our rates
Rates are effective as of May 1st, 2025, and are subject to change without notice.
Rewards Checking
| Type | Nominal Rate | APY** |
|---|---|---|
| Rewards Checking1 | 0.598% | 0.60% |
** APY = 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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
1. Please refer to rewards checking page for account requirements and fees.
Money Market
$2,000 Minimum Balance to open a Money Market
| Minimum to Earn APY | Nominal Rate | APY** |
|---|---|---|
| $100,000 and over | 1.391% | 1.40% |
| $50,000 — $99,999.99 | 1.193% | 1.20% |
| $2,000 — $49,999.99 | 1.094% | 1.10% |
** The Annual Percentage Yield (APY) 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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
Savings Accounts
| Account Type | Nominal Rate | APY** |
|---|---|---|
| Savings | 0.747% | 0.75% |
| Special Savings | 0.747% | 0.75% |
| Holiday Club Savings1 | 0.747% | 0.75% |
| Health Savings Account (HSA) | 0.797% | 0.80% |
| IRA Share Roth, Traditional, Education | 0.747% | 0.75% |
** APY = 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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
1. A penalty may be imposed on an early withdrawal of a Holiday Club. View our fee schedule. Holiday Club funds will be transferred into a members savings account on November 1st
Certificates
| Type | Term | Nominal Rate | APY**,1 |
|---|---|---|---|
| Certificates2 $500 Minimum Balance | 6 months | 1.736% | 1.75% |
| 12 months | 2.227% | 2.25% | |
| 24 months | 2.716% | 2.75% | |
| 36 months | 2.960% | 3.00% | |
| 48 months | 3.445% | 3.50% | |
| 60 months | 3.928% | 4.00% | |
| Variable Rate Certificate2 $500 Minimum Balance | 24 months | 5.318% | 5.45% |
| HSA Certificates2 $500 Minimum Balance | 12 months | 2.227% | 2.25% |
| 24 months | 2.716% | 2.75% | |
| 36 months | 2.960% | 3.00% | |
| 48 months | 3.445% | 3.50% | |
| 60 months | 3.928% | 4.00% | |
| Variable Rate HSA Certificate2 $500 Minimum Balance | 24 months | 5.318% | 5.45% |
| Rewards Checking Certificate2,3 Bonus Rates $500 Minimum Balance | 6 months | N/A | |
| 12 months | 2.237% | 2.26% | |
| 24 months | 2.735% | 2.27% | |
| 36 months | 2.501% | 2.53% | |
| 48 months | 2.998% | 3.04% | |
| 60 months | 3.494% | 3.55% | |
| IRA Certificates2 Roth, Traditional, Education $500 Minimum Balance | 12 months | 1.736% | 1.75% |
| 24 months | 2.227% | 2.25% | |
| 36 months | 2.472% | 2.50% | |
| 48 months | 2.960% | 3.00% | |
| 60 months | 3.445% | 3.50% | |
| Variable Rate IRA Certificate2 $500 Minimum Balance | 24 months | 4.793% | 4.90% |
** APY = 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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
1. The “Index” is the 13-week Treasury Bill rate posted in the Money rates section of the Wall Street Journal on the last business day of the previous month. As of May 31st, 2025, the rate is 4.255%. The rate floor is 0% APY.
2. A penalty may be imposed on an early withdrawal of a Share Certificate. View our fee schedule.
3. Rewards Checking account holders can receive up to 0.05% bonus on certificate terms 12 to 60 months. New accounts only. Not valid on renewals. Not valid on HSA, IRA, or Variable Rate Certificates.
Credit Cards
| Type | APR* as low as |
|---|---|
| Select™ Visa® Introductory rate of 0% APR1 for the first twelve months on balance transfers and cash purchases. | 12.20%2 |
| Select Rewards™ Visa Introductory rate of 0% APR1 for the first twelve months on balance transfers and cash purchases. |
14.20%2 |
| Visa Signature Rewards™ Introductory rate of 0% APR1 for the first twelve months on balance transfers and cash purchases. |
16.20%2 |
| Student Select™ Visa Introductory rate of 0% APR1 for the first twelve months on balance transfers and cash purchases. |
16.20%2 |
| Student Select Rewards™ Visa Introductory rate of 0% APR1 for the first twelve months on balance transfers and cash purchases. |
18.20%2 |
* 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. All purchases and balance transfers posted to the account during the first twelve months, will receive an introductory rate of 0.00% APR. A balance transfer fee of 2% of the amount of the transfer will apply. After the initial twelve months, any remaining balances and future purchases and balance transfers will revert to the rate assigned at account opening. Balance transfers may not be used to pay off any ALEC loans.
2. The post-introductory APR varies by credit card and credit history. It also varies with the market 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 quarter. As of March31st, 2025, the Prime Rate is 7.50%. The rate floor is 4.00%.
View the VISA Application and Solicitation Disclosure for additional rate information.
Real Estate Loans
| Type | Loan Terms | APR* as low as |
|---|---|---|
— |
||
36 months | 6.50% |
|
60 months | 7.25% |
|
84 months | 8.25% |
|
— |
4.99% for the first 12 months3 7.50% after introductory rate |
* 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. 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.
2. Home Equity Loans/Lines are available in Illinois, Ohio, Wisconsin, and Minnesota only and limited to owner occupied properties. Applicant will be responsible for closing costs up to $500 for fees that include appraisal, title insurance and recording fees. For loans that have a closing cost of less than $500 the applicant will pay the amount of the costs. For loans that have a closing cost of more than $500, the applicant will pay $500. Property insurance is required. Minnesota applicants are responsible for a mortgage registration tax. The 4.99% introductory fixed APR is for the first 12 months for home equity lines of credit up to $2,000,000 at 80% combined loan-to-value.
3. After the initial 12-month period, the rate will be variable 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 March31st, 2025, the Prime Rate is 7.50%. The rate floor is 4.00%. Maximum APR during the life of the loan is 18% APR. $5,000 minimum initial draw required.
NMLS# 421478. View a complete list of NMLS numbers.
Auto Loans
| Type | Loan Terms | APR* as low as1 |
|---|---|---|
| New Auto Loans2,3 2024-2025 less than 5,000 miles | Up to 36 months | 4.74% |
| 48 months | 4.74% | |
| 60 months | 4.74% | |
| 72 months | 4.74% | |
| 84 months | 5.99% | |
| Used Auto2 2018-2023 and 2024-2025 with over 5,000 miles | Up to 36 months | 4.74% |
| 48 months | 4.74% | |
| 60 months | 4.74% | |
| 72 months | 4.74% | |
| Late Model Used Auto 2017 and older | Up to 60 months | 7.74% |
| First Time Auto Buyer4 | 36 months | 6.24% |
| 48 months | 6.24% | |
| 60 months | 6.24% |
* 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. 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. 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.
2. Refinance of existing ALEC Auto Loans excluded.
3. 72 month loans are available with a minimum $25,000 loan amount. 84 month loans are available with a minimum $30,000 loan amount.
4. Maximum Loan to Value (LTV) of 100% of vehicle value. Maximum amount financed $30,000. Maximum term 60 months.
Recreational Vehicles
| Type | Loan Term | APR* as low as 1 |
|---|---|---|
| New & Used Boat, Motorcycle & RVs 2 2018-2025 | Up to 24 months | 4.49% |
| 36 months | 4.49% | |
| 48 months | 4.99% | |
| 60 months | 5.24% | |
| 72 months | 5.49% | |
| 84 months | 5.99% | |
| New & Used Snowmobile 3 New & Used ATV & UTV 3 | Up to 24 months | 4.49% |
| 36 months | 4.49% | |
| 48 months | 4.99% | |
| 60 months | 5.24% | |
| 72 months | 5.49% | |
| 84 months | 5.99% | |
| Extended Term Boat & RVs 2 2018-2025 | 120 months | 6.49% |
| 180 months | 6.99% | |
| 240 months | 7.49% |
* 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. 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. 84-month and Extended Term Boat and RV loans are available with a minimum $50,000 loan amount.
3. 84-month loans are available with a minimum $50,000 loan amount.
Stock, Secured & Personal Loans
| Type | Loan Term | APR* as low as 1 |
|---|---|---|
| Personal Loan | 36 months | 7.49% |
| 48 months | 8.49% | |
| 60 months | 9.49% | |
| Personal Line of Credit 2 | 12.75% | |
| Certificate Secured | Up to 60 months | Certificate + 3.50% |
| Savings Secured | Up to 60 months | Share + 3.50% |
| Stock Loans — Single Pay | Up to 15 months | 5.25% |
| Stock Loans — Installment | Up to 60 months | 6.25% |
* 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. 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.
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 March 31st, 2025, the Prime Rate is 7.50%. The rate floor is 4.00%.
Student Loans
Learn more about the College Ave Student Loans.
