Mutual Savings Credit Union

Mutual Savings Credit Union is a credit union based in Hoover which dates to 1936.

On July 31, 2009, the Alabama Credit Union Administration took over operations of the institution. Then-CEO Dale Dalbey was replaced by Doug Key. The state initially estimated it would take Key 18 months to recover from a $5 million dollar loss that was suffered. However, Key's team was able to complete the job in 12 months, with the state agency relinquishing control and naming a new board of directors effective July 31, 2010. Key and his staff reduced expenses by more than $1.5 million through moves that included closing two branches and eliminating nine positions through attrition and layoffs.

Branches

• Headquarters, 2040 Valleydale Road, Hoover
• Alexander City
• 199 Bessemer Super Highway, Midfield
• 5100 U. S. Highway 31, Calera
• Clanton
• 3596 Pelham Parkway, Pelham
• Selma
• 5590 Chalkville Road, Trussville

References

• Williams, Roy L. (July 14, 2010) "Mutual Savings Credit Union will be released from conservatorship July 31." Birmingham News

External links

• Mutual Savings Credit Union website