About Coosa Pines FCU
- The field of membership for Coosa Pines Federal Credit Union includes 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
- And 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.
Credit Unions are not-for-profit financial cooperatives owned by their members. They focus on lowering loan rates, increasing savings interest, and minimizing fees. They are democratically controlled by a volunteer Board of Directors elected by members, with each member having one vote regardless of their deposit amount.
In contrast, for-profit financial institutions are owned by stockholders and prioritize profits, often resulting in higher costs for customers. Only stockholders who are compensated for their roles and may not be community members can vote for the Board.
Your deposits are federally insured by NCUA to $250,000 or more, depending on how your accounts are structured. Coosa Pines FCU accounts are insured for up to an additional $250,000 by Excess Share Insurance, Inc., a division of American Share Insurance. As with NCUA coverage, ESI coverage may be more than $250,000, depending on the type and structure of the credit union accounts.
Deposits with Coosa Pines FCU are backed by the National Credit Union Share Insurance Fund (NCUSIF), a fund maintained by the U.S. Treasury and administered by the National Credit Union Administration (NCUA). Federal insurance protects deposits in Savings, Checking, Money Market Shares, Certificates, and certain retirement accounts.
Along with federal deposit insurance, Coosa Pines FCU accounts are insured up to an additional $250,000 by Excess Share Insurance, Inc. (ESI), a division of American Share Insurance, the nation’s largest provider of private share insurance for credit unions since 1974.
Your deposits are federally insured for up to $250,000 through NCUA and privately insured for an additional $250,000 through ESI. Depending on how your accounts are structured, you may be insured for more.
- For example, a member's individual accounts are insured up to $250,000 by NCUA and $250,000 through ESI.
- His joint accounts are insured separately for another $500,000.
- The other owners of those joint accounts are also insured up to $500,000 each.
- IRAs are insured separately from other accounts, up to another $500,000 per member.
Please consult a credit union representative for guidance on structuring your accounts for maximum coverage.
Joining the credit union requires a minimum opening deposit of $5.00 to a Share Savings account. You may join online or at any Coosa Pines Federal Credit Union location.
Once you are a Coosa Pines Federal Credit Union member, you have a lifetime membership, even if you change jobs or move. To close your membership, withdraw the $5.00 share balance from your Savings account.
Joining the credit union requires a minimum opening deposit of $5.00 in a Share Savings account. With that deposit, you become a share owner in Coosa Pines Federal Credit Union and are eligible for all the benefits that membership entails.
You can reach us using a few different methods. Visit our Contact Us page for complete information.
In observance of the 2025 holidays, Coosa Pines will be closed on the following dates.
| Date | Holiday |
|---|---|
| January 1 | New Year's Day |
| January 20 | Martin Luther King Day |
| February 17 | Presidents' Day |
| May 26 | Memorial Day |
| July 4 | Independence Day |
| September 1 | Labor Day |
| October 13 | Columbus Day |
| November 11 | Veterans' Day |
| November 27 | Thanksgiving |
| December 25 | Christmas Day |
Coosa Pines FCU maintains branches in Childersburg (branch and corporate office), Sylacauga, Chelsea, Pell City, and Vincent, Alabama. Visit our Locations page for complete information.
The credit union’s routing number is 262287551.
As of January 1, 2012, paper savings bonds are no longer sold at financial institutions. This action supports the Treasury's goal of increasing the number of electronic transactions between citizens and businesses. Click here for details about electronically purchasing savings bonds: http://www.treasurydirect.gov/indiv/planning/plan_gifts.htm.
Coosa Pines FCU does not cash savings bonds; however, larger banks often do so for the public. You can find information and a guide on TreasuryDirect.gov here: http://www.treasurydirect.gov/instit/savbond/guide/guide_cash.htm.
No, Coosa Pines FCU does not exchange foreign currency.
Yes, Coosa Pines FCU offers members free Notary and Medallion Guarantee services. Visit Other Services for more information.
Safe deposit boxes of multiple sizes are located at all Coosa Pines FCU branches but may not be available at your nearest branch. Click here for more information, including fees.
Account Questions
The most secure way to update your contact information is through Online Banking. Click on Settings, then Profile. From there, you may update your mailing address, email, and phone number, as well as your user ID and password. You may contact a credit union representative to make the change if you prefer.
If your employer offers direct deposit, give them the routing number, 262287551, and your account number. Ask them to specify Savings or Checking.
Yes. It is so simple to open your Coosa Pines FCU account online! Click Join Now and follow the instructions on the page. One of our friendly staff will contact you to arrange your $5.00 deposit. From there, you can take advantage of all the excellent services that Coosa Pines Federal Credit Union offers. We hope to see you soon!
The credit union offers business savings and checking accounts. Businesses may take advantage of all services provided by Coosa Pines FCU.
Certificates of Deposit Questions
We do offer certificates of deposit or Share Certificates. The minimum balance for opening a Share Certificate is $500, regardless of the term.
Interest rates on Certificates of Deposit vary and are based on the term of the certificate. Savings rates.
Loan and Credit Questions
Yes. In Online Banking, click on Transfers and select the appropriate accounts before reviewing and submitting the payment. In the mobile app, click on Transfer & Pay to complete the transaction.
You do not have to be a member to apply for a Coosa Pines FCU loan. Your membership can be opened when the loan is completed.
Alabama’s minimum age for entering a contract, including a loan, is 19 years or 18 and married. Coosa Pines FCU does not accept loan applications for persons under this age.
No. All applicants must be 19 or older or be 18 and have proof of marriage.
Coosa Pines FCU loan payments may be made through Online Banking, with Express Line automated telephone banking, using the Pay It link, in person or by phone at CPFCU locations, or using the MessagePay service.
You can verify your mortgage loan officer’s information on the NMLS Consumer Access website’s registry.
Coosa Pines FCU’s NMLS ID# is 464059.
Coosa Pines FCU offers mortgages with terms of up to 30 years.
Coosa Pines offers several mortgages with fixed rates, including 7-year, 15-year, and when available, 20-year terms. The credit union’s land loan rates are also fixed for up to 12 years.
Yes, Coosa Pines FCU refinances mortgages from other lenders quite often. Our loan officers make the process a breeze. You can also easily apply online by clicking Apply for a Mortgage under the Loans heading.
A personal loan is an unsecured loan where no collateral is offered as security.
No. Coosa Pines Federal Credit Union offers personal loans and lines of credit at fixed rates.
Existing members may apply for a CPFCU credit union loan through our apps, online, by phone, or in person at any credit union location. All others may apply online, by phone, or in person.
Yes, Coosa Pines Federal Credit Union offers a range of popular mortgage loan options. Click here to find out more.
The credit union does offer business loans, including mortgages, auto loans, miscellaneous secured loans, and lines of credit. For more information or to apply, call a CPFCU loan officer at (256) 378-5559 or 800-237-9789, option 5.
MessagePay
Yes, you will have to access the payment portal through our website or online and mobile banking. However, you will not receive any text notifications regarding payment reminders and will not be able to make a payment via text message.
When you receive a text reminder, respond “Pay” to the text. You will be asked to verify your account, set a 4-digit PIN, and choose a preferred payment method. Once you have completed this process, you will be sent to the payment portal to choose the loan and payment method. When finished you should receive a confirmation text.
Student Loan Questions
Private student loans are provided by private lenders - banks, credit unions, and online lenders.
You can use private loans to pay for education costs and living expenses, which your federal education loans might not cover. Interest rates and terms on private student loans can vary depending on your financial situation, credit history, and the lender you choose.
You can use private student loans to pay for education costs and living expenses which your federal student loans might not cover. Some uses include:
- Tuition and fees
- Room and board
- Housing and utilities
- Meals and groceries
- Books
- Supplies
- A personal computer you'll use for school
- Dependent childcare expenses
There are several types of student loans:
- The U.S. Department of Education offers federal student loans with interest rates set by Congress. These loans also provide benefits and protections that private student loans do not, such as access to federal deferment and forbearance options, income-driven payment programs, and student loan forgiveness programs.
- Undergraduate student loans include federal and private student loans used to pay for your undergraduate studies.
- Parent PLUS loans are available to parents who want to help their child pay for school. Unlike other federal student loans, PLUS loans require a credit check. You might not qualify if you have an adverse credit history, such as a default, delinquent account, or repossession. Keep in mind that some private lenders offer parent student loans, too - though these don't come with the federal protections that PLUS loans offer.
- Graduate student loans can help you pay for grad school. Direct Unsubsidized Loans and Grad PLUS Loans are two types of federal student loans that can be used for graduate programs. Several private lenders offer graduate student loans.
- MBA Student loans can help you finance a business degree. While you might be able to use a general graduate student loan to pay for these costs, some private lenders offer specialized MBA loans.
- Law school student loans can be used to pay for a law degree. You can take out general graduate student loans for this or borrow specialized law school loans from certain private lenders.
- Medical student loans can help you cover expenses while attending med school. Some medical school loans also sometimes let you defer payments until after residency.
Student loan interest works by adding a percentage of the loan amount to your outstanding balance over time. This interest rate represents the cost of borrowing money. When you make monthly payments, a portion of the payment is allocated towards covering the accrued interest, while the remaining amount goes towards reducing the principal balance (the original loan amount). Choosing a lower interest rate can help you save money over the life of the loan and accelerate the process of paying off your debt.
Before you borrow, you must decide whether you want a fixed- or variable-rate student loan. Here's the difference between the two:
- A fixed rate will stay the same over the course of your loan term. This also means your payments won't ever change.
- A variable rate can fluctuate and possibly increase over time, so your payments might rise or fall.
While private student loans can be a helpful option in some cases, they come with drawbacks to keep in mind, including:
- No federal benefits: Private student loans don't include federal benefits and protections. For example, you won't be eligible for federal student loan forgiveness programs or federal deferment and forbearance options.
- Lack of repayment options: Unlike federal student loans, private student loans don't provide various repayment options. For example, private student loans don't typically offer income-driven or graduated repayment plans.
- Potentially higher interest rates: If you have excellent credit, you might get approved for a lower interest rate on a private student loan than a federal loan. However, many college students haven't established enough credit history to qualify for these rates - so unless you get a cosigner, you'll likely get a higher rate on a private student loan.
With a private student loan, you can borrow up to 100% of what your school says it costs to enroll and attend classes (the "cost of attendance") minus other financial aid and loans you've already received.
How much you borrow will vary by lender and can include annual or cumulative borrowing limits. Other private lender criteria that affect how much you can borrow might include your credit history, the credit quality of your cosigner, your school's certified cost of attendance, the degree you're earning, and more.
Receiving the funds from your private student loan depends on whether you're borrowing an in-school loan or refinancing an existing loan.
The funds are typically sent straight to your school for in-school private student loans to cover tuition. The school then gives the rest of your money directly to you, the student, for other expenses related to getting your degree, such as housing.
Your school sets the disbursement date (when you actually receive the money), usually around the beginning of the semester. Your school's disbursement date will be the same regardless of when you applied for the loan. However, applying early is best to avoid any confusion or delays.
We suggest you give yourself at least 30 days to be safe, but contact your financial aid office to learn more about accessing your funds.
For student loan refinancing, no new funds are disbursed. Instead, your new private lender pays off your existing loan(s) and gives you a new loan with new terms. This generally happens within a few days, but always check with your lender(s).
You can apply for private student loans anytime since there is no deadline tied to them (like filling out the FAFSA for federal loans). But it's still a good idea to apply for private loans as soon as you know you'll need them for education costs.
Although it varies depending on the lender and your school, receiving the funds can sometimes take three to five weeks. So, if you're trying to decide when to apply for a private student loan, give yourself some time and apply sooner rather than later.
Each lender has different requirements for qualifying for a private student loan. But typically, you must:
- Have a qualifying credit score (or a cosigner with one)
- Have a qualifying income and debt-to-income ratio (DTI) (or a cosigner with one)
- Be enrolled in an eligible education program
- Be a U.S. citizen or legal resident with a Social Security number
- Be at least 18 years old and hold a high school diploma or equivalent (or have a cosigner)
- Use the loan for education purposes only
You can get a student loan with bad credit, but not necessarily on your own. While federal loans don't require a credit check, private student loans do. Many students don't qualify for private student loans on their own because they don't have a credit history or bad credit. If that's your situation, you may need to add a cosigner to qualify for a private loan.
Private student loans require a credit application that examines income, employment, and a credit report. The lower your credit score, the higher the lender's risk, which translates into higher interest rates. One way to get approved for a loan with a lower rate is to add a creditworthy cosigner to your loan application.
It depends, but in most cases, yes. You don't have to have a cosigner unless you're under the age of majority in your state (19 or 18 and married in Alabama). However, if you have a limited or poor credit history, lenders may require you to add a creditworthy cosigner to reduce the risk on the loan.
Plus, more than 90% of private student loans taken out by undergraduate students are cosigned. Even if you're a graduate student and don't need one, adding a cosigner with good credit can improve your chances of qualifying for a private student loan at a lower rate.
Our marketplace even makes it easy to compare cosigners to see which cosigner can help get you the best rate.
Tired of seeing rate ranges and not knowing where you fall in the range? The Coosa Pines Federal Credit Union marketplace allows you to compare real, pre-qualified student loan rates through a single form. Think of it as Expedia or Google Flights of student loans.
With our marketplace, you can compare repayment plans from multiple lenders side by side so you know precisely how each loan compares in terms of APR, monthly repayment, total repayment amount, and repayment options.