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Local Rates In ALABAMA

Find Local Rates in Alabama

Alongside Mississippi to the east sits the southern state of Alabama, which also shares a small portion of the Gulf coast as well as plenty of inland territory. The state is also bordered by Tennessee, Georgia and Florida. Alabama is a modern state that marries its old agrarian history with current industry and innovation. Up until World War II, Alabama struggled to transition from an agricultural economy to a modern, industrial economy. Today, however, the state's economy is funded by multiple industries including textiles, chemicals, agriculture, metal production, coal, and auto manufacturing. The state is also known as a major producer of steel and iron products as well. Alabama is rich in early American history as well as natural beauty, with much of the state still fairly undeveloped.

As of 2011, the five largest employers in Alabama were Redstone Arsenal (military), University of Alabama at Birmingham / UAB Hospital, Maxwell Air Force Base, the State of Alabama, and the Mobile County Public School System. Examining the rest of the list, one finds a mix of education, health care, technology, banking, and industrial work. Recent estimates put the state's GDP at around $170 billion and per capita income at over $20,000.

Here are two interesting facts about the state: the city of Huntsville is known as the rocket capital of the world, and MLB Hall of Famer Willie Mays was born in Alabama in the 1930s.

The Cities of Alabama

With a total population of nearly 5 million people, the state is the 23rd largest in the United States. Alabama's most populous cities are:

  • Birmingham-Hoover (212,237)
  • Montgomery (205,764)
  • Mobile (195,111)
  • Huntsville (180,105)
  • Tuscaloosa (90,468)

In early 2013, John Archibald, a columnist for AL.com, set out to rank the best and worst cities in Alabama to live. He chose Auburn, Athens, Homewood, Daphne, Pelham, Alabaster, Hoover, Vestavia Hills, Madison, and Mountain Brook as the best cities. Archibald named Oxford, Decatur, Albertville, Birmingham, Mobile, Anniston, Bessemer, Gadsden, Selma, and Prichard as the worst cities to live.

Of course, these lists are simply one man's opinion. If you are looking for more comprehensive information about a city in Alabama, we recommend checking out a more official resource. One place you might look is the State of Alabama's official website, broken down by city, which is located here.

Banks and Credit Unions in Alabama

A number of financial institutions call the state of Alabama home. These include:

  • Alamerica Bank
  • Aliant Bank
  • AmSouth Bancorporation
  • Auburn National Bancorporation
  • BBVA Compass
  • Cadence Bank
  • Colonial Bank
  • First Federal Bank
  • First Metro Bank
  • Mid South Bank
  • Redstone Federal Credit Union
  • Regions Financial Corporation
  • SouthTrust
  • Superior Bancorp

Of course, these are only banks that are headquartered in the state. Many other banks and credit unions have branches in Alabama, from large national chains such as BB&T Bank and Citizens Bank to smaller players such as Ameris Bank. This means that there are many choices for the citizens of Alabama, but with more choices also comes the responsibility of shopping around for the best deal.

Comparing Bank Rates in Alabama

If you live in Alabama, you may be wondering how to figure out which bank or credit union will offer you the best price on a home loan, a loan for your car, a certificate of deposit or a savings account. That's where we come in - compare offers from multiple banks, credit unions, lenders, and more using RateZip's financial search engine. It's easy to get started.

Finding a Mortgage in Alabama

If a new home in the south is a potential prospect, a homebuyer should utilize the benefits of RateZip.com to find the best mortgage rates available for property in Alabama. Homeowners and prospective buyers can choose between a wide variety of home loan products, such as:

  • 10, 15, 20, or 30 year fixed rate mortgages
  • 1/1, 3/1, and 5/1 adjustable rate mortgages (ARMs)
  • Loans from the FHA and VA
  • Jumbo mortgages for large loan amounts
  • Refinance options, including HARP
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