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 2,624th largest credit union in the nation. It was established in 1955 and as of June of 2023, it had grown to 14 employees and 4,486 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.
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Health
C
Data as of Q2 2023
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 | 0.01% |
| Return on Equity - YTD | 0.27% |
| Annual Interest Income | $760.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $42.5MM$36.4MM |
| Loans | Q2 2023vs Q2 2022 | $19.4MM$15.1MM |
| Deposits | Q2 2023vs Q2 2022 | $38.5MM$33.7MM |
| Equity Capital | Q2 2023vs Q2 2022 | $1.8MM$2.7MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$164.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $299.00K$208.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |