By By Connie Nowlin Managing editor
Gulfwinds Federal Credit Union has purchased land at the corner of Church and Main streets.
Chris Rutledge, president and CEO of Gulfwinds, said the company made purchase with an eye to servicing the Atmore market. "It would be premature to discuss branch plans at this time," he said, adding that no time frame exists for construction of an office at the site.
Gulfwinds was formerly Monsanto Employees Credit Union. Credit unions are regulated by the National Credit Union Association, which also insures the deposits made in credit unions, much as the Federal Deposit Insurance Corp. does for banks.
Federal credit unions do not have restrictions on what states in which they may operate, but rather on the field of membership.
In order to belong to Gulfwinds, a person must live, work or worship in Escambia or Santa Rosa counties in Florida.
Currently there are no credit unions in Atmore.
"We do have intentions to offer great credit union service in Atmore," Rutledge said.