our rates
Rates are effective as of January 1, 2023 and are subject to change without notice.
Type | Rewards Checking ** |
Nominal Rate | 0.598% |
APY* | 0.60% |
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.
Please refer to rewards checking page for account requirements and fees.
$2,000 Minimum Balance
Minimum to Earn APY | $100,000 and over |
Nominal Rate | 0.995% |
APY* | 1.00% |
Minimum to Earn APY | $50,000 — $99,999.99 |
Nominal Rate | 0.847% |
APY* | 0.85% |
Minimum to Earn APY | $2,000 — $49,999.99 |
Nominal Rate | 0.747% |
APY* | 0.75% |
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.
Account Type | Savings Account |
Nominal Rate | 0.499% |
APY* | 0.50% |
Account Type | Special Savings |
Nominal Rate | 0.499% |
APY* | 0.50% |
Account Type | Holiday Club Savings # |
Nominal Rate | 0.499% |
APY* | 0.50% |
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.
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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
Nominal Rate | 0.549% |
APY* | 0.55% |
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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
$500 Minimum Balance
Term | 12 months |
Nominal Rate | 1.490% |
APY* | 1.50% |
Term | 24 months |
Nominal Rate | 1.982% |
APY* | 2.00% |
Term | 36 months |
Nominal Rate | 2.472% |
APY* | 2.50% |
Term | 48 months |
Nominal Rate | 2.960% |
APY* | 3.00% |
Term | 60 months |
Nominal Rate | 3.445% |
APY* | 3.50% |
A penalty may be imposed on an early withdrawal of a Share Certificate. View our fee schedule.
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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
Roth, Traditional, Education
Type | IRA Share |
Nominal Rate | 0.499% |
APY* | 0.50% |
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. Rates subject to change monthly.
Roth, Traditional, Education $500 Minimum Balance
Term | 12 months |
Nominal Rate | 1.490% |
APY* | 1.50% |
Term | 24 months |
Nominal Rate | 1.982% |
APY* | 2.00% |
Term | 36 months |
Nominal Rate | 2.472% |
APY* | 2.50% |
Term | 48 months |
Nominal Rate | 2.960% |
APY* | 3.00% |
Term | 60 months |
Nominal Rate | 3.445% |
APY* | 3.50% |
A penalty may be imposed on an early withdrawal of a Share Certificate. View our fee schedule.
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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
$500 Minimum Balance
Terms | 6 months |
Rewards Rate+ | N/A |
Rewards APY* | N/A |
Fixed Rate | 0.995% |
Fixed APY* | 1.00% |
Variable Rate** | N/A |
Variable APY* | N/A |
Terms | 12 months |
Rewards Rate+ | 1.500% |
Rewards APY* | 1.51% |
Fixed Rate | 1.490% |
Fixed APY* | 1.50% |
Variable Rate** | N/A |
Variable APY* | N/A |
Terms | 24 months |
Rewards Rate+ | 2.002% |
Rewards APY* | 2.02% |
Fixed Rate | 1.982% |
Fixed APY* | 2.00% |
Variable Rate** | 4.410% |
Variable APY* | 4.50% |
Terms | 36 Months |
Rewards Rate+ | 2.501% |
Rewards APY* | 2.53% |
Fixed Rate | 2.472% |
Fixed APY* | 2.50% |
Variable Rate** | N/A |
Variable APY* | N/A |
Terms | 48 Months |
Rewards Rate+ | 2.998% |
Rewards APY* | 3.04% |
Fixed Rate | 2.962% |
Fixed APY* | 3.00% |
Variable Rate** | N/A |
Variable APY* | N/A |
Terms | 60 Months |
Rewards Rate+ | 3.494% |
Rewards APY* | 3.55% |
Fixed Rate | 3.445% |
Fixed APY* | 3.50% |
Variable Rate** | N/A |
Variable APY* | N/A |
A penalty may be imposed on an early withdrawal of a Share Certificate. View our fee schedule.
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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
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 December 31, 2022 the rate is 4.350%. The rate floor is 0% APY.
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.
$500 Minimum Balance
Terms | 1st 6 months |
Nominal Rate | 1.490% |
APY* | 1.50% |
Terms | 2nd 6 months |
Nominal Rate | 2.472% |
APY* | 2.50% |
Terms | 3rd 6 months |
Nominal Rate | 4.410% |
APY* | 4.50% |
Terms | 4th 6 months |
Nominal Rate | 7.254% |
APY* | 7.50% |
Terms | Blended APY |
Nominal Rate | |
APY* | 4.00% |
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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
Members have the ability to withdraw funds penalty-free at each step-up interval, within a 10-day window. The penalty for early withdrawal outside the three periods will equal forfeiture of 180 days dividend on the withdrawn amount.
$500 Minimum Balance
Term | 24 months |
Nominal Rate | 4.410% |
APY* | 4.50% |
A penalty may be imposed on an early withdrawal of a Share Certificate. View our fee schedule.
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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
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 December 31, 2022 the rate is 4.350%. The rate floor is 0% APY.
$500 Minimum Balance
Term | 24 months |
Nominal Rate | 4.410% |
APY* | 4.50% |
A penalty may be imposed on an early withdrawal of a Share Certificate. View our fee schedule.
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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
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 December 31, 2022 the rate is 4.350%. The rate floor is 0% APY.
$500 Minimum Balance
Term | 24 months |
Nominal Rate | 4.410% |
APY* | 4.50% |
A penalty may be imposed on an early withdrawal of a Share Certificate. View our fee schedule.
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. Rates subject to change monthly. The nominal rate is the rate used to calculate the monthly dividend.
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 December 31, 2022 the rate is 4.350%. The rate floor is 0% APY.
Type | Select™ Visa®3 Introductory rate of 0% APR for the first twelve months on balance transfers and cash purchases. |
APR* as low as | 12.20% |
Type | Select Rewards™ Visa®3 Introductory rate of 0% APR for the first twelve months on balance transfers and cash purchases. |
APR* as low as | 14.20% |
Type | Visa® Signature Rewards3 Introductory rate of 0% APR for the first twelve months on balance transfers and cash purchases. |
APR* as low as | 16.20% |
Type | Student Select™ Visa®3 Introductory rate of 0% APR for the first twelve months on balance transfers and cash purchases. |
APR* as low as | 16.20% |
Type | Student Select Rewards™ Visa®3 Introductory rate of 0% APR for the first twelve months on balance transfers and cash purchases. |
APR* as low as | 18.20% |
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. View the VISA® Application and Solicitation Disclosure for additional rate information.
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 payoff any ALEC loans.
Introductory Rate | 3.49% APR for the first 12 months 5,6 |
After Intro Rate, APR* as low as | 7.50% |
NMLS# 421478.
View a complete list of all other NMLS numbers.
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.
Home Equity Loans/Lines are available in Illinois, Ohio, Wisconsin and Minnesota only and limited to owner occupied properties. All borrowers will be required to pay a $350 appraisal fee at closing. Maximum loan to value may be reduced due to underwriting factors. Minnesota applicants are responsible for a mortgage registration tax.
Home Equity Line of Credit Introductory Rate: 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 November 30, 2022, the Prime Rate is 6.25%. The rate floor is 4.00%. Maximum APR during the life of the loan is 18% APR. $5,000 minimum initial draw required.
Type | Second Mortgage - 36 Month 1,8 |
APR* As Low As | 4.50% |
Type | Second Mortgage - 60 Month 1,8 |
APR* As Low As | 5.25% |
Type | Second Mortgage - 84 Month 1,8 |
APR* As Low As | 6.25% |
NMLS# 421478.
View a complete list of all other NMLS numbers.
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.
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, mortgage, Personal Lines of Credit and Home Equity Line of Credit.
Home Equity Loan: The rate displayed includes a 0.50% APR rate discount. Returning loan members who have a current loan with ALEC and is 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. Rates subject to credit history, term, and other factors.
Type | First Mortgages |
Quote |
NMLS# 421478.
View a complete list of all other NMLS numbers.
Type | New Auto 2, 3 2022-2023 less than 5,000 miles |
Loan Terms | Up to 36 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 48 months |
APR* as low as1 | 4.24% |
Type | |
Loan Terms | 60 months |
APR* as low as1 | 4.49% |
Type | |
Loan Terms | 72 months |
APR* as low as1 | 4.74% |
Type | |
Loan Terms | 84 months |
APR* as low as1 | 5.24% |
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.
APR = Annual Percentage Rate. 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 115% MSRP for qualified borrowers.
Refinance of existing ALEC Auto Loans excluded.
84-month loans are available with a minimum $25,000 loan amount.
Type | Used Auto 2 2016-2021 and 2021-2022 with over 5,000 miles |
Loan Terms | Up to 36 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 48 months |
APR* as low as1 | 4.24% |
Type | |
Loan Terms | 60 months |
APR* as low as1 | 4.49% |
Type | |
Loan Terms | 72 months |
APR* as low as1 | 4.94% |
Type | Late Model Used Auto 2015 and older |
Loan Terms | Up to 60 months |
APR* as low as1 | 6.99% |
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.
APR = Annual Percentage Rate. 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 115% MSRP for qualified borrowers.
Refinance of existing ALEC Auto Loans excluded.
Type | New 2 |
Loan Terms | 36 months |
APR* as low as1 | 6.49% |
Type | |
Loan Terms | 48 months |
APR* as low as1 | 6.74% |
Type | |
Loan Terms | 60 months |
APR* as low as1 | 6.99% |
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.
APR = Annual Percentage Rate. 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 115% MSRP for qualified borrowers.
Maximum Loan to Value (LTV) of 100% of vehicle value. Maximum amount financed $30,000. Maximum term 60 months.
Type | New & Used Motorcycles 3 2016 - 2023 |
Loan Terms | Up to 24 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 36 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 48 months |
APR* as low as1 | 4.49% |
Type | |
Loan Terms | 60 months |
APR* as low as1 | 4.74% |
Type | |
Loan Terms | 72 months |
APR* as low as1 | 4.99% |
Type | |
Loan Terms | 84 months |
APR* as low as1 | 5.49% |
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.
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.
84 month loans are available with a minimum $25,000 loan amount.
Type | New & Used RVs 2 |
Loan Terms | Up to 24 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 36 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 48 months |
APR* as low as1 | 4.49% |
Type | |
Loan Terms | 60 months |
APR* as low as1 | 4.74% |
Type | |
Loan Terms | 72 months |
APR* as low as1 | 4.99% |
Type | |
Loan Terms | 84 months |
APR* as low as1 | 5.49% |
Type | Extended Term RVs 2 2016 - 2023 |
Loan Terms | 120 months |
APR* as low as1 | 5.99% |
Type | |
Loan Terms | 180 months |
APR* as low as1 | 6.49% |
Type | |
Loan Terms | 240 months |
APR* as low as1 | 6.99% |
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.
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.
84 month and Extended Term RV loans are available with a minimum $25,000 loan amount.
Type | New & Used Boats, Marine 2 2016-2023 |
Loan Terms | Up to 24 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 36 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 48 months |
APR* as low as1 | 4.49% |
Type | |
Loan Terms | 60 months |
APR* as low as1 | 4.74% |
Type | |
Loan Terms | 72 months |
APR* as low as1 | 4.99% |
Type | |
Loan Terms | 84 months |
APR* as low as1 | 5.49% |
Type | Extended Term Boats 2 2016 - 2023 |
Loan Terms | 120 months |
APR* as low as1 | 5.99% |
Type | |
Loan Terms | 180 months |
APR* as low as1 | 6.49% |
Type | |
Loan Terms | 240 months |
APR* as low as1 | 6.99% |
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.
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.
84 month and Extended Term Boat loans are available with a minimum $25,000 loan amount.
Type | New & Used Snowmobiles 3 |
Loan Terms | Up to 24 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 36 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 48 months |
APR* as low as1 | 4.49% |
Type | |
Loan Terms | 60 months |
APR* as low as1 | 4.74% |
Type | |
Loan Terms | 72 months |
APR* as low as1 | 4.99% |
Type | |
Loan Terms | 84 months |
APR* as low as1 | 5.49% |
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.
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.
84 month loans are available with a minimum $25,000 loan amount.
Type | New & Used ATV & UTV 3 |
Loan Terms | Up to 24 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 36 months |
APR* as low as1 | 3.99% |
Type | |
Loan Terms | 48 months |
APR* as low as1 | 4.49% |
Type | |
Loan Terms | 60 months |
APR* as low as1 | 4.74% |
Type | |
Loan Terms | 72 months |
APR* as low as1 | 4.99% |
Type | |
Loan Terms | 84 months |
APR* as low as1 | 5.49% |
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.
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.
84 month loans are available with a minimum $25,000 loan amount.
Loan Terms | 36 months |
APR* as low as1 | 6.99% |
Loan Terms | 48 months |
APR* as low as1 | 7.99% |
Loan Terms | 60 months |
APR* as low as1 | 8.99% |
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.
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.
Account Type | Personal Line of Credit2 |
APR* as low as1 | 12.50% |
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.
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.
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 September 30, 2022, the Prime Rate is 6.25%.
Account Type | Certificate Secured Loan |
Loan Term | Up to 60 months |
APR* as low as1 | Certificate + 3.50% |
Account Type | Savings Secured Loan |
Loan Term | Up to 60 months |
APR* as low as1 | Share + 3.50% |
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.
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.
Account Type | Stock Loans - Single Pay |
Loan Term | Up to 15 months |
APR* as low as1 | 4.75% |
Account Type | Stock Loans - Installment |
Loan Term | Up to 60 months |
APR* as low as1 | 5.75% |
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.
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.