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personal
loan options

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Personal Loan or
Personal Line of Credit?

Each loan has its advantages. While a personal loan is a great choice if you’re making a large, one-time purchase, a personal line of credit is ideal if you’re looking for a renewable source of loan funds that are instantly available.

A personal loan from ALEC offers you:

Lower rates than those at most banks1

No application fees

Apply online or via the ALEC Mobile App

Easy repayment methods — via Online Banking, automatic withdrawals, or by phone.

personal loan

An ALEC Personal Loan offers the assurance of having a fixed rate for a fixed term. So, you’ll make the same predictable payment each month. As an unsecured loan, no collateral is required. And our experienced loan representatives are dedicated to providing you unsurpassed personal service.

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personal line of credit

In everyday 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. 

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Enjoy The Benefits!

Competitive Low Rates1

No Collateral Requirements on Personal Lines of Credit

No Minimum Required to Open Credit Line

Flexible Loan Terms

24/7 Online and phone support

Loan Discounts Available2

Easy Application Process

Step
1
Apply Online
Quick and easy online application with rapid approval.1
Step
2
Sign Your Loan
Agree to the loan amount, rates, and terms.
Step
3
Receive Funds
Receive your funds and use them for your project.
Apply Now

We offer special ways to safeguard your loan


In addition to loans, ALEC offers other valuable services and products to protect your loan.

Credit Life & Disability Protection

Two affordable plans designed to ease the financial burden in cases of injury, illness, or death.

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Debt Management Services

If you feel like you need help handling your debt load, we can help you quickly start to turn things around.

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Protecting Yourself Against Identity Theft

A helpful article to learn how to protect your personal information from identity thieves.

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Have questions? We're here to help.

Apply Online

Use Our Mobile App

Visit a Branch

Call 800.762.9988

1. All loans subject to credit approval. Rates subject to credit history, term, and other factors. Please allow up to 30 days for processing time.
2. ALEC 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 is not valid on credit cards, mortgage, Personal Lines of Credit and Home Equity Line of Credit.