Personal Loan or Personal Line of Credit? Each has its advantages.
While a personal loan is a great choice if you’re making a large, one-time purchase, a personal line of credit is ideal if you’re looking for a renewable source of loan funds that are instantly available.
A personal loan from ALEC offers you:

No application fees

Easy repayment methods — via Online Banking, automatic withdrawal from ALEC Savings or Checking, or by telephone

24/7 online and
phone support

No application fees

Easy repayment methods — via Online Banking, automatic withdrawal from ALEC Savings or Checking, or by telephone

24/7 online and phone support
Fixed rate, fixed term, with predictable monthly payments. |
The flexibility to borrow whenever you want, in incremental amounts. |
Enjoy The Benefits!
✔Competitive Low Rates |
✔No Collateral Requirements on Personal Lines of Credit |
✔No Minimum Required to Open Credit Line |
✔Flexible Loan Terms |
✔24/7 Online and phone support |
✔Loan Discounts Available** |
Application Process
1
Apply Online
Quick and easy online application with instant approval.
2
Sign Your Loan
Agree to the loan amount, rates, and terms.
3
Receive Funds
Receive your funds and use them to buy your next vehicle.
We offer special ways to safeguard your loan
In addition to loans, ALEC offers other valuable services and products to protect your loan.
If you die before your loan is fully paid, we offer coverage to reduce or pay off your outstanding loan balance, up to the policy maximum.
Two affordable plans designed to ease the financial burden on you and your family in cases of injury, illness, or death.
If you feel like you need help handling your debt load, we can help you quickly start to turn things around.
* All loans subject to credit approval.
** ALEC members will automatically earn a 0.50% APR loan discount if they are a new member applying for a loan within the first 60 days of membership OR if they are a returning ALEC loan member. Existing members that don't meet the above criteria earn the 0.50% APR discount with a $500 monthly direct deposit into an ALEC Checking account and enrollment in E-Statements.