Alabama Telco Credit Union began operations in December of 1934 with seven charter members and a capital base of $70. Formed to serve the Southern Bell employees and their families, our founding principles were to assist members in maintaining good credit and offering them a systematic plan of saving.
Steady progress characterized our years until World War II began, when savings deposits began to grow dramatically. That first $70 had turned into $396,000 by 1945. By 1955, our assets had reached $2.35 million, with well over 5,000 members.
This remarkable growth continued with computerization in the 1970s and a field of membership expansion in the 1980s to include groups outside of the Bell Telephone System. At our 50-year anniversary in 1984, we were serving over 15,000 members with assets topping $46 million.
Today we have many accomplishments of which we can be proud. Alabama Telco currently provides financial service to approximately 60,000 members through ever-increasing delivery points, including Alabama Telco branches throughout Alabama, a shared network of branches and ATMs across the United States, telephone, mobile banking and internet access.