Deposit growth and new loans have helped Alabama Telco Credit Union start the first half of 2013 on strong footing.
Birmingham credit union adds more than $9.9 million in deposits and $9.6 million in business loans since March 2012.
The cooperative in Birmingham, Ala., said it closed last year with $527 million in deposits, $341 million in loan volume and assets in excess of $591 million.
Last week, credit unions’ federal tax exemption appeared to be in jeopardy. H.R. 6474 would have gradually repealed credit unions’ tax-exempt status over five years. Fortunately for credit unions, a spokesman for Rep. Dennis Ross, the bill’s sponsor, explained that the inclusion of this in the bill was accidental,...
After losing his wife, Glenn Sasser created a thriving new business with the help of his local credit union, and none from the banks.
While credit unions seem to have dodged this lob for now, it did draw attention to the credit union tax exemption, which the banking lobby is sure to relish.
Local businesses will have another financial resource to consider thanks to a new business services program launched by Alabama Telco Credit Union.
Some programming savvy and a slick piece of software are helping the IT staff at Alabama Telco Credit Union make its Topaz signature pads do more than just record signatures at the teller line, its chief technologist says.