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our rates

Rates are effective as of January 1, 2023 and are subject to change without notice.


Rewards Checking Rates


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.

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Please refer to rewards checking page for account requirements and fees.

Money Market

$2,000 Minimum Balance

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

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.

Health Savings Account (HSA)-Savings

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.

Health Savings Account (HSA)-Certificates#

$500 Minimum Balance

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.

Individual Retirement Account (IRA) Savings

Roth, Traditional, Education

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.

Individual Retirement Account (IRA) Certificates#

Roth, Traditional, Education $500 Minimum Balance

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.

Certificates#

$500 Minimum Balance

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.

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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.

Accelerator Certificate***

$500 Minimum Balance

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.

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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.

Variable Rate Certificate**, #

$500 Minimum Balance

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.

Variable Rate Health Savings Account (HSA)-Certificate**, #

$500 Minimum Balance

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.

Variable Rate Individual Retirement Account (IRA) Certificate**, #

$500 Minimum Balance

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.

Credit Cards

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 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.

Home Equity Line of Credit

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.

Home Equity Loans

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.

Mortgage

NMLS# 421478.

View a complete list of all other NMLS numbers.

New Car Loan

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.

Used Car Loan

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.

First Time Auto Buyer Loan

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.

Motorcycle Loans

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.

RV Loans

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.

Boat Loans

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.

Snowmobile Loans

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.

ATV & UTV Loans

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.

Personal Loans

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.

Personal Line of Credit

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%.

Secured Loans

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.

Stock Loans

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.

Student Loans

Learn more about the College Ave Student Loans.