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Earn more on the money you're already saving when you choose a certificate that's right for you.

ALEC certificates

Put Your Money to Work

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.

accelerator certificates

Line up a rate increase every six months.
1st six months2nd six months

3rd six months

4th six months
1.50% APY*2.50% APY*4.50% APY*7.50% APY*

We're offering the 24-Month Accelerator Certificate as a savings certificate. Or as an IRA — traditional, Roth or Coverdell. All with as little as a $500 deposit.

And you can withdraw money penalty-free every six months during a 10-day window**.

The ALEC Accelerator Certificate is available for a limited time from December 1, 2022, through March 31, 2023.

* APY = Annual Percentage Yield. The blended APY is 4.00%. The APY is the rate that is earned if the funds are left to compound for 365 days. All dividends are paid monthly based on the average daily balance. Rates are subject to change monthly. This promotion may end or change at any time.
** The penalty for withdrawals outside the three window periods is a forfeiture of 180 days’ dividend on the withdrawn amount.

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 certificates

ALEC Variable Rate Certificates offer highly competitive rates, currently at 4.90% 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

Certificate Rates

TypeTermNominal RateAPY*
Certificates #
$500 Minimum Balance
6 months1.243%1.25%
12 months1.736%1.75%
24 months2.227%2.25%
36 months2.472%2.50%
48 months2.960%


60 months3.445%


Variable Rate Certificate **
$500 Minimum Balance
24 months4.793%4.90%
Rewards Checking Certificate
Bonus Rates +
$500 Minimum Balance
6 monthsN/A
12 months1.746%1.77%
24 months2.247%2.27%
36 months2.501%2.53%
48 months2.998%3.04%
60 months3.494%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.