Alba-Golden Federal Credit Union has as its mission, the responsibility for providing an efficient, effective and well managed financial institution that meets the needs of its membership. In order to accomplish this mission, the Alba-Golden Federal Credit Union will continue a sound yet progressive asset management strategy and provide new and improved financial services to current and future members through membership input and management initiatives.
History and Structure
Alba-Golden Federal Credit Union is a voluntary, nonprofit and community oriented business defined by our field of membership. Each primary member is an owner of the Credit Union and at the age of 18 or older is entitled to a single vote regarding the business of the Credit Union by attending the Annual Meeting and voting to elect and fill the Board of Directors vacancies. The Alba-Golden Federal Credit Union was chartered in 1960, with 54 members and total assets of $700.00. This financial institution was located on the west side to 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 31, 1982, the Credit Union had 254 members with shares totaling $191,797.00. Dedication and official opening was held August 29, 1982 for the new offices, Alba-Golden Federal Credit Union was relocated in the newly renovated First State Bank building, which was originally constructed in 1916? The board of directors at the time included: H.B. Blount, Jr., J.E. Brown, Katie Caffey, J.P. Gaston, L.T. Oliver, C.W. Romans and Wallis Smith. At the end of August, total assets were $205,920.
In 1988, a boundary extension was needed to serve a larger area, for the growth of the Alba-Golden Federal Credit Union. To make this possible, our member Bobbie Barnett did all the work for a new charter to be drawn up which included the new boundaries and then the amendment had to be approved by NCUA. On October 20, 1988, the Credit Union received the amendment on the boundary extension and adopted the amendment on November 8, 1988 from NCUA. The board of directors at the time included: Paul Barnett, Patsy Brott, Ernest Russom, Diane Caughron, Gary Bohannan, Jerry Adair and Terry Galyean. At this time, assets totaled $281,152.
In October, 2011 the Credit Union again made the move to a new location. We are currently located on the square in Alba across from City Hall. Our membership has grown to 1,180 and our assets total $10,006,600.23 as of December 31, 2012.