CHICAGO–Alliant Credit Union, which describes itself as one of the largest "challenger financial institutions," has launched a Socially Responsible Checking Account.
The credit union said new and existing Alliant members are eligible to participate in the related promotion, which provides qualifying members with a $100 bonus deposit and a matching $100 charitable donation from Alliant when they open a new Alliant High-Rate Checking account between Aug. 22 and Oct. 7, 2022.
After opening the account, members will be prompted to select one of three non-profit organizations to benefit from Alliant's matching donation, including Alzheimer's Association, American Cancer Society or Easterseals, Aliant said. The credit union has pledged up to $500,000 in combined charitable contributions from this promotion.
"One of Alliant's three company pillars is social responsibility. This promotion is a great way for us to not only demonstrate our commitment to our members, but also to the non-profit organizations and resources that are available to support them and their communities," said Meredith Ritchie, Alliant Foundation board member and SVP, general counsel and chief ethics & government affairs officer.
A Focus on Social Responsibility
Alliant said its focus on social responsibility has been emphasized through various initiatives, including its digital inclusion initiative to support the need for broadband access, technology equipment and technology education, overdraft fee elimination for checking and savings accounts, and higher interest rates on certain deposit products.
"At Alliant, we really do pride ourselves as being a members-first organization. Our goal with this promotion is to increase awareness of our High-Rate Checking Account and its many perks while simultaneously giving back to these vital organizations," said Chris Moore, director of deposits and payment strategy at Alliant.
The $17-billion Alliant said its High-Rate Checking Account provides members with no monthly service fee, no overdraft fees, no monthly minimum balance requirements, and a competitive high-rate of 0.25% APY. Account owners also receive up to $20 per month in ATM fee rebates, and have $0 liability on fraudulent charges.
To be eligible for the Socially Responsible Checking Account promotion, consumers must open their account by applying online at myalliant.com/good22 and funding the account with $100 or more.
Other Requirements
In addition, Alliant said that each month after opening the account and through Feb. 28, 2023, members must:
- Maintain a minimum daily balance of $100
- Qualify for High-Rate Checking by opting into eStatements and having at least one monthly electronic deposit to the account.
The bonus will be provided 4-6 weeks after requirements have been met, the credit union said.
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