Alabama
Montgomery, Alabama
REGULATING AGENCY: Alabama Credit Union Administration
- Greg McClellan, Administrator
- Lloyd Moore, Assistant Administrator
- Website: acua.alabama.gov
- Announcements
ACCREDITED: 1998
LEAGUE: League of Southeastern Credit Unions & Affiliates, Alabama Credit Union Association (ACUA)
- Patrick La Pine, Chief Executive Officer
- Samantha Beeler, President
- Website: lscu.coop
- Publications/Communications
- Stats and Resources
PRIVATE SHARE INSURANCE: YES
2023 STATS
- Largest SCU: APCO EMPLOYEES $3.55B in assets
- Largest FCU: REDSTONE FCU $7.40B in assets
| Second Quarter 2023 | SCUs | FCUs | Total CUs | % of SCUs/Total |
|---|---|---|---|---|
| Total Credit Unions | 52 | 44 | 96 | 54.17% |
| Credit Union Members | 1.31M | 1.3M7 | 2.68M | 48.95% |
| Credit Union Assets | $19.32B | $15.27B | $34.60B | 55.85% |
FUN FACT
The first Electric Trolley System in the world was brought to life in Montgomery in 1886.
RECENT NEWS
State Regulators Stop Fraudulent Artificial Intelligence Investment Scheme
April 14, 2023 — The Texas State Securities Board joined the Alabama Securities Commission and the Montana Securities Commission in filing enforcement actions to stop a fraudulent artificial intelligence investment scheme. The actions accuse YieldTrust.ai and Stefan Ciopraga of illegally soliciting investments tied to a decentralized application (dApp) that purportedly uses quantum artificial intelligence to trade digital assets. The initial scheme recently collapsed, and the respondents are now allegedly perpetrating a Ponzi scheme by raising capital from new investors to cover withdrawals from previous investors. Read more
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