Our History

Our history tells us that on November 14, 1951, ten Mobile City and County Employees became charter members for M.C.& C.E. Federal Credit Union. They were and are Mrs. Monica H. Albert, Mr. Charles A. Boyes, Ms. Helen Crichlow, Mr. Arnold Debrow, Mr. E.C. Dowdy, Captain Herndon H. Edwards Jr., Mr. W. Ellsworth Haughton, Mrs. Helen S. Morton, Mr. H.G.Zeigler, and Clifton C. Williams, who served as the first president of the Board of Directors. After organizing as M.C. & C.E., the monthly meetings were held in a small room in City Hall and the Credit Union assets were kept in a vault located in the water department; now known as the Mobile Area Water & Sewer System. The first loan was made on February 8, 1952, in the amount of ten dollars with assets totaling $279.83.

In 1969, land was purchased on Springhill Avenue and on December 5, 1970, we moved into our first office, one of our current locations, 1001 Springhill Avenue. Our first attempt at expanding occurred in1988, when we opened our first branch on Cottage Hill Road. Due to circumstances beyond our control, we sold our interest in this building. Then on March 26, 2001, we opened a new office located at 4313 Downtowner Loop South, which provides Saturday services as well.

Due to the trust and relationship we have with our members, we have grown from ten charter members in 1951 to over 5,200 members at present and our assets have grown from $279.83 to over $22 million as of December, 2005.

Our members have demonstrated over the years that there is no limit to what any group can achieve when they all pull together in one direction.

Your Savings are Secure

Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

As a member of a federally insured credit union, you do not pay directly for your share insurance protection. Your credit union places a deposit into the NCUSIF and pays an insurance assessment based on the total amount of insured shares and deposits in the credit union. Federally insured credit unions are required to deposit and maintain one percent of their insured shares and deposits in the NCUSIF.

Share accounts in federally insured credit unions are insured up to the Standard Maximum Share Insurance Amount (SMSIA), $250,000 as of October 3, 2008. The Emergency Economic Stabilization Act of 2008 increased the insurance coverage on all accounts up to $250,000 until December 31, 2009.

You may obtain additional separate coverage on multiple accounts, but only if you have different ownership interests or rights in different types of accounts and you properly complete account forms and applications. For example, if you have a regular share account and an Individual Retirement Account (IRA) at the same credit union, the regular share account is insured up to $250,000 and the IRA is separately insured up to $250,000. However, if you have a regular share account, a share certificate, and a share draft account, all in your own name, you will not have additional coverage. Those accounts will be added together and insured up to $250,000 as your individual account. Additionally, shares denominated in foreign currencies are insured as outlined in NCUA Rules and Regulations.

Coverdell Education Saving Accounts, formerly education IRAs, are insured as irrevocable trust accounts and will be added to a member’s other irrevocable trust accounts and insured up to the SMSIA. Roth IRAs will be added together with traditional IRAs and insured up to $250,000.

Additional coverage is available on revocable trust or payable on death accounts on a per beneficiary basis. A co-owner’s interest in all joint accounts in the same credit union will be added together and insured up to the SMSIA. 

At Gulf Coast Federal Credit Union you're not a customer, you're a member.

Your savings are Federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.