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Certificates

certificates of deposit

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

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Savings amounts based on comparisons to ALEC’s Certificate rates as of May 1, 2024, and monthly rate data reported to the FDIC as of April 15, 2024. We cannot and do not guarantee their applicability in regard to your individual circumstances.

ALEC certificates

Put Your Money to Work

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.

Put-Your-Money-To-Work

Certificate Rates

TypeTermNominal RateAPY*
Certificates #
$500 Minimum Balance
 6 months1.243%1.25%
12 months1.736%1.75%
24 months2.227%2.25%
36 months2.472%2.50%
48 months2.960%

3.00%

60 months3.445%

3.50%

Variable Rate Certificate **
$500 Minimum Balance
 24 months4.793%4.90%
Rewards Checking Certificate
Bonus Rates +
$500 Minimum Balance
 6 monthsN/A
12 months1.746%1.77%
24 months2.247%2.27%
36 months2.501%2.53%
48 months2.998%3.04%
60 months3.494%3.55%
* 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.
# 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 April 30, 2024, the rate is 5.250%.
+ 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.