personal line
of credit
Keep possibilities within reach.
life happens. be ready when it does.
In life, occasions pop up when having access to extra money comes in handy. Whether you are navigating unexpected emergencies, making a special purchase, or finally indulging in that special vacation, financial flexibility matters. A personal line of credit gives you the freedom to borrow exactly what you need, whenever you want it, in flexible increments.
An ALEC Personal Line of Credit offers you an attractive interest rate that’s lower than most credit cards. It’s a loan designed to provide unsurpassed flexibility, so you can:
- borrow only what you need
- use the money for any purpose
- pay interest only on the amount borrowed
Whether a financial opportunity is calling or life throws you a financial curve, an ALEC Personal Line of Credit ensures you’ll have quick access to the funds you need.
loan payment options
Making your loan payment should be simple and convenient. Whether you prefer to pay online, from your mobile device, in person, or by mail, ALEC offers a variety of secure payment options to fit your lifestyle.
ALEC Personal Line of Credit highlights:
Personal Line of Credit Rate
| Account Type | APR* as low as1 |
|---|---|
| Personal Line of Credit2 | 12.75% |
Personal Line of Credit FAQs
A personal loan is an unsecured, fixed-rate loan for a set amount and term. A personal line of credit is an unsecured, variable-rate and open-ended credit line that you can use over and over again. You can pay it off and then use the open credit line for other expenses or project.
You can repay your loan or line of credit in many ways, including automatic transfer from your ALEC Savings or Checking, making payments on the ALEC Mobile App, stopping by any ALEC Branch, contacting us 24/7 at 800.762.9988 or processing your payment via Online Banking.
You can close on your Personal Loan or Personal Line of Credit in as little as 2–3 days.
The rate on the Personal Line of Credit is variable. The rate is tied to the Prime Rate as listed in the Money Rates section of the Wall Street Journal on the last day of the previous quarter.
The minimum credit line is $0 and the maximum line is $50,000.
The monthly minimum payment is only 3% of the outstanding balance, or $25, whichever is greater.
Ways to safeguard your loan.
Have questions? We're here to help.
1. Disclosed rates include ALEC’s 0.50% APR discount. Returning loan members who have a current loan with ALEC and are applying for a new loan will automatically receive a 0.50% APR rate discount. New loan members who do not have any current loans with ALEC must have an ALEC Checking Account (Free or Rewards) with $500 in direct deposit per statement cycle AND be enrolled in E-Statements to be eligible for the 0.50% APR discount. Discount not valid on credit cards, mortgages, Personal Lines of Credit, Rapid Refi and Home Equity Line of Credit.
2. The Annual Percentage Rate (APR) is variable and is subject to change quarterly based on Prime. Prime Rate is “prime” as listed in the “Money Rates” section of the Wall Street Journal from the last business day of the previous quarter. As of June 30th, 2026, the Prime Rate is 6.75%. The rate floor is 4.00%.