Last Updated: 04/18/2025
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Highlights
APR (Fixed APR)
Starting at 7.00%(Verified 06/21/2024)
Amount Range
N/A
Loan Term (Months)
Up to 60
ALEC Certificate Secured Loan Review
ALEC Certificate Secured Loan is offered by ALEC, a credit union founded in 1990 and based in Gurnee, IL. ALEC Certificate Secured Loan are available in 50 states and Washington, DC.
Key Takeaways
- APRs starting at 7.00%. Personal loan interest rates typically range between 9% and 36%. The starting rates for ALEC Certificate Secured Loan are on the lower end of the spectrum.
ALEC Certificate Secured Loan Pros & Cons
| Pros | Cons |
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ALEC Certificate Secured Loan FAQ
What interest rates and personal loan terms does ALEC Certificate Secured Loan offer?
ALEC Certificate Secured Loan has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does ALEC Certificate Secured Loan offer?
ALEC Certificate Secured Loan offers a fixed APR personal loan product that starts at 7.00% APR.
What is the maximum loan term you can get with ALEC Certificate Secured Loan?
ALEC Certificate Secured Loan offers loans with terms of up to 60 months.
| Personal Loan Amount | N/A |
| Loan Term | up to 60 months |
| APR | Starting at 7.00% |
What fees does ALEC Certificate Secured Loan charge?
Does ALEC Certificate Secured Loan charge an origination fee?
ALEC Certificate Secured Loan may charge a personal loan origination fee .
Does ALEC Certificate Secured Loan charge a late fee?
ALEC Certificate Secured Loan does not disclose whether it charges late payment fees.
Does ALEC Certificate Secured Loan charge prepayment fees?
No, ALEC Certificate Secured Loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | No |
| Prepayment Fee | No |
| Late Payment Fee | No |
What do you need to qualify for ALEC Certificate Secured Loan?
ALEC Certificate Secured Loan does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher. ALEC Certificate Secured Loan does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by ALEC Certificate Secured Loan.
To qualify, applicants may need to provide the following documentation:
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of identity
| Minimum Age | 18 |
| Bank Account Required? | No |
| Credit Score | N/A |
Does ALEC Certificate Secured Loan report your account activity to credit bureaus?
Yes, ALEC Certificate Secured Loan reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does ALEC perform a hard credit pull?
Yes, ALEC Certificate Secured Loan performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Are ALEC Certificate Secured Loan legit?
ALEC was founded in 1990, it is a well-established company that has been in business for 36 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
9:00AM - 12:30PM