If you’re looking to deposit cash into a certificate of deposit (CD), consider Alliant Credit Union. They have some of the best CD rates, including 4.30% annual percentage yield (APY) on their 12-month Jumbo CD.

Alliant Credit Union CDs are a popular choice because there are several CD terms to choose from and you can get started with a minimum deposit of just $1,000.

Keep reading as we explore the different Alliant Credit Union CD rates and provide you with some of their features.

Current Alliant Credit Union CD Rates

Alliant CD rates are going to depend on the term you choose. Below is a chart showing the different rates you can receive.

Alliant Credit Union Traditional CD Rates

Alliant Credit Union Jumbo CD Rates

Key Features of Alliant Credit Union CDs

• Low Minimum Deposit: You can open an Alliant Credit Union CD with just $1,000.
• Multiple CD Terms: You can choose Alliant CDs that range from three months to 60 months.
• NCUA Insurance: Your deposits are protected by NCUA insurance, up to $250,000 per depositor, per product.
• Dividend Withdrawals: You can choose to withdraw your monthly dividends or redeposit them to benefit from compounding interest.
• Jumbo Certificates: If you have $75,000+ you can deposit into a jumbo certificate to earn higher interest rates.
• Roth IRA and SEP IRA certificates: You’ll also have access to Roth IRA certificates and SEP IRA certificates.
• Early Withdrawal Penalty: If you withdraw your funds before the CDs maturity dates, you will be charged an early withdrawal penalty.

How Do Alliant CD Rates Compare?

Do you want to compare the current Alliant CD rates to other options? Here are a few other options to consider.

Alliant Credit Union Early Withdrawal Penalty

If you choose to withdraw your funds from your Alliant CD before the maturity date, you’ll need to pay an early withdrawal penalty. The chart below shows the penalty based on the CD term.

Pros and Cons of Alliant Credit Union CD Rates

Pros of Alliant CDs

• Competitive Interest Rates: Alliant Credit Union CD rates are competitive against many other banks, including 4.30% on their 12 month Jumbo CD.
• Serveral CD Terms Available: You can choose from CD terms that range from 3-month to 60-month
• Low Minimum Deposit: Traditional CDs require a minimum deposit of $1,000.
• Jumbo CDs Available: Jumbo CDs are available with a minimum deposit of $75,000.
• Lower Early Withdrawal Penalties: Early withdrawal penalties on longer term CDs are lower than many other banks.

Cons of Alliant CDs

• Membership is Required: You’ll need to become a credit union member. If you’re not part of a qualifying organization, you can join for $5.
• No Physical Branches: Because they’re an online credit union, there are no branch locations to do your banking in person.
• Interest Compounds Monthly: Interest compounds monthly instead of daily like many banks.
• Lacks No-Penalty CDs and Step-up CDs: While they offer jumbo CDs, they don’t offer any other specialize products like no-penalty CDs or Step-up CDs.

How to Open an Alliant Credit Union CD

If you’re ready to open an Alliant Credit Union CD, you’ll want to follow the steps below to get started.

1. Become a Alliant Credit Union member: There are many ways to become a member. If you work for an organization that partners with Alliant Credit Union, you’ll automatically receive a membership. Otherwise, you can join the Alliant Credit Union Foundation with a $5 donation.
2. Submit The Required Documents: You’ll need to provide your name, address, date of birth, email address, Social Security number and a copy of a governement-issued ID.
3. Choose The CD Term: You’ll need to decide between traditional and jumbo CDs and the term you want.
4. Fund Your CD: If you’re using a traditional CD, you’ll need to fund it with at least $1,000. If you’re using a jumbo CD, funding will need to be at least $75,000.
5. Choose Interest Disbursment: You’ll need to decide if you want interest paid out each month or if you want to let it compound in the CD until the maturity date.

Alternatives to Alliant Credit Union CDs

Depending on your situation, you may want to consider some other alternatives to an Alliant CD.

High-Yield Savings Accounts: CDs will require your money to be locked up for the term of the CD. If you would prefer to have access to your funds, you could consider a high rate savings account instead. A couple of our favorites are from American Express and Forbright Bank.

High Yield Checking Accounts: It’s also possible to earn a return from your checking account. Some high-yield checking accounts like the Consumers Credit Union Free Rewards Checking account offer rates that are as good or better than some CD products.

Other CDs: It’s also a good idea to compare Alliant Credit Union CD rates to what you’ll find at other banks. You can then use our CD calculator to understand how much you’ll earn from one bank, compared to others.