Alabama ONE Field of Membership
Alabama ONE was chartered in 1951 as the TRW Federal Credit Union. The name was changed to BF Goodrich Employees Federal Credit Union on July 18, 1973, and remained that through many years of growth and prosperity. In early 2001, BF Goodrich Employees Federal Credit Union was granted the status of a Community Credit Union. Membership was subsequently opened to all who live, work, worship or are educated in Tuscaloosa and Pickens Counties. In early 2009, the Credit Union was renamed Alabama ONE Credit Union.
Today, Alabama ONE Credit Union is a full-service financial institution serving all the residents of Tuscaloosa, Pickens, Mobile, Jefferson and 18 other counties, including Fayette, Walker, Bibb, Hale, Greene, Lamar, Washington, Baldwin, Monroe, Escambia, Choctaw, Clarke, Wilcox, Marengo, Sumter, Morgan, Montgomery, and Shelby. It is still a member-owned organization with each member sharing equally in that ownership.
Annual membership meetings are held to give progress reports, elect a board of directors, a supervisory committee, and conduct credit union business. The board of directors appoints committees to oversee the credit union. All board members and committee members are volunteers and receive no compensation for their service.
In 2020, Alabama ONE is proud to welcome Alabama Rural Electric Credit Union, organized in 1969 to serve the 23 Alabama Rural Electric Cooperatives, their employees, and members across Alabama, to our Alabama ONE family. Together, AlabamaONE and ARECU, in both services offered and geographic presence, offer an unparalleled field of membership and opportunities to serve communities across Alabama. There is unimaginable potential in the collective financial strength, media penetration, and cooperative commitment of Alabama ONE, ARECU, and the Alabama Rural Electric Association (AREA) of electric cooperatives.
Through our combined financial strength of $840 million in assets and over $76 million in capital, this merger expands our footprint across 57 Alabama counties immediately serving over 70,000 members with the potential to serve over 500,000 households and over 100,000 businesses across Alabama. (As of May 1, 2021).