Apco Employees Credit Union

Overview / Commentary
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 117th largest credit union in the nation. It was established in 1953 and as of September of 2022, it had grown to 121 employees and 73,138 members at 20 locations. Apco Employees Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership in Apco Employees Credit Union is open to employees and retirees of Alabama Power Company, Southern Nuclear, Southern Company Services, or other affiliated companies of the Southern Company.
See current membership details

Reviews (3)

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.

1.26% Savings Rate (Share Account)

Posted by: |

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.

APCO Credit Union Review

Posted by: |

I have personally held accounts with APCO credit union for 15 years and have had great experiences through them. Service is always really fast at the counter and drive-thru. They do not engage in friendly chit-chat that usually holds up lines for an unnecessary amount of time. This is not to say they are rude or unfriendly. They are nice and ask how things have been while they are processing your account but will not inconvenience the others in line by dragging conversations out like I have experienced at other institutions. This bank is one of the few left that still has an interest drawing checking account. It's a nice touch, but interest rates are very small right now (not a fault of the institution) and some interest is a lot better than none. The big drawback to APCO is the online banking. You can forget it if you want to bank by phone and the online (desktop) version isn't much better. The interface doesn't make much sense at all and the descriptions of transactions are not very good nor are the timely about posting said transactions. It really does feel like using an interface from 1998. Overall, I have had good experiences with this organization over the years and, while the technology is lacking for online, they are a good institution to do business with.


Health Grade Components

NCUA #62728
Year Chartered1953
Primary Regulator
Profit Margin
Return on Assets - YTD0.72%
Return on Equity - YTD19.22%
Annual Interest Income$58.1MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$3.51B$3.66B
LoansQ3 2022vs Q3 2021$793.9MM$757.4MM
DepositsQ3 2022vs Q3 2021$3.35B$3.24B
Equity CapitalQ3 2022vs Q3 2021$133.6MM$395.2MM
Loan Loss AllowanceQ3 2022vs Q3 2021$1.3MM$1.7MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$2.1MM$2.3MM
Real Estate OwnedQ3 2022vs Q3 2021$0$0

Rates for Apco Employees Credit Union are currently being reviewed.



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