Type | Term | Nominal Rate | APY* |
Certificate Special ^ $500 Minimum Balance | 15 months | 5.128% | 5.25% |
Certificates # $500 Minimum Balance |
6 months | 1.243% | 1.25% |
| 12 months | 1.736% | 1.75% |
| 24 months | 2.227% | 2.25% |
| 36 months | 2.472% | 2.50% |
| 48 months | 2.960% | 3.00% |
| 60 months | 3.445% | 3.50% |
Variable Rate Certificate ** $500 Minimum Balance |
24 months | 4.793% | 4.90% |
Rewards Checking Certificate Bonus Rates +$500 Minimum Balance |
6 months | | N/A |
| 12 months | 1.746% | 1.77% |
| 24 months | 2.247% | 2.27% |
| 36 months | 2.501% | 2.53% |
| 48 months | 2.998% | 3.04% |
| 60 months | 3.494% | 3.55% |
* 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. The nominal rate is the rate used to calculate the monthly dividend.
# A penalty may be imposed on an early withdrawal of a Share Certificate. View our
fee schedule.
** 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 February 28, 2023, the rate is 4.75%. The rate floor is 0% APY.
+ Rewards Checking account holders can receive up to 0.05% bonus on certificate terms 12 to 60 months. New accounts only. Not valid on renewals. Not valid on HSA, IRA, or Variable Rate Certificates.
^ Available for new money only. New money must be deposited from a source outside of ALEC; transfers between ALEC accounts will not qualify. A penalty may be imposed on an early withdrawal, which may reduce earnings. This account will renew to a twelve-month certificate at maturity. Offer may end at any time, at the discretion of the Credit Union or by September 30th, 2023.