Question 1

What is Alba-Golden Federal Credit Union (Alba-Gold FCU)?

Accepted Answer

Alba-Golden Federal Credit Union (Alba-Gold FCU) is a community-based federal credit union headquartered in Alba, Texas. With approximately $19.5 million in assets and over 1,500 members, this small community credit union specializes in providing personalized financial services to residents of several East Texas communities. Founded to meet local banking needs with quality service, Alba-Gold FCU focuses on traditional credit union products including savings accounts, low-cost loans, and share certificates.

Question 2

When was Alba-Golden Federal Credit Union (Alba-Gold FCU) founded?

Accepted Answer

Alba-Golden Federal Credit Union was founded in 1960 by 54 community members who recognized the need for a local financial institution that could provide quality and personal service for savings accounts and loans. The credit union started with total assets of just $700 and was initially located on the west side of the square in Alba. The first Board of Directors included M.S. Humphreys, Charles Smith, Arlie Farrington, C.F. Hughes, and A. Gilley.

By June 1982, the credit union had grown to 254 members with shares totaling $191,797. In August 1982, the credit union relocated to the newly renovated First State Bank building, which was originally constructed in 1916.

In 1988, the credit union underwent a significant expansion when member Bobbie Barnett spearheaded efforts to obtain a boundary extension from the NCUA. This amendment was approved on October 20, 1988, and adopted on November 8, 1988, allowing the credit union to serve a larger geographic area. In October 2011, the credit union moved again to its current location on the square in Alba, across from City Hall.

Question 3

Where is Alba-Golden Federal Credit Union (Alba-Gold FCU) headquartered?

Accepted Answer

Alba-Golden Federal Credit Union is headquartered at 140 S. Broadway in Alba, Texas. The credit union's office is located on the square in Alba, directly across from City Hall.

Question 4

Where does Alba-Golden Federal Credit Union (Alba-Gold FCU) operate?

Accepted Answer

Alba-Golden Federal Credit Union operates in Wood County, Texas, serving a specific geographic field of membership. To become a member, individuals must live, work, or worship in one of five East Texas communities: Alba, Emory, Golden, Mineola, or Quitman. Additionally, family members and relatives of existing members are eligible to join regardless of where they reside.

The credit union maintains a single office location on the square in Alba, operating Monday through Friday from 8:00 AM to 4:00 PM, with weekend closures.

Question 5

What services does Alba-Golden Federal Credit Union (Alba-Gold FCU) offer?

Accepted Answer

Alba-Golden Federal Credit Union offers a range of traditional credit union financial services designed to help members achieve their financial goals:

Deposit Accounts: Savings accounts (share accounts), share certificates (certificates of deposit), and checking accounts.

Lending Services: Low-cost personal loans, auto loans, and other consumer loans. The credit union also offers vehicle service agreements.

Digital Banking: Online banking platform with e-statement enrollment, mobile banking app (Alba Golden FCU) available on Google Play for Android devices, account balance checking, transaction history viewing, fund transfers, and online loan applications and payments.

Additional Services: Member item sales and repossession sales facilitated through the credit union.

Question 6

What makes Alba-Golden Federal Credit Union (Alba-Gold FCU) unique?

Accepted Answer

Alba-Golden Federal Credit Union stands out for its deep community roots and personalized service approach. As a small community credit union that has served East Texas for over six decades, Alba-Gold FCU maintains the personal touch that characterized its founding in 1960.

The credit union's distinctive features include its single-office community focus, allowing staff to develop close relationships with members. Its geographic field of membership creates a tight-knit community of members from five neighboring East Texas towns.

Despite its small size, the credit union has demonstrated consistent growth, with total assets increasing from $700 at founding to over $19 million today. The credit union maintains strong financial metrics, including a robust net worth ratio of 17.81% and a healthy return on average assets of 1.97%.

The credit union's commitment to member service is reflected in its personalized approach and continued presence in downtown Alba, where it has maintained offices on or near the town square throughout its entire history.

Question 7

What type of financial institution is Alba-Golden Federal Credit Union (Alba-Gold FCU)?

Accepted Answer

Alba-Golden Federal Credit Union is a Federal Credit Union chartered by the National Credit Union Administration (NCUA) under charter number 13655. As a federal credit union, it operates under NCUA regulations and supervision, with deposits insured by the National Credit Union Share Insurance Fund (NCUSIF).

The credit union follows the cooperative financial institution model, where each member is an owner of the institution. Members aged 18 or older are entitled to one vote in credit union affairs, including the election of Board of Directors members at the Annual Meeting. A minimum deposit of $30 is required to open an account and establish membership.

As a voluntary, nonprofit, community-oriented institution, Alba-Golden Federal Credit Union is defined by its field of membership and operates with the mission of providing an efficient, effective, and well-managed financial institution that meets the needs of its members.

Alba-Golden Federal Credit Union (Alba-Gold FCU)

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About Alba-Golden Federal Credit Union (Alba-Gold FCU) in the United States