CHICAGO–Alliant Credit Union, which describes itself as a “digital credit union and one of the largest challenger banks," said it is extending The Ultimate Opportunity Savings Account in partnership with personal finance expert Suze Orman after members deposited nearly $300-million in its first year.
“This number will grow in 2022 as these new members have made monthly savings part of their healthy financial regimen,” Alliant CU said.
The account is designed to get people into the habit of saving and reward them with a $100 bonus, according to Alliant CU. Once people open their new high-rate savings account and deposit at least $100 a month for 12 consecutive months, Alliant will deposit a $100 bonus if the account has a balance of at least $1,200 at the end of the 12 months, the credit union added.
As the first account holders begin to reach the milestone, Alliant said it has already paid them half-a-million dollars in bonuses.
Meeting Big Financial Goals
"At Alliant, we want to help savvy savers plan for their big financial goals in a rewarding way," Alliant CEO Dennis Devine said.
Added Orman, "I am thrilled to partner with Alliant on this promotion again in 2022. We've proven that people who practice the art of saving stick with it."
In addition to the bonus, the $15-bilion Ultimate Opportunity Savings account holders also get a highly competitive deposit rate, no monthly fee if they sign up for eStatements, and an award-winning account.
"These new members are joining a digital credit union that can maximize their money in ways big banks can't," Devine said. "Our members are our owners and we measure our success by what we give back to them. Because we put our members first, we're one of Business Insider's Best Banks of 2022, CNBC's Best Credit Unions, and Bankrate's Best Banks and Credit Unions for Mobile Banking of 2021."
Alliant Credit Union has more than 620,000 members.