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The Lauderdale County Teachers Credit Union
(LCTCU) was established
December 14, 1956, to serve the financial needs of the employees and their
families of the Lauderdale County school system.
The first officers of the Lauderdale County Teachers Credit Union were as
follows:
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President—Elmon G. Terry
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Vice-President—Mary Alice Young
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Secretary—Curtis Newbern
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Treasurer—David A. McFall
The first credit committee was composed of W.H. Walker, Marcella
Eckl, and W.L. Hofferbert. The first
Supervisory Committee was composed of Allen Thornton, Inis Wilson, and Jeanette
Newton.
Total assets of Lauderdale County Teachers Credit Union at the end of the
first year of operation were $10,000.00.
The Credit Union was sponsored by the Lauderdale County Board of Education
and operated out of that office until March 31, 1978.
The Credit Union moved into its own building at 210 West Tennessee
Street, Florence, AL on April 1, 1978, and a second employee was added.
In August, 1987 it was relocated to it’s present location at 103 Mangum
Street, Florence, AL.
Presently, the Lauderdale County Teachers Credit
Union operates with a five-member Board of Directors, a three-member
supervisory committee, seven full-time employees and one part-time employee.
Current assets as of 12/31/2004 are over 35 million in assets.
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