MAX Credit Union
| Company type | State-chartered credit union |
|---|---|
| Industry | Financial services |
| Founded | April 27, 1955 |
| Headquarters | Montgomery , United States |
Area served | Central and East Alabama (five counties) |
| Products | Consumer and commercial financial services |
MAX Credit Union operates as a state-chartered credit union with its main office located in Montgomery, Alabama. As of January 2021, it managed assets totaling US$1.77 billion and served a membership base of 116,418 across 18 branches situated in five counties within Central and East Alabama. In terms of asset size, MAX stands as the fifth largest credit union in Alabama and ranks 212th nationwide. The institution delivers both consumer and commercial financial solutions and is overseen by the NCUA.
History
The credit union was established on 27 April 1955 under the name Maxwell Federal Credit Union by a group of 16 Air Force members stationed at Maxwell Air Force Base. Its initial membership included military personnel and civil service workers from Maxwell and Gunter Air Force Bases, providing services such as loans and savings accounts. By the conclusion of 1955, membership reached 144 with assets amounting to $62,000. Growth milestones included surpassing $1 million in assets by 1963, $100 million by 1982, and $200 million by 1985.
In June 1960, the organization adopted the name Maxwell-Gunter Federal Credit Union as it expanded to additional branches located on both bases, Prattville, and Montgomery Mall. The credit union further extended its presence by opening a branch at Eastdale Mall in 1979 and introduced checking account services during this period.
The title MAX Federal Credit Union was adopted in 1985, coinciding with branch expansions along Zelda Road and Vaughn Road in Montgomery during the mid-1980s. A new branch was established in the Retirement Systems of Alabama building in 1996, followed by another location in Wetumpka in 1997.
On 25 February 1998, MAX obtained a community charter that permitted membership eligibility to residents of Montgomery, Autauga, and Elmore counties. In November 2007, members approved transitioning to a state charter to broaden its reach beyond the Montgomery Metropolitan Statistical Area, adopting the current name MAX Credit Union.
Since the charter change in 2007, MAX has inaugurated eight additional branches throughout Alabama cities including Montgomery, Prattville, Millbrook, Auburn, Opelika, Tallassee, and Troy. In February 2009, MAX introduced MAX Leasing USA, a subsidiary dedicated to commercial leasing services.
Products and services
MAX Credit Union delivers a comprehensive selection of banking products and services designed for both individual consumers and businesses to address varied financial requirements.
Community involvement
The MAX4Kids Foundation was created in 2001 by employees of MAX as a charitable non-profit organization. By January 2019, this foundation had contributed over $1 million toward the MAX4Kids Scholarship Program along with other children’s charities across the River Region and East Alabama. This initiative exemplifies MAX’s ongoing dedication to supporting education and community welfare.