1st Resource Credit Union

Overview / Commentary
47 W Oxmoor Rd
Birmingham, AL 35209

1st Resource Credit Union is headquartered in Birmingham and is the 43rd largest credit union in the state of Alabama. It is also the 2,462nd largest credit union in the nation. It was established in 1940 and as of September of 2020, it had grown to 9 employees and 2,421 members at 2 locations. 1st Resource Credit Union's money market rates are 3X 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.
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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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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

NCUA #64232
Year Chartered1940
Primary Regulator
Profit Margin
Return on Assets - YTD0.12%
Return on Equity - YTD1.3%
Annual Interest Income$1.4MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$48.6MM$38.2MM
LoansQ3 2020vs Q3 2019$34.6MM$28.1MM
DepositsQ3 2020vs Q3 2019$44.0MM$33.5MM
Equity CapitalQ3 2020vs Q3 2019$4.5MM$4.5MM
Loan Loss AllowanceQ3 2020vs Q3 2019$311.00K$226.00K
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$29.00K$477.00K
Real Estate OwnedQ3 2020vs Q3 2019$0$0
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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

1.51%--IRA Savings Account
0.25%$100-Regular Share Savings Account

1st Resource Credit Union Money Market Rates

1.25%*$250k*-Money Market Accounts
OTHER TIERS: 0.25% $100 - $75k | 0.50% $75k - $125k | 1.00% $125k - $250k

1st Resource Credit Union CD Rates

1.00%--36 Month Share Certificate
0.80%--15 Month Share Certificate Special
0.75%--24 Month Share Certificate
0.50%--6 Month Share Certificate
0.50%--12 Month Share Certificate

1st Resource Credit Union IRA Rates

1.00%--36 Month IRA Share Certificate
0.80%--15 Month IRA Share Certificate Special
0.75%--24 Month IRA Share Certificate
0.50%--6 Month IRA Share Certificate
0.50%--12 Month IRA Share Certificate

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

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