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750 17th St N
Birmingham, AL 35203

Apco Employees Credit Union is headquartered in Birmingham and is the 2nd largest credit union in the state of Alabama. It is also the 60th largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 105 employees and 69,078 members. Apco Employees Credit Union's savings rates are 3X the national average, and it has a A health rating.

Field of Membership Restrictions

MUst be an employee or retiree of Alabama Power Company, Southern Company Services, Southern Nuclear or other affiliated companies of the Southern Company. - See Details

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Reviews (2)

1.26% Savings Rate (Share Account)

Recently opened an account here. My mother is a member which was my "in" but I asked the teller and she said they take customers words for it so if you were to join and say you worked for apco or one of the other groups, they wouldnt question you over it.

The share account pays interest quarterly which is unusual.

Im not clear on how long their rate has been 1.26% or how long it will continue.

But, since capone has taken over ING, I began seriously looking for a better place for my 6 figure account and APCO was the best i could find. I just hope it continues.

I guess they have a free checking account that pays interest too.

But, I maintain my ING account for my checking for now as well as a small savings there. I had intended to switch my checking to Ally but their format is not as good. And you cant tell from your account any future trransfers.

Hopefully, I will get off my duff and invest most of my money rather than letting it sit at such low rates.

I did recently buy shares in APCOs parent, Southern Company. Nice dividend yield at about 4.5% and a terrific long term track record of total returns.  My first utility. Considering buying others because a number of them also have good long term track records and good yields.


In the past, I took much more risk as an investor but over the last 7-8 years, Ive had a number of situations work out via buyouts mergers or sales and I have not been able to reinvest all the proceeds. So the cash sits in savings accounts.

Thats got to change.


My goal for SO is at least a 10% total return but even if I just earn the dividend and no capital gains over the long term, thats better than a savings account or a CD.


And I set my account up to reinvest the dividends since I dont need the cash.

Never An Issue

I collect credit unions whenever I'm eligible. I only have a savings account and I have previously held a CD.

Rates are fantastic. The online account interface is an older-looking system and it's not always intuitive. This was never a problem for me - it met my needs and I usually all or visit if I have something complicated.

Interest is paid quarterly, which is unusual but does not undo the higher rates. It's a smaller credit union so there may not be a convenient location near you, but for me it's a place to stash cash so it's never been an issue.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Apco Employees Credit Union had $4.75 million in non-current loans and owned real-estate with $233.55 million in equity and loan loss allowances on hand to cover it. This gives Apco Employees Credit Union a Texas Ratio of 2.04% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Apco Employees Credit Union experienced no significant changes from 2.23% as of March 31, 2013 to 2.04% as of March 31, 2014, resulting in a positive change of 8.76%.This indicates that the balance sheet and financial strength for Apco Employees Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Apco Employees Credit Union has increased its total deposits by $76 million, resulting in 3.54% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Apco Employees Credit Union has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Apco Employees Credit Union has $2.46 billion in assets with $233.55 million in equity, resulting in a capitalization level of 9.48%, which is average.

Institution Statistics

NCUA #62728
Year Chartered1953
Primary Regulator
Assets and Liabilities
Assets$2.46 billion
Loans$599.21 million
Deposits$2.23 billion
Equity Capital$231.75 million
Loan Loss Allowance$1.80 million
Unbacked Noncurrent Loans$2.86 million
Real Estate Owned$1.89 million
Historic Data - March 2013
Assets$2.38 billion
Equity Capital$223.39 million
Loan Loss Allowance$1.63 million
Unbacked Noncurrent Loans$2.86 million
Real Estate Owned$2.20 million
Profit Margin - Quarterly
Net Interest Margin0.94%
Return on Assets0.76%
Return on Equity8.11%
Interest Income$13.58 million
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Apco Employees Credit Union Savings Account Rates

1.51%$25-IRA Share Account
1.51%$25-Roth IRA Share Account
1.00%$25-Share Account
1.00%$25-Christmas Club Account

Apco Employees Credit Union Checking Account Rates

0.50%$2k-Checking Account

Apco Employees Credit Union CD Rates

1.77%$2,500-60 Month CD
1.51%$2,500-48 Month CD
1.41%$2,500-36 Month CD
1.36%$2,500-37 Month 1 Time Step Up CD
1.31%$2,500-30 Month CD
1.26%$2,500-24 Month CD
1.21%$2,500-18 Month CD
1.16%$2,500-366 Day CD
0.80%$2,500-182 Day CD
0.70%$2,500-91 Day CD
0.60%$2,500-30 Day CD
0.60%$2,500-45 Day CD
0.60%$2,500-60 Day CD

Apco Employees Credit Union IRA Rates

1.77%$500-60 Month IRA CD
1.51%$500-48 Month IRA CD
1.41%$500-36 Month IRA CD
1.36%$500-37 Month 1 Time Step Up IRA CD
1.31%$500-30 Month IRA CD
1.26%$500-24 Month IRA CD
1.21%$500-18 Month IRA CD
1.16%$500-366 Day IRA CD
0.80%$500-182 Day IRA CD

Apco Employees Credit Union has 15 locations. Click to view all Apco Employees Credit Union locations.