Redstone Federal Credit Union is headquartered in Huntsville and is the largest credit union in the state of Alabama. It is also the 44th largest credit union in the nation. It was established in 1951 and as of June of 2023, it had grown to 1,266 employees and 789,516 members at 40 locations. Redstone Federal Credit Union has a B health rating.
Membership in Redstone Federal Credit Union is open to military and civilian personnel working at Redstone Arsenal. Employees of Madison County (AL) and members of the National Guard in the Alabama counties of Limestone, Madison, or Morgan, or Lincoln County in Tennessee also qualify, as do the employees/members of more than 1,500 Membership Partner groups.
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I have been using this Credit Union for almost 12 years now. They have treated me fairly and always been helpful in resolving any problems that I have encountered while banking with them. I have overdraft protection and security notifications which have made keeping track of my money and protecting it very easy. The only draw back that I have encountered is that they have not expanded the amount of branches that they have. They are solely located in Northern Alabama which can be a problem when I am travelling or conducting business throughout the State.
Redstone Federal Credit Union is a credit union located in northern Alabama. I have been a part of the credit union for the past 5 years. Overall, it has been a good experience. I like that when I get paid I do not have to worry about whether my money will be in the account. Generally, I can see the pending deposit one to two days before it post. I enjoy that Redstone has a rewards program, every time you use your debit card, they deposit a certain amount into your account (I'm not sure of the amount). My husband and I each have account a Redstone, making it very easy for us to transfer money to each other or other people who have Redstone. The app is very convenient. I am able to check my account, authorize transfers to other people, as well as apply for other things that may be interesting to me. One thing that has been very inconvenient is the bill pay feature has never worked for me. Another thing thay has been am issue is if I deposit money at the atm, I can not put the money directly into my checking account. I hasbed yo put the money into my savings account hem transfer to my checking account, due to always getting an error message. The customer service that I experience in all of the local branches is great. They all know me by name. I feel that is important.
Red Stone Federal Credit Union is a local bank out of Huntsville, AL. It's an adorable small bank with a lot of care. Each worker helps you out as much as possible with every question or problem. A lot of them know you by name and will help you get set up with many of the bank's banking options. On top of that, Their mobile app is super easy to use and it's TREMENDOUSLY helpful. Once you get the hang of it, You may find that local businesses offer 10% discounts/cashback for using the banking card making this a wonderful experience for everyone including the local Huntsville economy. I have never felt like I needed to change banks since I became a member!
|Return on Assets - YTD||1.18%|
|Return on Equity - YTD||16.97%|
|Annual Interest Income||$160.1MM|
|Assets and Liabilities|
|Assets||Q2 2023vs Q2 2022||$7.40B$7.62B|
|Loans||Q2 2023vs Q2 2022||$3.78B$3.26B|
|Deposits||Q2 2023vs Q2 2022||$6.81B$7.02B|
|Equity Capital||Q2 2023vs Q2 2022||$523.0MM$533.5MM|
|Loan Loss Allowance||Q2 2023vs Q2 2022||$41.2MM$32.0MM|
|Unbacked Noncurrent Loans||Q2 2023vs Q2 2022||$15.2MM$13.9MM|
|Real Estate Owned||Q2 2023vs Q2 2022||$0$0|
Rates for Redstone Federal Credit Union are currently being reviewed.