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Secure First  Credit Union is a member owned non-profit cooperative financial institution regulated by the National Credit Union Administration (NCUA), a United States government agency. The cooperative nature is what distinguishes credit unions from other financial service providers, as this definition provided by the University of Wisconsin’s Center for Cooperatives illustrates:

“A cooperative is a business voluntarily owned and controlled by its member patrons, and operated for them and by them on a non-profit or cost basis. The people who use it own it. It is organized and incorporated to engage in economic activities with certain ideals of democracy, social consciousness, and human relations. A cooperative provides services and benefits for its members in proportion to the use they make of their organization rather than earning profits for the shareholders as investors.”

Our services and benefits are available exclusively to qualified individuals and organizations. “Qualified” is defined as: (1) anyone who lives, works, worships, or attends school within Jefferson and Tuscaloosa, Blount, Shelby and Walker counties; (2) immediate relatives of existing members are also eligible for membership. Immediate relatives include parents, children, siblings, grandparents, step parents, step children, adoptive parents and adoptive children. Relatives of those members who were eligible through their employer are still eligible, regardless of residency.  ; and (3) any member group (business or association) that originated their membership prior to the community charter. Another qualifying requirement is to deposit and maintain at least one share, or par value, of $5.00 in a savings account. Membership in Secure First Credit Union is valid forever, even if employment or residence changes occur.

A seven member Board of Directors determines Secure First Credit Union’s policies and philosophies. These non-compensated volunteers are elected to three-year terms by their peers—the credit union’s members at large. The Board meets at least monthly to evaluate the condition and direction of the organization, to determine rates and terms of those products and services offered, and to develop strategies and programs for the benefit of the institution and its membership. It is responsible for appointing volunteer members of other administrative bodies, most notably the Supervisory and Nominating Committees, and for hiring management staff.

Member accounts are federally insured by the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF is historically the strongest and most stable insurer of deposits in the country.