1. Loyalty Discount: Members can receive a 0.10% rate discount for selected ALEC products and service usage up to a maximum loan discount of 0.50%. Not available on all loan products. For more complete details, click here.

Rates effective 07/01/09. All loans subject to credit approval. Home Equity loans are available in Illinois and Wisconsin only and limited to owner occupied properties. ALEC will waive your closing costs for fees including Property Appraisal, Title Insurance, Recording Fees, and Flood Certification. Rates subject to credit history, term and other factors. Rates can change daily.

* Maximum loan to value may be reduced due to declining home values.

**The Annual Percentage Rate (APR) is variable and is subject to change monthly based on Prime. The 80% LTV Line of Credit, currently 4.00%, is based on Prime.  Prime Rate is “prime” as listed in the “Money Rates” section of the Wall Street Journal from the last business day of the previous month. As of June 30, 2009 PRIME is 3.25%. The rate floor is 4.00%. Maximum APR during the life of the loan is 18% APR. $5,000 minimum initial draw required.