Avadian Credit Union is headquartered in Hoover and is the 8th largest credit union in the state of Alabama. It is also the 373rd largest credit union in the nation. It was established in 1934 and as of December of 2019, it had grown to 231 employees and 83,592 members at 18 locations. Avadian Credit Union's money market rates are 4X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Avadian Credit Union is open to those who live, work, attend school or worship in Autauga, Baldwin, Blount, Calhoun, Cherokee, Coffee, Colbert, Cullman, Dallas, DeKalb, Elmore, Etowah, Geneva, Houston, Jackson, Jefferson, Lauderdale, Lawrence, Lee, Limestone, Madison, Marion, Marshall, Mobile, Montgomery, Morgan, Pike, Randolph, Shelby, St. Clair, Talladega, Tuscaloosa, Walker or Winston Counties in Alabama. Membership is also open to employees of Charter Communications, Gulf Telephone Company, and over 200 statewide Select Employer Groups.
See current membership details
Greate Except For Holding Funds
Typical credit union for the most part. Friendly service in the one Madison County location.
My only complaint is that check deposits have a 2-day hold for amounts over $200. I also had a $15,000 check subject to a 7-day hold. (Not sure what the threshold is for the longer holding). Direct deposits and paychecks are not subject to holding.
I understand a need for this at some level, but I've had the account for more than a year with dozens of paper check deposits and not a single one has bounced. The tellers keep telling me that the holding will eventually stop but they can't tell me when.
Montgomery Location Is Inconvenient
I have been banking with Alabama Telco for years, originally opening my account in Trussville, north of Birmingham. I was pleased with my service in the Trussville location. They had a sign in the drive-through requesting customers to have their deposits ready when using drive-through services. Since moving to Montgomery, I have had to use the Atlanta Highway location. It is inconveniently located, and the drive-through takes forever. Customers sit in their car and fill out their deposit slips while at the window, and there is usually only one window open. Needless to say, I wish I could take my business elsewhere, but let's face it all the larger banks are unfriendly (I have done business with Regions and Compass). The drive-through is definitely not an express service.
Take Fee's For No Reason
My account had an available balance and they charged me an overdraft fee. This caused for other transactions to cause more overdraft fees. I have been going to the branch and calling for TWO days. I finally was able to talk to someone and they didn't refund me the fee's AND the branch manager Melissa Bruner was VERY rude and not understanding. Worse experience I have ever had with a bank/credit union.
71 Point Drop In My Credit Because Avadian Lack Of Due Diligence
Terrible service credit union. We jointly open a saving account when my son was 13 years old. He is now a student at Auburn, 21 years old. He choose to open a new account near Auburn because he wanted greater accessibility to his money. In short, there was an over draft on his Avadian account of $17.00. Avadian choose to try to collect via mail. With his work schedule at school he ignored his mail from Avadian because he thought they where bank statements and he never used this account anymore. My wife and I are jointly on this account. Rather then trying resolve the balance by contacting either my wife or myself, Avadian choose to write off the account. I want to reiterate that we had no idea that there was balance and we where never notified of the balance. In turn, a delinquency was register on all 3 credit reporters. As a result my credit ratings dropped 71 points. Avadian turned a deaf ear and was not willing to work with me to clear this off my credit report. Note: My son paid the balance and closed the account. Avadian admitted that they was never tried to contact either my wife or myself to resolve this issue, yet they choice to penalize my wife and myself through the credit bureaus. I am considering a class action suit and am surveying how many other patrons have had this same issue with Avadian? Does anyone know an attorney that specializes in this type of manner?
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68583 |
| Year Chartered | 1934 |
| Employees | 231 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.71% |
| Return on Equity - YTD | 7.2% |
| Annual Interest Income | $32.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $867.9MM$787.6MM |
| Loans | Q4 2019vs Q4 2018 | $595.2MM$569.0MM |
| Deposits | Q4 2019vs Q4 2018 | $775.7MM$702.8MM |
| Equity Capital | Q4 2019vs Q4 2018 | $84.2MM$80.6MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $3.0MM$3.4MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $1.5MM$3.4MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $1.7MM$210.00K |
