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Online Banking

Variable Rate Certificate

Variable Rate CD

Get a higher rate than savings or money market accounts.

Are you keeping a high balance in a savings account or money market account? 

You could be earning a higher rate of return with an ALEC Variable Rate Certificate. You’ll also enjoy peace of mind with insured security.

ALEC Variable Rate Certificates offer highly competitive rates, currently at 0.45% 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 for 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 H.S.A.
  • Term of 24 months
  • Dividends are paid monthly
  • Automatically reinvested dividends for maximum compounding

To open an ALEC Variable Rate Certificate, simply call 800.762.9988 or visit any ALEC Service Center.

Click here to view our current rates.
Account Type Minimum to Earn APY Nominal Rate APY*
Variable Rate Certificate 24 months 0.45 % 0.45 %

*APY = Annual Percentage Yield.

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 April 30, 2020, the rate is 0.12%. The rate floor is 0% APY.