Florence Federal Credit Union is headquartered in Florence and is the 38th largest credit union in the state of Alabama. It is also the 2,266th largest credit union in the nation. It was established in 1959 and as of June of 2019, it had grown to 13 employees and 3,508 members at 3 locations. Florence Federal Credit Union's CD rates are 94% higher than the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Florence Federal Credit Union is open to those who live, work, worship, or attend school in Colbert or Lauderdale Counties in Alabama, as well as businesses and other legal entities in the same counties.
See current membership details
Florence Federal Credit Union
After my divorce left my credit in a horrible mess, and I was forced to closed a bank account that I had used for over 25 years, Florence Federal Credit Union took a chance on allowing me to open a checking/savings account with their institution. That was in 2013, and I am still member. There is only a $5 monthly fee, no minimum balance in checking and only a $25 minimum in savings. I also have overdraft protection up to $500. The ONLY negative I have to say is that there are only two locations. However, since I do most of my banking online, this has rarely been an issue.
Data as of Q2 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 13167 |
| Year Chartered | 1959 |
| Employees | 13 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.76% |
| Return on Equity - YTD | 6.12% |
| Annual Interest Income | $928.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $53.9MM$53.0MM |
| Loans | Q2 2019vs Q2 2018 | $18.6MM$17.0MM |
| Deposits | Q2 2019vs Q2 2018 | $46.6MM$46.4MM |
| Equity Capital | Q2 2019vs Q2 2018 | $6.7MM$6.1MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $90.00K$82.00K |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $34.00K$64.00K |
| Real Estate Owned | Q2 2019vs Q2 2018 | $1,000$0 |
Always verify rates and promotions with the bank or credit union. We are not Florence Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
Florence Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.30% | $200 | - | Regular Share Savings Account | |
| 0.30% | $200 | - | Vacation Club Account | |
| 0.25% | $200 | - | Christmas Club Account |
Florence Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.35% | $2.5k | - | Money Market Account |
Florence Federal Credit Union CD Rates
Florence Federal Credit Union IRA Rates
| Florence Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 501 E Tennessee St | Florence, AL 35630-5719 |
| Branch Office | 1505 N Pine St | Florence, AL 35630-2285 |
| Branch Office | 303 E Dr Hicks Blvd | Florence, AL 35630-5769 |