ASE Credit Union

What ASE Credit Union does

ASE Credit Union is a federally chartered, member-owned not-for-profit financial cooperative founded on February 26, 1954 in the basement of the Alabama State Capitol by 15 state employees with $265 in beginning shares. Originally chartered as Alabama State Employees' Credit Union to serve state employees and their families, it was granted a community charter in 2001 covering 11 Central Alabama counties and now operates as ASE Credit Union serving over 44,000 members with more than $400 million in assets. Its core product suite spans consumer depository products (Kasasa Cash, Kasasa Cash Back, Your Rewards, and basic ASE Checking accounts; Regular Share, Club, Super Saver, Kasasa Saver, Share Certificates, and IRAs), consumer and mortgage lending (auto, personal, HELOC, conventional/FHA/USDA/VA mortgages, and Visa credit cards), and small business banking.

The underlying technology stack is conventional digital banking infrastructure: an online banking portal, a native mobile app with mobile check deposit, Call24 automated telephone banking, the ASE Card Controls application (iOS/Android) for card management, and Visa debit/credit card issuance. Distribution combines nine owned branches across Montgomery, Millbrook, Wetumpka, Prattville, Clanton, Greenville, and Selma with the CO-OP Shared Branching network providing access to ~30,000 surcharge-free ATMs and 5,000+ shared branches nationwide, plus a preferred auto dealer program for indirect loan origination. Ancillary member benefits include Enrich Financial Wellness, Teladoc-based Virtual Health Benefits, Aetna Dental Access, complimentary AD&D insurance underwritten by Minnesota Life, GAP Advantage, and Route 66 Extended Warranty.

ASE's business model is the standard credit union net-interest-margin model: it earns interest income on its loan portfolio (mortgages, auto, personal, credit cards), pays dividends on member deposits, and collects fee income from overdrafts, wires, shared-branch transactions, and card services. As a not-for-profit cooperative, profits are redistributed to members through competitive deposit yields (up to 4.07% APY on Kasasa Cash, 3.85% APY on 9-month share certificates) and lower fees rather than returned to external shareholders. Revenue is supplemented by commissions on partner-distributed insurance, warranty, and health products.

Name

ASE Credit Union

Legal name

ASE Credit Union

Website

https://yourasecu.com

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

51–100 employees

Short description

ASE Credit Union is a federally chartered, member-owned not-for-profit financial cooperative founded in 1954, serving over 44,000 members across 11 Central Alabama counties with 9 branches, offering deposit, lending, mortgage, and digital banking products.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Depository Credit Intermediation (5221)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industries

Credit Cards & Revolving Credit (FSABAAAC), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Mortgage loans
• Credit union membership
• Deposit accounts

Headquarters

HQ city

Montgomery

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Lending: ASE Credit Union generates primary revenue from interest charged on loans including mortgages, auto loans, personal loans, home equity products, and credit cards. Loan products include conventional loans, FHA loans, USDA/VA loans, and Visa credit cards.
2. Deposit Interest Payments: As a not-for-profit cooperative, ASE pays dividends to members on deposit accounts including checking (Kasasa), savings, share certificates, and IRAs, with profits redistributed to members through better rates and lower fees.
3. Fee-Based Services: The credit union charges fees for various services including overdraft/NSF fees ($30), wire transfers ($20 domestic, $45 international), shared branch transactions ($2), safe deposit boxes, card replacements, and stop payments. These fees supplement interest income.
4. Supplementary Insurance and Protection Products: ASE offers GAP Advantage, Route 66 Extended Warranty, AD&D insurance, and Virtual Health Benefits as add-on products for members, providing additional revenue streams through partnerships with insurance providers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

ASE Credit Union is a federally chartered, member-owned not-for-profit financial cooperative offering a comprehensive suite of retail banking products. Core offerings include checking accounts (Kasasa Cash, Kasasa Cash Back, Your Rewards, ASE Checking), savings products (Regular Share, Club, Super Saver, Kasasa Saver, Share Certificates, IRAs), and lending products (mortgages, auto loans, personal loans, Visa credit cards). The credit union also provides digital banking via online, mobile, and Call24 channels, plus supplementary services such as Enrich Financial Wellness and Virtual Health Benefits.

Product overview

ASE Credit Union is a federally chartered, member-owned not-for-profit financial cooperative offering a comprehensive suite of banking products. The core offering consists of checking accounts (Kasasa Cash, Kasasa Cash Back, Your Rewards, and basic ASE Checking), savings accounts (Regular Share, Club Account, Super Saver, Kasasa Saver, Share Certificates, and IRAs), and lending products (mortgages, auto loans, personal loans, and Visa credit cards). The credit union also provides a digital banking platform enabling 24/7 access via online and mobile banking, mobile check deposits, and an ASE Card Controls app. Supplementary offerings include health and wellness benefits (Enrich Financial Wellness, Virtual Health Benefits), vehicle protection products (GAP Advantage, Route 66 Extended Warranty), and accidental death insurance. Business checking and savings accounts are also available. The institution serves Montgomery County and eight surrounding Alabama counties through nine physical branch locations and the CO-OP Shared Branch network.

Differentiator

Problem solved

Functional benefit

Products and services

• Kasasa Cash Checking High-yield checking account paying up to 4.07% APY on balances up to $15,000 with nationwide ATM fee refunds, requiring monthly qualification activities including direct deposit and 12+ debit card purchases.
• Kasasa Cash Back Checking Free checking account paying 3.00% cash back on up to $400 in monthly debit card purchases (up to $144/year), with nationwide ATM fee refunds, requiring 12+ debit card purchases per month.
• Your Rewards Checking Points-based rewards checking account where cardholders earn 1 point per $5 spent on POS and signature debit transactions, redeemable for cash back, gift cards, travel, and merchandise.
• ASE Checking Basic checking account with no monthly maintenance fees or minimum balance requirements, offering free online and mobile banking, a free Visa debit card, and access to surcharge-free ATMs.
• Regular Share Savings Basic share savings account serving as the gateway to ASE membership with a $5 minimum deposit, paying dividends quarterly and linking to checking for overdraft transfer.
• Club Account Savings account for holidays, vacation, or other savings goals where members decide when to deposit or withdraw funds.
• Super Saver High-balance savings account paying higher dividends than Regular Share for balances of $5,000 or more, with monthly dividend payments and a $100 minimum deposit.
• Kasasa Saver High-yield savings account that links to Kasasa Cash or Kasasa Cash Back checking, paying up to 1.00% APY on balances up to $50,000 when linked checking qualifications are met.
• Share Certificates Certificate of Deposit (CD) products with terms ranging from 3 months to 60 months, offering fixed rates with $500 minimum investment, including specials on 9-month (3.85% APY) and 15-month (3.55% APY) terms.
• Individual Retirement Accounts (IRAs) Retirement savings accounts including Traditional IRAs (tax-deferred contributions), Roth IRAs (post-tax with tax-free withdrawals), and Coverdell ESAs for education savings, with minimum deposit as low as $100.
• Home Mortgage Loans Mortgage products including home purchase and refinance loans, Home Equity Loans and Lines of Credit, Land Only Loans, Conventional Loans, FHA Loans, and 100% Financing USDA/VA Loans.
• Auto Loans Vehicle financing for new and used cars with pre-approval options, refinancing, and a preferred dealer program with dealership-based financing, at rates as low as 2.99% APR for terms up to 84 months.
• Personal Loans Unsecured personal loans for debt consolidation, purchases, or vacations with terms up to 60 months and rates as low as 10.00% APR.
• Visa Credit Card Credit card with variable APR of 8.99%-17.99% based on creditworthiness, no annual fee, and integration with the Your Rewards program for points earning on purchases.
• Business Checking Business checking account for Alabama business owners of any size, including a VISA Debit Card with nationwide ATM access and full online and mobile banking for cash management.
• Business Savings Business Basic Savings account with a $100 minimum deposit, granting business member-owner status and access to ASE's full range of business products and services through online, mobile, ATM, and Call24 channels.
• Digital Banking Platform Digital banking platform providing 24/7 account access via online banking, mobile banking, mobile check deposits, Call24 automated phone access, Bill Pay, and E-Statements.
• ASE Card Controls App Mobile application for managing ASE credit and debit cards offering card activation, PIN changes, transaction alerts, card suspension, spending limits, and travel notifications, available on iOS and Android.
• Virtual Health Benefits Program Non-insured health benefits including Teladoc ($0 per visit), Aetna Dental Access, Health Advocate Solutions, and vision discounts, available to members and their immediate families for a low monthly fee.
• Enrich Financial Wellness Program Financial wellness program providing education on money management, credit, insurance, and retirement planning, with online calculators and resources for members.
• GAP Advantage Guaranteed Asset Protection program that waives the difference between insurance settlement and loan payoff if a vehicle is totaled or stolen, with the GAP Advantage benefit providing up to $1,000 toward replacement vehicle financing.
• Your Rewards Program Rewards platform allowing points redemption for Checkout with Points, Pay with Points, Fuel with Points, cash back, gift cards, merchandise, theme park discounts, concert/sporting event tickets, and travel.

Quantifiable outcome

• Over 44,000 members served across 9 locations in 11 Alabama counties
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• CO-OP Shared Branching NetworkcoreChannel Partner/ Reseller/ DistributorPartnership with CO-OP Credit Union Shared Branching network enabling ASE members to access nearly 30,000 surcharge-free ATMs and 5,000+ shared branches nationwide. Members can conduct most branch transactions at any CO-OP location, greatly expanding the credit union's physical footprint beyond its 9 Alabama branches.
• TeladocminorOthersTeladoc provides virtual health consultation services as part of ASE's Virtual Health Benefits Program. Members receive $0 per visit for telemedicine consultations through this non-insured benefit program.
• Aetna Dental AccessminorOthersDental discount network offered through ASE's Virtual Health Benefits Program, providing members with access to dental services at discounted rates as part of the comprehensive member benefits package.
• Minnesota Life Insurance CompanyminorOthersInsurance provider underwriting ASE's complimentary $1,000 Accidental Death and Dismemberment (AD&D) insurance for eligible members aged 18 and older. Additional group-rate AD&D coverage available for purchase.
• Kasasa (Lusardi Management Corporation)coreTechnology or IntegrationKasasa is a brand of rewards checking products offered by Lusardi Management Corporation. ASE offers Kasasa Cash (high-yield checking), Kasasa Cash Back, and Kasasa Saver products. These branded reward accounts are a core component of ASE's checking and savings product lineup.
• Route 66 Extended WarrantyminorOthersMechanical breakdown coverage provider offering extended warranty products for vehicles financed through ASE. Coverage is fully transferable and available nationwide across the United States.

Scale indicators5 records

Recent moves10 records

Expansion highlights5 records

Emerging players

• Navy Federal Credit Union: Largest U.S. credit union by assets with a national membership field and a digital-first product suite (high-yield savings, consumer loans, mortgages). Provides a scale and digital benchmark for credit-union peers even though it does not directly compete in ASE's local geography.

Broad incumbents

• ServisFirst Bank: Alabama-based commercial bank with strong Central Alabama presence serving consumers and small businesses. Competitor for deposits, mortgages, and small business relationships in ASE's footprint.
• Redstone Federal Credit Union: Alabama's largest credit union (Huntsville-based) with multi-billion in assets, offering a much broader range of products and serving a wider geographic footprint than ASE. Comparable business model but at substantially larger scale.
• Regions Bank: Alabama-headquartered regional commercial bank with dense branch presence across the state and broad consumer/small business banking products. Overlaps with ASE on core deposit, mortgage, and consumer lending products in Central Alabama.

Direct peers

• MAX Credit Union: Montgomery-headquartered Alabama community credit union serving members across Central Alabama with similar consumer banking, lending, and digital banking products. Direct same-market competitor to ASE in Montgomery/Elmore counties.
• Alabama ONE Credit Union: Alabama community credit union of comparable size offering checking, savings, loans, and mortgages to consumer and small business members. Similar product mix and member-owned cooperative model to ASE.
• Alabama Credit Union: Statewide Alabama community credit union offering full-service consumer and small business banking, mortgages, and digital channels. Closely comparable in scale, charter type, and product breadth to ASE.
• APCO Credit Union: Alabama-based community credit union providing consumer checking, savings, lending, and business banking services. Similar field-of-membership structure and product set to ASE, serving overlapping Central/North Alabama markets.
• Listerhill Credit Union: Alabama-headquartered community credit union offering full retail banking, mortgages, auto loans, and digital services. Directly comparable as a member-owned cooperative of similar size with Alabama-only operations.
• Avadian Credit Union: Alabama-based community credit union offering consumer banking, lending, and business services across the state. Comparable cooperative model, digital capabilities, and product breadth to ASE.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/YOURASECU
• Instagraminstagram.com/ase_credit_union
• Xx.com/ASECreditUnion
• YouTubeyoutube.com/channel/UCwT0cVxGDlvjk9q2JbWqB2g
• LinkedInlinkedin.com/company/ase-credit-union

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ASE Credit Union