Your stocks can secure a loan.
Use a stock you own to secure a loan.
ALEC offers you the ability to borrow money using the value of a stock you own that is listed on the New York Stock Exchange (NYSE). In addition, if you’re a sponsor employee with stock options, we can structure an ALEC stock loan by helping you exercise them. While you maintain ownership of the stock and any dividends from it, the stock serves as collateral for the loan.
With a stock-secured loan, you can use the money for anything you want — including purchasing a vehicle, making improvements to your home, paying for college, or any other purpose.
ALEC Stock Loans feature:
- A competitive rate – lower than those for most mortgage loans or other secured loans
- Flexible terms up to 15 months prior to scheduled payment
- Convenient repayment methods via transfers from ALEC Savings or Checking
- 24/7 online access to account
- Potential for a 0.50% loan discount off standard loan rates*