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 2,627th largest credit union in the nation. It was established in 1955 and as of September of 2023, it had grown to 14 employees and 4,413 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, worship, or attend school in the Alabama counties of Bibb, Fayette, Greene, Hale, Lamar, Pickens, Sumter, or Tuscaloosa.
See current membership details

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Health
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
Employees14
Primary Regulator
Profit Margin
Return on Assets - YTD0.01%
Return on Equity - YTD0.36%
Annual Interest Income$1.1MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$42MM$40.8MM
LoansQ3 2023vs Q3 2022$19.1MM$17.3MM
DepositsQ3 2023vs Q3 2022$35.4MM$38.4MM
Equity CapitalQ3 2023vs Q3 2022$1.5MM$2.3MM
Loan Loss AllowanceQ3 2023vs Q3 2022$246K$240K
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$243K$196K
Real Estate OwnedQ3 2023vs Q3 2022$0$0
Rates

Rates for Red Oak Credit Union are currently being reviewed.

Locations


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

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