Frugalicious facts

What is a credit union?
A credit union is a not-for-profit institution designed to provide financial services to members. Each member owns a “share” of the company and therefore controls what happens to it. Collectively, they elect a board of directors (all volunteers) to establish everything from policies to loan rates. As a result, credit unions provide a safer, more convenient place to borrow and save money.

Credit unions pride themselves on customer service. And unlike banks, they work with each other, not against. This friendly, collaborative spirit empowers the credit union movement at the local, regional, national and even international level. (Where do you think the term “shared branching” comes from?)

Are savings insured?
Absolutely. The National Credit Union Administration (NCUA), an independent U.S. government agency, federally insures all savings up to $250,000. IRAs and Roth Accounts are separately insured.

Can anyone join?
All frugalicious folks are welcome! There was a time when you had to work for a large organization to belong to a credit union, but not anymore. To become an ACU member, there is a one-time fee of $5, and a $5 minimum opening deposit. Drop by a branch or sign up online at acuonline.org/join. We currently have more than 150,000 members – you could be next!

Why is ACU “Better than a Bank”?
Because we’re not a bank. Since banks are owned by shareholders, the ultimate goal is to make money. We don't operate like that. And thank goodness – because a staggering 25 banks failed in Georgia in 2009. ACU offers the same conveniences and services, but any surplus profits we make benefit our members in the form of better interest rates on everything from credit cards to savings accounts.

Where are ACU branches located?
ACU offers the largest branch network in Georgia, with 28 locations in Atlanta and four in Augusta. For a full list, click here. We also belong to a nationwide network of Credit Union Service Centers across the country, allowing our members to make transactions from just about anywhere.

And ATMs?
As part of CO-OP, the largest credit-union-only ATM Network in the country, ACU offers surcharge-free access to 28,000 ATMs in the U.S. and Canada, and more than 800,000 worldwide. Click here for locations.

Why choose ACU?
How frugalicious of you to ask! ACU is ranked in the top 150 credit unions in the country and was recently ranked fifth (by total assets) in Georgia’s top 25 credit unions. We are continually developing new products and offering some of the best rates available. Not convinced? Check out our competitive rates and services at acuonline.org.