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

STATS: (As of Q4 2021)

Total Number of Credit Unions: 100

  • TOTAL # SCUs: 55
  • TOTAL # FCUs: 45
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 55%

Total Assets: $32,284,046,245

  • TOTAL $ SCU ASSETS: $18,131,225,775
  • TOTAL $ FCU ASSETS: $14,152,820,470
  • SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 55%

Total Members: 2,418,192

  • TOTAL Members SCUs: 1,228,251
  • TOTAL Members FCUs: 1,189,941
  • SCU % OF TOTAL (SCUS/STATE TOAL): 51%

FUN FACT: The first Electric Trolley System in the world was brought to life in Montgomery in 1886.


RECENT NEWS:

LSCU Board of Directors Reinvests More Than $1 Million to Strengthen the Credit Union Movement

December 15, 2021 / BIRMINGHAM, AL – Last week, the League of Southeastern Credit Unions’ (LSCU) Board of Directors approved reinvesting more than $1 million into programs that are paramount to credit unions future success and the communities they serve. This will be the second value transfer in 2021, totaling more than $2 million reinvested in a single calendar year.

“One of the objectives for LSCU’s for-profit holding company, Affiliates Consolidated Services (ACS), is to ‘directly or indirectly provide value back to parent company and its shareholders’”, stated LSCU & Affiliates CEO, Patrick La Pine. “These value transfers provide additional resources targeted at LSCU identified strategic priorities that will fuel future growth for our member credit unions. These allocations will undoubtedly enhance the credit union community as a whole and advance our legislative priorities both at the state and federal level.”

“We are committed to providing resources and programs that provide value back to our credit unions, especially as they continue to navigate the lingering effects of the COVID-19 pandemic,” said Kevin Johnson, LSCU Board Chair and President/CEO of Suncoast Credit Union. “As we transition into 2022, LSCU & Affiliates is proud to share in our financial success with member credit unions to their benefit. We are stronger together.”

READ MORE


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