Hmm, upon browsing rates at their site, it seems one reason their rates are so much higher than market is that they haven't adjusted them since Jan. 25. Maybe they only change them quarterly or something. A screaming deal.

Cheers,
VW

I believe a rating of 3 stars is considered good for a bank or cu......They are one of the largest CU's in the country, and have over 200,000 members....

As far as why they have the high rates...who knows? But they have had that reputation, even going back to the time they were known as the United Airlines Employee's Credit Union (which is what they were before they expanded their base).......

Oh, and yes, NCUA insurance is just like the FDIC insurance, for the Credit Unions...with the same up to $100,000 coverage per account....works exactly the same way.

fozzy said:How do you know when sending in the application and check that you will get the 4.9 rate? What if the rates go down and you get stuck with lower rate? Is there a way to guarantee the 4.9% rate before you send in the money?

It's an excellent question. Here's how I dealt with this:

First, the rep assured me they would be lenient if my deposit arrived just shortly after a rate change.

Second, I checked their rate page the morning of the day (last Thursday) I overnighted my deposit. The rate was holding at 4.9%. So I knew my deposit would arrive at worst, VERY shortly after any possible change.

But I acknowledge not all posters will have a deposit of sufficient size to justify the expense ($16.25) of Express Mail. My strong suggestion, should this be the case, is to use Priority Mail. It's much less expensive than Express Mail, but Priority Mail still connotes your sense of urgency and your desire for your deposit to reach them quickly. Priority Mail with Delivery Confirmation would be even better, and the added cost is minimal.

If you just use first class mail, well, you have my sincere wishes for a good outcome. I would not use First Class Mail myself.

I do not mean to rule out the other services here, Fedex and UPS overnight service. But for me these services are circa $10 more costly than Express Mail . . . . . and I am cheap. Also, in conversation with my Postmaster I learned my el cheapo Express Mail items go out on the nightly Fedex plane. So what my mail is traveling second cabin . . . it's the same plane!!

Finally, when using Express Mail, I always mail to the physical address anyway. The USPS prefers use of the PO Box number. I go with a physical address because I have the feeling it gives me stronger position, a stronger argument, if I must telephone the destination Post Office to inquire re delivery. I don't want to be told the item never was picked up . . . . I want my Express Mail item to be _DELIVERED_, if it's not picked up.

Now last week, even though I used the physical address, the PO put my item into the Alliant PO Box anyway. This was fine because it _WAS_ picked up and was signed for. Had it not been picked up though, for whatever reason, I wanted to be in the best position to FORCE delivery to Alliant's physical location.

Unrelated to the above:

It's getting more and more difficult to make money these days. My check to Alliant, which they did not process until VERY late in the day last Friday afternoon in Chicago, nevertheless cleared my checking account here (about 500 miles away and in a different Federal Reserve Bank district) early this (Monday) morning.

My checking account pays no interest, so last evening just after midnight I did a telephone Xfer of funds into my checking from my MM account (which does not have checks but DOES pay interest). Thus, I was able to make money on the float . . . but it took effort and forced me to do a late-night Xfer. The Xfer, incidentally, happened in real time. So my funds were in an interest-paying account all day Sunday, but only scant few minutes beyond that.

In speaking with the rep at my local CU, he mentioned he is seeing (primarily with the big NYC banks) SAME DAY debiting of accounts [e.g., you deposit check drawn on Bank #1 into Bank #2 . . and it clears Bank #1 the same day you presented it at Bank #2]. When (if) that starts to happen at the smaller institutions, the days of making money on the float will be history. Even with things as they are today, it's a tough slough.

Because my account-opener check to Alliant was processed SO late in the day last Friday, I thought it might take an extra day to clear and might not clear until tomorrow (Tuesday). I quite simply could NOT have been more in error. Lucky for me I had it covered today. Overdraws are not fun, and they are expensive.

glxpass said:Unfortunately, Priority Mail might be a scam, and might do nothing more than, as you say, connote the urgent nature of the mail. As one who has used Priority Mail many times, it isn't a pleasant feeling to consider this. The problem is that Post Office employees apparently have sales quotas, and are required to market their products. This makes it hard for them to be objective about the supposed benefits of Priority Mail. What is true is that only Express Mail has a guaranteed delivery time.

If I had to send something that was truly time critical via the USPS, I'd use Express Mail. I've found its online tracking feature very useful.

For information about Priority Mail, see WSJ: Data Reveal 'Priority Mail' Is Slower Than First-Class and Rip-off Report: United States Postal Service, USPS.

It's fascinating reading, and you can form your own opinion on whether or not Priority Mail makes a difference.

Well, yer right. I live in one of the top performing postal districts in the USA, so Priority Mail has worked well for me. But I totally agree others might have a different outcome. Still, you acknowledged my key point, which I appreciate:

Use of Priority Mail says to the recipient that you (the sender) TRIED to get "whatever" to them quickly. It connotes a lack of dawdling and a seriousness of purpose. Also, the Priority Mail mailer has the same form factor as the Express Mail mailer. Sure, you and I are WELL aware of the critical differences. But the average bank employee might be less aware.

It's all a crap shoot. For posters here with smaller amounts to send, I was trying to offer an alternative with less cost than Express Mail. But I wasn't wanting to offer any guarantees, and I hope nobody read my post that way.

Also this final observation:

My best knowledge is that Priority Mail service is better and more reliable now than once it was. It IS very important with Priority Mail to boldly label your item with the Priority Mail stickers, or use a special Priority Mail box. Of course this is not an issue with mailings to a bank which go into the dedicated Priority Mail mailer, available free at the Post Office.

Great Credit Union !

Opened back on January 7th, and they gave me the $5 for saving account.

Joined using "mypoints.com" which was ineligible,
so Alliant paid the $25 for my National PTA membership.

Transfered my HSA from HSABank to Alliant's 5.15% APY HSA

Opened a 5.40APY 24 month CD (looks even better after recent rate drops)

Few questions I had were answered by very professional and helpful CSRs

Persons interested in Alliant need to be aware the domestic outgoing wire fee is $30. That's a pretty stiff fee for a credit union for this service.

NOT saying this is a deal killer. Just making you aware, that's all.

i don't think they charge any fees for ach transfers (none listed in their fee schedule)...can't tell you yet as i am just establishing my "links" but perhaps
goldsheet can comment (or someone else who has used it)....

update: no fees either direction (just confirmed my links and scheduled a few transfers)....it says it can take up to 3 days to complete...but will follow up to see how long they actually take (coming in and going out)....

you can call customer service at Alliant and they will give you the full account number...the checking account is 14 digits total, savings is a bit fewer digits.... and both revolve around the same number...they will give it to you on the phone.....

Wasn't much interest in Alliant CU when posted in CD thread two months ago.
glxpass also posted savings rates back on January 30th.
Come late, get lower rates

Just opened a saving and CD account last night and initially it is only letting me fund 11K combined with saving(1k) and CD(12month 10K). Anyone have the same limit issue?

Thanks.