[Expired] (Targeted) Alliant Credit Union $400 Checking, Savings & CD Bonus For New Or Existing Members (Code FASTPASS)

Update 2/17/23: Alliant has confirmed with us that this is only for select employers. (We weren’t able to clarify which ones but presumably does not include the default Foster Care to Success membership.)

Update 2/7/23: Two readers are hearing from Alliant that this promo is only for select employers. No one can seem to get Alliant to disclose which employers are actually included.

Offer at a glance

Maximum bonus amount: $400 (max $300 for existing Alliant members)
Availability: Nationwide, new or existing credit union members
Direct deposit required: No
Additional requirements: See below
Hard/soft pull: Soft
ChexSystems: Yes, some reports of chexsystems sensitivity in the comments but lots approved as well
Credit card funding: None
Monthly fees: None with eStatements
Early account termination fee: $10 if closed within 90 days
Household limit: None listed
Expiration date: March 31, 2023

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer (see our verdict, below)

Alliant Credit Union is offering a bonus of up to $400 for new members:
1. Open a savings account by March 31, 2023 plus have a minimum $1,000 savings average daily balance on April 30, 2023 to earn a $100 bonus.
2. Open a checking account by March 31, 2023 plus have a minimum $100 checking average daily balance on April 30, 2023 to earn a $100 bonus.
3. Open a certificate by March 31, 2023 plus maintain a minimum $1,000 certificate balance on April 30, 2023 to earn a $100 bonus.
4. Deposit a minimum of $10,000 total across any of these three accounts by March 31, 2023 and maintain this minimum balance until April 30, 2023 to earn a $100 bonus.

Current Alliant members can still earn up to $300 in bonuses by completing steps 2, 3 and 4! For step 4, you can qualify to earn the $100 bonus if the combined balance of your savings, checking and certificate accounts on April 30, 2023 is $10,000 or more than the combined balance since January 18, 2023. Use promo code FASTPASS to get started.

The Fine Print

Did I open my account(s) correctly to be eligible for the promotion? If you opened your Alliant account(s) by clicking on the link within a promotional email you received or the myalliant.com/fastpass webpage, you will be eligible for the promotion.
This promotion is for new and existing members of Alliant Credit Union (“Alliant”) who are current or retired employees from one of the many businesses and organizations Alliant partners with in the U.S. These eligible new and existing members must open an Alliant Checking, Savings, or Certificate Account (“Account”) and meet the following requirements to receive the following rewards: a) $100 bonus deposit for opening a savings account by March 31, 2023 and maintain a minimum average daily balance of $1000 through April 30, 2023, b) $100 bonus deposit for opening a checking account with minimum $100 balance requirement and high-rate checking requirements (listed below) by April 30, 2023, c) $100 bonus deposit for opening a certificate account and d) $100 bonus deposit if member has a combined balance of $10,000 across all products by April 30, 2023. Customers who closed an Alliant Checking, Savings within 180 days of applying for the new account are not eligible for this promotion.
New and Existing Members can use the promo code “FAST Pass” to apply for the promotion. New Account must be opened by applying online at myalliant.com/FASTPASS or by phone at 800-328-1935 and mentioning “Fast Pass Promotion” from January 18, 2023, through March 31, 2023. New Savings Account must have a minimum balance of $1000 by March 31, 2023 and maintain this minimum average daily balance through April 30, 2023. New Checking Account must have minimum average daily balance of $100 and qualify for High-Rate Checking by opting into eStatements and having at least one monthly electronic deposit to the checking account (direct deposits, payroll deposits, ATM deposits, mobile deposits and transfers from another financial institution all count) by April 30, 2023. All accounts must remain open and in good standing. Accounts must be opened by March 31, 2023. Accounts will be reviewed on April 30th, 2023 to determine eligibility for the bonus deposits. Only one $100 bonus per product will be provided and a maximum of $400 bonus payout will be provided if all requirements are met.
If all requirements have been met, please allow up to 4-6 weeks for the bonus deposits to post to your Alliant Savings Account. You will be responsible for any tax liability. Offer is not transferable and not valid for trusts, UTMAs, IRAs or other tax-exempt accounts. Limit one checking, saving, and certificate account promotional offer per Alliant member. All Account applications are subject to approval. Alliant Teen Checking Accounts are not eligible for this promotion. You must apply for the Account by 11:59 p.m. CT March 31, 2023, to be eligible. All Alliant Checking Accounts come with an Alliant savings account as part of Alliant Credit Union membership. Must be age 18 or older at time of Account opening, and a legal U.S. Resident or U.S. Person (including a U.S. Resident Alien). Alliant employees are not eligible for this promotion. This promotion is subject to all federal, state and local laws and regulations and governed by Illinois law. Promotion is sponsored by Alliant Credit Union, 11545 W. Touhy Ave., Chicago, IL 60666.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees as long as you opt for eStatements.

Early Account Termination Fee

There’s a $10 early termination fee if the account is closed within 90 days. (pdf link)

Our Verdict

Overall it’s a nice $300 in bonuses if you’re ready to tie up $2,100 for around 1 month, or $400 in bonuses for tying up $10,000 for 1 month. Alliant’s savings rate isn’t great at 2.70% APY when compared to other High Yield savings accounts. Their CDs look more competitive at 4.60% APY. Regardless you only need to leave the funds there for one month to get the bonuses.

The fine print states: “members who are current or retired employees from one of the many businesses and organizations Alliant partners with in the U.S.” This throws me off a bit, but I believe it just means that you need to be part of one of the eligible partners which would include the free way anyone can join Alliant via Foster Care to Success (FC2S). A reader confirmed this with Alliant as well. And another confirmation here.

I’m not sure if there’s any way to stack this $400 bonus with the $100 Suze Orman bonus. Other than that bonus and some (expired) Swagbucks offers, we haven’t other public bonuses from Alliant in the past many years. Some readers might already be members from signing up for Alliant credit cards, but if you’re not already a member then this is a nice time to join. We’ll add this to our list of Best Bank Bonuses.

I’m confused how this all works for existing Alliant customers. The verbiage shown seems to be assuming an existing Alliant customer who has just a savings account and now opens a new checking account and CD using promo code FASTPASS. They can get $100 for each of those accounts, and if they meet the $10,000 requirement they’ll get an extra $100 for a total of $300. But an existing Alliant customer who already has both checking savings will probably just be able to get $200 in bonuses for step 3 and 4. When an existing customer adds an account, there’s a field where you can input the promo code.

Hat tip to readers Daniel and Emery

Useful posts regarding bank bonuses: