stock loans
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 rates1
Stock Loan Rates
| Type | Loan Term | APR* as low as 1 |
|---|---|---|
| Stock Loans — Single Pay | Up to 15 months | 5.25% |
| Stock Loans — Installment | Up to 60 months | 6.25% |
Other Related Accounts
When you’re ready, so are we.
* APR = Annual Percentage Rate. All loans subject to credit approval. Rates subject to credit history, term and other factors. Not all applicants will qualify for our lowest rates. Rates can change daily.
1. Disclosed rates include ALEC’s 0.50% APR discount. ALEC members will automatically earn a 0.50% APR discount if they are new members applying for a loan within the first 60 days of membership OR if they are a returning ALEC loan member. Existing members that do not meet the above criteria earn the 0.50% APR discount with a $500 monthly direct deposit into an ALEC Checking account and enrollment in E-Statements. Discount not valid on credit cards, mortgage and home equity line of credit. Your rate may be higher depending on your credit history, age of vehicle, term of your loan and services used. Maximum financing up to 125% MSRP for qualified borrowers.