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www.alliantcreditunion.org a newsletter for Alliant Credit Union members April 2013

contents
1 The triumph of the ATM 2 Wow! You have more than 80,000

The triumph of the ATM

Did you know that theres an Automated Teller Machine (ATM) halfway between Norway and the North Pole? Theres another along the southern rim of the Grand Canyon, and one 14,800 feet above sea level in Tibet. And lets not overlook the ATM tucked away inside Buckingham Palace for the private use of the Englands royal family. All told, there are now more than 2.2 million ATMs today (one for every 3,000 people in the world), according to the ATM Industry Association. to a bank computer and were not for everyone. Indeed, you had to be one of the banks best customers to be invited to get its card. Finally, the first fully functional ATM burst onto the scene in New York in 1971, enabling people to check their balances, make deposits, get cash and transfer money between accounts. Even so, these ATMs received, at best, a cool reception. We got a lot of flack, says former Citibank CEO Walter Wriston, who played a big role in saturating the Big Apple with ATMs. He relates: Banks were running ads that said, Our tellers are smiling young ladies who remember your name. Why go to a soulless machine? And my answer to that was when its 7:30 at night and youre going to the movies and you dont have any money, you like the soulless machine. Initially, a typical ATM sold for $30,000 and cost more than $1,500 a month to operate. So, banks actually lost money on them. But, along came a game changer. In 1996, two big ATM national networks started to charge customers a fee to use their machines. And the surchargefee gold rush was on. ATMs became revenue generators, prompting critics to call them Always Taking Money machines. But, lets not sell the ATMs short. They make it easier and more convenient for us to access our money 24/7. And, they also deserve a thank-you for helping pave the way for other financial services we now take for granted, such as credit cards, online banking and mobile banking.

surcharge-free ATMs with Alliant It pays to be a member of Alliant $240 a year (or more) Earn a $2,000 college scholarship!

dividend
May Savings Dividend DECLARED April 18, 2013

The May 2013 Savings and IRA dividend, declared 04/18/2013, provides a Compounded Annual Percentage Yield of

0.70% APY

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 is subject to change monthly.
May Checking Dividend DECLARED April 18, 2013

Today, two-thirds of all Americans habitually carry an ATM card in their wallet or purse. And 92% of Americans consider convenient ATM access a critical factor in selecting their financial institution, according to a recent VISA survey. (See story on back page about Alliants 80,000 surcharge-free ATMs.) Mankind had to wait until the mid-1980s for the ATM to become commonplace and the go-to place to get ones money. Until then, it was common for people to fritter away their lunch hour, waiting in a long line for the privilege of making a deposit or a cash withdrawal from a human teller. The first ATM was installed in 1939 as an experiment in a solitary branch of a New York bank. It was basically a hole in the wall, which enabled customers to make cash and check deposits. However, six months later the bank discontinued this experiment. Why? It appears the only people using the ATM were a small number of prostitutes and gamblers who didnt want to deal with tellers face to face, relates the machines inventor, Luther Simjian. Twenty-eight years later, in 1967, a London bank installed a genuine cash dispensing machine. But, to use it, you had to buy paper vouchers beforehand from a teller. Unfortunately, once you used the voucher, the machine promptly ate it, so you needed another voucher for your next cash withdrawal. Subsequent ATMs elsewhere used a reusable plastic card, but they were still not hooked up

The May 2013 High Rate Checking dividend, declared 04/18/2013, provides a Compounded Annual Percentage Yield of

0.65% APY

Checking dividends are paid on the last day of each month to accountholders who meet the requirements of the account. Checking dividend is subject to change monthly.

Sources: nbcnews.com, thocp.net, bankmachine.com, atminventor.com, todayifoundout.com, Fortune, Forbes and the ATM Industry Association

2 ATMs coast to coast, Alliant has the most

Wow! You have more than 80,000 surcharge-free ATMs with Alliant
ATM score sheet Financial Institution and Number of ATMs Did you know that Alliant has more surcharge-free ATMs than the six largest US banks combined! Thats right. Our surcharge-free ATMs1 are available in all 50 states with many in popular merchants, such as convenience stores, drug stores, gas stations, discount retail stores and more. To find the surcharge-free ATMs nearest you, use our ATM Locator on www.alliantcreditunion.org or on our Mobile Banking app, or call 800-328-1935 to speak with a Member Service Representative 24/7. ATMs are one of the ways Alliant provides you with 24/7 access to your money. Take it from member Audrey Olsen from Jamaica, NY: Alliant doesnt have a branch near where I live. But, Im happy there are so many ATMs I can use nearby for free.
1 Surcharge-free ATMs include Alliant-owned ATMs and ATMs that are part of the Alliance One, Allpoint, Bank of the West, CO-OP Network, Credit Union 24 CU Here and Publix Presto networks. Transactions performed at other ATMs may be subject to the ATM owners surcharge fee. Not all ATMs accept deposits. Please see our online ATM Locator at www.alliantcreditunion.org or on Alliant Mobile Banking for a list of ATMs that accept deposits or are surcharge-free. Source: nerdwallet.com, August 2012

It pays to be a member of Alliant $240 a year (or more)

The Alliant Advantage is more than just a slogan. The average Alliant member earns a financial benefit of $240 per year (and the average household, $456) for doing business with Alliant Credit Union - compared to doing business with a bank, according to a national economic study prepared by the Credit Union National Association (CUNA). These are the total benefits we provided divided across all members - even those who conduct very little business with Alliant. CUNA also estimates that Alliant provided loyal high-user member households $1,322 in direct financial benefits during the 12 months ending September 2012. The report points out that Alliant offers lower loan rates than banks on: new and used car loans home equity loans credit card loans And, Alliant pays its members higher dividends on savings, Free High Rate Checking, Certificates and IRAs.
CUNA calculated that Alliant provided more than $67,017,343 in direct financial benefits to our 279,094 members during the 12 months ending September 2012. To compare our benefits against banks, CUNA used the average bank rates provided by Datatrac Corp., which monitors more than 20,000 financial institutions.

Earn a $2,000 college scholarship!

This summer, Alliant will again award five $2,000 scholarships through our annual Members Scholarship Program. To qualify, students must be an Alliant member in good standing and be applying to or enrolled in an accredited undergraduate program at a four-year college, university or vocational/technical institution with a minimum of 12-credit hours during the 2013 fall semester. Visit our website, www.alliantcreditunion.org, for complete details and to obtain an application. Submissions must be received or postmarked by June 14, 2013. Winners will be notified by July 26.

office closings
Alliant will be closed in observance of the following holidays:

Memorial Day Monday, May 27, 2013 Independence Day Thursday, July 4, 2013

dial direct: Alliant is there when you need us Mortgage Hotline Member Contact Center 800-328-1935 800-328-1935 Press option 5, then option 1 24/7 personal assistance MonFri, 8am5pm CT tdd/tty 773-462-2300 Self Service Telephone (SST) 800-482-5328 24/7 automated account access visa Debit Card 800-328-1935 visa Credit Cards 24/7 Member Service/ Account Info/Lost or Stolen: 866-444-8529 visa Gift Card Purchase: 800-328-1935 Support Center: 866-466-2362 Auto/Home Insurance 888-380-9287 MonFri, 6am10pm CT Sat, 6am 8pm CT GreenPath Debt Solutions 877-337-3399 MonThur, 7am9pm CT Fri, 7am6pm CT Sat, 8am5pm CT
Alliant Headquarters 11545 W. Touhy Avenue Chicago, IL 60666

Alliant Retirement and Investment Services Financial consultants are available to serve members in all states. Call 800-328-1935, option 9. Deposits/Payments PO Box 2387 Des Plaines, IL 60017-2387 Credit Card Payments PO Box 1666 Des Plaines, IL 60017-1666 All Other Correspondence and IRA and HSA deposits PO Box 66945, Chicago, IL 60666-0945

For Alliant Branch locations, Alliant Online Banking, and product and service information, visit our website: www.alliantcreditunion.org
This newsletter is for members personal use only. Reproducing and/or selling the contents of this newsletter without prior written permission from Alliant Credit Union is prohibited. Copyright Alliant. Articles are prepared as an educational service for Alliant members. They should not be relied on as a substitute for individual financial or legal research. Articles in this newsletter are not intended to be used (and may not be relied on) for penalty avoidance.

Convenient 24/7/365 account access  Online banking at www.alliantcreditunion.org  Mobile banking app for Android iPad , iPhone and iPod touch  Member Contact Center at 800-328-1935  Self Service Telephone at 800-482-5328  Over 80,000 surcharge-free ATMs nationwide
Android is a trademark of Google, Inc. iPhone, iPad and iPod touch are registered trademarks of Apple, Inc.

PO Box 66945, 11545 W. Touhy Avenue Chicago, IL 60666-0945

www.alliantcreditunion.org

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