Avadian Credit Union is headquartered in Hoover and is the 8th largest credit union in the state of Alabama. It is also the 364th largest credit union in the nation. It was established in 1934 and as of September of 2020, it had grown to 244 employees and 85,918 members at 18 locations. Avadian Credit Union 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.
There Are Better Options
Save yourself some money and bank somewhere else. The amount of money they steal from their members under the premise of "fees" is absurd. Customer service is mediocre at best. And their technology (both for members and staff) is years behind other institutions.
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.
Data as of Q3 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68583 |
| Year Chartered | 1934 |
| Employees | 244 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.25% |
| Return on Equity - YTD | 2.77% |
| Annual Interest Income | $24.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2020vs Q3 2019 | $1.01B$839.7MM |
| Loans | Q3 2020vs Q3 2019 | $610.9MM$595.6MM |
| Deposits | Q3 2020vs Q3 2019 | $906.0MM$746.6MM |
| Equity Capital | Q3 2020vs Q3 2019 | $88.7MM$83.9MM |
| Loan Loss Allowance | Q3 2020vs Q3 2019 | $3.8MM$3.0MM |
| Unbacked Noncurrent Loans | Q3 2020vs Q3 2019 | $742.00K$1.0MM |
| Real Estate Owned | Q3 2020vs Q3 2019 | $1.8MM$2.2MM |
