Redstone Federal Credit Union is headquartered in Huntsville and is the largest credit union in the state of Alabama. It is also the 46th largest credit union in the nation. It was established in 1951 and as of June of 2024, it had grown to 1,299 employees and 809,890 members at 43 locations. Redstone Federal Credit Union's savings rates are 10X the national average, and it has a B+ health rating.
Field of Membership Restrictions
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.
See current membership details
Greed And Charge Fees At Every Chance!
Beware ! They will charge fees even duplicates! And no remorse!!!
Incompetent Employees When It Comes To Banking
The most incompetent employees if you want anything done right you need to do it yourself they won't even answer their phones dont even try to explain what you want done before you know it they close your bank account without your permission we had the same account for over 20 yrs I have given them so many chances even changed banks because they screwed us up twice now I get 1 fraud Check got a new account & waiting for our stimulus check to go in before we close our account been pending since Saturday now we received our fraud money back they closed the account went to bank they reopened it but too late no stimulus so guess we have to wait for gov to send a paper check been dealing with this bank over a month & having gall bladder surgery at the same time I'm devastated
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 7544 |
| Year Chartered | 1951 |
| Employees | 1299 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.33% |
| Return on Equity - YTD | 15.34% |
| Annual Interest Income | $186.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $7.66B$7.4B |
| Loans | Q2 2024vs Q2 2023 | $3.8B$3.78B |
| Deposits | Q2 2024vs Q2 2023 | $6.91B$6.81B |
| Equity Capital | Q2 2024vs Q2 2023 | $662.4MM$523MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $46.2MM$41.2MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $28.2MM$15.2MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $274K$347K |
