Overview / Commentary
Red Oak Credit Union is headquartered in Tuscaloosa and is the 49th largest credit union in the state of Alabama. It is also the 2,715th largest credit union in the nation. It was established in 1955 and as of September of 2022, it had grown to 14 employees and 4,828 members at 2 locations. Red Oak Credit Union has a C+ health rating.
Field of Membership Restrictions
Red Oak Credit Union is open to those who live, work, or go to school in Bibb, Fayette, Greene, Hale, Lamar, Pickens, Sumter, or Tuscaloosa County.
See current membership details
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Health
C+
Data as of Q3 2022
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Red Oak Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 63940 |
| Year Chartered | 1955 |
| Employees | 14 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.25% |
| Return on Equity - YTD | 4.25% |
| Annual Interest Income | $864.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $40.8MM$38.5MM |
| Loans | Q3 2022vs Q3 2021 | $17.3MM$9.6MM |
| Deposits | Q3 2022vs Q3 2021 | $38.4MM$34.2MM |
| Equity Capital | Q3 2022vs Q3 2021 | $2.3MM$4.2MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $240.00K$221.00K |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $196.00K$189.00K |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |