Alliant Credit Union Eliminates Overdraft Fees Business and finance



CHICAGO – (BUSINESS WIRE) – August 2, 2021–

Today Allying, an award-winning digital credit union, has announced it will eliminate overdraft fees and insufficient fund fees on all checking and savings accounts, making it one of the largest financial institutions to do so.

This change is the latest in a long line of member-focused Alliant initiatives, putting the challenger bank in stark contrast to many for-profit financial institutions that, over the past decade, have collected more fees. that they have not paid interest. .

“Alliant has never relied on fees, unlike other banks and financial institutions. Today we are doing everything for our members and eliminating all overdraft fees, ”said Dennis Devine, President and CEO of Alliant Credit Union. “Our top priority is doing what is in the best interests of our members, which means challenging historical norms such as overdraft fees and insufficient funds.”

Alliant has always defied banking standards by offering its members great rates, low fees, and an intuitive digital banking experience that have earned it a series of accolades, including CNBC’s Best No-Fee Checking Account, Business Insider’s Best Banks and the best online from NerdWallet. banks of 2021.

Devine, who joined Alliant last summer, noted that overdraft fees place an additional financial burden on people who are already struggling with financial worries or an accident. To resolve this disparity, Alliant took the simple, member-centric path: eliminating fees. The credit union differs from other institutions that have simply lowered fees or added other complex services (but ultimately still charge overdraft fees).

“We are proud to be able to completely eliminate these fees on all accounts while maintaining our favorable rates,” said Devine. “We intend to put customers first at every opportunity, and this is an important step. Alliant is unique in its simple, member-centric approach: no overdraft fees or insufficient funds, period.

About Alliant Credit Union

Chicago-based and founded in 1935, Alliant Credit Union is one of the 10 largest credit unions in the United States with over 600,000 members and over $ 14 billion in assets. As a digital credit union, Alliant’s mission is to provide its members with ever greater financial value while simplifying and enabling people to save, borrow and pay. Learn more about alliancecreditunion.org. Insured by NCUA.

Katie Pins Levene, Public Relations and Content Specialist, Alliant Credit Union, [email protected], (773) 580-9507

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: FINANCING OF PROFESSIONAL BANKING SERVICES

SOURCE: Alliant Credit Union

Copyright Business Wire 2021.

PUB: 08/02/2021 13:03 / DISC: 08/02/2021 13:03

Copyright Business Wire 2021.


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