The Administrator of the Alabama Credit Union Administration (ACUA) terminated the conservatorship of Alabama One Credit Union (Alabama One). ACUA operated Alabama One under conservatorship for nearly 18 months, restoring the credit union to profitability and remediating deficiencies that led to conservatorship.
“Alabama One’s management team and employees led by William (Bill) Wells, chief executive officer, worked tirelessly to restore sound operations to safeguard Alabama One’s members’ hard-earned money,” said Sarah H. Moore, Administrator and Chairman of the Board of ACUA. Moore added, “The new leadership of Alabama One transformed the credit union into a great place to work and to do business.”
The members of the Board of Directors and Supervisory Committee who were elected by the Conservator to serve Alabama One’s members are:
Board Members: Supervisory Committee Members:
Tamika Alexander Franklin Bohannon
Marion Dodson Julie Smith
Thomas Fanning Jonathan Walker
Margaret (Loo) Whitfield
Sheriff Ron Abernathy
“We are pleased these outstanding individuals agreed to volunteer their time and talents to serve the membership of Alabama One,” said Moore.
Alabama One, established in 1951, is a state chartered federally insured credit union with 11 branches. With more than 61,000 members and nearly $589 million in assets, membership in Alabama One is open to individuals and their family members who live, work, worship or attend school in 21 counties in Alabama.
ACUA is the Alabama state agency created by the Alabama Legislature to regulate, charter and supervise state-chartered credit unions. NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federally insured credit unions.