Alliant Credit Union (ACU) was developed by the employees of a utility company in the year 1933 and is powered by its members. The aim of the credit union is to answer the financial needs of the workers. Depositors were mainly owners and members of the Alliant Credit Union. The rates set and the services created by the board are based on the voice of the members. The staffs are willing to go the extra mile to offer services and work out the best rate to suit the needs of its members. Their mission is to provide services and personal financial solutions that are exceptional to assist their members in achieving their goals.
Read Also >>> Amazon Prime Day 2020: How would I plan for Amazon Prime Day 2020?
Alliant
Alliant members’ savings are used to create funds that are in turn used to offer loans at competitive rates. Their deposits are commonly referred to as shares because you actually become a part-owner of the credit union. They are dedicated to investigating members’ savings and offers competitive loan rates, the credit union makes sure to meet the operating costs and generates income that is enough to pay a dividend that is attractive and can hardly be beaten by another credit union. The members set a meeting annually to elect their governing body (the board of directors). The board members help to determine the policies and direction of the credit union, determine the dividends rate quarterly, appoint the manager, and set the loan interest rates. Although, some of the responsibilities of the board like auditing, credit, and finance are managed by various committees.
Differences between Alliant and a Bank
Below are some of the things that make Alliant different from a bank;
- In Alliant, members are the owners, while in bank the owners are the stakeholders
- The members of Alliant earn dividends, while only the stockholders earn dividends in banks.
- Unlike the bank that their stockholders’ votes are determined by the numbers of the share they own, the credit union votes each depositor now owners at their annual meeting not putting their dollar deposit as a factor.
- Alliant boards of directors are volunteers and are not paid, but the boards of directors of the banks are paid.
- Alliant Credit Union only lends money to its owners, but the bank lends money to customers and non-owners.
- The credit union offers better rates, but the banks charge more fees.
The lists above show some of the differences between the Alliant Credit Union and banks. For more information about the differences between the bank and credit union, visit this link; https://www.alliantcu.com/bank/.
Check Out >>> How To Set Up An Amazon Kindle for Children: Setup Amazon Kindle for Your Kids at Home
How You Can Become a Member and Owner of Alliant Credit Union
Over the years Alliant Credit Union has been growing and has made a mark, with over seven locations and over 11 thousand members it just keeps getting better. The credit union is a closed field membership union. This automatically means for you to join the credit union you must be an employee or have a connection through the employer or a family of the member before you can join. The reason they make the membership criteria so is to help keep their charging fees low and provide better interest rates. Below are lists of family members who are welcomed to open an account with Alliant Credit Union;
- Parents
- Fiancé or spouse
- Children
- Grandparents
- In-laws
- Siblings
- First cousins
- Uncles/Aunts
Alliant Online Services
The credit union offers you online services, which gives you the chance to handle your financial businesses at your convenience. Below are some of the online services;
- You can easily get your current account balances
- You have access to retrieve your account histories
- You can easily transfer funds between your account to a loan or to another member’s account.
- Get to see cleared checks
- Setup account text or email alerts
- View information on the loan
- Get to view your eStatements
- Scheduling automatic transfer
- Download cleared checks into QuickBooks or Quicken.
On a final note, once a member of the “Alliant Credit Union, always a member”, open an account today for a very affordable fee. After the opening of the account, there apply no annual charges or maintenance fees to keep your account open. Even if you are to change your jobs or move across the country, you will always remain a member. For further inquiries about Alliant Credit Union check the following link; https://www.alliantcreditunion.org/.
Recommended >>> AOL Email Login: How to Log In to AOL Email Account
