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Other Loans


Have an ALEC savings or certificate account?

Use it to get a loan.

ALEC allows you to borrow against the value of your savings or certificate account to obtain the loan funds you desire.* 

This secured loan can be used for any purpose. It’s also a way for people with a limited history to build their credit. 

Features of our Savings Secured and Certificate Secured Loans:

  • Competitive, fixed rates 
  • Flexible terms 
  • No application fee
  • No prepayment penalty
  • 24/7 online account access 


When you’re ready, so are we.

ALEC makes it easy to apply online. Or you can apply via the ALEC Mobile App or visit an ALEC Service Center. Or call 800.762.9988. 

Click here to view our current rates.
Account Type Loan Term APR* as low as
Certificate Secured Loan Up to 60 months Certificate + 3.00 %
Savings Secured Loan Up to 60 months 2.80 %

*APR Annual Percentage Rate. All loans subject to credit approval. Rates subject to credit history, term, and other factors. Rates can change daily. Rate displayed includes a 0.25% APR rate discount. Returning loan members who have a current loan with ALEC and is applying for a new loan will automatically receive a 0.25% APR rate discount. New loan members who do not have any current loans with ALEC must have an ALEC Checking Account (Free or Rewards) with $500 in direct deposit per statement cycle AND be enrolled in E-Statements to be eligible for the 0.25% APR discount. Maximum term on a Single Pay Stock loan is 15 months. All other loans have terms up to 60 months.


* All loans subject to approval.