Timothy
Hard pull for no reason - no good!
I have been a customer of Alliant Credit Union for years and have even borrowed money from them in the past. Unfortunately, my most recent experience has been extremely disappointing. Alliant is not transparent about what their loans can be used for. Nowhere on their website do they clearly list restrictions. You would expect a financial institution to clearly state up front whether commercial or business use is allowed, but instead you only find out after you’ve already gone through the application process. Even as a longtime member, I was surprised to learn that Alliant does not seem to base their lending decisions on your credit score or history. They use their own internal list of criteria, but they don’t share it, leaving applicants in the dark. Another major issue is that they will perform a hard credit pull immediately, even before giving you any clarity about eligibility or loan restrictions. This can negatively impact your credit score with no benefit if you end up being denied for reasons that were never disclosed ahead of time. It is frustrating that, as a loyal customer, I was treated this way. At minimum, Alliant needs to overhaul its website and be upfront about loan restrictions, decision factors, and eligibility criteria. Transparency should be a priority in lending, and unfortunately Alliant Credit Union falls far short of that standard.