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ALEC Promotional Rates

enjoy higher rates and flexibility.

Want a competitive rate and the flexibility to choose a Certificate of Deposit term that works for you? ALEC has the savings solution for you. During the month of April, select the ALEC Certificate term that fits your needs.

ALEC Certificates feature:
  • Choose from 12-60 month terms
  • $500 minimum to open, regular Share Certificates only
  • Dividends automatically reinvested for maximum compounding
  • 4.00% APY* rate available until April 30, 2024

You can also split money across multiple terms to maintain flexibility and reach your financial goals. Open a certificate today by visiting an ALEC Service Center or calling us at 800.762.9988.

* 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. The nominal rate is the rate used to calculate the monthly dividend.
Home Equity Line of Credit

you have plans. let your home pay for it.

A HELOC is an easy and affordable way to finance whatever plans you’ve made. From home improvements to college tuition, dream vacations and more, we're here to make it happen. Set up your HELOC today and have a flexible financing option to borrow cash against the equity in your home.

Be entered to win a $500 Home Depot® gift card when you apply before May 31, 2024.^

Fund a new HELOC at ALEC or make a $5,000 or more advance on your current HELOC at the credit union and you’ll automatically be entered to win a $500 Home Depot® gift card.

Apply online or through the ALEC Mobile app. You can also visit an ALEC Service Center or call us 24/7 at 800.762.9988. HELOC — it's the smart way to let your home pay for whatever you're planning.

* 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. ALEC will waive closing costs up to $500 for fees that include title insurance, recording fees and flood certification. Borrowers are required to have homeowners insurance on the property. 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. Current members modifying, increasing or refinancing existing ALEC home equity lines of credit are not eligible for the introductory 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 February 29, 2024, the Prime Rate is 8.50%. 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 Offer subject to change without notice.
^ Sweepstakes begins April 1, 2024 and ends May 31, 2024. No purchase or loan advance necessary to enter or win. Purchase does not increase your chances of winning. Sweepstakes is open to members with a current ALEC Home Equity Line of Credit or those that complete an advance of $5,000 or more during the promotional period. Limit one automatic entry per member household. Click for complete sweepstakes rules or visit any ALEC Service Center.
Apply online

driven to do more.

Auto loans with low rates and better pricing on auto loan protection.

When it comes to purchasing a vehicle, ALEC is here to help you make all the right turns to get the best financing option. Whether you’re purchasing new or used or looking to refinance, we have what you need. Rates as low as 5.49% APR* for 36 months.

  • Up to 115% financing of the value of new and used autos
  • Fast approvals when you apply online
  • Up to 0.50% discount off our current rates1
  • Flexible terms up to 84 months
  • No prepayment penalty

Apply online or through the ALEC Mobile app. You can also visit an ALEC Service Center or call us 24/7 at 800.762.9988. ALEC has just what you need to start driving better.

* APR = Annual Percentage Rate. All loans subject to credit approval. Advertised rate valid on 36 month New or Used Auto loans applied for from March 1-April 30, 2024.
1Disclosed rate includes 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 0.50% APR discount with a $500 monthly direct deposit into an ALEC Checking account and enrollment in E-Statements. Maximum financing up to 115% MSRP for qualified borrowers. Your actual APR depends on credit history. Auto Loan Protection products including Guaranteed Asset Protection (GAP) and Mechanical Breakdown Protection (MBP) offered by ALEC in partnership with Allied Insurance LLC.
Apply Online

variable rate certificates

ALEC Variable Rate Certificates offer highly competitive rates, currently at 5.43% APY* and vary on a monthly basis with the 13-week U.S. Treasury Bill (Index + 0.15%)**. Variable rate certificates can benefit from rising interest rates, even if there’s a chance that rates could also go down. But compared to traditional savings and money market accounts, ALEC Variable Rate Certificates typically offer a higher rate of return.

ALEC Variable Rate Certificates feature:
  • $500 minimum to open the account
  • Available as a traditional certificate, IRA or HSA
  • Term of 24 months
  • Dividends tied to the U.S. Treasury Bill paid monthly
  • Automatically reinvested dividends for maximum compounding
* 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 February 28, 2023, the rate is 4.75%. The rate floor is 0% APY.