News, events, and useful financial information from APCO Employees Credit Union.

Archive for category: Blog


Your Credit Union’s member services team spent the morning today teaching Birmingham-area teenagers the importance of financial responsibility.

The team spoke at today’s Youth Leadership Conference at Alabama Power Headquarters in downtown Birmingham. The team talked to the high school students about the importance of good credit, how to establish credit, the differences between credit unions and banks, and how loans work.

We appreciate the invitation from Alabama Power and the Alabama Power Service Organization to speak at today’s event. If you have any questions about financial responsibility, please contact us.

Lunch and Learn at APCO Employees Credit Union, Oct. 28, 2015

Lunch and Learn at APCO Employees Credit Union, Oct. 28, 2015

Members concerned about their investment strategy visited your Credit Union Wednesday for a “Lunch and Learn” on conservative investing ideas.

The seminar, presented by APCO Employees Credit Union, featured Mike Lewallen, financial advisor for APCO Investment Services. Mike answered questions about conservative investing and explained how this type of investing helps you face today’s financial risks.

Mike also explained the difference between CD’s and annuities, the different types and advantages of annuities, and how to decide which conservative investment is right for you.

If you want to learn more about investing options for you, contact Mike Lewallen at

101 Huntley Parkway

101 Huntley Parkway

Great news for APCO members living or working in and around the Pelham and Shelby County areas. Your Credit Union branch has moved!

We didn’t move far: the Pelham branch has moved to 101 Huntley Parkway, which is where Cadence Bank used to be located on the corner of Highway 52 and Huntley Parkway. That’s about 100 yards away from its previous location in the Publix shopping center.

Operations in the new branch office begin Monday, Oct. 19, 2015. Our phone number (205-664-7421) remains the same.

A Grand Opening celebration will be held Friday, Nov. 13, 2015. Watch or your inbox for more information.

Thanks for being a member!

Derrick Ragland (l) and Danna Horne present a $23,000 check to Children's of Alabama (photo source Dennis Washington / APCO Employees Credit Union)

Derrick Ragland (l) and Danna Horne present a $23,000 check to Children’s of Alabama (photo source Dennis Washington / APCO Employees Credit Union)

Your Credit Union is thrilled to announce more than $23,000 was raised this year for Children’s of Alabama.

The amount was announced earlier today by Derrick Ragland, COO of APCO Employees Credit Union, prior to the start of today’s charity golf tournament at Grayson Valley Country Club in Birmingham.

The tournament, now in it’s 11th year, is part of a national “Credit Unions for Kids” effort to support the Children’s Miracle Network and its 170 hospitals around the country.

APCO Employees Credit Union has supported efforts by Credit Unions for Kids for 20 years.

Pictures from today’s golf tournament can be viewed on our Facebook page. We appreciate everyone who supported today’s event!


Join us for Return to Conservative Investing, our fall educational series installment. Financial advisors will be available to discuss your questions about conservative investing and explain what to expect, including:

  • How can conservative investments help you face today’s economic risks?
  • What are the differences between CDs and annuities?
  • What are the different types and advantages of annuities?
  • How do you decide which conservative investment is right for you?

Seating is VERY limited, so click the link below to sign up and reserve your spot.

Tuesday, October 20, 2015
5:30 p.m. – 6:30 p.m.
Tuscaloosa branch
Dinner will be served
Click here to Register

Wednesday, October 28, 2015
11:30 a.m. – 12:30 p.m.
Main Office
Lunch will be served
Click here to Register

Holiday Notice – All Credit Union Offices will be closed Wednesday, November 11 for Veterans Day. All offices will also be closed November 26 & 27 for Thanksgiving, December 24 & 25 for Christmas, and January 1 for New Year’s Day.

Your Credit Union will begin reissuing debit and credit cards with the new EMV chip to our members starting later this year and into 2016. The new “chip” cards will be more secure to help us better safeguard your personal information. More information on the new cards will be coming soon, so stay tuned!

In October, all Christmas Club funds will automatically be despited into your Share Account. If you prefer that a check be sent, please call our Call Center at 205-226-6800 and let them know.

Daylight Saving Time ends Sunday November 1. Be sure to set your clocks back one hour.

Return to Conservative Investing, our fall educational series installment, will be presented October 20 from 5:30 – 6:30 at our Tuscaloosa branch and October 28 from 11:30 – 12:30 at our Main Office. Dinner and lunch will be served, respectively. Space is limited to sign up early at or

Your APCO debit card is limited to $5000 per day on purchases and $1000 per day on cash advances. Your APCO VISA credit card is limited to $10,000 per day on purchases and $5000 per day on cash advances.

APCO EMPLOYEES CREDIT UNION is committed to meeting all your financial needs. To do so, we are sometimes required to share information about you with others in order to complete your transactions or to provide certain financial opportunities. To protect your privacy, we have always limited the use of information we provide and only shared information with companies that agree to maintain your privacy. These companies are also prohibited from sharing your information we give them with other third parties.

Your financial privacy and confidence have always been and will always remain very important to every employee of APCO EMPLOYEES CREDIT UNION. As required by law, this notice explains how we collect, use and safeguard your personal financial information. If after reading this notice you have questions, please contact us.

APCO EMPLOYEES CREDIT UNION collects non-public, personal information about you from the following sources.

  • Information we receive from you on applications or other forms;
  • Information about your transactions with us or others; and
  • Information we receive from a consumer reporting agency.

We may disclose all of the information that we collect, as described above, to companies that perform marketing services on our behalf or to other financial institution with who we have joint marketing agreements. We may also disclose information about you under other circumstances, as permitted or required by law.

If you decided to terminate your membership or become an inactive member, we will adhere to the privacy policies and practices as described in this notice.

APCO EMPLOYEES CREDIT UNION restricts access to your personal and account information to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.

Many people lack the knowledge about their credit scores, arguably the single most influential number in their lives. In fact, forty nine percent of 1000 consumers polled do not understand that credit scores measure credit risk, according to a recent survey by Fair Isaac Corporation, the company that credited the most widely used formula called FICO.

Hear are the five categories that make up a FICO credit score and how they are weighted.

1) Payment History: 35%

This category includes payment history information about several types of accounts such as credit cards, retail accounts and installment loans. Many factors are considered including number of past due items on file, amount of past due items on file, amount past due on collection items, and severity of delinquency (how long past due.) Close by is a chart depicting the weight assigned to each year of an individual’s payment history.

2) Capacity (Amount You Owe): 30%

The FICO scoring model weighs capacity heavily because it knows that the majority of Americans who go bankrupt charge up their cards to the limits before they file. The FICO model considers three separate components of an individual’s credit when assigning points:

1) Installment balances compared to the original loan amounts.
2) Revolving account balance compared to an individual’s revolving credit limit; and
3) Total revolving account balances compared to an individual’s total revolving limits

It is in your best interest to keep balances low on all revolving credit and pay off debt with open accounts instead of closing accounts and consolidating it into one or two accounts with higher balances.

3) Length of Credit History: 15%

Even if you no longer want an older account, you should think twice before closing it. Lenders are looking for borrowers with long credit histories. Also, those with new credit should be cautious about opening too many accounts. Account buildup may look risky.

Hard inquiries, or request from creditors for a copy of a report, are tracked on the credit report for 24 months. But, only the inquiries from the most recent 12 months are included in the FICO score calculation.

4) Types of Credit: 10%

This category looks at the overall mix of credit such as credit cards, mortgages, or consumer finance accounts. You should try to balance the mix but are advised not to open new credit accounts for balancing purposes unless necessary. It is unlikely that adding accounts will improve your credit score.

5) New Credit: 10%

Approximately 10% of your credit score is based on how many recent new accounts you have established. This factor reviews:

1) Number of accounts
2) Length of accounts
3) Recent requests for credit report
4) Length of time since credit inquiries

(photo source Birmingham Business Journal / Bob Farley /

(photo source Birmingham Business Journal / Bob Farley /

Merrill Mann, President/CEO of APCO Employees Credit Union, has announced his retirement at the end of 2015. Mr. Mann has helped lead the Credit Union for more than 30 years. In addition to his duties at the Credit Union, Merrill has also been actively involved in the credit union movement serving on the Boards of Directors at Corporate America CU, the Alabama Credit Union League, and the Birmingham Chapter of Credit Unions. Merrill was also named to Who’s Who in America’s Credit Unions in 2010.

The Credit Union wishes to thank Mr. Mann for his service and leadership and we wish him the best in his retirement. The Credit Union’s Board will be announcing his replacement in October and the new President/CEO’s duties will begin on January 1, 2016.

In case you haven’t noticed, your Credit Union’s website ( has a wealth of up to date information right at your fingertips. In addition to current rates, financial information, and our what’s happening page, the site has a live section with the latest news, weather and stock information. The stock market section features the latest quotes on the Dow Jones Industrials, the NASDAQ, and the S&P 500.

Rather than having to search multiple sites, our site combines what you need to know, when you need to know it. Stay connected and add some convenience to your life by making the Credit Union’s website one of your favorites.