certificates of deposit

Earn more on the money you're already saving when you choose a certificate that's right for you.

ALEC certificates

It's always wise to save money for an emergency or future plans and with an ALEC certificate of deposit, you can put that money to work. But if you're keeping a high balance in a savings account, you may earn higher interest rates with an ALEC Certificate.

Earn a fixed dividend rate for a better rate of return and get the peace of mind that comes from insured security. An ALEC Certificate assures you a fixed Annual Percentage Yield (APY) for a specified period of time.*

ALEC Fixed Rate Certificates feature:

Just a $500 minimum opening amount
A competitive, fixed interest rate
Terms from 6 to 60 months
Dividends that are paid monthly
Automatically reinvested dividends for maximum compounding

ALEC Variable Rate Certificates offer highly competitive rates, currently at 4.57% 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 October 31, 2024, the rate is 4.490%. The rate floor is 0% APY.

Certificate Rates

Type	Term	Nominal Rate	APY*
Certificates ^# $500 Minimum Balance	6 months	1.243%	1.25%
	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 Certificate ^** $500 Minimum Balance	24 months	4.793%	4.90%
Rewards Checking Certificate Bonus Rates ⁺ $500 Minimum Balance	6 months		N/A
	12 months	1.746%	1.77%
	24 months	2.247%	2.27%
	36 months	2.501%	2.53%
	48 months	2.998%	3.04%
	60 months	3.494%	3.55%

^# A penalty may be imposed on an early withdrawal of a Share Certificate. View our fee schedule.

** 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 August 31, 2024, the rate is 4.980%.

⁺ 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.

certificates of deposit

Put Your Money to Work

fixed rate certificates

ALEC Fixed Rate Certificates feature:

variable rate certificates

ALEC Variable Rate Certificates feature:

Certificate Rates

Ways to open an ALEC Certificate of Deposit

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