Authority and Responsibility

Established in May of 1985 by Legislative Act 85-457 (the Act), the Alabama Credit Union Administration is an independent state agency devoted exclusively to chartering, regulating, and supervising Alabama state chartered credit unions. The ACUA is one of only a very few state agencies nationwide that enjoys such independence. The Alabama Credit Union Administration was accredited by the National Association of State Credit Union Supervisors (NASCUS) in 1998. Accreditation standards are reviewed every five years. In February 2014, the agency was reaccredited by NASCUS for five years.

The Act provides for the annual examination of each credit union’s books and records for safe and sound operation. On every such examination, inquiry is made as to the conditions and resources of the credit union, the mode of conducting and managing the affairs of the credit union, and the action of its directors, officers, and management. The agency’s examiners also inquire into the investment of the funds (deposits) of the credit union, the safety and soundness issues affecting the credit union, and whether the requirements of its charter and applicable laws have been complied with. In addition to annual examinations, multiple examinations shall occur whenever, in the judgment of the Administrator, the condition of a credit union or the public’s best interest render additional examinations necessary. The ACUA also approves charters for new credit unions, supervises mergers, liquidations, bylaw changes, field of membership changes, and promulgates regulations as necessary.

Examining staff, in their capacity, assist credit unions in practicing due diligence, increasing efficiency and ensuring strong internal controls. Examiners also review compliance with applicable laws and regulations, and oversee corrective actions where required. When necessary, ACUA may augment its regulatory presence through the issuance of Memoranda of Understanding (MOU’s), Letter of Understanding and Agreements (LUA’s), Cease and Desist Orders (C&D’s), and Conservatorship Orders. is a website developed by the NCUA to provide consumers information about credit unions. Click on logo above for a wide range of information about financial products and services available to credit union members.