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Five Star can also search the Sharpen knowledge base and even start a ticket within a resource page. Just typing in a few keywords auto-populates relevant resources, helping users get answers faster and eliminating the need to submit a ticket.

"However, the fact that tax and CRA-exempt credit unions are still allowed to purchase tax-paying community banks has much broader implications that, at some point, our state and federal legislators will need to address," McNair said.

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After closing this acquisition, Five Star will have total assets of approximately $950 million and will expand its footprint to 23 branches across lower Alabama and south and middle Georgia. The credit union has about 56,000 members.

Only 111 credit unions currently use The Clearing House's real-time payments platform, out of nearly 5,000 nationwide, but having the world's largest credit union in the system could lead more to join.

"As you can see, the pace has really accelerated," said Michael Bell, partner and co-chair of the Financial Institutions Practice Group. "I do expect this to continue, certainly not three per week, but more deals are coming. There are forces at the smaller levels of banking that are driving sales and strategies in credit union land, increasing buyers."

Five Star Credit Union was founded in 1964 in Cedar Springs, Georgia, and was chartered to serve the employees of the Great Southern Paper Co. Today, the nonprofit financial institution is headquartered in Dothan and serves more than 55,000 members across Alabama and Georgia. Alabama residents are eligible for credit union membership if they live, work, worship or attend school in eight southeast Alabama counties, and membership is open to individuals who live and work in 15 counties in southern Georgia.

Listerhill Credit Union was founded just more than 70 years ago when seven employees at Reynolds Metals decided to form a cooperative that would address a growing issue of predatory lending to vulnerable plant workers. Today, it is the seventh largest credit union in Alabama with $1 billion in assets and serving 100,000 members in northwest Alabama and south central Tennessee.

The pace of such deals began slowly this year, but 2023 has now caught up to its record-tying predecessor, 2022, as 10 credit union-bank combinations had been announced by the end of August in each year. Last year ended with 16 deals.

Over the last several years, Five Star has relied on the skills and expertise of the Wilary Winn team to perform our annual goodwill impairment testing. They have always been accessible, professional, and a valued partner. I look forward to working with them in the future and would recommend them to any credit union in need of a goodwill impairment test.

The $10,000 grant will enable five students to be able to attend college tuition free this upcoming school year. The grant goes into the Southern Regional Technical College scholarship system. The recipients of the scholarship will be chosen by the Southern Regional Technical College.

The Five Star Credit Union Foundation awarded $50,000 total to five schools in communities it serves this year. Wallace Community College in Dothan, AL received $10,000. Wallace Community College in Eufaula, AL received $10,000. Southern Regional Technical College in Bainbridge, GA received $10,000. Enterprise State College in Enterprise, AL received $10,000. This will help 17 students attend college tuition-free their freshman year.

Terms: 3.875% introductory rate; 0 points. Member allowed to escrow with 80% LTV and 0.125 point cost. Lock-in period of 50 days. Interest only not allowed. Minimum financing amount $100,000. Floor Rate: 2.875%. Index: 1 Yr CMT. Margin: 2.875%. Rate Cap: 2/5 (2% maximum per adjustment period, 5% maximum above the initial interest rate over the life of the loan). For more information, stop by any APL FCU branch or call 443-778-5250 to speak with a credit union representative.

I have banked with bright star for 10 years and knew I waned to use them when it was time to purchase a vehicle. Zoie and Liliana were so helpful and made the process so easy. We were approved quickly and with the help of their AutoAdvisors service, we found and purchased our vehicles within a week. Great service!!!

Absolutely a "five star" experience. From the branch manager to the tellers, the staff is helpful, professional, knowledgeable and kind. I have had a personal checking/savings account for many years with BSCU and now a business account. For personal attention to YOUR needs check them out! You will be happy you did. Thank you Bright Star Credit Union!

Every credit union we include in our CD rankings is federally insured by the National Credit Union Administration (NCUA). That's a credit union's equivalent to the Federal Deposit Insurance Corporation (FDIC), and it provides the same $250,000 of federal protection on your deposits should the institution fail.

In this Q&A conversation, Tyler shares the most important lessons Five Star has learned over the past five years of transforming the branch dynamic and member experience through next-generation ITM technology. 17dc91bb1f