Alliant high-rate checking account certified by banking advocates as safe, affordable

CHICAGO, IL (November 10, 2021)Alliant, a nationwide digital credit union and one of the largest “challenger banks,” announced that its high-rate checking account is officially certified by the Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards.

Certified accounts like the Alliant High-Rate Checking account need to have key features, including no monthly service, overdraft or non-sufficient fund (NSF) fees, the ability to pay bills and make purchases, and federal deposit insurance. Alliant’s checking account also offers a high interest rate, ATM fee rebates, an award-winning mobile banking app and a large ATM network.

“We’re all in and go all-out for our members’ success. That’s why we’re committed to offering great rates, low fees and an excellent digital experience,” said Alliant Chief Digital Officer Sumeet Grover. “We’re proud to say that our flagship checking account is Bank On certified. The Alliant High-Rate Checking account is not only considered one of the best in the market, it’s certified as safe, affordable and reliable by the CFE Fund.”

The goal of Bank On is to ensure that everyone has access to safe and affordable financial products and services. The Bank On National Account Standards identifies critical features for bank or credit union accounts, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs.

“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to the Alliant High-Rate Checking account,” said Jonathan Mintz, president and CEO of the CFE Fund. “Anyone looking to improve their finances can find a safe, affordable, and truly useful digital checking account at Alliant – this is especially important during COVID-19, as consumers need to access and manage their money both affordably and safely. Alliant‘s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”

Alliant has won several accolades, including CNBC’s Best No Monthly Fee Checking Accounts, NerdWallet’s Best Checking Accounts of November 2021, Money’s Best Credit Unions of 2021-2022 – Best Account Fees, and Newsweek’s Best Banks 2021.

As a digital financial institution, Alliant can offer the High-Rate Checking account nationwide. New and existing members can apply for the account at

About Alliant Credit Union (IL)

Alliant Credit Union is a not-for-profit financial cooperative with more than 850,000 members and nearly $19 billion in assets. Alliant was named one of CNBC's Top Credit Unions for 2023 and one of's Best Banks for America. Headquartered in Chicago and founded in 1935, Alliant is the largest credit union in Illinois and one of the largest credit unions in the United States. As an all-digital credit union, Alliant's mission is to provide members with a tech-forward banking experience coupled with consistent, superior financial value while simplifying and enabling how people save, borrow and pay.

About the Cities for Financial Empowerment Fund (CFE Fund)

The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government. By translating cutting edge experience with large scale programs, research, and policy in cities of all sizes, the CFE Fund assists mayors and other local leaders to identify, develop, fund, implement, and research pilots and programs that help families build assets and make the most of their financial resources. The CFE Fund is currently working in over 100 cities and counties, and has disbursed over $52 million to local governments and their partners to support these efforts. For more information, please visit or follow us on Twitter at @CFEFund. 

About Bank On

Bank On coalitions are locally-led partnerships between local public officials; city, state, and federal government agencies; financial institutions; and community organizations that work together to help improve the financial stability of unbanked and underbanked individuals and families in their communities. The Bank On national initiative builds on a grassroots movement of over 85 coalitions in cities across the country, offering national account standards, capacity grant support, pilot funding, and a learning community. In addition to connecting unbanked individuals to accounts, Bank On programs raise public awareness, target outreach to the unbanked, and expand access to financial education. Visit for more information, or follow the conversation on Twitter @CFEFund #BankOn.


Meghan Kelly

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