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 SchoolAthens City SchoolsAthens State UniversityCalhoun Community CollegeCity of AthensDecatur City SchoolsFaulkner UniversityGrace Lutheran SchoolHighland Christian AcademyHuntsville City Board of Education and School SystemHuntsville Rehabilitation CenterJ.F. Drake Technical CollegeLimestone County Board of Education and School SystemMadison AcademyMadison City SchoolsMadison County Board of Education and School SystemRandolph SchoolT & C StampingTechnology Plus of ALTennessee Valley Rehabilitation CenterVirginia College (Hsv. & B'ham)WAAY-TVWestminster Christian SchoolRetired Teachers in local counties.Relatives of NAECU members.