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:
- President—Elmon G. Terry
- Vice-President—Mary Alice Young
- Secretary—Curtis Newbern
- 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.