NAECU was established in 1955 to serve employees of the local Huntsville educational community and has expanded over the years. The credit union now serves over 10,500 members and has accumulated over $82,000,000 in total assets. NAECU follows the philosophy of "Not for Profit, not for Charity, but for Service". The credit union exists for the sole purpose of serving the financial needs of our members. Account holders at NAECU are referred to as "members" because they actually own a share of the credit union. Members own the credit union and receive value through lower loan rates, higher savings rates, and reduced service fees. Eligibility for NAECU is available through a variety of methods. The following is a list of groups eligible for membership in North Alabama Educators Credit Union: All members of Parent-Teacher Organizations (PTA, PTO, PTSA) of schools located within the counties of Madison or Limestone, or within the City of Decatur, Alabama. (Sign-up forms are available at all offices). All Students of public or private schools located in the counties of Madison, Morgan, or Limestone. All Private Schools in Madison, Morgan, or Limestone Counties. (This includes all day cares, nursery, pre-school, church schools, and private colleges). Athens Bible School Athens City Schools Athens State University Calhoun Community College City of Athens Decatur City Schools Faulkner University Grace Lutheran School Highland Christian Academy Huntsville City Board of Education and School System Huntsville Rehabilitation Center J.F. Drake Technical College Limestone County Board of Education and School System Madison Academy Madison City Schools Madison County Board of Education and School System Randolph School T & C Stamping Technology Plus of AL Tennessee Valley Rehabilitation Center Virginia College (Hsv. & B'ham) WAAY-TV Westminster Christian School Retired Teachers in local counties. Relatives of NAECU members.