Students, Faculty, and Staff Can Enjoy Exclusive Benefits from the Only HBCU Credit Union in Alabama

Nestled at the top of The Hill on Campus Road, next to the Department of Public Safety and across from Stephens Hall, sits a small building with a powerful legacy. Councill Federal Credit Union, the only HBCU-based credit union on a college campus in Alabama, has quietly served Alabama A&M University students, faculty, staff and the surrounding community for more than 70 years, providing access to financial tools designed to build stability, opportunity and financial empowerment.

Established May 28, 1954, Councill Federal Credit Union was created with the signing of Charter No. 9554 before Probate Judge Ashford Todd in Huntsville, Alabama. The original 10 signers included then-Alabama A&M College President Dr. Joseph Fanning Drake and community leaders R.A. Carter, John A. Browder, George H. Hobson, Leon W. Bonner, W.H. Hollins, Charles W. Orr, G.R. Ragland Jr., William S. Edmond and Leander R. Patton. Each invested $5 to launch an institution designed to increase purchasing power and create financial opportunities for minorities at a time when access to traditional banking was limited.

In its earliest years, the credit union operated out of the offices of accounting professors Henry Torrance and Wilbert Cooper. The University later provided space on the first floor of the Vocational Building, where Tessie Davis Horace became the credit union’s first full-time employee. From those beginnings, Councill Federal Credit Union has grown to more than 600 members and manages millions of dollars in assets, remaining a trusted financial resource in Huntsville.

Today, membership is open to Alabama A&M University students, faculty and staff, as well as employees of Huntsville and Madison County public schools, ARA Slater (ARAMARK), J.F. Drake State Technical College, immediate family members of current and retired members, and organizations composed of eligible individuals.

Talbot Malone, who became manager in April 2024, leads the credit union alongside service representative Danielle Johnson.

“Our mission is simple: help our members build stability and confidence in their finances,” said Malone. “We want students, faculty, staff and community members to know they have a welcoming place right here on campus with competitive rates and real opportunities to grow.”
Joining the credit union costs $30, which includes a $5 membership fee and $25 in shares. After three months of membership, individuals may apply for a short-term loan of up to $1,000 with no credit check. Members with lower credit scores may qualify for loans up to $10,000, while those with higher credit scores may be eligible for loans up to $15,000.

Councill Federal Credit Union offers a full range of services designed to meet everyday financial needs. Savings accounts are insured up to $250,000 through the National Credit Union Administration. Loan options include signature loans, new and used auto loans, share-secured loans, certificate-secured loans and short-term loans. Members can make deposits and withdrawals in person, by mail, by phone or through payroll deduction. Additional services include free notary service, Christmas Club accounts, share certificates, direct deposit and payroll deduction.

“This is a place where people can feel comfortable asking questions and learning how to better manage their money,” added Johnson. “We invite anyone who’s eligible to stop by or give us a call and see how we can support their financial goals.”
Beyond its services, Malone said the credit union’s presence on campus carries deeper meaning.

“Supporting Councill Federal Credit Union means supporting a Historically Black-owned institution with deep roots at Alabama A&M,” said Malone. “As we approach 71 years of service, we’re proud to continue serving this community and helping our members move forward.”

Councill Federal Credit Union is open Monday through Friday from 9:00 a.m. to 4:00 p.m. and generally follows the Alabama A&M University calendar. For more information or to begin the membership process, call 256-372-5706 or visit the office on Campus Road.