Alliant CU Again Hikes Share Deposit Rate (3.5%)
As it marks its 70th birthday, Alliant Credit Union provided its members with a gift-a boosted quarterly savings dividend rate of 3.50% (with a compounded APY of 3.55%) for members who maintained an average daily balance of $100 or more. The credit union said research showed it is the highest rate in the market, and is Alliant's third consecutive dividend rate increase, topping the 3.29% APY announced in June. "This latest dividend represents a significant premium over other credit unions' common-share accounts," says David Mooney, Alliant CEO and president.
"We're able to increase our dividend rate for the third consecutive quarter due to expense management and strong revenue growth, which allows us to continue to offer to our members the best value." Mooney said the $4.5-billion credit union expects to add more than 18,000 members this year.