checking accounts
Not all checking accounts were created equal. ALEC gives you a choice of checking that fits your lifestyle and best suits your needs. Choose the checking account that’s right for you!
rewards checking
For those who want a checking account that pays dividends on your daily balance and also offers you special benefits.
free checking
For those who want the convenience of a checking account without paying fees, we have ALEC Free Checking.
Compare Checking Accounts
| Features | Earns a Dividend |
| Rewards Checking | |
| Free Checking | |
| Features | Free Non-ALEC ATM Transactions* |
| Rewards Checking | 10 |
| Free Checking | 6 |
| Features | Free Checks** |
| Rewards Checking | 1 box per year |
| Free Checking | Initial Box |
| Features | Free Personalized Debit Cards^ |
| Rewards Checking | |
| Free Checking | Optional with a fee |
| Features | Certificate Bonus## |
| Rewards Checking | Up to 0.05% APY*** |
| Free Checking | |
| Features | Opening Amount |
| Rewards Checking | $50 |
| Free Checking | $0 |
| Requirements | Direct Deposit |
$500 Monthly (required) | |
Optional | |
| Requirements | E-Statements |
Required | |
Optional | |
| Requirements | Debit Signature Transactions or Visa® Credit Card Transactions per Month |
15 debit or combined 5 with qualifying loan (Required) | |
Optional | |
| Requirements | Monthly Fee |
$5 if requirements above are not met | |
$0 |
* There will be a fee for each transaction over the amount noted. See ALEC's Fee Schedule. Please note there may be a fee assessed by the ATM owner, if it is not part of ALEC’s surcharge-free network.
** Free checks limited to the ALEC check design.
*** The Annual Percentage Yield (APY) 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.
^ Rewards Checking account members are eligible for up to 2 free initial custom designs per account (e.g. primary and joint owner of checking account). For additional image charges and costs to Free Checking account holders, please refer to ALEC's Fee Schedule. Renewals will be at no charge, unless a new image is uploaded. This is an optional service.
## Certificate bonus varies depending on the term of the certificate; only applies at certificate opening, excludes renewals, excludes IRA & HSA certificates and cannot be combined with any other promotional offers.
By members' choice, your deposits are insured by American Share Insurance up to $250,000 per account. This institution is not federally insured.