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Listerhill Credit Union is a nonprofit financial cooperative improving lives in our community.

If you live in Alabama, Georgia, Mississippi, Florida, or Tennessee, you are eligible to become a member. Depending on your individual eligibility, we may require membership into an approved association at no cost to you.

You can also qualify for membership by being a family member of a current or potential Listerhill member.

With only $5, you can join Listerhill today and start taking advantage of a lifetime membership.

HOLIDAY

All branches will be self-service only Tuesday, November 11th, for Veterans Day. Normal business hours will resume Wednesday, November 12th. Smart ATMs and Online and Mobile Banking will remain available.

Meals On Wheels

People Helping People: Community Action Agency of Northwest Alabama

We gave Meals on Wheels $500 for their efforts during COVID-19.

Editorial Note: Articles published are intended to provide general information and educational content related to personal finance, banking, and credit union services. While we strive to ensure the accuracy and reliability of the information presented, it should not be considered as financial advice and may be revised as needed.

Due to the COVID-19 pandemic, many organizations adjusted their practices and provided relief to people in need throughout their communities. Listerhill assisted these organizations by featuring them and donating $500 to their efforts! This article features Meals on Wheels through the Community Action Agency of Northwest Alabama.

Meals on Wheels of The Shoals ensures that seniors have access to adequate nutrition year round by delivering a hot, nutritious meal free of charge to those who can no longer cook for themselves due to a disability, doctor recommendation or recent surgery. They serve our elderly neighbors and those recovering from a surgery or who have a disability, living in Lauderdale, Colbert and Franklin Counties.

During the COVID-19 pandemic, Meals on Wheels of The Shoals adjusted their delivery schedules for the safety of their clients and volunteers – many of whom were in the high-risk category for COVID-19. During the state shutdown, the Sheriff Departments of all three counties delivered meals to their clients. Their delivery days changed from five days a week to three days a week with a hot meal and frozen meal delivered each day to cover six days of meals. This allowed them to reduce the risk of infection of their clients and volunteers. As our community opened back up, their volunteers returned for delivery but still observed the three days a week delivery schedule, wearing masks, wearing gloves, practicing sanitation best practices and social distancing with volunteers.

Meals on Wheels of The Shoals saw an increase in need for their services when the pandemic began and worked tirelessly to get everyone on a route for meal delivery. They delivered six meals per week, one hot and one frozen each week. This allowed them to have consistent interaction with their clients to ensure their wellness, mental health and connection with others. They are often the only interaction some of these community members have with the outside world, so it is important to check on them consistently.

Meals on Wheels of The Shoals is totally funded by our community and has been for 44+ years. A donation of $20 feeds a senior for a week! Donations can be made by going to their website at www.caanw.org and donating through their "Donate" button or by sending a check to the Meals on Wheels of The Shoals office at 745 Thompson Street, Florence, Alabama 35630. Those wishing to volunteer may contact them by calling 256-766-4330 ext. 106 and their coordinator will help plan volunteer time that fits your schedule.

Have an initiative or event you'd like to request funding for from Listerhill? You can fill out a donation request form here.

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Frequently Asked Questions

  • Do I have to be a member to apply for a fixed-rate loan?

    Yes, you need to be a Listerhill member to apply for loans. To qualify for membership with Listerhill, you must meet one of the following requirements:

    • If you live in the states of Alabama, Georgia, Mississippi, Florida, or Tennessee, you are eligible to become a member.
    • Depending on your individual eligibility requirements, we may require membership in an approved association at no cost to you.
    • You can also qualify for membership by being a family member of a current or potential Listerhill member.
       
  • How important is my credit history in determining whether I qualify for a loan?

    Your credit history is extremely important to lenders when deciding whether to offer you a loan, because it provides an indication of how likely you are to pay back what you owe. This helps lenders determine how much of a risk you are. Typically, the better your credit history, the less risky you appear to lenders, and the better (lower) the interest rate you are likely to be offered.

    Lenders do, however, look at other factors such as income, job stability, and existing debts. Credit unions like Listerhill are also known for taking a more holistic look at their members’ finances when deciding whether to approve a loan, rather than relying solely on the numbers.

  • What is a good down payment on a home?

    A down payment of up to 20% is considered good by many lenders. This gives you a significant stake in the property that you are borrowing money to buy. Lenders see a substantial down payment as a good indicator that you will continue to make payments because you risk losing your own money if you do not. Typically, you’ll get a lower mortgage interest rate the more money you are able to put down, although lenders do look at other factors as well.

  • What is a debt-to-income ratio?

    Your debt-to-income (DTI) ratio compares your monthly debt payments relative to your gross monthly income. Mortgage lenders use it to evaluate how well you manage debt and whether you can afford a new loan. A lower DTI generally makes it easier to qualify for mortgages and other loans. For conventional home loans, many lenders look for a DTI below 43%.

  • How much is a $300,000 mortgage payment?

    Assuming you borrowed $300,000 on a fixed 25 year mortgage loan at a current average annual percentage rate (APR), you could expect to pay about $2,120 per month (not including taxes and insurance premiums). This does not include any down payment you might make on the total purchase price of the house.