Red Oak Credit Union


Overview / Commentary
205-759-7317
1008 Veterans Memorial Pkwy
Tuscaloosa, AL 35404

Red Oak Credit Union is headquartered in Tuscaloosa and is the 48th largest credit union in the state of Alabama. It is also the 2,568th largest credit union in the nation. It was established in 1955 and as of March of 2024, it had grown to 13 employees and 4,384 members at 2 locations. Red Oak Credit Union's money market rates are 8X the national average, but it has a C- health rating.

Field of Membership Restrictions

Red Oak Credit Union is open to those who live, work, worship, or attend school in the Alabama counties of Bibb, Fayette, Greene, Hale, Lamar, Pickens, Sumter, or Tuscaloosa.
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Health
C-
Additional 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 Chartered1955
Employees13
Primary Regulator
Profit Margin
Return on Assets - YTD-0.65%
Return on Equity - YTD-16.11%
Annual Interest Income$436K
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$44.2MM$43MM
LoansQ1 2024vs Q1 2023$21.1MM$19.9MM
DepositsQ1 2024vs Q1 2023$34.7MM$39.7MM
Equity CapitalQ1 2024vs Q1 2023$1.8MM$1.9MM
Loan Loss AllowanceQ1 2024vs Q1 2023$233K$301K
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$353K$214K
Real Estate OwnedQ1 2024vs Q1 2023$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Red Oak Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$0-IRA Savings
0.10%$0-Share (Savings)
0.10%$0-Club Accounts

Red Oak Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.30%*$100k*-Money Market Account
OTHER TIERS: 0.10% $0 - $2.5k | 0.25% $2.5k - $10k | 1.00% $10k - $25k | 1.51% $25k - $50k | 1.76% $50k - $100k

Red Oak Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.78%$500-60 Month Share Certificate
2.52%$500-48 Month Share Certificate
2.27%$500-36 Month Share Certificate
2.01%$500-24 Month Share Certificate
1.76%$500-18 Month Share Certificate
1.66%$500-12 Month Share Certificate
1.00%$500-6 Month Share Certificate

Red Oak Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.78%$500-60 Month IRA Certificate
2.52%$500-48 Month IRA Certificate
2.27%$500-36 Month IRA Certificate
2.01%$500-24 Month IRA Certificate
1.76%$500-18 Month IRA Certificate
1.66%$500-12 Month IRA Certificate
1.00%$500-6 Month IRA Certificate
Locations


Red Oak Credit Union Locations
Branch Office1008 Veterans Memorial PkwyTuscaloosa, AL 35404
Branch Office3100 McFarland BlvdNorthport, AL 35476

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