Federal credit unions of Alabama are financial institutions that provide banking services to their membership. Members of Alabama federal credit unions must meet a defined set of membership requirements such as living in certain areas or belonging to a non-profit group.

A credit union in Alabama also may serve specific employee groups, known as Select Employee Groups, such as doctors or employees of a specific company. An Alabama federal credit union may be able to switch to a community charter, which allows them to serve anyone who lives, works, worships or attends school within a defined area.

The primary difference between credit unions and Alabama banks is that Alabama credit unions are tax exempt. There are three basic reasons why this is so:

1. A credit union in Alabama must be a non-profit, financial cooperative its members own.

2. Members must elect the board of directors for a federal credit union and the board must serve as unpaid volunteers.

3. Federal credit unions of Alabama provide services to members of modest means as part of their social mission. They must also place limitations on their memberships with restrictions on the products and services they provide.

Action Steps
The best contacts and resources to help you get it done

Locate a specific Alabama credit union by name

You can easily locate a credit union if you have some basic information about it such as its name or the location of one of its branches. A credit union's name will normally give you an idea of the basis of its membership, although the requirements for membership are frequently broader than this.

I recommend: The Credit Union Service Center provides detailed information on all of its registered credit unions within Alabama. Credit Unions Online is a portal to websites for credit unions Alabama.

Find federally chartered credit unions in Alabama by location

Resources are available to locate all of the credit unions based in your area, which you may wish to do because residency is a common membership requirement for many credit unions.

I recommend: CU Village.com allows you to find credit unions within your zip code. If none are found, this locator will show the credit unions that are closest to you. USA Credit Unions provides all of its credit unions in Alabama on a single page and also has a credit union locator by name and zip code.

Join one of the local Alabama federal credit unions

Examine the membership requirements of credit unions and Alabama laws to know if you are eligible to join and if they will provide the services you need.

I recommend: America’s First Federal Credit Union is one of the north Alabama credit unions available to persons who live, work, worship or attend school in Bibb, Blount, Chilton, Jefferson, Shelby, St. Clair or Walker counties. Alabama Central Credit Union serves employees of more than 800 companies in Alabama.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Natural-person credit unions serve individuals and form the majority of Alabama federal credit unions. Corporate credit unions serve natural-person credit unions by providing them with operational support, products and other services. Corporate credit unions also act as a funds clearing house for natural-person credit unions.