interest this recent posting over at Deposit Accounts dot Com:

Link to Alliant posting at Deposit Accounts dot Com 

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Is anyone able to sign on to Alliant this morning? I get to the main page as usual but when I press the orange "secure signon" button I get "this page can't be displayed" (IE).
I've tried in IE Chrome and Firefox. Chrome says "this page is not available". Firefox says "server not found".

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AZpennypincher said:   Is anyone able to sign on to Alliant this morning? I get to the main page as usual but when I press the orange "secure signon" button I get "this page can't be displayed" (IE).
I've tried in IE Chrome and Firefox. Chrome says "this page is not available". Firefox says "server not found".

  I signed on earlier this morning with no problems at all.

Just tried again after seeing your post.  Still no problems.  It's working fine for me.  Am using Chrome 40.0.2214.94 m.

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@shinobi1: Thanks for the link...nice article about Alliant Cu and so very true...
By the way, while i would still like to see them reach the current "magic" 1.0% apy rate, even at .90% i now feel they are close to the top tier online savings accounts...and all their great features they offer is like frosting on the cake...

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AZpennypincher said:   Is anyone able to sign on to Alliant this morning? I get to the main page as usual but when I press the orange "secure signon" button I get "this page can't be displayed" (IE).
I've tried in IE Chrome and Firefox. Chrome says "this page is not available". Firefox says "server not found".

  
No problem for me either.

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It's okay for me now too. Must have been a temporary problem.

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craig10x said:   I tend to agree with you guys also...i kind of like UFB but i don't really trust them to maintain the high rate...i decided to pull the plug on them after i get the interest at the end of the month...what i did was set up an account with GE Capital Bank which has 1.05% apy...they are much more dependable and reliable in maintaining rates then UFB ever was, so i feel much more comfortable going that route...I am moving the majority of my money to them (their online savings account) but will keep a few thousand at Alliant CU and continue using them for my everyday activity...If only they had gone up to, say 1%...i would have been more then happy just to keep it all with them...

But expecting to get (and maintain) 1.25% apy in the current rate environment, i am afraid, is "chasing rainbows" and i really don't want to keep "jumping around" 

Craig, why pull the plug on UFB?  I have had the account for a couple months and still getting the 1.25%. 

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I know Patty...but i guess i like having as few accounts as possible...also, although initially i liked using their online banking, i think i appreciate Alliant's more now for it's simplicity...I still wonder how much longer they'd keep it up, anyway...

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Is the 'manage transfer accounts' malfunctioning for everyone else? It says I have no verified external accounts. Annoying.

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I just checked...mine (external accounts) are all there...

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Craig, you are the good luck charm. It seems to be functional again.

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Just asking general opinions, for the Alliant Visa rewards credit card, is there any "better" redemption option with respect to pt to dollar ratio than a statement credit ( L have a balance due)? How long do statement credits take in real life experience? Sorry if there is a better thread to post this in... I did not find 1. thx

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Off topic here so I'm going to be really brief.  Just posted regarding best liquid account.  Please discuss over there, not here:

Better than UFB and not subject to rate lowering 

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