Driving the Economy
From farmers and shop owners to innovative entrepreneurs, credit unions provide the capital that fuels our economic growth.
Committed to improving financial health and wellbeing for all, credit unions transform everyday occurrences into economic opportunities.
PURPOSE-FUELED PROSPERITY
Money That Works for Everyone
Credit unions across the four-state region had an outsized economic impact in 2024—contributing $58 billion in total GDP through a powerful mix of direct ($28.14 B), indirect ($11.14 B), and induced ($17.76 B) activity.
Their cooperative model doesn’t just circulate dollars; it sustains communities, supporting more than 214,000 jobs; safe, secure employment that means families can effectively plan for the future.
As community-based financial institutions, our region’s 370+ credit unions are also committed to supporting local industry, and provided $4.22 billion in small-business lending last year.
More importantly, through low fees and higher rates, members can feel the Credit Union Difference in their pocket: nearly $5.9 billion was saved by local credit union members in 2024 alone.
Alabama
$4B GDP contribution
Induced: $1.226B
Indirect: $712M
Direct: $2.083B
$655B in small business loans
17.3K jobs supported:
Induced: 7K
Indirect: 3.8K
Direct: 6.5K
$533M member savings through lower rates and fees
Florida
$16B GDP contribution
Induced: $5.520B
Indirect: $3.963B
Direct: $6.324B
$1.6B in small business loans
69.4K jobs supported:
Induced: 29K
Indirect: 21.7K
Direct: 18.7K
$1.36B member savings through lower rates and fees
Georgia
$4B GDP contribution
Induced: $1.378B
Indirect: $466M
Direct: $1.871B
$765M in small business loans
15.5K jobs supported:
Induced: 7.4K
Indirect: 2.2K
Direct: 5.9K
$435M member savings through lower rates and fees
Virginia
$34B GDP contribution
Induced: $9.631B
Indirect: $6.005B
Direct: $17.877B
$1.2B in small business loans
112.3K jobs supported:
Induced: 50K
Indirect: 26.9K
Direct: 35.4K
$3.56B member savings through lower rates and fees
Building a brighter economic future
Credit unions across Alabama, Florida, Georgia and Virginia are creating meaningful change, one classroom, one conversation, and one community at a time.
Like countless other credit unions, Alabama’s WCU Credit Union teaches financial education at local high schools across every week.
Lessons on credit, budgeting, and job readiness give students the knowledge to make responsible financial decisions and prepare them for the workforce, building the foundation for future economic stability in their communities.
By reinvesting profits into people, credit unions turn community deposits into national economic impact.
$58B
Credit unions across our four states contributed $58 billion to the national Gross Domestic Product (GDP) reflecting jobs created, dollars spent with suppliers, and household spending.
$4.22B
Last year, small business owners received over $4.2 billion on loans from credit unions, stimulating industry and creating local jobs.
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With so many Low-Income Designated credit unions serving the four states, more first homes were financed, cars purchased, college accounts opened, and small businesses started in areas traditional lenders overlook.
Expanding impact and opportunities
In 2024, Northwest Federal Credit Union hosted their local mayor and economic development manager for a collaborative discussion focused on driving sustainable community growth and strengthening small business support.
This meeting, like countless others held by credit unions every day, underscores how credit unions are more than a financial institution—they’re an active community partner, helping to align local government, business leaders, and residents around shared economic priorities.
“Credit unions are non-profit financial cooperatives, which allows us to return more to our members by way of lower rates on loans, higher earnings on deposits, free or low-fee services such as debit cards, and to invest in the communities we serve.”
Kevin Johnson
President and CEO
Suncoast Credit Union
BUILDING RESILIENCE
A Healthier Economy Means Stronger Communities
Every dollar kept local strengthens more than just the economy; it builds stronger, more resilient communities. This is where credit unions shine. By turning financial growth into real-world impact—creating opportunity, stability, and belonging across our shared neighborhoods.