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


Deal Summary: 15-month Share Certificate Special (2.85% APY), 24-month and 36-month Share Certificates (2.85% APY), $500 minimum deposit, unlimited add-on deposits.

Availability: Residents of Jefferson and Montgomery Counties, Alabama.

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 to 2.85% APY. The minimum opening deposit is $500, with no stated balance cap.

In addition to a competitive rate, all three Share Certificates have an add-on feature.

1st Resource will allow deposits into the Share Certificate with no penalty.

When I first read that awkwardly-worded sentence, I wasn’t sure exactly what it meant. According to CSR, unlimited additional deposits (no minimum/maximum $ amount) are allowed throughout the term.

The Share Certificates and the Share Certificate Special are also available as IRAs (Traditional and Roth) earning the same 2.85% APY, but with a lower $100 minimum deposit.

As stated on the Share Certificates Account page, the Early Withdrawal Penalty reads as follows,

On a Certificate greater than twelve months, the penalty is two months interest.

Thanks to DA reader, Carpline, for posting this competitive offering in the Forum.


Headquartered in Birmingham, Alabama, 1st Resource Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, or worship in the Alabama counties of Jefferson or Montgomery, eligible to join.

Joining 1st Resource and/or opening a Share Certificate or Share Certificate Special must be done in-person at either of the two Alabama branches located in Birmingham and Montgomery.

New Share Savings Accounts must have a minimum initial deposit of $5.00.

Credit Union Overview

1st Resource Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 10.01% (excellent) based on September 30, 2019 data. In the past year, 1st Resource has increased its total non-brokered deposits by $210k, an above average annual growth rate of 0.66%. Please refer to our financial overview of 1st Resource Credit Union (NCUA Charter # 64232) for more details.

1st Resource Credit Union celebrated its 80the anniversary last month. Originally known as the Alagasco Credit Union, the FOM was exclusive to the employees of Alabama Gas Corporation, which was the largest natural gas utility in north and central Alabama. The credit union adopted the “Energen” name in 1985 when Alabama Gas Corporation was renamed as Energen Corporation. The FOM expanded in 2015 as Energen began to liquidate its holdings, with the 1st Resource rebrand occurring shortly thereafter.

I first wrote about this credit union in 2006 when it was named Energen Credit Union. Like today, the credit union was offering very competitive rates on Share Certificates with the same add-on feature and 2-month early withdrawal penalty. The credit union has grown, but it’s still small. Total assets have increased from $14.8 million in 2006 to $38.2 million today.

How the Share Certificate Special Compares

When compared to 192 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, 1st Resource Credit Union's 15-month Share Certificate Special APY currently ranks first.

How the Share Certificates Compare

When compared to 253 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, 1st Resource Credit Union's 24-month Share Certificate APY currently ranks first.

When compared to 252 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, 1st Resource Credit Union's 36-month Share Certificate APY currently ranks first.

The above rates are accurate as of 2/19/2020.

Looking for the best CD rates, either nationwide or state-specific? Please refer to our CD Rates Table page.

Related Pages: Birmingham CD rates, 1-year CD rates, 5-year CD rates

6.43% 36-Month / 6.16% 14-Month CD at an Alabama CU (Energon)
Energen Credit Union is offering a 6.43% APY 36-month and a 6.16% APY 14-month share certificate. The 14-month requires new money. Engergen has some nice CD features. They allow additional deposits into the CDs. The early withdrawal penalty is only 2 months of interest for terms of greater than 12 months.

Unfortunately, the field of membership is limited to a few Select Employer Groups (Energen/Energen Resources/Alagasco Corporation). Family are also eligible, and the they do have a broad definition of family that includes cousins, uncles, aunts, nieces and nephews.

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