Overview / Commentary
Red Oak Credit Union is headquartered in Tuscaloosa and is the 48th largest credit union in the state of Alabama. It is also the 2,746th largest credit union in the nation. It was established in 1955 and as of June of 2020, it had grown to 12 employees and 4,499 members at 1 location. Red Oak Credit Union has a B 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
B
Data as of Q2 2020
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 | 12 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.41% |
| Return on Equity - YTD | 3.03% |
| Annual Interest Income | $559.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $36.7MM$31.5MM |
| Loans | Q2 2020vs Q2 2019 | $10.0MM$11.3MM |
| Deposits | Q2 2020vs Q2 2019 | $31.9MM$26.9MM |
| Equity Capital | Q2 2020vs Q2 2019 | $4.8MM$4.5MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $233.00K$219.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $627.00K$565.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$35.00K |