History and Growth of Coosa Pines Federal Credit Union
"Coming together is a beginning; keeping together is progress; working together is success." - Henry Ford, American Industrialist and Entrepeneur
Coosa Pines Federal Credit Union was chartered in 1950 by a small group of paper mill employees in Childersburg, Alabama. The credit union was operated out of a small office within the paper mill, and membership was open only to employees of the mill, their immediate family members, and members of their households. For many years, the mill ran strong in Talladega County, and the credit union grew just as strong, outgrowing the little office inside the mill. The members of Coosa Pines constructed the first credit union office building, which still serves as the Childersburg branch and Corporate Office, on property adjoining the mill, amid the great evergreen pines of Central Alabama.
Over half a century later, the credit union’s directors and members decided that it was time to open the field of membership to their friends and neighbors, allowing them access to the benefits of credit union membership.
In 2003, Coosa Pines Federal Credit Union opened its charter to include all those who live, work, worship, or attend school in Talladega, Coosa, Clay, Shelby, and St. Clair Counties. Now the charter area also includes parts of Jefferson County. The first branch office was established in Sylacauga (Talladega County), and was followed by branches in Chelsea (Shelby County) and Pell City (St. Clair County). With the 2010 merger of Jefferson Community Development Federal Credit Union, CPFCU members are now served by a fifth location in Roebuck (Jefferson County).
Today, Coosa Pines FCU serves almost 22,000 members and maintains over $220 million in assets. With five offices in the six county membership field, the credit union is larger than ever and still growing. Coosa Pines FCU is also strong and secure, with deposits federally insured to $250,000 by the National Credit Union Administration (NCUA) and to an additional $250,000 by American Share Insurance, the nation’s largest provider of private share insurance to credit unions since 1974. Coosa Pines FCU is democratically controlled by a volunteer board of directors elected by credit union members, and remains committed to member service and security, sound and conservative operation, furthering financial literacy among its members and neighbors, and strengthening communities through leadership and volunteerism.