APCO Employees Credit Union Named Among Most Efficient Credit Unions in America
Birmingham, Ala. – March 1, 2022 – APCO Employees Credit Union was included in The Business Journals’ first List of America’s Most Efficient Credit Unions, which was ranked by deposits per full-time employee. APCO Employees Credit Union ranked number 14 in the nation on the list.
Founded in 1953, APCO Employees Credit Union has grown to become the second largest credit union in Alabama with more than 72,000 members and $3.6 billion in assets and with 135 employees at 20 locations across the state. “I attribute the growth to remaining focused on our mission of making the financial difference for members,” said Derrick Ragland, President and Chief Executive Officer of APCO Employees Credit Union.
“Our sight is set on providing reliable, efficient and competitive products while continuing to provide strong returns to our members. Operational efficiency has helped establish our foundation for being good stewards of our members’ money,” Ragland noted. APCO Credit Union’s operating expense ratio to average assets was 0.6304% for December 2021. The Credit Union’s historically low operating cost combined with above market dividend rates, have affirmed its position as a leading financial institution in Alabama. In 2013 and 2020, APCO Employees Credit Union was recognized as the nation’s top credit union for delivering benefits to members by the Credit Union National Association (CUNA).