A Year in Review: Wowing Our Members

Unlike big banks, Alliant caters to its members, not shareholders, through lower fees, better rates and a personalized member experience. As a fully digital credit union, Alliant has some of the lowest operating expenses in the financial industry—just 1.24%—which means we can give back more to our members than our competitors.

With our focus on providing member value, our members received an outstanding annual benefit of $493M in 2024—over $900 per core member! Dividends paid to Alliant members also soared to $569.30, a 30% increase from 2023. While these numbers are momentous, we've also enhanced our member experience by updating features and giving back to our community.

2024 was a transformative and successful year, and we are excited to release our 2024 Annual Report! 

What you'll learn:

• Enhancing the member experience
• Disrupting banking norms
• Giving back to the community
• Looking forward to 2025

Enhancing the member experience

In June of 2024, Alliant announced its new mission statement:

"Alliant is unlike any other financial institution – a digital credit union that wows our members. We're boldly disrupting banking norms to do good for our members, employees and communities."

Alliant lives by this statement, and each day, our team strives to do good for our members in many ways.

Here are some highlights of how we did that in 2024:

• Enhanced member support: Efficiency strategies resulted in a 20% improvement in customer service operations. Alliant's Member Care team has improved its call handling efficiency by 4.4%, which resulted in 39,000 more successful member interactions. The team continues to increase its ability to serve our members by reducing call times by an average of 60 seconds – giving 1.5 million minutes back to our members.
• Banking made easy: Alliant has made banking more convenient for our members by simplifying the process for funding certificates. We also introduced prequalification capabilities for credit cards and home equity loans, which allows members to see what products they qualify for without a hard credit pull, and digital card integration with mobile wallets.
• Investing in select Employer Group (SEG) partnerships: Alliant partners with many employers to provide financial wellness resources. In 2024, Alliant introduced new content and resources such as workshops, webinars, online resources and a new SEG "Insider" service to share information on our latest product offerings and services.

Disrupting banking norms

As the largest fully digital credit union, Alliant is not new to disrupting banking norms. It’s one of the best things we do! In true Alliant fashion, this year was full of enhancing our member's digital banking experience.

Here are some ways we boldly disrupted banking norms in 2024:

• Seamless mobile account opening: You can now open checking, certificates, SuperSaver and Visa accounts straight from your mobile app—simplifying the application process!
• Accelerated and accurate wire transfers: Now automatic, your wire transfers will have faster processing times and improved accuracy.
• Digital card features: Seamlessly add debit and credit cards to your mobile wallets for convenience and efficiency.

Giving back to the community

Alliant supports your community, and our work to provide digital opportunity is a highlight for the Alliant Foundation. Annually, Alliant, along with the Alliant Credit Union Foundation and PCs for People, hosts two electronic drives where employees, members and community members can drop off used electronics. In 2024, we collected over 15k lbs. of laptops, tablets, smartphones and other computer components. PCs for People will then strip the device of all information, refurbish it and provide it at a low cost to those in the community.

Alliant also distributed over $1.6 million to 15 organizations nationwide through the Million Dollar Challenge to help promote digital opportunity. This funding supported events such as Compudopt Digital Life Celebration, where Compudopt distributed 173 laptops and 128 high-speed internet devices to families needing digital access.

Looking forward to 2025

With 2024 behind us, Alliant is excited to continue its growth in 2025 and beyond. We are excited about all our upcoming initiatives, such as re-platforming our digital services and enhancing risk-adjusted returns and diversity exposure. We will strive to continue wowing our members and giving back through lower fees, better rates and a personal member experience.

To read the full 2024 Annual Report, click here.