Social Security Credit Union


Overview / Commentary
205-323-7028
1200 Reverend Abraham Woods Jr Blvd
Birmingham, AL 35285

Social Security Credit Union is headquartered in Birmingham and is the 52nd largest credit union in the state of Alabama. It is also the 2,825th largest credit union in the nation. It was established in 1947 and as of December of 2023, it had grown to 3 employees and 2,865 members at 2 locations. Social Security Credit Union's CD rates are 4X the national average, and it has a B health rating.

Field of Membership Restrictions

Social Security Credit Union is open to employees and retirees of the Social Security Administration and other Departments of Health and Human Services offices in Birmingham, Alabama; federal employees in the metro Birmingham area and other Southeastern Program Service Center divisions.
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Health
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Social Security Credit Union has a low asset base.

Health Grade Components

Overall
NCUA #61391
Year Chartered1947
Employees3
Primary Regulator
Profit Margin
Return on Assets - YTD1.33%
Return on Equity - YTD6.29%
Annual Interest Income$1.4MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$34.4MM$35.1MM
LoansQ4 2023vs Q4 2022$13.9MM$14MM
DepositsQ4 2023vs Q4 2022$26.8MM$28.1MM
Equity CapitalQ4 2023vs Q4 2022$7.4MM$6.9MM
Loan Loss AllowanceQ4 2023vs Q4 2022$125K$113K
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$155K$184K
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Social Security Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$100-Club IRA
0.30%$100-Shares
0.30%$100-Christmas Club
0.30%$100-Vacation Club

Social Security Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$10k*-Super Money Market
OTHER TIERS: 0.40% $2.5k - $10k

Social Security Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%$1k-1 Year CD
3.00%$1k-2 Year CD
2.50%$1k-3 Year CD
0.30%$1k-6 Month CD

Social Security Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%$1k-1 Year IRA
3.00%$1k-2 Year IRA
2.50%$1k-3 Year IRA
0.30%$1k-6 Month IRA
Locations


Social Security Credit Union Locations
Branch Office1200 Reverend Abraham Woods Jr BlvdBirmingham, AL 35285
Corporate Office2700 Corporate Dr Ste 200Hoover, AL 35242-2733

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