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  • Tyndall Federal Credit Union Membership

    • Tyndall Federal Credit Union headquarters is in Panama City, Florida and has been serving members since 1956.
    • Manages over $1.92 billion in assets and serves over 112,000 members.

    Membership: Live, work, worship, attend school, or volunteer in the Panhandle of Florida or Southern Alabama.

  • PenAir Credit Union Membership

    • Pen Air Credit Union headquarters is in Pensacola, Florida and has served members since 1936.
    • Manages $2.93 billion in assets and serves over 126,000 members.

    Membership: Live, work, worship, or attend school in one of the eligible 17 counties between Tallahassee, FL and Mobile, AL.

  • Gulf Winds Credit Union Membership

    • Gulf Winds Credit Union headquarters is in Pensacola, Florida and has served members since 1954.
    • Manages $1,087,711,368 in assets and serves 83,184 members.

    Membership: Lives, works, worships, or attends school in one of the 75 counties served in Florida, Alabama, and Georgia.

  • 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.

  • 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.

  • Sixth Avenue Baptist Federal Credit Union Membership

    • Sixth Avenue Baptist Federal Credit Union is headquartered in Birmingham, Alabama and has served members since 1963.
    • Manages $5.22 Million in assets and serves over 900 members.

    Membership: Members of Sixth Avenue Baptist Church and their immediate family members.

  • NRS Community Development Federal Credit Union Membership

    • NRS Community Development Federal Credit Union is headquartered in Birmingham, Alabama and has served members since 1996.
    • Manages $1.46 Million in assets and serves over 800 members.

    Membership: Supporting low-income citizens, small businesses, and minority entrepreneurs in the East Lake and surrounding areas of Northeast Birmingham.

  • ​​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.

  • 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.

  • Mutual Savings Credit Union Membership

    • Mutual Savings Credit Union is headquartered in Birmingham, Alabama and has been serving members since 1936.
    • 23rd largest credit union in Alabama, managing $224.61 Million in assets and serving over 21,000 members.

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

  • Fort McClellan Credit Union Membership

    • Fort McClellan Credit Union is headquartered in Anniston, Alabama and has been serving members since 1953.
    • 22nd largest credit union in Alabama, managing $237.72 Million in assets and serving over 16,000 members.

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

  • 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.

  • New Horizons Credit Union Membership

    • New Horizons Credit Union is headquartered in Mobile, Alabama and has been serving members since 1950.
    • 20th largest credit union in Alabama, managing $263.87 Million in assets and serving over 23,000 members.

    Membership: If you live, work, worship, or attend school in specific counties in Alabama and Florida.

  • 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.

  • TVA Community Credit Union Membership

    • TVA Community Credit Union is headquartered in Muscle Shoals, Alabama and has served members since 1936.
    • 18th largest credit union in Alabama, managing $390.97 Million in assets and serving over 20,000 members.

    Membership: If you live, work, attend school, or attend church in Colbert, Lauderdale, Limestone, Marshall, Morgan, Lawrence, or Franklin Counties, Alabama.

  • WinSouth Credit Union Membership

    • WinSouth Credit Union is headquartered in Gadsden, Alabama and has been serving members since 1951.
    • 17th largest credit union in Alabama, managing $393.37 Million in assets and serving over 36,000 members.

    Membership: Lives, works, or is a member of a social or economic group in one of the Alabama counties served.

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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