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  • Alabama Central Credit Union

    Alabama Central Credit Union Membership

    • Alabama Central Credit Union is headquartered in Birmingham, Alabama and has served members since 1938.
    • 24th largest credit union in Alabama, managing $198.58 Million in assets and serving over 23,000 members.

    Membership: Live, work, worship, or attend school in specific Alabama counties.

  • Alabama Credit Union

    Alabama Credit Union Membership

    • Alabama Credit Union is headquartered in Tuscaloosa, Alabama and has served members since 1956.
    • 6th largest credit union in Alabama, managing $1.93 Billion in assets and serving over 151,000 members.

    Membership: Persons who live, worship, work (or regularly conduct business in), or attend school in Alabama Counties.

  • Alabama One Credit Union

    Alabama One Credit Union Membership

    • Alabama One Credit Union is headquartered in Tuscaloosa, Alabama and has been serving members since 1951
    • Manages $970 million in assets and serves over 78,000 members.

    Membership: You are eligible for membership through several ways, including where you live, work, or worship, what company you work for, and what company you receive power from.

  • Alabama Teachers Credit Union

    Alabama Teachers Credit Union Membership

    • Alabama Teachers Credit Union is headquartered in Gadsden, Alabama and has served members since 1959.
      14th largest credit union in Alabama, managing $529.1 Million in assets and serving over 33,000 members.

    Membership: Live, work, or attend school in Calhoun, Cherokee, DeKalb, Etowah, or Marshall County.

  • All In Credit Union

    All In Credit Union Membership

    • All In Credit Union is headquartered in Daleville, Alabama and has served members since 1966.
    • 3rd largest credit union in Alabama, managing $2.98 Billion in assets and serving over 174,000 members.

    Membership: Serving over 800 businesses and organizations in Alabama, Florida, and Mississippi.

  • Americas First Federal Credit Union

    Americas First Federal Credit Union Membership

    • Americas First Federal Credit Union is headquartered in Birmingham, Alabama and has been serving members since 1936.
    • 4th largest credit union in Alabama, managing $2.4 Billion in assets and serving over 202,000 members.

    Membership: Live, work, worship, or attend school in a county served by Americas First.

  • AOD Federal Credit Union

    AOD Federal Credit Union Membership

    • AOD Federal Credit Union is headquartered in Oxford, Alabama and has served members since 1950.
    • 15th largest credit union in Alabama, managing $435.41 Million in assets and serving over 37,000 members.

    Membership: Serving 61 underserved census tracks within 10 counties in close proximity to our main branch in Oxford, AL.

  • APCO Employees CU logo

    APCO Employees Credit Union Membership

    • APCO Employees Credit Union provides financial solutions such as loans, investment, savings, credit and debit cards, online banking, and other related services.
    • 2nd largest credit union in Alabama with assets totaling $3.22 Billion and providing banking services to more than 72,000 members.

    Membership: Employee or retiree of Alabama Power Company, Southern Company Services, Southern Nuclear or other affiliated companies of the Southern Company. Family members, related by blood or marriage, to any APCO Credit Union member.

  • ASE Credit Union

    ASE Credit Union Membership

    • ASE Credit Union is headquartered in Montgomery, Alabama and has served members since 1954.
    • 16th largest credit union in Alabama, managing $398.26 Million in assets and serving over 45,000 members.

    Membership: If you live, work, worship, or attend school in the 8 counties surrounding Montgomery, AL.

  • Auburn University Credit Union

    Auburn University Credit Union Membership

    • Auburn University Credit Union is headquartered in Auburn, Alabama and has served members since 1960.
    • 21st largest credit union in Alabama, managing $238.97 Million in assets and serving over 17,000 members.

    Membership: Live, work, worship, or attend schools in specific Alabama counties.

  • Avadian Credit Union

    Avadian Credit Union Membership

    • Avadian Credit Union is headquartered in Hoover, Alabama and has served members since 1934.
    • 8th largest credit union in Alabama, managing $1.33 Billion in assets and serving over 94,000 members.

    Membership: If you live, work, worship, or attend school in any of the counties served by the credit union.

  • Birmingham City Credit Union

    Birmingham City Credit Union Membership

    • City of Birmingham General Employees Credit Union is headquartered in Birmingham, Alabama and has been serving members since 1956.
    • Manages $9.78 Million in assets and serves over 2,000 members.

    Membership: Membership in Birmingham City Credit Union is open to city employees and their immediate family members, including spouse, dependent children and grandchildren.

  • Bridgeway Federal Credit Union

    Bridgeway Federal Credit Union Membership

    • Bridgeway Federal Credit Union is headquartered in Phenix City, Alabama and has served members since 1960.
    • Manages $69.94 Million in assets and serves over 8,000 members.

    Membership: Anyone who lives, works, attends school, worships, or volunteers in specific Alabama and Georgia counties.

  • Coosa Pines Federal Credit Union

    Coosa Pines Federal Credit Union Membership

    • Coosa Pines Federal Credit Union is headquartered in Childersburg, Alabama and has been serving members since 1950.
    • 19th largest credit union in Alabama, managing $357.84 Million in assets and serving over 25,000 members.

    Membership: Persons who live, work, worship, or attend school in and businesses and other legal entities located within specific Alabama counties.

  • Demopolis Federal Credit Union

    Demopolis Federal Credit Union Membership

    • Demopolis Federal Credit Union is headquartered in Demopolis, Alabama and has been serving members since 1966.
    • Manages $2.16 Million in assets and serves over 600 members.

    Membership: If you live, work, or worship in Demopolis, AL.

  • ​​ECO Credit Union

    ​​ECO Credit Union Membership

    • ​​ECO Credit Union is headquartered in Birmingham, Alabama and has served members since 1979.
    • 25th largest credit union in Alabama, managing $195.35 Million in assets and serving over 16,000 members.

    Membership: Anyone who lives, works, worships, or attends school in the specific Alabama counties.

What is Banking?

Banking is a form of money management using products and services related to savings and loans.

Different Types of Financial Institutions

Banks

Banks are what we typically associate with banking. They come in different sizes: local, national, traditional and online-only. Federal or state agencies supervise banks. The FDIC insures deposits of participating banks.

Credit Unions

Credit unions are not-for-profit financial institutions. They offer products and services similar to banks with a focus on member service, not profit. The NCUA insures deposits from participating credit unions.

Alternative Financial Services

Many fintechs are non-chartered financial services companies that offer banking services. You might think of them as an app offering checking and savings accounts, debit cards, payments, etc. They are not banks but work with partner banks or credit unions to hold your deposits.

Types of Banking Accounts

Banking accounts help make financial transactions convenient.

Savings Account

A savings account helps you save your money. You’re storing your money for future use and hopefully earning a reasonable interest rate. Interest is the money you earn for letting the bank keep your money. Some financial institutions impose minimum deposits, withdrawal limits, and fees.

Checking Account

A checking account is a transactional account that allows you to make deposits and withdrawals of your money anytime. Checking accounts is not the best place to store your money, as the goal of the account is for use, not saving.

Most checking accounts do not pay interest, but some do. Be mindful of transaction limits, minimum balance requirements, and fees.

Debit Card

Checking accounts come with a debit card enabling you to spend your money conveniently. A debit card allows for making purchases at stores and online shopping. You can only spend the money that’s in your checking account. Additionally, you can use your debit card at ATMs to make deposits, withdrawals, check balances, and transfers between accounts.

Money Market Account

A money market account is a type of hybrid savings and checking account. It tends to have higher deposit requirements but often pays more interest than a savings account.

Certificate of Deposit (CD)

A certificate of deposit, also known as a CD, helps you save money with a set interest rate for a specific amount of time. Your cash is term-locked. In exchange, you get a higher interest rate compared to a traditional savings account. Certificate terms can start at 30 days and go to 5 or more years.

How to Choose the Best Banking Service

You have many choices on the type of account to use and the variety of financial institutions available. So, shop around. Ask the following questions to help you narrow down your choices:

  • What are the products and services offered?
  • What are the fees?
  • Are there minimum balance requirements?
  • Do I need a physical location (like a branch) or prefer better mobile app services?
  • Does local banking matter or is national big bank convenient?
  • Are deposits FDIC or NCUA insured?
  • How to access your money?
  • Debit card? ATM network?
  • Can I set auto-transfers, auto-payments, and alerts?

You want to determine how the banking provider aligns with your needs, the cost of services, safety, security, and overall convenience.

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