Alliant Credit Union Boosts Dividend rateto 3.25%
CHICAGO - (07/01/05) For the second straight quarter,Alliant Credit Union has boosted its quarterly savings dividendrate, this time to 3.25%with a compounded APY of 3.29%. Thedividend is paid to members with savings of $100 or more. Alliantsaid that research by DataTrac shows it pays more on savingsdividends than many banks are paying on CDs. It saidDataTracs research also showed that of 16,622 institutionsnationwide, in mid-June banks were paying on average 0.57% on acomparable savings account, and 2.84% for a one-year CD with a$10,000 minimum. Like most market-watchers, explainsMooney, we expect the Federal Reserve to continue its policyof increasing short-term rates, and continue to believe thatAlliants regular share accounts will offer the best valueover time, said David Mooney, CEO of the $4.5-billion creditunion.