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 2,532nd largest credit union in the nation. It was established in 1955 and as of September of 2024, it had grown to 13 employees and 4,373 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 Q3 2024
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 | 13 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.94% |
| Return on Equity - YTD | -17.77% |
| Annual Interest Income | $1.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $44.4MM$42MM |
| Loans | Q3 2024vs Q3 2023 | $22.6MM$19.1MM |
| Deposits | Q3 2024vs Q3 2023 | $32.7MM$35.4MM |
| Equity Capital | Q3 2024vs Q3 2023 | $2.3MM$1.5MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $104K$246K |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $151K$243K |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |