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256-837-6110
220 Wynn Dr
Huntsville, AL 35893

Redstone Credit Union is headquartered in Huntsville and is the largest credit union in the state of Alabama. It is also the 37th largest credit union in the nation. It was established in 1951 and as of March of 2014, it had grown to 804 employees and 369,221 members. Redstone Credit Union has a A health rating.

Field of Membership Restrictions

If you have an immediate, eligible family or household member who's already an RFCU member. If you belong to an eligible club or organization that offers RFCU membership. If your employer offers RFCU membership - See Details

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Reviews (2)

A Bit Slow, But Personable.

Redstone has been my alternate credit union for about a decade now. While there aren't many branches, or even free ATM's they are worth being a member of if you are local. They have an actual free checking account, with no minimum balance, and a decent interest rate on savings accounts as well.

 

Don't expect banking via your smartphone. There is a website, but it is... a bit clunky still. It has improved drastically, but still not up to the standards of the larger banks. On the other hand, you can talk to a human over the phone without going through an automated maze. If you have a problem they are quick to help as well.

If you need a simple small town bank they are hard to beat. No frills, but then again no random $15 "convenience" fees mysteriously showing up either. If you need a loan they are helpful, and don't drown you in paperwork either.

Not very glitzy, but more than adequate.

Redstone

I have been using this Credit Union for almost 12 years now. They have treated me fairly and always been helpful in resolving any problems that I have encountered while banking with them. I have overdraft protection and security notifications which have made keeping track of my money and protecting it very easy. The only draw back that I have encountered is that they have not expanded the amount of branches that they have. They are solely located in Northern Alabama which can be a problem when I am travelling or conducting business throughout the State.



Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Redstone Credit Union had $11.89 million in non-current loans and owned real-estate with $400.48 million in equity and loan loss allowances on hand to cover it. This gives Redstone Credit Union a Texas Ratio of 2.97% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Redstone Credit Union decreased dramatically from 4.64% as of March 31, 2013 to 2.97% as of March 31, 2014, resulting in a positive change of 35.96%.This indicates that the balance sheet and financial strength for Redstone Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Redstone Credit Union has increased its total deposits by $115.72 million, resulting in 3.76% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Redstone Credit Union has shown is excellent.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Redstone Credit Union has $3.66 billion in assets with $400.48 million in equity, resulting in a capitalization level of 10.95%, which is above average.

Institution Statistics

Overall
NCUA #7544
Year Chartered1951
Employees804
Primary Regulator
Assets and Liabilities
Assets$3.66 billion
Loans$1.30 billion
Deposits$3.19 billion
Equity Capital$379.96 million
Loan Loss Allowance$20.52 million
Unbacked Noncurrent Loans$10.21 million
Real Estate Owned$1.68 million
Historic Data - March 2013
Assets$3.54 billion
Equity Capital$362.98 million
Loan Loss Allowance$19.79 million
Unbacked Noncurrent Loans$10.21 million
Real Estate Owned$3.76 million
Profit Margin - Quarterly
Net Interest Margin1.2%
Return on Assets0.7%
Return on Equity6.78%
Interest Income$24.80 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Redstone Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Redstone Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%--IRA Savings
0.15%--Roth IRA Savings
0.15%--Regular Share Account
0.15%$500-“You Name It” Share Account
0.15%--Christmas Club Share Account
0.15%--Endeavor Savings

Redstone Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$100k-Money Market Share Account
0.35%$100k-Endeavor Money Market

Redstone Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$50k-Endeavor Plus Checking

Redstone Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.87%$100k-60 Month MemberPlus Jumbo Share Certificate (Compounding)
1.86%$1k-60 Month MemberPlus Regular Share Certificate (Compounding)
1.85%$100k-60 Month MemberPlus Jumbo Share Certificate (Non-Compounding)
1.85%$1k-60 Month MemberPlus Regular Share Certificate (Non-Compounding)
1.61%$1k-60 Month Regular Share Certificate (Compounding)
1.61%$100k-60 Month Jumbo Share Certificate (Compounding)
1.60%$100k-60 Month Jumbo Share Certificate (Non-Compounding)
1.60%$1k-60 Month Regular Share Certificate (Non-Compounding)
1.51%$100k-48 Month MemberPlus Jumbo Share Certificate (Compounding)
1.51%$1k-48 Month MemberPlus Regular Share Certificate (Compounding)
1.50%$100k-48 Month MemberPlus Jumbo Share Certificate (Non-Compounding)
1.50%$1k-48 Month MemberPlus Regular Share Certificate (Non-Compounding)
1.26%$1k-48 Month Regular Share Certificate (Compounding)
1.26%$100k-48 Month Jumbo Share Certificate (Compounding)
1.25%$100k-48 Month Jumbo Share Certificate (Non-Compounding)
1.25%$1k-48 Month Regular Share Certificate (Non-Compounding)
1.00%$100k-36 Month MemberPlus Jumbo Share Certificate (Compounding)
1.00%$1k-36 Month MemberPlus Regular Share Certificate (Compounding)
1.00%$100k-36 Month MemberPlus Jumbo Share Certificate (Non-Compounding)
1.00%$1k-36 Month MemberPlus Regular Share Certificate (Non-Compounding)
1.00%$1k-36 Month Member's Choice MemberPlus! Share Certificate (Non Compounding)
1.00%$1k-36 Month Member's Choice MemberPlus! Share Certificate (Compounding)
0.75%$1k-36 Month Regular Share Certificate (Compounding)
0.75%$100k-36 Month Jumbo Share Certificate (Compounding)
0.75%$100k-36 Month Jumbo Share Certificate (Non-Compounding)
0.75%$1k-36 Month Regular Share Certificate (Non-Compounding)
0.75%$1k-36 Month Member's Choice Share Certificate (Compounding)
0.75%$1k-36 Month Member's Choice Share Certificate (Non Compounding)
0.50%$100k-24 Month MemberPlus Jumbo Share Certificate (Compounding)
0.50%$1k-24 Month MemberPlus Regular Share Certificate (Compounding)
0.50%$100k-24 Month MemberPlus Jumbo Share Certificate (Non-Compounding)
0.50%$1k-24 Month MemberPlus Regular Share Certificate (Non-Compounding)
0.45%$100k-18 Month MemberPlus Jumbo Share Certificate (Compounding)
0.45%$1k-18 Month MemberPlus Regular Share Certificate (Compounding)
0.45%$100k-18 Month MemberPlus Jumbo Share Certificate (Non-Compounding)
0.45%$1k-18 Month MemberPlus Regular Share Certificate (Non-Compounding)
0.40%$100k-12 Month MemberPlus Jumbo Share Certificate (Compounding)
0.40%$1k-12 Month MemberPlus Regular Share Certificate (Compounding)
0.40%$100k-12 Month MemberPlus Jumbo Share Certificate (Non-Compounding)
0.40%$1k-12 Month MemberPlus Regular Share Certificate (Non-Compounding)
0.35%$100k-6 Month MemberPlus Jumbo Share Certificate (Compounding)
0.35%$1k-6 Month MemberPlus Regular Share Certificate (Compounding)
0.35%$100k-6 Month MemberPlus Jumbo Share Certificate (Non-Compounding)
0.35%$1k-6 Month MemberPlus Regular Share Certificate (Non-Compounding)
0.25%$1k-24 Month Regular Share Certificate (Compounding)
0.25%$100k-24 Month Jumbo Share Certificate (Compounding)
0.25%$100k-24 Month Jumbo Share Certificate (Non-Compounding)
0.25%$1k-24 Month Regular Share Certificate (Non-Compounding)
0.20%$1k-18 Month Regular Share Certificate (Compounding)
0.20%$100k-18 Month Jumbo Share Certificate (Compounding)
0.20%$100k-18 Month Jumbo Share Certificate (Non-Compounding)
0.20%$1k-18 Month Regular Share Certificate (Non-Compounding)
0.15%$1k-12 Month Regular Share Certificate (Compounding)
0.15%$100k-12 Month Jumbo Share Certificate (Compounding)
0.15%$100k-12 Month Jumbo Share Certificate (Non-Compounding)
0.15%$1k-12 Month Regular Share Certificate (Non-Compounding)
0.10%$1k-6 Month Regular Share Certificate (Compounding)
0.10%$100k-6 Month Jumbo Share Certificate (Compounding)
0.10%$100k-6 Month Jumbo Share Certificate (Non-Compounding)
0.10%$1k-6 Month Regular Share Certificate (Non-Compounding)

Redstone Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.86%$500-60 Month MemberPlus IRA Certificate
1.61%$500-60 Month IRA Certificate
1.51%$500-48 Month MemberPlus IRA Certificate
1.26%$500-48 Month IRA Certificate
1.00%$500-36 Month MemberPlus IRA Certificate
0.75%$500-36 Month IRA Certificate
0.50%$500-24 Month MemberPlus IRA Certificate
0.45%--18 Month MemberPlus IRA Certificate
0.25%$500-24 Month IRA Certificate
0.20%--18 Month IRA Certificate
Locations

Redstone Credit Union has 24 locations. Click to view all Redstone Credit Union locations.