Alliant CU CD Rates

By: EconomyWatch Content Team   Date: 6 July 2010

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Some people may ask why they should open a certificate of deposit account. Your response to that should be, why not? If you wish to save money and invest money then with a CD you have chosen very well. The Federal Deposit Insurance Corporation (FDIC) got its start in 1933. Ever since it began certificates of deposit have been guaranteed by the corporation. Up until 2009 the FDIC guaranteed CDs for up to the amount of $100,000. Until December 31, 2013 they will ensure all CDs up to the amount of $250,000. Once 2014 begins the amount will revert back to $100,000.

The Alliant Credit Union (CU) offers a selection of certificates to its many customers. There are regular certificates, jumbo certificates and health savings account certificates (HSA) .The current Alliant CU CD rates are as follows:

•    Regular certificates- Interest rate of 2.862%, APY of 2.90%
•    Jumbo certificates- Interest rate of 2.960%, APY of 3.00%
•    Health Savings certificates- Interest rate of 2.472%, APY of 2.500%

APY stands for annual percentage yield. The Alliant Credit Union has a special name for its certificates. It calls them Alliant certificates. The rates offered by Alliant are flexible and competitive. Take a look at the rates offered by other banks and credit unions and you will see that Alliant has above market certificate of deposit rates.

A CD at the Alliant CU can be opened with a small balance of $1,000. That is the case for the regular certificates and the health savings ones. On the other hand you need more money to open a jumbo certificate- you can open an account with $25,000 or more.

After you have chosen the certificate that is most suitable for your life and your budget you then need to decide upon the term for it as well as the maturation date. You then need to lock in the Alliant CU CD rate. You will lock in the rate at the same time that you open the certificate of deposit (CD).

It is important to bear in mind that the dividends that will come your way as an Alliant CU customer will be compounded monthly. They will also be compounded at the maturity date for the CD. Once this date rolls around you can withdraw your money, transfer it into another
 account you have with the Alliant Credit Union or transfer it into an IRA. Or if you prefer you can do nothing and allow the certificate of deposit to turn into a new one.To learn more about Alliant CU CD rates visit the website found here- http://www.alliantcreditunion.org/services/rates/.


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