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  • Redstone FCU logo

    Redstone Federal Credit Union Membership

    • Redstone Federal Credit Union is a member-owned financial cooperative providing banking services, including savings, loans, and other financial services.
    • The largest credit union in Alabama, with assets totaling $6.1 Billion and serving over 537,000 members.

    Membership: Over 1,500 organizations, clubs, churches, and businesses make you eligible.

  • 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.

  • 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.

  • 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.

  • 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.

  • Max Credit Union

    Max Credit Union Membership

    • Max Credit Union is headquartered in Montgomery, Alabama and has served members since 1955.
    • 5th largest credit union in Alabama, managing $2.03 Billion in assets and serving over 122,000 members.

    Membership: Serving Central and East Alabama.

  • 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.

  • Listerhill Credit Union

    Listerhill Credit Union Membership

    • Listerhill Credit Union is headquartered in Muscle Shoals, Alabama and has served members since 1952.
    • 7th largest credit union in Alabama, managing $1.38 Billion in assets and serving over 94,000 members.

    Membership: If you live in Alabama, Georgia, Mississippi, Florida, or Tennessee.

  • 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.

  • Guardian Credit Union

    Guardian Credit Union Membership

    • Guardian Credit Union is headquartered in Montgomery, Alabama and has been serving members since 1958
    • 9th largest credit union in Alabama, managing $963.3 Million in assets and serving over 88,000 members.

    Membership: Anyone who lives, works, worships, or attends school in the 14 Alabama counties served.

  • Family Security Credit Union

    Family Security Credit Union Membership

    • Family Security Credit Union is headquartered in Decatur, Alabama and has served members since 1953.
    • 10th largest credit union in Alabama, managing $931.72 Million in assets and serving over 89,000 members.

    Membership: Available to individuals and businesses who live, work, worship, or attend school in the counties served across Alabama.

  • Family Savings Credit Union

    Family Savings Credit Union Membership

    • Family Savings Credit Union is headquartered in Gadsden, Alabama and has been serving members since 1951
    • 11th largest credit union in Alabama, managing $896.83 Million in assets and serving over 75,000 members.

    Membership: Serving members in select counties in Alabama and Georgia

  • Five Star Credit Union

    Five Star Credit Union Membership

    • Five Star Credit Union is headquartered in Dothan, Alabama and has been serving members since 1964.
    • 12th largest credit union in Alabama, managing $780.46 Million in assets and serving over 56,000 members.

    Membership: Live or work in designated counties in Alabama and Georgia.

  • Federation of Greene County Employees Federal Credit Union

    Federation of Greene County Employees Federal Credit Union Membership

    • FOGCE Federal Credit Union is headquartered in Eutaw, Alabama and has been serving members since 1975.
    • Manages $1.65 Million in assets and serves over 800 members.

    Membership: If you live within the geographical areas the credit union serves.

  • Legacy Community Federal Credit Union

    Legacy Community Federal Credit Union Membership

    • Legacy Community Federal Credit Union is headquartered in Birmingham, Alabama and has served members since 1955.
    • 13th largest credit union in Alabama, managing $643.45 Million in assets and serving over 40,000 members.

    Membership: Live, work, worship, or attend school in 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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