Alabama

Montgomery, Alabama

REGULATING AGENCY: Alabama Credit Union Administration

ACCREDITED: 1998

LEAGUE: League of Southeastern Credit Unions & Affiliates, Alabama Credit Union Association (ACUA)

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


STORY ARCHIVE

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