What’s a Credit Union?
Like banks, credit unions are institutions that provide savings, credit and other financial services. However, there is an important distinction between them.
Credit unions are member-owned, not-for-profit financial cooperatives. Unlike banks, credit unions pool their members’ savings deposits and shares to finance their own loan portfolios rather than rely on outside capital. That means members receive higher returns on savings, lower rates on loans and fewer fees on average.
Since credit union members are part-owners of their financial institution, they have the opportunity to help their communities by starting small businesses, growing farms, building family homes, and supporting local education.
Credit unions are also safe places to keep your funds. Through the National Credit Union Administration (NCUA), Family Security Credit Union is federally insured up to $250,000 of qualifying deposits per depositor.
Now that you know about the advantages of credit union membership, join us and begin enjoying the benefits of being part of Family Security Credit Union.
It’s Easy to Become a Member
Family Security Credit Union membership is available to individuals and businesses who live, work, worship, attend school or operate in the counties we serve across Alabama.
In addition, employees and retirees of Ruby Tuesday, Inc. and employees and retirees of the Compass Group family of companies, families of members, and organizations of such persons are also eligible for membership.
To apply simply submit the online membership application or click the Apply Now button below. If you need help applying, please call us at (256) 340-2000 or (800) 239-5515 and a representative will be happy to help you.
You can also apply for membership at a branch location near you. Please call ahead and a Family Security Credit Union representative will prepare the documents required to open your new account.
If you live in Alabama, Mississippi, Tennessee, Florida, or Georgia, Family Security Credit Union membership is available through the Alabama Consumer Council (ACC). The ACC is a non-profit membership organization dedicated to consumer advocacy, financial education and championing the rights of all consumers. Membership with the ACC is free and you can join at any Family Security branch location.
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