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Credit unions vs. banks: believe it or not factThank you for doing business with Alliant. We valueyour membership, and you’re in good company. In all, 96million Americans belong to a credit union and 277,000are Alliant members. Alliant, with assets of more than$8.2 billion, is the sixth largest U.S. credit union. We arealso the fourth largest U.S. credit union when it comesto writing mortgages.

Credit unions, compared to banks, generally offer higheryields on savings, lower interest rates on loans – plus theycharge fewer and less expensive fees, according to theCredit Union National Association (CUNA). Yet mostpeople still rely on banks as their primary financialinstitution. Here are some facts about the situation.

• Today,only50%oftheU.S.publiccannameacreditunionthat’slocatedneartheirhome.Andonly20%ofAmericans know what a credit union is, according to theNational Credit Union Administration.

• Peopletrustcreditunionsmorethantwiceasmuchasbanks:62%trustcreditunionsand28%trustbanks,according to a 2012 study by the Chicago Booth/Kellogg

School. For 21 years, the American Banker newspaperconducted an annual consumer satisfaction studycomparing banks, thrifts and credit unions. Guess whocame out on top each year? Credit unions. Little wonderthispublicationstoppeddoingthesurveyin2005.AtAlliant, according to our June 2013 member servicesurvey,71.4%ofourmembersare“verysatised”or“satised”withus.

•Intermsofmarketshare,bankshave93.3%comparedto6.7%forcreditunions.Atyear-end2012,bankshad14x more assets than all U.S. credit unions combined,accordingtoCUNA.(Atyear-end2011,therewere7,351creditunionsoperatingintheU.S.,accordingto

Bankrate.com.)Putanotherway,thefourbiggestU.S.banks(JPMorganChase,BankofAmerica,WellsFargo

and Citigroup)have more assetsthan all the U.S.credit unions puttogether. Each of these four bankscontrols total

assets in excess of $1.25trillion.Asthe big banks con-tinue their questfor market share, it is they, not credit unions, which athreatening small banks (in the same way small retaiget squeezed out when a big chain superstore comes town), according to Economist magazine.

• SincetheGreatRecessionstartedin2007,nearly24million checking account customers have bolted frombig banks to small banks and credit unions, accordintotheeconomicresearchrmMoebsServices.On September 29, 2011, Bank of America announced it

wouldchargecustomers$5eachmonthforusingthedebit cards. (Wells Fargo, shortly afterward, announa $3 monthly debit card fee.) Fed up with fees, a womsuggesteda“BankTransferDay,”encouragingbigbcustomers to switch their accounts to credit unionsbyNovember5,2011.Thiscalltoactionresonated,promptingatleast650,000peopletojoincreditunioduring that time period, according to Huffington Po

• Unlikesomebanks,creditunionsarecarefulmortgalenders. Historically, credit unions have focused ontraditional, conforming loans, and they continue thafocus today. Credit unions originated comparativelyfew of the subprime, toxic mortgages that triggered trecession, according to CUNA.

• In2008,UncleSambailedoutbanksandothernanserviceproviderstothetuneof$259billion,includin$25billioneachforWellsFargo,JPMorganChaseandCitiGroup–and$15billionforBankofAmericToday, big banks are also asking for a political handobylobbyinggovernmenttoremovethenot-for-protexemption for credit unions.

If you want to learn more about the creditunion tax exemption and help preserve it,then visit DontTaxMyCreditUnion.org,where you can watch an educational videoand take action to email your members of Congress.

ww.alliantcreditunion.org a newsletter for Alliant Credit Union members July 201

members circle

contents

Credit unions vs. banks: believeit or not facts

Traveling with your credit card

Enjoy the benefits of Alliantmembership for as long asyou like!

Banks

28%

 Who do people trust?

Credit Unio

62%

 Ba n ks

 9 3. 3 %

 C r e d  i t   U n

  i o n s

  6 .  7  %

 Who has themarket share?

Sources: The Wall Street Journal , cuna.org, cutimes.com, creditunions.com,gobankingrates.com, dailyfinance.com, money.cnn.com and npr.org

DIVIDEND

August Savings Dividend

ECLARED JUNE 27, 2013

he August 2013 Savings

nd IRA dividend, declared

6/27/2013, provides a Compounded

Annual Percentage Yield of

0.70% APY

 

ividends are paid on the

ast day of the month to

ccountholders who have

maintained an average daily

alance of $100 or more.

avings dividend is subject to

hange monthly.

August Checking Dividend

DECLARED JUNE 27, 2013

The August 2013 High Rate

Checking dividend, declared

06/27/2013, provides a Compounded

Annual Percentage Yield of

0.65% APY 

Checking dividends are paid on

he last day of each month to

accountholders who meet the

equirements of the account.

Checking dividend is subject to

change monthly.

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Did you know that once you become a member o

Alliant Credit Union, you’re always a member? T

right. When you join Alliant, you’ll be able to enj

the exclusive benefits of Alliant membership, sucas great savings rates and loan rates, for the res

your life.

Once you’re a member, you won’t lose your Allia

membership if your company merges with anoth

company, if you go to work for another company,

you’re between jobs, if you retire or move your p

of residence. And that goes for your family mem

who belong to Alliant, too. Alliant is committed

to help you achieve and maintain your financial

well-being, now and in the years ahead.

fice closingsnt will be closed in observance

e following holidays:

or Day –nday, September 2, 2013

umbus Day –nday, October 14, 2013

venient 24/7/365 account accessOnline banking at

www.alliantcreditunion.org

Mobile banking app for

Android ™,  iPad®, iPhone® andPod touch®

Member Contact Center

at 800-328-1935

Self Service Telephone

at 800-482-5328

Over 80,000 surcharge-free

ATMs nationwideid is a trademark of Google, Inc. iPhone, iPad andouch are registered trademarks of Apple, Inc.

dial direct: Alliant is there when you need us

POBox66945,11545W.TouhyAvenue

Chicago,IL60666-0945

www.alliantcreditunion.o

NEW2

For Alliant Branch locations, AlliOnline Banking, and product and

information, visit our website:www.alliantcreditunion.orgThis newsletter is for members’ personal use only. Reand/or selling the contents of this newsletter without permission from Alliant Credit Union is proh ibited. CoArticles are prepared as an educational service for AThey should not be relied on as a substitute for individor legal research. Articles in this newsletter are not inused (and may not be relied on) for penalty avoidance

Alliant Retirement andInvestment Services

Financial consultants are available to serve members in all states.

Call 800-328-1935, option 9.

Deposits/PaymentsPO Box 2387

Des Plaines, IL 60017-2387

Credit Card PaymentsPO Box 1666

Des Plaines, IL 60017-1666

All Other Correspondence andIRA and HSA depositsPO Box 66945, Chicago, IL 60666-0945

Mortgage Hotline800-328-1935

Press option 5, then option 1Mon–Fri, 8am–5pm CT

Auto/Home Insurance888-380-9287

Mon–Fri, 6am–10pm CT

Sat, 6am–8pm CT

GreenPath® Debt Solutions877-337-3399

Mon–Thur, 7am–9pm CT

Fri, 7am–6pm CT

Sat, 8am–5pm CT

Alliant Headquarters11545 W. Touhy Avenue

Chicago, IL 60666

Member Contact Center800-328-1935

24/7 personal assistanceTDD /TTY 773-462-2300

Self Service Telephone (SST)800-482-5328

24/7 automated account access

VISA® Debit Card800-328-1935

VISA® Credit Cards24/7 Member Service/

Account Info/Lost or Stolen:

866-444-8529

VISA® Gift CardPurchase: 800-328-1935

Support Center: 866-466-2362

2 have card, will travel

 

Traveling with your credit card Enjoy the benefits of Alliantmembership for as long asyou like!

Sources: bankrate.com, creditcards.com, smartmoney.comand usatoday.com

Are you looking forward to taking a trip soon? If so, that’s terrific. But remember:credit card thieves may also be looking forward to your travels. Take these precautionsto help ensure your travels won’t be spoiled by credit card hassles.

1) Select a primary card to use for all the items you will charge.Makesureyouhaveenough available credit on that card and that the expiration date is current. Alsotakeoneback-upcard,incaseyouloseyourprimarycardorifafreezeistriggeredon it. Consider also taking along your Alliant VISA®DebitCardsoyoucanchargesomepurchasestoyourAlliantcheckingaccountandenjoyaccesstooursurcharge-freeATMs.Leaveyourothercardsathome.Carrytheprimarycardinyourwallet. Hidetheback-upanddebitcard,perhapsinamoneybelt.(Don’tcarryyour cards or money in a fanny pack, which is easy pickings for thieves.)

2) Make a photocopy of the front and back of each card. Makesureyour account numbers and the customer service phone numbers are legible.Take one set of the photocopies with you and leave another with atrusted family member or friend.

3) Call your credit card companies and let them know youritinerary, especially if you’re traveling out of the country.Let your issuer know exactly where you plan to travel andhow long you’ll be staying. Failure to alert your issuer can

result in a hold on your account or declined transactionsdue to suspected fraud. Makesurethecompanieshave your mobile phone number if they need to call you.If you’re traveling out of the country, ask if you’llneed a customer service number that’s different fromthe one on your card.

4) Avoid making financial transactions via a public orshared computer in a hotel lobby or business center. Such computers are notorious for being hacked.

5) Use cash when you can, especially for smallpurchases, such as buying food fromstreet vendors.

6) Save your receipts. When you return home,check your credit card statement againstyour receipts to ensure you weren’tovercharged or double charged.