Alliant Credit Union $400 Banking Bonus ($300 For Existing)

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Alliant Credit Union has a new FastPass promo worth up to $400 total, broken up as follows:

  • $100 for Savings Account. Open a savings account by March 31, 2023 plus have a minimum $1000 savings average daily balance on April 30, 2023 to earn a $100 bonus.
  • $100 for Checking Account. Open a checking account by March 31, 2023 plus have a minimum $100 checking average daily balance on April 30, 2023 to earn a $100 bonus
  • $100 for Certificate Account. Open a certificate by March 31, 2023 plus maintain a minimum $1000 certificate balance on April 30, 2023 to earn a $100 bonus
  • $100 for $10,000 in total deposits. Deposit a minimum of $10,000 total across any of these three accounts by March 31, 2023 and maintain this minimum balance until April 30, 2023 to earn a $100 bonus.

Useful fine print from the promo FAQ:

Did I open my account(s) correctly to be eligible for the promotion?
If you opened your Alliant account(s) by clicking on the link within a promotional email you received or the webpage, you will be eligible for the promotion.

Are current Alliant members eligible for this promotion?
Yes, current Alliant members can still be eligible by opening a checking account and/or certificate and meeting the balance requirements, and/or by incrementally adding $10,000 to their total balance by April 30, 2023.

When is the payout for the promotion?
Accounts will be reviewed after April 30, 2023 to determine eligibility. If all requirements have been met, the bonus payment you earned will automatically be deposited into your savings account within 4-6 weeks after April 30, 2023.

When do I need to make my deposit(s) to qualify for the balance requirement?
For the savings account, the deposit should be made by March 31, 2023 and maintained through April 30, 2023. For Checking and Certificate products, balance should be met by April 30, 2023. Please ensure you allow enough time to open account and receive approval (accounts may be in pending status for 2-5 business days depending on pending reason or documentation needed).

There is a mention later on that “This promotion is for new and existing members of Alliant Credit Union (“Alliant”) who are current or retired employees from one of the many businesses and organizations Alliant partners with in the U.S.” However, this conflicts somewhat with their FAQ, which suggests that as long as you apply through the correct page and use the FASTPASS promo code, you are eligible.

Alliant CU membership eligibility. Alliant CU is one of the top 10 largest US credit unions by assets and their membership eligibility is very open. If you start the online membership application, it will walk you through their various eligibility options. Here are their membership groups:

Any employee or retiree of a Qualifying Company.
Any member of a Qualifying Organization.
Any immediate family member of an existing Alliant member.
Anyone who lives or works in a Qualifying Chicagoland Community.
Anyone who is a member of the Foster Care to Success charity group.

When I applied previously, I found not only does it only cost $5 to join Foster Care to Success, but Alliant will pay that fee on your behalf.

If you are not eligible through another option you can become a member of Foster Care to Success (FC2S) and become eligible for Alliant membership. FC2S serves thousands of foster teens across the United States, focusing on those who are aging out of the foster care system. FC2S awards grants and scholarships for higher education and provides care packages, mentoring and internships. (Alliant will pay the one-time $5 membership fee to FC2S on the member’s behalf.)

Quick thoughts. This is a solid bonus. $100 for a $1,000 deposit to a certificate is a 10% bonus. Even holding $10,000 there for a couple of months for another $100 is not bad, since it is on top of their interest rates. Their High Yield Savings pays 2.95% APY as of 2/4/23. A 12-month certificate pays 4.60% APY as of 2/4/23.

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  1. Does it do a credit hard pull on an applicant?

  2. I use Alliant as my primary bank. Personally, I’d rather just see them raise their rates to be competitive with Ally, Marcus, et al then offer these silly bonuses.

    • Jason Boxman says

      They were competitive about 10 years ago, but I finally gave up on them years ago. The accounts are still open, however, so I’m probably in for the win on this deal.

  3. Is there a requirement to have minimum balance after we get the bonus?

  4. Just spoke with a supervisor, Patrick. You qualify only if you are an employee or retired to receive the promo.

  5. Based on Jonathan’s article, I applied for a 36-month CD, but without the $300 bonus, I’m not interested.
    Just spoke with Eddie in Customer Service to cancel my application, and he stated that after the application is processed, if the promotion wasn’t received, they can manually apply the promo code. I’ll be upset if Alliant doesn’t honor that.

  6. Customer Service stated that even though I’m with an eligible employer, since my membership was with Orphan Foundation (now Foster Care 2 Success) I am not eligible. Quite sad — agree with the comments, between the low rates under the new Alliant CU President and the targeted promotions, this is becoming less and less attractive.

  7. So i’m confused… is anyone elgible for this or no? I would do it for those bonuses but don’t want to go through it and find out i’m not elgible.

  8. Because of the conflicting information on who is eligible for this promotion, I called their customer service line and their representative told me you are only eligible for the FastPass promo if you received an emailed link from your employer. Your “employer” must be a member of the Alliant Credit Union group. She also confirmed that this promo is not open to everyone. Hope this helps.

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