Don’t rely on luck, save more at a credit union

Credit unions operate differently from other financial institutions. Instead of having to answer to stockholders, they answer to their members, which allows credit unions to give back more per member than larger banks.

In fact, in 2024, Alliant members received an outstanding annual benefit of $493M —over $900 per core member—simply due to this model.

This spring, don’t rely on luck for your financial wealth. Instead, learn how a credit union can help you save more.

What you’ll learn

• High-rate savings accounts: Better growth without the luck
• Certificates: Where Strategy Beats Luck
• Fraud protection: Don’t leave your safety up to luck

High-rate savings accounts: Better growth without the luck

Stop settling for small savings at traditional big banks. Instead, look at high-rate savings accounts at a credit union, such as Alliant, to help grow your savings more quickly—no luck needed.

High-rate savings accounts offer higher interest rates than traditional savings accounts, potentially offering an annual percentage yield (APY) of 15 times or more⁷¹. This means your savings will grow more quickly instead of sitting in a traditional account, likely making pennies each year.

High-rate savings accounts are also a safe way to grow your money while keeping it accessible. They are a great place to keep emergency funds since you will always have access to your money if needed, but it will continue to grow and increase in value until then.

Certificates: Where Strategy Beats Luck

If you have extra savings that you know you won’t need for a while and wish to try and grow your savings even more than a high-rate savings account, a certificate from a credit union is a safe bet. Certificates range in terms, from three months to 60, with various rates, so you can pick a term that works best for your timeline.

A great strategy to make certificates work for you is certificate laddering. This allows you to earn higher rates while maintaining liquidity so that you can easily access the funds if you need to. For example, if you had $30,000 to invest in certificates, you could invest them in three different certificates at various terms. You could invest $10,000 in a one-year, two-year and three-year certificate. When each certificate matures, reinvest it (if you can) in another three-year certificate. After year four, each certificate will be earning the benefit of a three-year certificate, yet you will still have access to your money in one of the certificates each year without penalty. This is a great way to keep your money growing without fully investing and losing access to it.

Fraud protection: Don’t leave your safety up to luck

Credit unions, such as Alliant, also have top-notch security, so your money is safe while it grows. With fraud monitoring tools, such as opting into text alerts for your Alliant debit or credit card, you can always stay in the know if there is any suspicious behavior taking place with your accounts.

The NCUA insures credit unions up to $250,000 – which is the same protection as banks have under the FDIC.

We all wish we could have a little extra luck, especially when it comes to our financial situation. However, with a credit union membership, you can know your money is safely growing without uncertainty. Don’t leave growing your savings up to chance; instead, discover how a credit union differs from other traditional financial institutions in ways that will help you grow your savings.