Alliant Credit Union

I’m rethinking about 16mo 4% CD. We don’t have many if any long term 4% CD’s available at the moment.

My thinking :thinking: is grab the one offer that’s on the table today. Then I read glitch99.
Are you predicting 4-5% CD’s coming right around the corner?

With another .75-1% increase happening next week, I’d expect so. Rates continue creeping upward, and havent showed any signs of stopping.

But this wasnt about predicitng. My point was that 16 months takes away your access to potentially higher rates in the next few months, but it also is not long enough to get you through the next downturn after the rate peaks. I’m not targeting any particular rate, just sayin’ that if you are going to lock in today’s rates you should probably be locking it in for as long as possible.

OT a bit from Alliant, but… @scripta

Do you manually do the transfers? Just curious… I do everything manually but had considered Astra and recently realized that Sofi has ‘automation’ which might work. I may play around with using Sofi more and see how it goes. Rate is good anyway.

PSA

Just wanted to mention this here for anyone who missed the notice or follow up on BILL PAY CHANGES!!

This is from the web site “pop up” and contains some new information, I believe.

~~
Good news!
Alliant is upgrading our online banking to make paying bills easier.

So, between September 22 - September 25, we will be updating “Pay Bills” and it will not be available.

Be sure to schedule any payments prior to being unavailable on September 22 to ensure they are not late.

~~

Note the dates… setup your payments NOW or make other arrangements!!

PSA

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Automatic (on a monthly schedule) to cover monthly bills, manual for the rest.

You talking about their “autopilot”? It’s basically the same as a repeating scheduled transfer. Most banks should have something like that.

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BTW we already have a thread for “hub accounts” here, so let’s continue any further discussions there if it’s not related to Alliant.

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My treasury direct account is set up to use my alliant account. Treasury makes it a giant pain to add additional banks. I am planning to buy a lot of short term treasuries.

Do you guys see any problem with me having Alliant pull $100k from another bank and then have the treasury immediately pull the money out?

Will Alliant ding me for using them as a hub? Will they put a hold on the money for an extended period of time after I pull it? I may repeat this several times over a month or two.

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I would do a push from external bank into Alliant, not pull. There’s always a hold on pulls, and that’s everywhere, not specific to Alliant.

Also I wish I had the foresight to link my TD account to a high interest savings account instead of a no interest checking :frowning:. The pain to add another account is too great.

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Any idea how long the hold would be on $100k?

I wanted to pull from Alliant because they had a reputation for being fast, or so I thought.

Granted I was kicked out a year ago, but Alliant has never placed a hold on their transfers. It’s why Alliant has been such a popular hub, transfer $100k in on Monday, and you can transfer it out on Tuesday. And while they’ve shown an adversion to such activity, I havent heard that the hold policies have changed any.

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I would just buy short term treasuries at a brokerage. Less hassle.

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FYI gang.

I think they shifted some payments to allow time for “delivery”. I see earlier future dates than what I had schedule before (and shown in history). Not a big deal but I hope they communicate these changes through email for the folks who don’t log in and poke around…

It’s possible I am wrong too but you have been warned! :slight_smile:

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Savings rate up to 2.00% from 1.80% today

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I hope they get back to raising the checking rate.

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I am not sure if that is a big deal considering they have no fee overdrafts.

I just mistimed a $100k ACH to my checking account due to the Monday holiday which I forgot about and it still went through even though the checking account had $0 and the money was sitting in my savings account.

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Wow! I wonder how frequent they will allow such events without doing something. Otherwise, why would anyone keep any money in an Alliant checking account?

I feel like this is the type of thing that gets you on Alliant’s mysterious ban list that gets voted on at the annual meeting every March.

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The $1k minimum balance requirement for the 2.5% on Alliant Cashback Visa Signature Credit Card?

Discover has similar protection for its checking account, which allows you to move funds from savings to checking within a certain amount of time (24 hours?) to avoid any overdraft fees.

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Email from Alliant CU:

We’re putting you first with another rate increase! Enjoy earning more on your money with our new, increased savings rate of 2.20% APY1 starting October 13, 2022.

Discover’s Overdraft Protection Service automatically transfers money, you don’t have to do it yourself within a certain amount of time: