Why Coosa Pines?
We could say it's our low loan rates or free services, and that's certainly true. But most members take pride in belonging because of who we are together.
CPFCU was chartered by blue-collar workers who sought to pool their money for better returns and to help friends in times of need. We know the value of hard work and responsibility, of reliability and honesty. We understand that every dollar our members earn is hard won, and we are called to be good custodians of those funds.
Service to others is more than a priority; it is a cornerstone on which we were built. That is why CPFCU donates a great deal of time and funds each year to schools, civic groups, and organizations with boots on the ground in the neighborhoods we serve.
Membership Eligibility
The field of membership shall be limited to those having the following common bond:
- Persons who live, work, worship, or attend school in and businesses and other legal entities located within Clay, Coosa, Jefferson, Shelby, St. Clair, and Talladega Counties, Alabama
- Spouses of persons who died while within the field of membership of this credit union
- Employees of this credit union
- Immediate family members and members of the household of existing credit union members, regardless of residency
- Organizations of such persons
"Member of the immediate family or household" is defined as spouse, child, sibling, parent, grandparent, or grandchild. For this definition, immediate family members include stepparents, stepchildren, stepsiblings, and adoptive relationships.
"Household" is defined as persons living in the same residence and maintaining a single economic unit.
Joining the credit union requires a minimum opening deposit of $5.00 to a share/savings account. Once you are a Coosa Pines Federal Credit Union member, you have a lifetime membership, even if you change jobs or move.
Have you found that you're not eligible to join Coosa Pines FCU? We'll help you find another credit union!
Not eligible to join Coosa Pines FCU? Don't worry! Chances are you are eligible to join a credit union near you.
Here are some great resources to assist you in your search:
Visit FindACreditUnion.com, ASmarterChoice.org, or call 1-800-HOWTOJO (INACU) (that's 1-800-469-8656) for assistance in finding your credit union.
Membership for Life
Wherever you're going, you don't have to leave us behind.
Family commitments, job transitions, higher education, even military transfers often make it necessary to relocate to different cities, different states, and at times to different countries. You'll be pleased to know that our motto “membership for life” stands firm.
No matter where you go, you can remain a member of the credit union. So don't leave your credit union relationship behind!
Shared Branching, Smart Device Apps, Online Banking, Mobile Money, and the Express Line telephone service make it convenient to retain your Coosa Pines FCU accounts.
What is a Credit Union?
A Common Bond
The credit union movement began with a simple idea: the average individual can control their own economic destiny. Credit unions are not-for-profit financial institutions created by people who share a common bond, such as an employer or community. Members pool their resources to provide loans and financial services to one another. Any generated earnings are returned to the members through dividends and lower loan rates.
Credit Unions vs. Other Financial Institutions
Credit unions are owned by their members and aim to offer lower costs for financial services. Excess earnings are used to reduce interest rates and fees. In contrast, for-profit financial institutions are owned by stockholders, who benefit from the profits, while customers do not have ownership unless they own stock.
Deposit Insurance
Deposits in credit unions are federally insured. The National Credit Union Administration (NCUA) is the federal agency that charters and supervises federal credit unions. Through the National Credit Union Share Insurance Fund (NCUSIF), the NCUA provides insurance for savings in federal and most state-chartered credit unions in the United States.
The NCUSIF is a federal fund backed by the full faith and credit of the United States government. It currently insures deposits up to $250,000. Members may qualify for more than $250,000 in coverage depending on how accounts are structured. Not one penny of insured savings has ever been lost by a federally insured credit union member.
Additionally, deposits with Coosa Pines FCU are insured up to an extra $250,000 through Excess Share Insurance, Inc., a division of American Share Insurance, the nation's largest provider of private share insurance to credit unions since 1974. Depending on account structuring, members may qualify for coverage exceeding $250,000.