ALEC certificate of deposit; young man using laptop and smiling


Earn a better rate of return with an ALEC Certificate.

Get Started

It's always wise to save money for an emergency or future plans and with an ALEC certificate of deposit, you can put that money to work.

But if you're keeping a high balance in a savings account, you may earn a better rate of return with an ALEC Certificate.

Woman on her cell phone checking her Fixed Rate Certificate

Fixed Rate Certificates

Earn a fixed dividend rate for a better rate of return and get the peace of mind that comes from insured security. An ALEC Certificate assures you a fixed Annual Percentage Yield (APY) for a specified period of time.*

ALEC Fixed Rate Certificates feature:
  • Just a $500 minimum opening amount
  • A competitive, fixed interest rate
  • Terms from 6 to 60 months
  • Dividends that are paid monthly
  • Automatically reinvested dividends for maximum compounding

Variable Rate Certificate of Deposit-man working on computer

Variable Rate Certificate

ALEC Variable Rate Certificates offer highly competitive rates, currently at 1.21% APY* and vary on a monthly basis with the 13-week U.S. Treasury Bill (Index + 0.15%)**. Variable rate certificates can benefit from rising interest rates, even if there’s a chance that rates could also go down. But compared to traditional savings and money market accounts, ALEC Variable Rate Certificates typically offer a higher rate of return.

ALEC Variable Rate Certificates feature:
  • $500 minimum to open the account
  • Available as a traditional certificate, IRA or HSA
  • Term of 24 months
  • Dividends tied to the U.S. Treasury Bill paid monthly
  • Automatically reinvested dividends for maximum compounding

Terms Rewards Rate# Rewards APY* Fixed Rate Fixed APY* Variable Rate Variable APY*
6 months N/A N/A 0.60% 0.60% N/A N/A
12 months 0.66% 0.66% 0.65% 0.65% N/A N/A
24 months 0.77% 0.77% 0.75% 0.75% 1.20% 1.21
36 months 0.88% 0.88% 0.85% 0.85% N/A N/A
48 months 1.04% 1.04% 1.00% 1.00% N/A N/A
60 months 2.03% 2.05 % 1.98% 2.00% N/A N/A

Ways to Open an ALEC Certificate of Deposit


Start the process by messaging us online.

In Person

Visit the ALEC Service Center to find a location.


We’re here to help. Contact us at 847.688.8000 or 800.762.9988 if you need assistance.

* APY = Annual Percentage Yield. The Annual Percentage Yield is the rate that is earned if the funds are left to compound for one year. All dividends are paid monthly based on the daily average balance. Rates subject to change monthly. $500 minimum balance to open account. A penalty may be imposed on an early withdrawal of a Certificate outside the maturity window. The nominal rate is the rate used to calculate the monthly dividend.

** The "Index" is the 13-week Treasury Bill rate posted in the Money rates section of the Wall Street Journal on the last business day of the previous month. As of May 31, 2022, the rate is 1.06%. The rate floor is 0% APY.

# Certificate bonus varies depending on the term of the certificate; only applies at certificate opening, excludes renewals, excludes IRA & HSA certificates and cannot be combined with any other promotional offers.