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1st Resource Credit Union


Overview / Commentary
my1resourcecu.com
205-944-1192
47 W Oxmoor Rd
Birmingham, AL 35209

1st Resource Credit Union is headquartered in Birmingham and is the 45th largest credit union in the state of Alabama. It is also the 2,575th largest credit union in the nation. It was established in 1940 and as of December of 2019, it had grown to 9 employees and 2,294 members at 2 locations. 1st Resource Credit Union's money market rates are 4X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership in 1st Resource Credit Union is open to those who live, work, or worship in Montgomery or Jefferson Counties in Alabama.
See current membership details

Related Posts

1st Resource Credit Union (AL) Adds 15-Month CD Special w/Add-Ons - 2/19/2020

Last week, 1st Resource Credit Union (1st Resource) raised the rates on its 24- and 36-month Share Certificates and 15-month Share Certificate Special.

24-Month CD, 2.85% APY - 2/15/2020

2.85% APY offered on both 24-month and 36-month Share Certificates. 1st Resource will allow deposits into the Share Certificate with no penalty. On a Certificate greater than twelve months, the penalty is two months interest. Residents of Jefferson (Birmingham area) and Montgomery (state capital) Counties can join.

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Health
B

Data as of Q4 2019

Learn why bank health matters
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. 1st Resource Credit Union has a low asset base.

Health Grade Components

Overall
NCUA #64232
Year Chartered1940
Employees9
Primary Regulator
Profit Margin
Return on Assets - YTD0.09%
Return on Equity - YTD0.76%
Annual Interest Income$1.9MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$39.5MM$39.6MM
LoansQ4 2019vs Q4 2018$30.3MM$28.7MM
DepositsQ4 2019vs Q4 2018$34.8MM$35.0MM
Equity CapitalQ4 2019vs Q4 2018$4.5MM$4.5MM
Loan Loss AllowanceQ4 2019vs Q4 2018$278.00K$153.00K
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$470.00K$164.00K
Real Estate OwnedQ4 2019vs Q4 2018$0$37.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

1st Resource Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.25%$100-IRA Savings Account
0.75%$100-Regular Share Savings Account

1st Resource Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%*$250k*-Money Market Accounts
OTHER TIERS: 0.75% → $100 - $75k | 1.00% → $75k - $125k | 1.50% → $125k - $250k

1st Resource Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%$500-36 Month Share Certificate
1.25%$500-15 Month Share Certificate Special
1.00%$500-24 Month Share Certificate
0.75%$500-6 Month Share Certificate
0.75%$500-12 Month Share Certificate

1st Resource Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%$100-24 Month IRA Share Certificate
1.25%$100-15 Month IRA Share Certificate Special
1.00%$100-36 Month IRA Share Certificate
0.75%$100-6 Month IRA Share Certificate
0.75%$100-12 Month IRA Share Certificate
Locations


1st Resource Credit Union Locations
Branch Office47 W Oxmoor RdBirmingham, AL 35209
Branch Office2914 Chestnut StMontgomery, AL 36107

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