APY: Annual Percentage Yield
APR: Annual Percentage Rate

Disclosure Information.

*Rates effective 04/01/2014. 
All loans subject to credit approval. All Annual Percentage Rate subject to credit history, term, and other factors including ALEC services utilized. Rates can change daily.

Auto Loan disclosed rate of 0.99% APR is valid on new and used autos up to 36 months. The disclosed rate of 1.99% APR is valid on new autos only up to 72 months. The disclosed rate of 2.24% APR is valid on used autos up to 72 months. All disclosed rates include a 0.25% APR rate discount to members with an ALEC Rewards Checking. Your rate may be higher depending on your credit history, age of vehicle, term of your loan and services used. Maximum financing up to 115% MSRP for qualified borrowers. Internal refinances of existing ALEC loans are excluded from this promotion and are not eligible for the promotional rate.

Home Equity Loans are available in Illinois, Ohio and Wisconsin only and limited to owner occupied properties. Maximum 80% LTV. Maximum loan to value may be reduced due to underwriting factors.

Interest Rate/APR: 1.99% for the first twelve months. To be eligible for the promotional introductory rate, you must apply by May 31, 2014 and must close by June 30, 2014. After the first twelve months, the Annual Percentage Rate (APR) is variable and is subject to change monthly based on the Prime Rate. Prime Rate is “prime” as listed in the “Money Rates” section of the Wall Street Journal from the last business day of the previous month, as of  March 31, 2014, PRIME is 3.25%. The rate floor is 4.00%. The variable rate is subject to credit history, term and other factors. Maximum APR during the life of the loan is 18% APR. $5,000 minimum initial draw required. ALEC will waive your closing costs for fees including Property Appraisal, Title Insurance, Recording Fees and Flood Certification. New loans only. Current members modifying, increasing or refinancing existing equity lines of credit are not eligible for the promotional rate. Amortization up to 15 years. Loans will be renewed at the end of the 60 month term, with options to reapply or pay in full at that time. 

Rewards Visa®- All purchases and balance transfers posted to the account during the first six months, will receive an introductory rate of 1.95% APR. After the initial six months, any remaining balances and future purchases and balance transfers will revert to the rate assigned at account opening, 8.95% APR to 13.95% APR,  based on the cardholders credit worthiness at account opening. Click here for Solicitation Disclosure

The Annual Percentage Yield 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. A penalty may be imposed for early withdrawal on certificates. Dividend rates are reviewed periodically and are subject to change without notice. 0.20% APY Money Market yield valid for account balances $50,000 or greater.