Kids Savings & Teen Checking Accounts

I want to open accounts for more than one kid or teen. Is each Kids Savings Account or Teen Checking Account I open eligible for the $100 savings bonus?

Definitely! Just make sure you return to this page when you open each account.

Am I eligible for Alliant membership?

Yes! You are eligible for Alliant membership through your employer.

Are existing Kids Savings or Teen Checking accounts eligible for the bonus deposit on a Kids Savings Account or Teen Checking Account they’ve already opened in the past?

No. Because of this unique offer, only Kids Saving Accounts or Teen Checking Accounts opened between May 1, 2024 and July 31, 2024 are eligible for the $100 savings bonus.¹

The joint owner on the Kids Savings or Teen Checking account can be an existing member who opened an account in the past, but the Kids Savings or Teen Checking account must be a new account.

How do I get a Kids Savings Account bonus deposit?

The $100 bonus is automatically deposited into an Alliant Kids Savings Account after you’ve successfully made a monthly deposit of $100 or more for 12 consecutive months. To qualify for the bonus, you must keep a minimum average daily balance of $100 in the Kids Savings Account, and have $1,200 (or more) in the account at the end of the 12-month period.¹ Please note, this is a one-time bonus per child, available only to Alliant members.

How do I get a Teen Checking Account bonus deposit?

The $100 bonus is automatically deposited into the savings account that accompanies the Alliant Teen Checking Account after you’ve successfully made a monthly deposit of $100 or more into that savings account for 12 consecutive months. To qualify for the bonus, you must keep a minimum average daily balance of $100 in the teen’s savings account, and have $1,200 (or more) in the savings account at the end of the 12-month period.¹ Please note, this is a one-time bonus per child, available only to Alliant members.

Can I earn a bonus deposit on each Kids Savings Account or Teen Checking Account I open?

Yes, you can earn a bonus deposit on each kids or teen account you open from this page as long as you meet the monthly deposit and average daily balance requirements for each account (see above).

What is the difference between a regular checking account and a teen checking account?

An Alliant Teen Checking⁶ account must be opened as a joint account with a parent or guardian. It offers many of the same features as our regular checking account, but it offers greater peace of mind for parents or guardians through a variety of controls, including lower debit card limits.

Note: Each Teen Checking Account comes with a high-rate savings account, just like Alliant’s regular checking account. The Teen Checking Account may also earn interest, but you must meet two simple requirements monthly to qualify. If you don’t fulfill each requirement monthly, you won’t earn high-yield checking interest for that month. Requirements include:

Opt out of paper statements and start receiving free eStatements.
Have at least one of the following recurring monthly electronic deposits to your Alliant Teen Checking Account: Direct deposit, monthly ATM deposits or transfers from another financial institution into your Alliant account. Transfers between your Alliant accounts do not qualify as an electronic deposit.

As a joint owner on an Alliant Kids Savings Account or Teen Checking Account, will I be able to view the account in online banking?

Yes, joint owners can view the child’s Alliant Kids Savings Account or Teen Checking Account and savings account once given access. To view Alliant joint account(s) within online banking, the primary account owner must first give access.

You and/or the child or teen should log in to Alliant Online Banking, then click into their account in the left sidebar of the main My Accounts page.

Select “Account Details.”
Select “Manage Joint Owners.”
Select “Manage Online Access.”
Follow the onscreen prompts to select the account(s) your teen would like you to have access to.
Click “Update.”

After the child or teen completes the above steps, you can view his or her checking account by logging into your Alliant Online Banking.

How do I make deposits into a Kids Savings Account or Teen Checking Account?

We’ve made this super easy. Set up one-time or recurring transfers in Alliant online banking and/or the mobile app, deposit checks via mobile deposit, set up a direct deposit from a paycheck, or use a deposit-taking ATM! Internal transfers from an Alliant account will also be eligible.

What happens when a Kids Savings Account holder turns 13?

When the child reaches the age of 13, they will be eligible to apply for the Teen Checking account. Their Alliant Kids Savings Account will remain as a savings account, and any funds in the account will remain in the account unless or until they withdraw or transfer them. The only change is that they will also have the option of applying for an Alliant Teen Checking Account. If they do open a teen checking account, they will then have a debit card that enables them to access both their savings and checking accounts, so that they can easily transfer funds between the accounts.

What happens when an Alliant Teen Checking Account holder turns 18?

An Alliant Teen Checking Account will automatically convert to a regular Alliant High-Rate Checking Account once the accountholder turns 18. The existing joint owner(s) will continue to remain as joint owner(s) unless they are specifically removed by the primary owner. We'll send a new debit card, which should be activated as soon as possible. The debit cards for the teen account should be shredded, as they will be deactivated shortly after the teen's birthday. At account conversion, the daily ATM Debit Card spending and withdrawal limits will be increased to the regular checking account limits.

Are my account funds insured to protect me from loss?

Alliant deposit accounts are federally insured up to $250,000 by the NCUA. To learn the details of funds coverage, visit the NCUA page on the Alliant website.

What if I finish my application and receive a “pending” status?

Have no fear. One of our member care representatives will reach out via phone call or email within 3-4 business days to gather any additional information needed.

1. Kids Savings and Teens Checking Promotion Terms and Conditions (SEGs)

Alliant Credit Union Kids Savings and Teens Checking Promotion Terms and Conditions. This promotion is restricted to new Alliant Credit Union members belonging to one of our Select Employer Groups. For the avoidance of doubt, only new Alliant Credit Union members who are also employees of any of our Select Employer Groups at the time they establish membership will be eligible for this promotion. Your Select Employer Group must be selected at the time of account opening. There is a limit of one bonus per eligible member. Existing Alliant Credit Union members, customers who are joint owners on an existing Alliant Credit Union savings account, and former Alliant Credit Union members or joint owners who closed an Alliant Credit Union membership within 180 days of establishing a new membership are not eligible. Eligible new members will earn a $100 bonus deposit by joining Alliant Credit Union through the Kids Savings and Teen Checking promotion and meeting the following requirements:

Apply for, and open, one new Alliant Credit Union Kids Saving Account or Teen Checking Account between May 1, 2024 and July 31, 2024 using url: https://promo.alliantcreditunion.org/kids-and-teens-banking) Transfer, or Deposit at least $100 per calendar month for 12 consecutive calendar months into the newly opened Alliant Credit Union Kids Savings Account or related Teen savings account;
The initial Transfer or Deposit must be made within 30 days of account opening;
Transfers must be from sources outside of Alliant Credit Union in order to qualify for this promotion; and
Each subsequent transfer or deposit must post to the account by the last calendar day of the month in order to qualify for this promotion;

The newly opened Alliant Credit Union savings account must:

Remain open and in good standing for the duration of the 12 consecutive calendar month qualification period; and
Have a minimum balance of $1200 at the end of the 12 consecutive calendar month qualification period;

Offer valid for one new Alliant Credit Union Kids Saving or related Teen Savings account (“account”) opened from May 1, 2024 through July 31, 2024; funded by transfers and/or deposits totaling $100 or more each month for 12 consecutive months; and opened by applying online at https://promo.alliantcreditunion.org/kids-and-teens-banking

Savings accounts will be reviewed 12 months after the date of the initial transfer or deposit to determine eligibility. If all requirements have been met after 12 months, please allow 6 weeks for the $100 bonus deposit to post to your account. You will be responsible for any tax liability. This promotional offer is not transferable and not valid for trusts, UTMAs, IRAs or other tax-exempt accounts. Limit one offer per new Alliant member. All account applications are subject to approval. You must apply for the account by 11:59 p.m. CT on July 31, 2024 to be eligible. Must be at least 18 years of age at time of application and a legal U.S. Resident or U.S. Person (including a U.S. Resident Alien) to be eligible. Alliant employees are not eligible for this promotion. This promotion is subject to all federal, state, and local laws and regulations and governed by Illinois law. Promotion is sponsored by Alliant Credit Union, 11545 W. Touhy Ave., Chicago, IL 60666

2. APY= Annual Percentage Yield. Comparison based on Alliant Credit Union 3.10% APY as of the 10/24/2024 dividend declaration date vs. the bank national average savings rate of .21% APY as of 5/1/2024 sourced from National Association of Federal Credit Unions in cooperation with SNL Financial and Datatrac Corp.

3. A fee will apply if you choose to receive an account statement in paper form; refer to the Fee Schedule. To avoid the paper statement fee, log in to Alliant Online Banking to change your statement preference to eStatements.

Alliant will rebate ATM fees up to $20 per month per membership account when you use your Alliant Checking Account Visa debit card to make a deposit, withdrawal, transfer or balance inquiry. The rebate does not apply to cash advances from Alliant Visa credit cards through ATMs nor to the Alliant Savings ATM Card and Visa International Service Assessment (ISA) fee, referenced as the foreign transaction fee on account statements. Not all ATMs accept deposits.

Limitations apply. Mobile check deposit requires a camera-enabled mobile device. Data and text charges may apply. Check with your mobile service provider.

4. The savings dividend provides an Annual Percentage Yield (APY) of 3.10%. The APY is accurate as of the 10/24/2024 dividend declaration date. Dividends are paid on the last day of the month to accountholders who have maintained an average daily balance of $100 or more. Savings dividend may change after account is opened and is subject to change at any time. Dividend applies to Savings, Supplemental Savings, Emergency Savings, Kids Savings Accounts, UTMA Custodial Accounts, Trust Accounts and IRA. Fees may reduce earnings on the account.

5. Transactions performed at other ATMs may be subject to the ATM owner’s surcharge fee. Please see the online ATM Locator at www.alliantcreditunion.com or our mobile banking app for a list of ATMs that accept deposits or are surcharge-free. Not all ATMs accept deposits.

6. APY=Annual Percentage Yield. Alliant High-Rate Checking Dividends are paid on the last day of each month to checking accountholders who have opted out of receiving paper statements (receive eStatements only) and have a recurring monthly electronic deposit to their Alliant checking account each month (e.g., a direct deposit, payroll deposit, ATM deposit, mobile check deposit or transfer from another financial institution). Otherwise, Alliant checking accounts do not earn a dividend. The 10/30/2024 High Rate Checking dividend provides an Annual Percentage Yield (APY) of 0.25% APY. The APY is accurate as of the 10/24/2024 dividend declaration date. Checking dividend may change after account is opened and is subject to change at any time. There is no minimum balance requirement to earn a dividend. Account is subject to approval. We may not open checking for you if you do not meet Alliant criteria.

Make finances a family affair

Earn a $100 bonus for each child with Kids Savings and Teen Checking¹

Kids Savings

(Ages 12 and under)

Teen Checking

(Ages 13-17)

Here’s how to earn a $100 bonus…

1

2

3

Apply for an account bonus.

Show kids how easy it is to save.

Receive notification when bonus deposited.

Show kids the power of saving

with a savings interest rate 15x the bank national average², plus

24/7

account access with online banking or mobile app

80K+

fee-free ATMs nationwide⁵

$0

in monthly fees if you elect eStatements³

Why savers choose Alliant

Best Savings Accounts: Kids and Teens

Best Savings Accounts: Kids and Teens

Best Savings Accounts: Kids and Teens

USA Today

CNBC

Investopedia

Frequently Asked Questions