Chicago-Based Alliant Credit Union Raises Savings Rate to 0.80% APY -- 6.2 Times the National Average

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Oct 29, 2014, 08:15 ET

CHICAGO, Oct. 29, 2014 /PRNewswire/ -- GOBankingRates client Alliant Credit Union has hiked its savings dividend rate to 0.80% this month -- 6.2 times the national bank average -- offering members in Chicago and across the country an opportunity to grow their money faster and improve their financial well-being.

This rate, which represents a bump of 10 basis points, applies to a number of the credit union's deposit products, including its regular, supplemental and Kidz Klub savings accounts, as well as its IRAs and Coverdell Education Savings accounts.

CLICK HERE to learn more about Alliant's savings products

Additional details:

Dividends are paid monthly to accountholders who have maintained an average daily balance of $100 or more.
There are no monthly fees for standard usage of Alliant's savings products.
Alliant members enjoy free online and mobile banking, check withdrawals (up to the government-set limit), and access to more than 80,000 surcharge-free ATMs.

"Savings account deposit rates have been jumping up and down at different financial institutions over the past few months -- sometimes up or down more than 10 basis points in a week," said David Mooney, Alliant's president and CEO. "Our philosophy at Alliant Credit Union is to provide our members with significantly above-average stable rates for their deposits. The majority of our members are not rate chasers -- they come to Alliant for consistently high rates and tend to stay with us. We set our pricing where we believe we can sustain it so our members don't have to keep bouncing from bank to bank to find that extra basis point."

"Alliant continues to demonstrate its commitment to improving its member's financial futures," said Casey Bond, GOBankingRates' managing editor. "The rate hike is just the latest way that members can better grow their savings, manage their money and stay financially sound."

About Alliant Credit Union:

Chicago-based Alliant Credit Union, founded in 1935, is an independently operated financial cooperative. Serving over 140 employee groups and organizations with more than 275,000 members and over $8 billion in assets, Alliant is the largest credit union in Illinois and the seventh largest in the nation, based on assets and deposits. For more information, visit alliantcreditunion.org.

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