Question 1

What is Listerhill Credit Union?

Accepted Answer

Listerhill Credit Union is a member-owned, nonprofit financial cooperative headquartered in Sheffield, Alabama. Founded in 1952, it has grown from a small workplace-based credit union to one of the largest credit unions in Alabama with over $1.4 billion in assets and more than 91,000 members. Listerhill operates 16-18 branch locations across northwest Alabama and south central Tennessee, serving 13 counties with a comprehensive range of financial services. The credit union has been recognized by Forbes magazine as the best credit union in Alabama, earning this distinction multiple years for its exceptional service, digital innovation, and member satisfaction.

Question 2

When was Listerhill Credit Union founded?

Accepted Answer

Listerhill Credit Union was chartered on January 1, 1952. Seven employees of the Reynolds Metals plant in Sheffield, Alabama came together, each contributing $5, to create a financial cooperative that would protect their fellow factory workers from predatory loan sharks.

These loan sharks were charging exorbitant interest rates and trapping workers in never-ending debt cycles. The founders established the credit union right on the shop floor of the Reynolds Company building, with the first branch located inside the factory itself.

The name "Listerhill" honors Senator J. Lister Hill, who worked with Reynolds company founder Richard Reynolds, Sr. in the 1930s to alert the U.S. government about Nazi Germany's war preparations. The community surrounding the Reynolds plant in Colbert County also adopted the Listerhill name, cementing the credit union's deep roots in the local area.

Question 3

Where is Listerhill Credit Union headquartered?

Accepted Answer

Listerhill Credit Union is headquartered in Sheffield, Alabama, with its main office located at 703 S Montgomery Avenue. The headquarters sits across the street from the original Reynolds Metals plant where the credit union was founded. Additional administrative operations are conducted from the credit union's main office at 4790 2nd Street in Muscle Shoals, Alabama.

Question 4

Where does Listerhill Credit Union operate?

Accepted Answer

Listerhill Credit Union operates 16-18 branch locations across northwest Alabama and south central Tennessee. In Alabama, the credit union serves Colbert, Lauderdale, Franklin, Marion, Winston, and Cullman counties, with branches in Sheffield, Muscle Shoals, Florence, Athens, Rogersville, Russellville, Haleyville, Hamilton, Killen, Cullman, Double Springs, and Winfield.

In Tennessee, Listerhill has expanded into south central communities including Columbia and Spring Hill. The credit union's membership eligibility has broadened over the years—anyone who lives, works, or attends school in Alabama, Georgia, Mississippi, Florida, or Tennessee can join. Family members of current Listerhill members are also eligible for membership, typically requiring just a $5 deposit to open an account.

Question 5

What services does Listerhill Credit Union offer?

Accepted Answer

Listerhill Credit Union provides a comprehensive suite of financial products and services comparable to traditional banks. Deposit accounts include everyday checking, growth checking (interest-bearing), savings accounts, money market accounts, certificates of deposit, IRAs, and specialized accounts for children and seniors.

Lending services encompass mortgage loans, home equity loans, auto loans, recreational vehicle loans, personal loans, and business loans. The credit union offers competitive rates and participates in mortgage selling and processing programs.

Digital banking services are a key strength, featuring a highly-rated mobile banking app with mobile check deposit, online banking with bill pay, account transfers, e-statements, and innovative 24/7 Smart ATMs. These Smart ATMs offer live video teller assistance during business hours and can handle cash deposits, check cashing, withdrawals, payments, and account transfers.

Additional services include Visa debit cards with instant issuance at branches, Visa Signature Rewards credit cards with cash back, overdraft protection, financial education programs, financial counseling, insurance and investment services, student scholarships, and no-surcharge access to CO-OP Shared Branch networks.

Question 6

What makes Listerhill Credit Union unique?

Accepted Answer

Listerhill Credit Union distinguishes itself through several notable characteristics. The credit union holds a remarkable historical record—founding member Cyril Mann served as chairman of the board for 57 years, the longest-serving chairman in U.S. credit union history.

Forbes recognition as Alabama's best credit union multiple years demonstrates exceptional member satisfaction across trust, terms and conditions, branch services, digital services, and financial advice. Only 3.6% of the nation's 5,068 credit unions achieved Forbes' ranking.

Technology innovation sets Listerhill apart with its proprietary Smart ATM network offering 24/7 banking with live video teller support—a feature unavailable at most other financial institutions. The credit union combines cutting-edge digital capabilities with personalized small-town service.

Community commitment remains central to Listerhill's mission, with extensive local investment including sponsorship of farmers' markets, the "Kicks for Kids" program providing shoes to children in need, and partnerships with Athens State University for literacy and financial education initiatives. The credit union emphasizes financial education to protect members from predatory lending, staying true to its founding purpose.

Question 7

What type of financial institution is Listerhill Credit Union?

Accepted Answer

Listerhill Credit Union is a federally insured, state-chartered credit union regulated by the Alabama Credit Union Administration and the National Credit Union Administration (NCUA). As a state credit union, it operates under Alabama state law while maintaining federal deposit insurance through the NCUA.

The credit union follows the cooperative financial model, meaning it is owned by its members rather than external shareholders. Each member has equal voting rights regardless of account size, and any member can be elected to the volunteer board of directors.

Decisions are made to benefit the membership as a whole, with profits returned to members through competitive dividend rates, lower loan rates, reduced fees, and enhanced services. This member-owned structure allows Listerhill to prioritize people over profit while maintaining strong financial performance with over $1.4 billion in assets and a well-capitalized status.

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About Listerhill Credit Union in the United States