Alliant Credit Union Review: Is This Company Legit?

Alliant Credit Union is a leading provider of banking services and competitive products, serving its 700,000+ members nationwide for over 85 years. It offers a full suite of banking services, including savings and checking accounts, loans, credit cards, and more. You can learn more about Alliant Credit Union and its products and services at alliantcreditunion.org.

Do you need a personal loan but don’t know where to turn? Alliant Credit Union could be the right choice for you. This article takes a closer look so that you can make an informed decision about whether or not this company is right for you.

These are some interesting things that you can find while investigating their website and reading their terms and conditions:

• Loans are not available to non-members or members who have not been established for at least 90 days.
• Personal loan rates range from 10.49 % to 12.49 %.
• It offers loans from $1,000 to $50,​​​​​000.
• Terms range from 1 to 5 years.
•  APR can be 0.4% higher without an automatic payment option. 
•  Rates, terms, and conditions are subject to change.

Alliant Credit Union: What Is It?

Alliant Credit Union is a one-of-a-kind not-for-profit financial cooperative where everyone is an owner. With over 85 years of experience and $17 billion in assets, Alliant offers its 700,000+ members a wide range of competitive products and services across the United States.

They have been accredited by the Better Business Bureau since 2004 and maintain an average of 56 customer reviews and 130 complaints closed in the last 3 years. The company is headquartered in Chicago, at 11545 W Touhy Ave. Their main phone number is (773) 462-2000.

How Does This Company Work

Alliant Personal Loans are a convenient way to get the cash you need, without having to put up any collateral. These unsecured signature loans can often be approved quickly, and you may even receive your funds on the same day. Loans from Alliant can help you take control of your finances by consolidating other loans, paying for unexpected expenses, or funding home improvement projects. 

Qualifying Process

 There are a few things you should know before applying. First, loans are not available to non-members or members who have not been established for at least 90 days. A member is considered established when they have been a part of the credit union for at least 90 days. 

Secondly, loan approval and APR rates are based on many factors like credit score, employment history, and monthly income. The better your credit score, the more likely you are to get approved for a low APR.

Alliant Credit Union BBB Reviews

Alliant Credit Union is one of the best financial institutions according to the Better Business Bureau. They boast an A+ rating and have been accredited since 2004. Even though they get a lot of positive feedback from customers, they also have had their fair share of complaints. In the last three years, 130 complaints have been filed against them with a 1-star out of 5-star rating.

Here are some reviews:

Usha C. 09/03/2022

ALLIANT IS HORRIBLE I have two auto loans with Alliant both loans in my name with my children. Now I wanted to pay for loans we are on the phone hold for 43 minutes, Alliant employee comes on the phone asking SECURITY questions, question was HOW YOU BECAME MEMBER OF ALLIANT? So I replied we get an auto loan from Alliant, so I failed the SECURITY question and she refused to help me. Very senseless questions and you failed SECURITY questions.

I will ***** who introduced to me Alliant. Alliant is completely out of any state regulations and needs to fix. Also, the loan was in my name still I am considering a third party. I request for supervisor the employee of Alliant was so rude and refused to help me with our help I was on the phone1.54 minutes. The supervisor should fix this 1 STAR CUSTOMER SERVICE Worse customer service I never dealt in my life like this. I hope other people read this and help them with this honest review.

Mike N. 06/27/2022

The process to secure a mortgage loan from Alliant was dismal, to say the least. We had to go through 3 different loan officers because some were terrible at communication or they had quit their job. They never picked up the phone or answered emails. They barely made it on time to make the closing. In addition, I am trying to create a profile on their app so I can make my monthly mortgage payment.

I called the service number and they were completely rude. They were unable to help me make an account on their app and told me to call back. I asked how is calling back going to help and if you can’t help now. They replied I don’t know. Avoid Alliant as much as possible. They have poor values and communication.

Brad T 09/10/2021

Horrible customer service. Borders on predatory loan practices. I have paid my car off twice and still don’t have a title to show for it. They still say I have a balance, third time!

Alliant Credit Union FAQs

How Much Do They Charge?

Alliant offers a way to save money on interest and fees by setting up automatic payments for your loan. Be sure to keep an eye out for changes in rates, terms, and conditions so that you can take advantage of the savings

A loan with a 10.49% interest rate and a 12-month term would have monthly payments of $88.14 per $1,000 borrowed. This example demonstrates how the interest rate and term length affect your monthly payment amount.

Please note that the payment amount provided is only an estimate. Your actual payment may be higher or lower, depending on special qualifying rates and your individual loan terms. Also, keep in mind that Alliant’s refinancing rates are 1% higher than the standard rates.

Do They Charge Pre-Payment Penalties?

Alliant Credit Union members can save money by paying off their loans ahead of schedule without incurring any prepayment penalties. 

Does Alliant Credit Union Affect Your Credit Score?

Your credit score will not be impacted by simply viewing your loan rates. However, moving forward with a loan after seeing your rates will require a full credit report inquiry- which can cause your credit score to drop. This type of inquiry is visible to third parties and can negatively impact your score.

How To Cancel Their Services

Alliant Credit Union offers loans with many different terms and conditions. Before you agree to take out a loan, be sure to read and understand all the terms and conditions associated with the loan. Remember that once you receive the money, you cannot cancel or reverse the loan, so make sure that a loan is the right choice for you before proceeding.

Do you find yourself constantly struggling to make ends meet? Here are some tips that may help you get back on track.

Here are some things you can do to make sure you stick to your budget:

• Creating and sticking to a budget is a great way to stay on track.
• Speaking to a financial advisor is a great way to understand your options and develop a plan that works for your unique circumstances. A good advisor will be able to help you figure out what steps to take in order to achieve your financial goals.
• Don’t worry about being in debt. Many companies work with customers to create manageable payment plans. So reach out to their customer service team for more information. You can get help managing your debt so it’s not as overwhelming.

There are many things to consider before taking out a loan. Compare rates and terms from different lenders, and read customer reviews to get the best deal. Borrow only what you can afford to repay so that you don’t end up in over your head.

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