About Us

Credit Union

A credit union is a member-owned, nonprofit cooperative financial institution, formed to encourage savings and make loans to its members. Chartered in 1969 with seven members, Alabama Rural Electric Credit Union has grown to over 3,800 members and over $25 million in assets.


We invite employees and retirees of the Alabama Rural Electric Association of Cooperatives and of its member electric cooperatives, and the member(s) of those cooperatives, to share the outstanding benefits of Alabama Rural Electric Credit Union.

We offer you the ultimate in financial convenience. No waiting in long lines with us! We’ll handle your finances by phone or mail. Plus, a co-op representative is at your service for your one-on-one needs.

Since we’re nonprofit, we’re here only to serve you. Our board of directors consists of people, just like you, who work for Alabama Rural Electric Cooperatives. Join us today and take advantage of the services we offer.

Retirees Welcome!

You're never too old to be a credit union member. Some people think just because they retire from their electric cooperative, they can no longer be members of the credit union. Not so. Once a credit union member, always a credit union member! In fact, the folks at your credit union can help you deposit your Social Security checks directly and safely into your account every month.

Family Members Welcome!

Every credit union is bound by a "field of membership", which outlines who's eligible to join. Your credit union is open to employees and members of Alabama's electric cooperatives and their immediate families, which include grandparents, parents, stepparents, spouses, children, stepchildren, grandchildren, brothers, and sisters. In order to join the credit union, an eligible person simply fills out and signs a membership card, and sends in $10.25 to open a basic share account. Copies of two forms of identification (social security card, driver's license, employee ID, military ID, or other) must accompany the membership card.

Safe and Sound!

The Alabama Rural Electric Credit Union wants you to know that the United States credit union system is stronger than ever. Credit unions maintain a credit buffer of nearly 10 percent, which is substantially higher than the 7 percent threshold defined as "well capitalized" by law. More importantly, your accounts at the credit union are federally insured, and as safe and protected as they always have been. The National Credit Union Association continues to insure deposits up to $250,000 per account at every credit union. So no matter what the U.S. economy does, rest assured that your credit union deposits are insured and well protected.