Mutual Savings Credit Union mergers with Apco Employees Credit Union
Subject to Regulatory Approval
We’re excited to welcome you to the Southern Energy Credit Union family! We recently shared that as of January 1, 2025, Mutual Savings Credit Union has officially joined APCO Employees Credit Union following an overwhelmingly positive merger vote. Together, we’ve rebranded as Southern Energy Credit Union. This new name reflects our shared growth and ongoing commitment to serving Southern Company employees and their families.
APCO Employees Credit Union has rebranded as Southern Energy Credit Union, marking a significant milestone in its 70-year history.
The transformation follows the mergers with Powerco Federal Credit Union and Mutual Savings Credit Union, which took effect over the last two years, expanding the credit union’s footprint across Alabama, Georgia and Mississippi. The new name reflects this growth while reinforcing its dedication to powering the financial success of Southern Company employees, retirees and their families.
“We have been proud to serve our members as APCO Employees Credit Union for the last 70 years,” said Derrick Ragland, Southern Energy Credit Union president and CEO. “Following the recent mergers, we were presented an opportunity for our brand to better reflect our new collective membership and credit union team.
“Our commitment to members, especially those from long-time partners, is stronger than ever, and we wanted an identity that fully represented that continued commitment,” Ragland added. “As we move forward into our next 70 years, we look forward to a bright future ahead serving members as Southern Energy Credit Union.”
Since its founding in 1953, APCO Employees Credit Union has worked to help members achieve their financial goals. Originally formed from the merger of three credit unions serving Alabama Power employees, the institution has grown into Alabama’s largest state-chartered credit union, with more than $3 billion in assets.
“While the name and look have evolved, the updated brand was intentionally designed to feel familiar,” said Southern Energy Credit Union Marketing Manager Claire Connolly. “From the name selection to the new colors and logo, our goal was for the rebrand to celebrate our recent growth and resonate with members who have been with us since our beginning, and those who are just getting to know us.”
Members can look forward to the same trusted, personalized service from the staff at their local branches, with the added benefit of expanded access to more locations and resources. All existing branch locations will remain open, and members will continue to be served by friendly staff they know. Southern Energy Credit Union remains committed to delivering industry-leading savings rates, competitive loan options and lower fees than traditional banks – all while continuing to operate as a not-for-profit, member-owned institution dedicated to empowering financial success.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen has advised on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation
Andre Gard
Associate